Texas Capital Bancshares, Inc. Announces Second Quarter 2025 Results
Texas Capital Bancshares (NASDAQ: TCBI) reported strong Q2 2025 financial results, with net income of $77.3 million, up 86% year-over-year. The company achieved diluted EPS of $1.58, a 98% increase from Q2 2024.
Key highlights include 7% quarter-over-quarter and 10% year-over-year loan growth, with total loans held for investment reaching $23.9 billion. Net interest income rose to $253.4 million, with net interest margin improving to 3.35%. The company maintained strong capital ratios with CET1 at 11.4% and repurchased 317,860 shares at an average price of $65.50.
Credit quality metrics showed mixed results with net charge-offs of $13.0 million and non-accrual loans increasing to $113.6 million, while criticized loans decreased to $637.5 million.
Texas Capital Bancshares (NASDAQ: TCBI) ha riportato risultati finanziari solidi per il secondo trimestre 2025, con un utile netto di 77,3 milioni di dollari, in crescita dell'86% rispetto allo stesso periodo dell'anno precedente. L'azienda ha registrato un utile per azione diluito di 1,58 dollari, con un aumento del 98% rispetto al Q2 2024.
I punti salienti includono una crescita dei prestiti del 7% trimestre su trimestre e del 10% anno su anno, con prestiti totali detenuti per investimento che hanno raggiunto i 23,9 miliardi di dollari. Il reddito netto da interessi è salito a 253,4 milioni di dollari, con un margine di interesse netto migliorato al 3,35%. L'azienda ha mantenuto solidi rapporti patrimoniali con CET1 al 11,4% e ha riacquistato 317.860 azioni a un prezzo medio di 65,50 dollari.
Le metriche di qualità del credito hanno mostrato risultati contrastanti, con svalutazioni nette di 13,0 milioni di dollari e prestiti non produttivi aumentati a 113,6 milioni di dollari, mentre i prestiti criticati sono diminuiti a 637,5 milioni di dollari.
Texas Capital Bancshares (NASDAQ: TCBI) reportó sólidos resultados financieros en el segundo trimestre de 2025, con un ingreso neto de 77.3 millones de dólares, un aumento del 86% interanual. La compañía logró un BPA diluido de 1.58 dólares, un incremento del 98% respecto al segundo trimestre de 2024.
Los aspectos destacados incluyen un crecimiento de préstamos del 7% trimestre a trimestre y del 10% año tras año, con préstamos totales para inversión que alcanzaron los 23.9 mil millones de dólares. Los ingresos netos por intereses aumentaron a 253.4 millones de dólares, con un margen neto de interés mejorado al 3.35%. La empresa mantuvo sólidos índices de capital con CET1 en 11.4% y recompró 317,860 acciones a un precio promedio de 65.50 dólares.
Las métricas de calidad crediticia mostraron resultados mixtos, con cargos netos por incobrables de 13.0 millones de dólares y préstamos en mora que aumentaron a 113.6 millones de dólares, mientras que los préstamos criticados disminuyeron a 637.5 millones de dólares.
Texas Capital Bancshares (NASDAQ: TCBI)는 2025년 2분기 강력한 재무 실적을 발표했으며, 순이익은 7,730만 달러로 전년 동기 대비 86% 증가했습니다. 희석 주당순이익은 1.58달러로 2024년 2분기 대비 98% 상승했습니다.
주요 내용으로는 분기별 7%, 연간 10% 대출 성장률을 기록했으며, 투자용 총 대출액은 239억 달러에 달했습니다. 순이자수익은 2억 5,340만 달러로 증가했으며, 순이자마진은 3.35%로 개선되었습니다. 회사는 CET1 비율을 11.4%로 유지했으며, 평균 가격 65.50달러에 317,860주를 자사주 매입했습니다.
신용 품질 지표는 혼재된 결과를 보였으며, 순대손충당금은 1,300만 달러, 부실 대출은 1억 1,360만 달러로 증가했으나, 비판적 대출은 6억 3,750만 달러로 감소했습니다.
Texas Capital Bancshares (NASDAQ: TCBI) a publié de solides résultats financiers pour le deuxième trimestre 2025, avec un bénéfice net de 77,3 millions de dollars, en hausse de 86 % par rapport à l'année précédente. La société a réalisé un BPA dilué de 1,58 dollar, soit une augmentation de 98 % par rapport au deuxième trimestre 2024.
Les points clés incluent une croissance des prêts de 7 % trimestre après trimestre et de 10 % d'une année sur l'autre, avec un total des prêts détenus pour investissement atteignant 23,9 milliards de dollars. Le produit net d'intérêts a augmenté pour atteindre 253,4 millions de dollars, avec une marge nette d'intérêt améliorée à 3,35 %. La société a maintenu de solides ratios de capital avec un CET1 à 11,4 % et a racheté 317 860 actions à un prix moyen de 65,50 dollars.
Les indicateurs de qualité du crédit ont montré des résultats mitigés avec des pertes nettes sur créances de 13,0 millions de dollars et des prêts non productifs en hausse à 113,6 millions de dollars, tandis que les prêts critiqués ont diminué à 637,5 millions de dollars.
Texas Capital Bancshares (NASDAQ: TCBI) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit einem Nettogewinn von 77,3 Millionen US-Dollar, was einem Anstieg von 86 % im Jahresvergleich entspricht. Das Unternehmen erzielte ein verwässertes Ergebnis je Aktie von 1,58 US-Dollar, eine Steigerung von 98 % gegenüber dem zweiten Quartal 2024.
Zu den wichtigsten Highlights zählen ein Kreditwachstum von 7 % im Quartalsvergleich und 10 % im Jahresvergleich, wobei die insgesamt gehaltenen Investitionskredite 23,9 Milliarden US-Dollar erreichten. Der Nettozinsertrag stieg auf 253,4 Millionen US-Dollar, mit einer Verbesserung der Nettozinsmarge auf 3,35%. Das Unternehmen hielt starke Kapitalquoten mit einem CET1 von 11,4% und kaufte 317.860 Aktien zu einem Durchschnittspreis von 65,50 US-Dollar zurück.
Die Kreditqualitätskennzahlen zeigten gemischte Ergebnisse mit Nettoabschreibungen von 13,0 Millionen US-Dollar und einem Anstieg notleidender Kredite auf 113,6 Millionen US-Dollar, während kritisierte Kredite auf 637,5 Millionen US-Dollar zurückgingen.
- Net income increased 86% year-over-year to $77.3 million
- Diluted EPS grew 98% year-over-year to $1.58
- Total loans held for investment increased 7% quarter-over-quarter
- Net interest margin improved by 16 basis points to 3.35% from Q1 2025
- Criticized loans decreased to $637.5 million from $762.9 million in Q1 2025
- Book value and tangible book value per share both increased 13% year-over-year
- Net charge-offs increased to $13.0 million from $9.8 million in Q1 2025
- Non-accrual loans increased to $113.6 million from $93.6 million in Q1 2025
- Non-accrual loan ratio worsened to 0.47% from 0.42% in Q1 2025
- CET1 ratio slightly decreased to 11.4% from 11.6% in Q1 2025
Insights
Texas Capital delivered strong Q2 2025 results with 86% YoY net income growth, improved credit metrics, and strategic execution driving structural earnings power improvement.
Texas Capital Bancshares reported exceptional Q2 2025 results with net income available to common stockholders of
The bank's balance sheet demonstrated robust growth with total loans held for investment increasing
Credit quality metrics show mixed signals with criticized loans decreasing to
The bank maintains strong capital levels with CET1 at
The significant improvement in financial performance indicates that management's multi-year strategic transformation efforts are bearing fruit. The bank has successfully diversified its revenue streams and improved operational efficiency, with non-interest income increasing
Second quarter 2025 net income of
of
Second quarter 2025 EPS of
diluted share, up
Strong balance sheet growth with total loans increasing
Book Value and Tangible Book Value(2) per share both increasing
DALLAS, July 17, 2025 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the second quarter of 2025.
“Our multi-year focus on building a differentiated, full-service financial services firm has strengthened our client franchise and consistently delivered high-quality outcomes across our platform, driving strong financial performance this quarter,” said Rob C. Holmes, Chairman, President & CEO. “The strategic actions we’ve taken have structurally enhanced our earnings power, and as we enter the second half of the year, the breadth of our capabilities and the strength of our balance sheet position us to deliver durable, through-cycle results for both clients and shareholders.”
| 2nd Quarter | 1st Quarter | 2nd Quarter | |||||||||
| (dollars in thousands except per share data) | 2025 | 2025 | 2024 | ||||||||
| OPERATING RESULTS | |||||||||||
| Net income | $ | 77,328 | $ | 47,047 | $ | 41,662 | |||||
| Net income available to common stockholders | $ | 73,016 | $ | 42,734 | $ | 37,350 | |||||
| Pre-provision net revenue(3) | $ | 117,188 | $ | 77,458 | $ | 78,597 | |||||
| Diluted earnings per common share | $ | 1.58 | $ | 0.92 | $ | 0.80 | |||||
| Diluted common shares | 46,215,394 | 46,616,704 | 46,872,498 | ||||||||
| Return on average assets | 0.99 | % | 0.61 | % | 0.56 | % | |||||
| Return on average common equity | 9.17 | % | 5.56 | % | 5.26 | % | |||||
| OPERATING RESULTS, ADJUSTED(1) | |||||||||||
| Net income | $ | 79,841 | $ | 47,047 | $ | 42,020 | |||||
| Net income available to common stockholders | $ | 75,529 | $ | 42,734 | $ | 37,708 | |||||
| Pre-provision net revenue(3) | $ | 120,475 | $ | 77,458 | $ | 79,059 | |||||
| Diluted earnings per common share | $ | 1.63 | $ | 0.92 | $ | 0.80 | |||||
| Diluted common shares | 46,215,394 | 46,616,704 | 46,872,498 | ||||||||
| Return on average assets | 1.02 | % | 0.61 | % | 0.57 | % | |||||
| Return on average common equity | 9.48 | % | 5.56 | % | 5.31 | % | |||||
| BALANCE SHEET | |||||||||||
| Loans held for investment | $ | 18,035,945 | $ | 17,654,243 | $ | 16,700,569 | |||||
| Loans held for investment, mortgage finance | 5,889,589 | 4,725,541 | 5,078,161 | ||||||||
| Total loans held for investment | 23,925,534 | 22,379,784 | 21,778,730 | ||||||||
| Loans held for sale | — | — | 36,785 | ||||||||
| Total assets | 31,943,535 | 31,375,749 | 29,854,994 | ||||||||
| Non-interest bearing deposits | 7,718,006 | 7,874,780 | 7,987,715 | ||||||||
| Total deposits | 26,064,309 | 26,053,034 | 23,818,327 | ||||||||
| Stockholders’ equity | 3,510,070 | 3,429,774 | 3,175,601 | ||||||||
(1) These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.
(2) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
(3) Net interest income plus non-interest income, less non-interest expense.
SECOND QUARTER 2025 COMPARED TO FIRST QUARTER 2025
For the second quarter of 2025, net income available to common stockholders was
Provision for credit losses for the second quarter of 2025 was
Net interest income was
Non-interest income for the second quarter of 2025 increased
Non-interest expense for the second quarter of 2025 decreased
SECOND QUARTER 2025 COMPARED TO SECOND QUARTER 2024
Net income available to common stockholders was
The second quarter of 2025 included a
Net interest income increased to
Non-interest income for the second quarter of 2025 increased
Non-interest expense for the second quarter of 2025 increased
CREDIT QUALITY
Net charge-offs of
REGULATORY RATIOS AND CAPITAL
All regulatory ratios continue to be in excess of “well capitalized” requirements as of June 30, 2025. CET1, tier 1 capital, total capital and leverage ratios were
During the second quarter of 2025, the Company repurchased 317,860 shares of its common stock for an aggregate purchase price, including excise tax expense, of
About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio, and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities.
Forward Looking Statements
This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans.
Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including recent trade policies and their impact on our customers; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED) | |||||||||||||||
| (dollars in thousands except per share data) | |||||||||||||||
| 2nd Quarter | 1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | |||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | |||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
| Interest income | $ | 439,567 | $ | 427,289 | $ | 437,571 | $ | 452,533 | $ | 422,068 | |||||
| Interest expense | 186,172 | 191,255 | 207,964 | 212,431 | 205,486 | ||||||||||
| Net interest income | 253,395 | 236,034 | 229,607 | 240,102 | 216,582 | ||||||||||
| Provision for credit losses | 15,000 | 17,000 | 18,000 | 10,000 | 20,000 | ||||||||||
| Net interest income after provision for credit losses | 238,395 | 219,034 | 211,607 | 230,102 | 196,582 | ||||||||||
| Non-interest income | 54,069 | 44,444 | 54,074 | (114,771 | ) | 50,424 | |||||||||
| Non-interest expense | 190,276 | 203,020 | 172,159 | 195,324 | 188,409 | ||||||||||
| Income/(loss) before income taxes | 102,188 | 60,458 | 93,522 | (79,993 | ) | 58,597 | |||||||||
| Income tax expense/(benefit) | 24,860 | 13,411 | 22,499 | (18,674 | ) | 16,935 | |||||||||
| Net income/(loss) | 77,328 | 47,047 | 71,023 | (61,319 | ) | 41,662 | |||||||||
| Preferred stock dividends | 4,312 | 4,313 | 4,312 | 4,313 | 4,312 | ||||||||||
| Net income/(loss) available to common stockholders | $ | 73,016 | $ | 42,734 | $ | 66,711 | $ | (65,632 | ) | $ | 37,350 | ||||
| Diluted earnings/(loss) per common share | $ | 1.58 | $ | 0.92 | $ | 1.43 | $ | (1.41 | ) | $ | 0.80 | ||||
| Diluted common shares | 46,215,394 | 46,616,704 | 46,770,961 | 46,608,742 | 46,872,498 | ||||||||||
| CONSOLIDATED BALANCE SHEET DATA | |||||||||||||||
| Total assets | $ | 31,943,535 | $ | 31,375,749 | $ | 30,731,883 | $ | 31,629,299 | $ | 29,854,994 | |||||
| Loans held for investment | 18,035,945 | 17,654,243 | 17,234,492 | 16,764,512 | 16,700,569 | ||||||||||
| Loans held for investment, mortgage finance | 5,889,589 | 4,725,541 | 5,215,574 | 5,529,659 | 5,078,161 | ||||||||||
| Loans held for sale | — | — | — | 9,022 | 36,785 | ||||||||||
| Interest bearing cash and cash equivalents | 2,507,691 | 3,600,969 | 3,012,307 | 3,894,537 | 2,691,352 | ||||||||||
| Investment securities | 4,608,628 | 4,531,219 | 4,396,115 | 4,405,520 | 4,388,976 | ||||||||||
| Non-interest bearing deposits | 7,718,006 | 7,874,780 | 7,485,428 | 9,070,804 | 7,987,715 | ||||||||||
| Total deposits | 26,064,309 | 26,053,034 | 25,238,599 | 25,865,255 | 23,818,327 | ||||||||||
| Short-term borrowings | 1,250,000 | 750,000 | 885,000 | 1,035,000 | 1,675,000 | ||||||||||
| Long-term debt | 620,256 | 660,521 | 660,346 | 660,172 | 659,997 | ||||||||||
| Stockholders’ equity | 3,510,070 | 3,429,774 | 3,367,936 | 3,354,044 | 3,175,601 | ||||||||||
| End of period shares outstanding | 45,746,836 | 46,024,933 | 46,233,812 | 46,207,757 | 46,188,078 | ||||||||||
| Book value per share | $ | 70.17 | $ | 68.00 | $ | 66.36 | $ | 66.09 | $ | 62.26 | |||||
| Tangible book value per share(1) | $ | 70.14 | $ | 67.97 | $ | 66.32 | $ | 66.06 | $ | 62.23 | |||||
| SELECTED FINANCIAL RATIOS | |||||||||||||||
| Net interest margin | 3.35 | % | 3.19 | % | 2.93 | % | 3.16 | % | 3.01 | % | |||||
| Return on average assets | 0.99 | % | 0.61 | % | 0.88 | % | (0.78 | )% | 0.56 | % | |||||
| Return on average assets, adjusted(4) | 1.02 | % | 0.61 | % | 0.88 | % | 1.00 | % | 0.57 | % | |||||
| Return on average common equity | 9.17 | % | 5.56 | % | 8.50 | % | (8.87 | )% | 5.26 | % | |||||
| Return on average common equity, adjusted(4) | 9.48 | % | 5.56 | % | 8.50 | % | 10.04 | % | 5.31 | % | |||||
| Efficiency ratio(2) | 61.9 | % | 72.4 | % | 60.7 | % | 155.8 | % | 70.6 | % | |||||
| Efficiency ratio, adjusted(2)(4) | 61.1 | % | 72.4 | % | 60.7 | % | 62.3 | % | 70.4 | % | |||||
| Non-interest income to average earning assets | 0.72 | % | 0.60 | % | 0.69 | % | (1.52 | )% | 0.71 | % | |||||
| Non-interest income to average earning assets, adjusted(4) | 0.74 | % | 0.60 | % | 0.69 | % | 0.86 | % | 0.71 | % | |||||
| Non-interest expense to average earning assets | 2.52 | % | 2.75 | % | 2.21 | % | 2.59 | % | 2.65 | % | |||||
| Non-interest expense to average earning assets, adjusted(4) | 2.50 | % | 2.75 | % | 2.21 | % | 2.52 | % | 2.65 | % | |||||
| Common equity to total assets | 10.1 | % | 10.0 | % | 10.0 | % | 9.7 | % | 9.6 | % | |||||
| Tangible common equity to total tangible assets(3) | 10.1 | % | 10.0 | % | 10.0 | % | 9.7 | % | 9.6 | % | |||||
| Common Equity Tier 1 | 11.4 | % | 11.6 | % | 11.4 | % | 11.2 | % | 11.6 | % | |||||
| Tier 1 capital | 12.9 | % | 13.1 | % | 12.8 | % | 12.6 | % | 13.1 | % | |||||
| Total capital | 15.3 | % | 15.6 | % | 15.4 | % | 15.2 | % | 15.7 | % | |||||
| Leverage | 11.8 | % | 11.8 | % | 11.3 | % | 11.4 | % | 12.2 | % | |||||
(1) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
(2) Non-interest expense divided by the sum of net interest income and non-interest income.
(3) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by total assets, less goodwill and intangibles.
(4) These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||||||
| CONSOLIDATED BALANCE SHEETS (UNAUDITED) | |||||||||||||||
| (dollars in thousands) | |||||||||||||||
| June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | |||||||||||
| Assets | |||||||||||||||
| Cash and due from banks | $ | 182,451 | $ | 201,504 | $ | 176,501 | $ | 297,048 | $ | 221,727 | |||||
| Interest bearing cash and cash equivalents | 2,507,691 | 3,600,969 | 3,012,307 | 3,894,537 | 2,691,352 | ||||||||||
| Available-for-sale debt securities | 3,774,141 | 3,678,378 | 3,524,686 | 3,518,662 | 3,483,231 | ||||||||||
| Held-to-maturity debt securities | 761,907 | 779,354 | 796,168 | 812,432 | 831,513 | ||||||||||
| Equity securities | 68,692 | 71,679 | 75,261 | 74,426 | 74,232 | ||||||||||
| Trading securities | 3,888 | 1,808 | — | — | — | ||||||||||
| Investment securities | 4,608,628 | 4,531,219 | 4,396,115 | 4,405,520 | 4,388,976 | ||||||||||
| Loans held for sale | — | — | — | 9,022 | 36,785 | ||||||||||
| Loans held for investment, mortgage finance | 5,889,589 | 4,725,541 | 5,215,574 | 5,529,659 | 5,078,161 | ||||||||||
| Loans held for investment | 18,035,945 | 17,654,243 | 17,234,492 | 16,764,512 | 16,700,569 | ||||||||||
| Less: Allowance for credit losses on loans | 277,648 | 278,379 | 271,709 | 273,143 | 267,297 | ||||||||||
| Loans held for investment, net | 23,647,886 | 22,101,405 | 22,178,357 | 22,021,028 | 21,511,433 | ||||||||||
| Premises and equipment, net | 86,831 | 84,575 | 85,443 | 81,577 | 69,464 | ||||||||||
| Accrued interest receivable and other assets | 908,552 | 854,581 | 881,664 | 919,071 | 933,761 | ||||||||||
| Goodwill and intangibles, net | 1,496 | 1,496 | 1,496 | 1,496 | 1,496 | ||||||||||
| Total assets | $ | 31,943,535 | $ | 31,375,749 | $ | 30,731,883 | $ | 31,629,299 | $ | 29,854,994 | |||||
| Liabilities and Stockholders’ Equity | |||||||||||||||
| Liabilities: | |||||||||||||||
| Non-interest bearing deposits | $ | 7,718,006 | $ | 7,874,780 | $ | 7,485,428 | $ | 9,070,804 | $ | 7,987,715 | |||||
| Interest bearing deposits | 18,346,303 | 18,178,254 | 17,753,171 | 16,794,451 | 15,830,612 | ||||||||||
| Total deposits | 26,064,309 | 26,053,034 | 25,238,599 | 25,865,255 | 23,818,327 | ||||||||||
| Accrued interest payable | 14,120 | 25,270 | 23,680 | 18,679 | 23,841 | ||||||||||
| Other liabilities | 484,780 | 457,150 | 556,322 | 696,149 | 502,228 | ||||||||||
| Short-term borrowings | 1,250,000 | 750,000 | 885,000 | 1,035,000 | 1,675,000 | ||||||||||
| Long-term debt | 620,256 | 660,521 | 660,346 | 660,172 | 659,997 | ||||||||||
| Total liabilities | 28,433,465 | 27,945,975 | 27,363,947 | 28,275,255 | 26,679,393 | ||||||||||
| Stockholders’ equity: | |||||||||||||||
| Preferred stock, $.01 par value, | |||||||||||||||
| Authorized shares - 10,000,000 | |||||||||||||||
| Issued shares(1) | 300,000 | 300,000 | 300,000 | 300,000 | 300,000 | ||||||||||
| Common stock, $.01 par value: | |||||||||||||||
| Authorized shares - 100,000,000 | |||||||||||||||
| Issued shares(2) | 517 | 517 | 515 | 515 | 515 | ||||||||||
| Additional paid-in capital | 1,065,083 | 1,060,028 | 1,056,719 | 1,054,614 | 1,050,114 | ||||||||||
| Retained earnings | 2,611,401 | 2,538,385 | 2,495,651 | 2,428,940 | 2,494,572 | ||||||||||
| Treasury stock(3) | (354,000 | ) | (332,994 | ) | (301,842 | ) | (301,868 | ) | (301,868 | ) | |||||
| Accumulated other comprehensive loss, net of taxes | (112,931 | ) | (136,162 | ) | (183,107 | ) | (128,157 | ) | (367,732 | ) | |||||
| Total stockholders’ equity | 3,510,070 | 3,429,774 | 3,367,936 | 3,354,044 | 3,175,601 | ||||||||||
| Total liabilities and stockholders’ equity | $ | 31,943,535 | $ | 31,375,749 | $ | 30,731,883 | $ | 31,629,299 | $ | 29,854,994 | |||||
| (1) Preferred stock - issued shares | 300,000 | 300,000 | 300,000 | 300,000 | 300,000 | ||||||||||
| (2) Common stock - issued shares | 51,747,305 | 51,707,542 | 51,520,315 | 51,494,260 | 51,474,581 | ||||||||||
| (3) Treasury stock - shares at cost | 6,000,469 | 5,682,609 | 5,286,503 | 5,286,503 | 5,286,503 | ||||||||||
| TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
| CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | ||||||||||
| (dollars in thousands except per share data) | ||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||
| Interest income | ||||||||||
| Interest and fees on loans | $ | 364,358 | $ | 345,251 | $ | 698,508 | $ | 676,130 | ||
| Investment securities | 45,991 | 33,584 | 92,556 | 65,728 | ||||||
| Interest bearing cash and cash equivalents | 29,218 | 43,233 | 75,792 | 97,588 | ||||||
| Total interest income | 439,567 | 422,068 | 866,856 | 839,446 | ||||||
| Interest expense | ||||||||||
| Deposits | 174,798 | 181,280 | 349,734 | 356,880 | ||||||
| Short-term borrowings | 3,444 | 12,749 | 11,690 | 25,532 | ||||||
| Long-term debt | 7,930 | 11,457 | 16,003 | 25,443 | ||||||
| Total interest expense | 186,172 | 205,486 | 377,427 | 407,855 | ||||||
| Net interest income | 253,395 | 216,582 | 489,429 | 431,591 | ||||||
| Provision for credit losses | 15,000 | 20,000 | 32,000 | 39,000 | ||||||
| Net interest income after provision for credit losses | 238,395 | 196,582 | 457,429 | 392,591 | ||||||
| Non-interest income | ||||||||||
| Service charges on deposit accounts | 8,182 | 5,911 | 16,022 | 12,250 | ||||||
| Wealth management and trust fee income | 3,730 | 3,699 | 7,694 | 7,266 | ||||||
| Brokered loan fees | 2,398 | 2,131 | 4,347 | 4,042 | ||||||
| Investment banking and advisory fees | 24,109 | 25,048 | 40,587 | 43,472 | ||||||
| Trading income | 7,896 | 5,650 | 13,835 | 10,362 | ||||||
| Available-for-sale debt securities losses | (1,886 | ) | — | (1,886 | ) | — | ||||
| Other | 9,640 | 7,985 | 17,914 | 14,351 | ||||||
| Total non-interest income | 54,069 | 50,424 | 98,513 | 91,743 | ||||||
| Non-interest expense | ||||||||||
| Salaries and benefits | 120,154 | 118,840 | 251,795 | 247,567 | ||||||
| Occupancy expense | 12,144 | 10,666 | 22,988 | 20,403 | ||||||
| Marketing | 3,624 | 5,996 | 8,633 | 12,032 | ||||||
| Legal and professional | 11,069 | 11,273 | 26,058 | 27,468 | ||||||
| Communications and technology | 24,314 | 22,013 | 47,956 | 43,127 | ||||||
| Federal Deposit Insurance Corporation insurance assessment | 5,096 | 5,570 | 10,437 | 13,991 | ||||||
| Other | 13,875 | 14,051 | 25,429 | 26,214 | ||||||
| Total non-interest expense | 190,276 | 188,409 | 393,296 | 390,802 | ||||||
| Income before income taxes | 102,188 | 58,597 | 162,646 | 93,532 | ||||||
| Income tax expense | 24,860 | 16,935 | 38,271 | 25,728 | ||||||
| Net income | 77,328 | 41,662 | 124,375 | 67,804 | ||||||
| Preferred stock dividends | 4,312 | 4,312 | 8,625 | 8,625 | ||||||
| Net income available to common stockholders | $ | 73,016 | $ | 37,350 | $ | 115,750 | $ | 59,179 | ||
| Basic earnings per common share | $ | 1.59 | $ | 0.80 | $ | 2.52 | $ | 1.26 | ||
| Diluted earnings per common share | $ | 1.58 | $ | 0.80 | $ | 2.49 | $ | 1.25 | ||
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||||||
| SUMMARY OF CREDIT LOSS EXPERIENCE | |||||||||||||||
| (dollars in thousands) | |||||||||||||||
| 2nd Quarter | 1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | |||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | |||||||||||
| Allowance for credit losses on loans: | |||||||||||||||
| Beginning balance | $ | 278,379 | $ | 271,709 | $ | 273,143 | $ | 267,297 | $ | 263,962 | |||||
| Allowance established for acquired purchase credit deterioration loans | — | — | — | 2,579 | — | ||||||||||
| Loans charged-off: | |||||||||||||||
| Commercial | 13,020 | 10,197 | 14,100 | 6,120 | 9,997 | ||||||||||
| Commercial real estate | 431 | 500 | 2,566 | 262 | 2,111 | ||||||||||
| Consumer | — | — | — | 30 | — | ||||||||||
| Total charge-offs | 13,451 | 10,697 | 16,666 | 6,412 | 12,108 | ||||||||||
| Recoveries: | |||||||||||||||
| Commercial | 486 | 483 | 4,562 | 329 | 153 | ||||||||||
| Commercial real estate | — | 413 | 18 | — | — | ||||||||||
| Consumer | — | 4 | 15 | — | — | ||||||||||
| Total recoveries | 486 | 900 | 4,595 | 329 | 153 | ||||||||||
| Net charge-offs | 12,965 | 9,797 | 12,071 | 6,083 | 11,955 | ||||||||||
| Provision for credit losses on loans | 12,234 | 16,467 | 10,637 | 9,350 | 15,290 | ||||||||||
| Ending balance | $ | 277,648 | $ | 278,379 | $ | 271,709 | $ | 273,143 | $ | 267,297 | |||||
| Allowance for off-balance sheet credit losses: | |||||||||||||||
| Beginning balance | $ | 53,865 | $ | 53,332 | $ | 45,969 | $ | 45,319 | $ | 40,609 | |||||
| Provision for off-balance sheet credit losses | 2,766 | 533 | 7,363 | 650 | 4,710 | ||||||||||
| Ending balance | $ | 56,631 | $ | 53,865 | $ | 53,332 | $ | 45,969 | $ | 45,319 | |||||
| Total allowance for credit losses | $ | 334,279 | $ | 332,244 | $ | 325,041 | $ | 319,112 | $ | 312,616 | |||||
| Total provision for credit losses | $ | 15,000 | $ | 17,000 | $ | 18,000 | $ | 10,000 | $ | 20,000 | |||||
| Allowance for credit losses on loans to total loans held for investment | 1.16 | % | 1.24 | % | 1.21 | % | 1.23 | % | 1.23 | % | |||||
| Allowance for credit losses on loans to average total loans held for investment | 1.19 | % | 1.29 | % | 1.22 | % | 1.24 | % | 1.27 | % | |||||
| Net charge-offs to average total loans held for investment(1) | 0.22 | % | 0.18 | % | 0.22 | % | 0.11 | % | 0.23 | % | |||||
| Net charge-offs to average total loans held for investment for last 12 months(1) | 0.18 | % | 0.18 | % | 0.19 | % | 0.20 | % | 0.22 | % | |||||
| Total provision for credit losses to average total loans held for investment(1) | 0.26 | % | 0.32 | % | 0.32 | % | 0.18 | % | 0.38 | % | |||||
| Total allowance for credit losses to total loans held for investment | 1.40 | % | 1.48 | % | 1.45 | % | 1.43 | % | 1.44 | % | |||||
(1) Interim period ratios are annualized.
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||||||
| NON-PERFORMING ASSETS, PAST DUE LOANS AND CRITICIZED LOANS | |||||||||||||||
| (dollars in thousands) | |||||||||||||||
| 2nd Quarter | 1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | |||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | |||||||||||
| NON-PERFORMING ASSETS | |||||||||||||||
| Non-accrual loans held for investment | $ | 113,609 | $ | 93,565 | $ | 111,165 | $ | 88,960 | $ | 85,021 | |||||
| Non-accrual loans held for sale | — | — | — | — | — | ||||||||||
| Other real estate owned | — | — | — | — | — | ||||||||||
| Total non-performing assets | $ | 113,609 | $ | 93,565 | $ | 111,165 | $ | 88,960 | $ | 85,021 | |||||
| Non-accrual loans held for investment to total loans held for investment | 0.47 | % | 0.42 | % | 0.50 | % | 0.40 | % | 0.39 | % | |||||
| Total non-performing assets to total assets | 0.36 | % | 0.30 | % | 0.36 | % | 0.28 | % | 0.28 | % | |||||
| Allowance for credit losses on loans to non-accrual loans held for investment | 2.4x | 3.0x | 2.4x | 3.1x | 3.1x | ||||||||||
| Total allowance for credit losses to non-accrual loans held for investment | 2.9x | 3.6x | 2.9x | 3.6x | 3.7x | ||||||||||
| LOANS PAST DUE | |||||||||||||||
| Loans held for investment past due 90 days and still accruing | $ | 2,068 | $ | 791 | $ | 4,265 | $ | 5,281 | $ | 286 | |||||
| Loans held for investment past due 90 days to total loans held for investment | 0.01 | % | — | % | 0.02 | % | 0.02 | % | — | % | |||||
| Loans held for sale past due 90 days and still accruing | $ | — | $ | — | $ | — | $ | — | $ | 64 | |||||
| CRITICIZED LOANS | |||||||||||||||
| Criticized loans | $ | 637,462 | $ | 762,887 | $ | 713,951 | $ | 897,727 | $ | 859,671 | |||||
| Criticized loans to total loans held for investment | 2.66 | % | 3.41 | % | 3.18 | % | 4.03 | % | 3.95 | % | |||||
| Special mention loans | $ | 339,923 | $ | 484,165 | $ | 435,626 | $ | 579,802 | $ | 593,305 | |||||
| Special mention loans to total loans held for investment | 1.42 | % | 2.16 | % | 1.94 | % | 2.60 | % | 2.72 | % | |||||
| TEXAS CAPITAL BANCSHARES, INC. | ||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | ||||||||||||
| (dollars in thousands) | ||||||||||||
| 2nd Quarter | 1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | ||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||
| Interest income | ||||||||||||
| Interest and fees on loans | $ | 364,358 | $ | 334,150 | $ | 340,388 | $ | 361,407 | $ | 345,251 | ||
| Investment securities | 45,991 | 46,565 | 44,102 | 38,389 | 33,584 | |||||||
| Interest bearing deposits in other banks | 29,218 | 46,574 | 53,081 | 52,737 | 43,233 | |||||||
| Total interest income | 439,567 | 427,289 | 437,571 | 452,533 | 422,068 | |||||||
| Interest expense | ||||||||||||
| Deposits | 174,798 | 174,936 | 189,061 | 190,255 | 181,280 | |||||||
| Short-term borrowings | 3,444 | 8,246 | 10,678 | 13,784 | 12,749 | |||||||
| Long-term debt | 7,930 | 8,073 | 8,225 | 8,392 | 11,457 | |||||||
| Total interest expense | 186,172 | 191,255 | 207,964 | 212,431 | 205,486 | |||||||
| Net interest income | 253,395 | 236,034 | 229,607 | 240,102 | 216,582 | |||||||
| Provision for credit losses | 15,000 | 17,000 | 18,000 | 10,000 | 20,000 | |||||||
| Net interest income after provision for credit losses | 238,395 | 219,034 | 211,607 | 230,102 | 196,582 | |||||||
| Non-interest income | ||||||||||||
| Service charges on deposit accounts | 8,182 | 7,840 | 6,989 | 6,307 | 5,911 | |||||||
| Wealth management and trust fee income | 3,730 | 3,964 | 4,009 | 4,040 | 3,699 | |||||||
| Brokered loan fees | 2,398 | 1,949 | 2,519 | 2,400 | 2,131 | |||||||
| Investment banking and advisory fees | 24,109 | 16,478 | 26,740 | 34,753 | 25,048 | |||||||
| Trading income | 7,896 | 5,939 | 5,487 | 5,786 | 5,650 | |||||||
| Available-for-sale debt securities losses | (1,886 | ) | — | — | (179,581 | ) | — | |||||
| Other | 9,640 | 8,274 | 8,330 | 11,524 | 7,985 | |||||||
| Total non-interest income | 54,069 | 44,444 | 54,074 | (114,771 | ) | 50,424 | ||||||
| Non-interest expense | ||||||||||||
| Salaries and benefits | 120,154 | 131,641 | 97,873 | 121,138 | 118,840 | |||||||
| Occupancy expense | 12,144 | 10,844 | 11,926 | 12,937 | 10,666 | |||||||
| Marketing | 3,624 | 5,009 | 4,454 | 5,863 | 5,996 | |||||||
| Legal and professional | 11,069 | 14,989 | 15,180 | 11,135 | 11,273 | |||||||
| Communications and technology | 24,314 | 23,642 | 24,007 | 25,951 | 22,013 | |||||||
| Federal Deposit Insurance Corporation insurance assessment | 5,096 | 5,341 | 4,454 | 4,906 | 5,570 | |||||||
| Other | 13,875 | 11,554 | 14,265 | 13,394 | 14,051 | |||||||
| Total non-interest expense | 190,276 | 203,020 | 172,159 | 195,324 | 188,409 | |||||||
| Income/(loss) before income taxes | 102,188 | 60,458 | 93,522 | (79,993 | ) | 58,597 | ||||||
| Income tax expense/(benefit) | 24,860 | 13,411 | 22,499 | (18,674 | ) | 16,935 | ||||||
| Net income/(loss) | 77,328 | 47,047 | 71,023 | (61,319 | ) | 41,662 | ||||||
| Preferred stock dividends | 4,312 | 4,313 | 4,312 | 4,313 | 4,312 | |||||||
| Net income/(loss) available to common shareholders | $ | 73,016 | $ | 42,734 | $ | 66,711 | $ | (65,632 | ) | $ | 37,350 | |
| TEXAS CAPITAL BANCSHARES, INC. | ||||||||||||||||||||||||||||||||||
| TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1) | ||||||||||||||||||||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||||||||||||||||
| 2nd Quarter 2025 | 1st Quarter 2025 | 2nd Quarter 2024 | YTD June 30, 2025 | YTD June 30, 2024 | ||||||||||||||||||||||||||||||
| Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | ||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||||||
| Investment securities(2) | $ | 4,573,164 | $ | 45,999 | 3.93 | % | $ | 4,463,876 | $ | 46,565 | 4.10 | % | $ | 4,427,023 | $ | 33,584 | 2.80 | % | $ | 4,518,822 | $ | 92,564 | 4.01 | % | $ | 4,363,195 | $ | 65,728 | 2.79 | % | ||||
| Interest bearing cash and cash equivalents | 2,661,037 | 29,218 | 4.40 | % | 4,255,796 | 46,574 | 4.44 | % | 3,273,069 | 43,233 | 5.31 | % | 3,454,011 | 75,792 | 4.43 | % | 3,662,348 | 97,588 | 5.36 | % | ||||||||||||||
| Loans held for sale | — | — | — | % | 335 | 2 | 2.97 | % | 28,768 | 683 | 9.55 | % | 167 | 2 | 2.97 | % | 39,966 | 1,867 | 9.40 | % | ||||||||||||||
| Loans held for investment, mortgage finance | 5,327,559 | 58,707 | 4.42 | % | 3,972,106 | 38,527 | 3.93 | % | 4,357,288 | 42,722 | 3.94 | % | 4,653,577 | 97,234 | 4.21 | % | 3,937,498 | 74,177 | 3.79 | % | ||||||||||||||
| Loans held for investment(3) | 18,018,626 | 306,142 | 6.81 | % | 17,527,070 | 296,091 | 6.85 | % | 16,750,788 | 301,910 | 7.25 | % | 17,774,206 | 602,233 | 6.83 | % | 16,636,438 | 600,216 | 7.26 | % | ||||||||||||||
| Less: Allowance for credit losses on loans | 278,035 | — | — | % | 272,758 | — | — | 263,145 | — | — | % | 275,411 | — | — | 256,541 | — | — | |||||||||||||||||
| Loans held for investment, net | 23,068,150 | 364,849 | 6.34 | % | 21,226,418 | 334,618 | 6.39 | % | 20,844,931 | 344,632 | 6.65 | % | 22,152,372 | 699,467 | 6.37 | % | 20,317,395 | 674,393 | 6.68 | % | ||||||||||||||
| Total earning assets | 30,302,351 | 440,066 | 5.80 | % | 29,946,425 | 427,759 | 5.76 | % | 28,573,791 | 422,132 | 5.86 | % | 30,125,372 | 867,825 | 5.78 | % | 28,382,904 | 839,576 | 5.87 | % | ||||||||||||||
| Cash and other assets | 1,117,118 | 1,157,184 | 1,177,061 | 1,137,040 | 1,117,763 | |||||||||||||||||||||||||||||
| Total assets | $ | 31,419,469 | $ | 31,103,609 | $ | 29,750,852 | $ | 31,262,412 | $ | 29,500,667 | ||||||||||||||||||||||||
| Liabilities and Stockholders’ Equity | ||||||||||||||||||||||||||||||||||
| Transaction deposits | $ | 2,213,037 | $ | 13,731 | 2.49 | % | $ | 2,163,250 | $ | 13,908 | 2.61 | % | $ | 2,061,622 | $ | 16,982 | 3.31 | % | $ | 2,188,282 | $ | 27,639 | 2.55 | % | $ | 2,034,057 | $ | 33,840 | 3.35 | % | ||||
| Savings deposits | 13,727,095 | 134,272 | 3.92 | % | 13,357,243 | 133,577 | 4.06 | % | 11,981,668 | 143,173 | 4.81 | % | 13,543,190 | 267,849 | 3.99 | % | 11,695,673 | 279,963 | 4.81 | % | ||||||||||||||
| Time deposits | 2,361,525 | 26,795 | 4.55 | % | 2,329,384 | 27,451 | 4.78 | % | 1,658,899 | 21,125 | 5.12 | % | 2,345,543 | 54,246 | 4.66 | % | 1,689,112 | 43,077 | 5.13 | % | ||||||||||||||
| Total interest bearing deposits | 18,301,657 | 174,798 | 3.83 | % | 17,849,877 | 174,936 | 3.97 | % | 15,702,189 | 181,280 | 4.64 | % | 18,077,015 | 349,734 | 3.90 | % | 15,418,842 | 356,880 | 4.65 | % | ||||||||||||||
| Short-term borrowings | 306,176 | 3,444 | 4.51 | % | 751,500 | 8,246 | 4.45 | % | 927,253 | 12,749 | 5.53 | % | 527,608 | 11,690 | 4.47 | % | 919,670 | 25,532 | 5.58 | % | ||||||||||||||
| Long-term debt | 649,469 | 7,930 | 4.90 | % | 660,445 | 8,073 | 4.96 | % | 778,401 | 11,457 | 5.92 | % | 654,927 | 16,003 | 4.93 | % | 818,955 | 25,443 | 6.25 | % | ||||||||||||||
| Total interest bearing liabilities | 19,257,302 | 186,172 | 3.88 | % | 19,261,822 | 191,255 | 4.03 | % | 17,407,843 | 205,486 | 4.75 | % | 19,259,550 | 377,427 | 3.95 | % | 17,157,467 | 407,855 | 4.78 | % | ||||||||||||||
| Non-interest bearing deposits | 8,191,402 | 7,875,244 | 8,647,594 | 8,034,196 | 8,642,685 | |||||||||||||||||||||||||||||
| Other liabilities | 475,724 | 552,154 | 537,754 | 513,728 | 523,520 | |||||||||||||||||||||||||||||
| Stockholders’ equity | 3,495,041 | 3,414,389 | 3,157,661 | 3,454,938 | 3,176,995 | |||||||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 31,419,469 | $ | 31,103,609 | $ | 29,750,852 | $ | 31,262,412 | $ | 29,500,667 | ||||||||||||||||||||||||
| Net interest income | $ | 253,894 | $ | 236,504 | $ | 216,646 | $ | 490,398 | $ | 431,721 | ||||||||||||||||||||||||
| Net interest margin | 3.35 | % | 3.19 | % | 3.01 | % | 3.27 | % | 3.02 | % | ||||||||||||||||||||||||
(1) Taxable equivalent rates used where applicable.
(2) Yields on investment securities are calculated using available-for-sale securities at amortized cost.
(3) Average balances include non-accrual loans.
GAAP TO NON-GAAP RECONCILIATIONS
The following items are non-GAAP financial measures: adjusted non-interest income, adjusted non-interest expense, adjusted net income, adjusted net income available to common stockholders, adjusted pre-provision net revenue (“PPNR”), adjusted diluted earnings/(loss) per common share, adjusted return on average assets, adjusted return on average common equity, adjusted efficiency ratio, adjusted non-interest income to average earning assets and adjusted non-interest expense to average earning assets. These are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The table below provides a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures.
These non-GAAP financial measures are adjusted for certain items, listed below, that management believes are non-operating in nature and not representative of its actual operating performance. Management believes that these non-GAAP financial measures provide meaningful additional information about Texas Capital Bancshares, Inc. to assist management and investors in evaluating operating results, financial strength, business performance and capital position. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. As such, these non-GAAP financial measures should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP.
| Reconciliation of Non-GAAP Financial Measures | |||||||||||||||
| (dollars in thousands except per share data) | 2nd Quarter 2025 | 1st Quarter 2025 | 4th Quarter 2024 | 3rd Quarter 2024 | 2nd Quarter 2024 | ||||||||||
| Net interest income | $ | 253,395 | $ | 236,034 | $ | 229,607 | $ | 240,102 | $ | 216,582 | |||||
| Non-interest income | 54,069 | 44,444 | 54,074 | (114,771 | ) | 50,424 | |||||||||
| Available-for-sale debt securities losses, net | 1,886 | — | — | 179,581 | — | ||||||||||
| Non-interest income, adjusted | 55,955 | 44,444 | 54,074 | 64,810 | 50,424 | ||||||||||
| Non-interest expense | 190,276 | 203,020 | 172,159 | 195,324 | 188,409 | ||||||||||
| FDIC special assessment | — | — | — | 651 | (462 | ) | |||||||||
| Restructuring expenses | (1,401 | ) | — | — | (5,923 | ) | — | ||||||||
| Non-interest expense, adjusted | 188,875 | 203,020 | 172,159 | 190,052 | 187,947 | ||||||||||
| Provision for credit losses | 15,000 | 17,000 | 18,000 | 10,000 | 20,000 | ||||||||||
| Income tax expense/(benefit) | 24,860 | 13,411 | 22,499 | (18,674 | ) | 16,935 | |||||||||
| Tax effect of adjustments | 774 | — | — | 44,880 | 104 | ||||||||||
| Income tax expense/(benefit), adjusted | 25,634 | 13,411 | 22,499 | 26,206 | 17,039 | ||||||||||
| Net income/(loss)(1) | $ | 77,328 | $ | 47,047 | $ | 71,023 | $ | (61,319 | ) | $ | 41,662 | ||||
| Net income/(loss), adjusted(1) | $ | 79,841 | $ | 47,047 | $ | 71,023 | $ | 78,654 | $ | 42,020 | |||||
| Preferred stock dividends | 4,312 | 4,313 | 4,312 | 4,313 | 4,312 | ||||||||||
| Net income/(loss) to common stockholders(2) | $ | 73,016 | $ | 42,734 | $ | 66,711 | $ | (65,632 | ) | $ | 37,350 | ||||
| Net income/(loss) to common stockholders, adjusted(2) | $ | 75,529 | $ | 42,734 | $ | 66,711 | $ | 74,341 | $ | 37,708 | |||||
| PPNR(3) | $ | 117,188 | $ | 77,458 | $ | 111,522 | $ | (69,993 | ) | $ | 78,597 | ||||
| PPNR(3), adjusted | $ | 120,475 | $ | 77,458 | $ | 111,522 | $ | 114,860 | $ | 79,059 | |||||
| Weighted average common shares outstanding, diluted | 46,215,394 | 46,616,704 | 46,770,961 | 46,608,742 | 46,872,498 | ||||||||||
| Diluted earnings/(loss) per common share | $ | 1.58 | $ | 0.92 | $ | 1.43 | $ | (1.41 | ) | $ | 0.80 | ||||
| Diluted earnings/(loss) per common share, adjusted | $ | 1.63 | $ | 0.92 | $ | 1.43 | $ | 1.59 | $ | 0.80 | |||||
| Average total assets | $ | 31,419,469 | $ | 31,103,609 | $ | 32,212,087 | $ | 31,215,173 | $ | 29,750,852 | |||||
| Return on average assets | 0.99 | % | 0.61 | % | 0.88 | % | (0.78 | )% | 0.56 | % | |||||
| Return on average assets, adjusted | 1.02 | % | 0.61 | % | 0.88 | % | 1.00 | % | 0.57 | % | |||||
| Average common equity | $ | 3,195,041 | $ | 3,114,389 | $ | 3,120,933 | $ | 2,945,238 | $ | 2,857,661 | |||||
| Return on average common equity | 9.17 | % | 5.56 | % | 8.50 | % | (8.87 | )% | 5.26 | % | |||||
| Return on average common equity, adjusted | 9.48 | % | 5.56 | % | 8.50 | % | 10.04 | % | 5.31 | % | |||||
| Efficiency ratio(4) | 61.9 | % | 72.4 | % | 60.7 | % | 155.8 | % | 70.6 | % | |||||
| Efficiency ratio, adjusted(4) | 61.1 | % | 72.4 | % | 60.7 | % | 62.3 | % | 70.4 | % | |||||
| Average earning assets | $ | 30,302,351 | $ | 29,946,425 | $ | 31,033,803 | $ | 29,975,318 | $ | 28,573,791 | |||||
| Non-interest income to average earning assets | 0.72 | % | 0.60 | % | 0.69 | % | (1.52 | )% | 0.71 | % | |||||
| Non-interest income to average earning assets, adjusted | 0.74 | % | 0.60 | % | 0.69 | % | 0.86 | % | 0.71 | % | |||||
| Non-interest expense to average earning assets | 2.52 | % | 2.75 | % | 2.21 | % | 2.59 | % | 2.65 | % | |||||
| Non-interest expense to average earning assets, adjusted | 2.50 | % | 2.75 | % | 2.21 | % | 2.52 | % | 2.65 | % | |||||
(1) Net interest income plus non-interest income, less non-interest expense, provision for credit losses and income tax expense/(benefit). On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted, provision for credit losses and income tax expense/(benefit), adjusted.
(2) Net income/(loss), less preferred stock dividends. On an adjusted basis, net income/(loss), adjusted, less preferred stock dividends.
(3) Net interest income plus non-interest income, less non-interest expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted.
(4) Non-interest expense divided by the sum of net interest income and non-interest income. On an adjusted basis, non-interest expense, adjusted, divided by the sum of net interest income and non-interest income, adjusted.
INVESTOR CONTACT Jocelyn Kukulka, 469.399.8544 jocelyn.kukulka@texascapitalbank.com MEDIA CONTACT Julia Monter, 469.399.8425 julia.monter@texascapitalbank.com
FAQ
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