04:21 PM EDT, 03/28/2024 (MT Newswires) -- Veritex Holdings ( VBTX ) said Thursday its board approved a share buyback program of up to $50 million.

According to the company, the buyback program expires on March 31, 2025, and will be funded with cash on hand and from Veritex Community Bank's operations.

Veritex ( VBTX ) said it also completed restructuring its available-for-sale debt portfolio and sold $120.1 million of 3.11% yield debt securities.

The sale resulted in a $6.5 million pre-tax loss, the company added.

Veritex ( VBTX ) reinvested about $115.9 million from the proceeds in available-for-sale securities with a 6.24% yield.

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