TEXAS CAPITAL BANCSHARES INCTX
For the period ended Mar 31, 2024. Filed Apr 18, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 18, 2024
TCBI$101.03-2.0%Stored close · as of Nov 6, 2026
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Item 1. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Operating activities | ||
| Net income | $26,142 | $38,661 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
| Provision for credit losses | 19,000 | 28,000 |
| Depreciation and amortization | 10,906 | 8,683 |
| Net gain recognized on investment securities | (4,034) | (1,734) |
| Stock-based compensation expense | 8,534 | 8,438 |
| Proceeds from sales and repayments of loans held for sale | 15,605 | 8,749 |
| Changes in operating assets and liabilities: | ||
| Accrued interest receivable and other assets | 48,253 | (28,286) |
| Accrued interest payable and other liabilities | (28,586) | (44,308) |
| Net cash provided by operating activities | 95,820 | 18,203 |
| Investing activities | ||
| Purchases of available-for-sale debt securities | (596,610) | (849,391) |
| Proceeds from sales of available-for-sale debt securities | — | 56,923 |
| Proceeds from maturities, redemptions and pay-downs of available-for-sale debt securities | 317,717 | 45,716 |
| Proceeds from maturities, redemptions and pay-downs of held-to-maturity debt securities | 17,064 | 17,489 |
| Sales/(purchases) of equity securities, net | (17,628) | 2,487 |
| Originations of loans held for investment, mortgage finance | (16,389,564) | (14,897,110) |
| Proceeds from pay-offs of loans held for investment, mortgage finance | 16,214,579 | 14,926,573 |
| Net increase in loans held for investment, excluding mortgage finance loans | (335,475) | (837,100) |
| Purchase of premises and equipment, net | (20,043) | (1,363) |
| Net cash used in investing activities | (809,960) | (1,535,776) |
| Financing activities | ||
| Net increase/(decrease) in deposits | 1,582,198 | (677,183) |
| Issuance of stock related to stock-based awards | (8,930) | (2,126) |
| Preferred dividends paid | (4,313) | (4,313) |
| Repurchase of common stock | (31,523) | (60,218) |
| Net increase/(decrease) in short-term borrowings | (750,000) | 898,858 |
| Net cash provided by financing activities | 787,432 | 155,018 |
| Net increase/(decrease) in cash and cash equivalents | 73,292 | (1,362,555) |
| Cash and cash equivalents at beginning of period | 3,242,850 | 5,012,260 |
| Cash and cash equivalents at end of period | $3,316,142 | $3,649,705 |
| Supplemental disclosures of cash flow information | ||
| Cash paid during the period for interest | $267,955 | $142,623 |
| Cash paid/(refunded) during the period for income taxes | (909) | 451 |
| Transfers of loans from held for investment to held for sale | 9,250 | — |
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