Michael Carp

Executive Vice President, Director of Special Assets @Veritex Community Bank

Dallas, TX, US

Headquartered in Dallas, Veritex Community Bank has over 40 banking centers throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System.At December 31, 2022, Veritex reported assets of over $10.9 billion.Veritex purchases individual loans and groups of loans, through both acquisitions of other banks and the normal course of its operations, some of which have shown evidence of credit deterioration since origination. These PCD loans at December 31, 2022 were approximately $34 million (down from $172 million at June 30, 2019).• Hired to lead the integration of special assets from seven acquired banks.• Projects have included data consolidation, portfolio re-assignments, best practice reviews and drafting new procedures.• Collaborate with accounting & finance to manage purchase accounting issues and recently-adopted CECL matters.• Managed nine-member team that resolved more than $110 million of distressed assets in 2021 with a recovery of more than 93% and more than $86 million of distressed assets in 2022 with a recovery of more than 98%.• As a player-coach, I am responsible for portfolio operations and managing sub- and non-performing loans secured by commercial real estate.• Hands-on management and resolution of large balance CRE credits exceeding Managed resolution strategies including auctions, loan sales, bulk sales and Trustee-directed sales.• Member of the Credit Administration Leadership Team.• Co-chair Special Assets Committee.

Southern Methodist University

Master of Arts - MA, Dispute Resolution

Southern Methodist University

BBA, Business, Accounting