TEXAS CAPITAL BANCSHARES INCTX

For the period ended Jun 30, 2024. Filed Jul 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.

Jun 30, 2024 · Filed Jul 18, 2024

TCBI$101.03-2.0%Stored close · as of Nov 6, 2026

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Contents

Consolidated Statements of Income and Other Comprehensive Income

CONSOLIDATED STATEMENTS OF INCOME AND OTHER

COMPREHENSIVE INCOME - UNAUDITED

	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands except per share data)	2024	2023	2024	2023
Interest income
Interest and fees on loans	$345,251	$332,867	$676,130	$630,305
Investment securities	33,584	27,478	65,728	52,770
Interest bearing cash and cash equivalents	43,233	41,571	97,588	104,007
Total interest income	422,068	401,916	839,446	787,082
Interest expense
Deposits	181,280	137,391	356,880	257,485
Short-term borrowings	12,749	18,253	25,532	32,997
Long-term debt	11,457	14,282	25,443	29,265
Total interest expense	205,486	169,926	407,855	319,747
Net interest income	216,582	231,990	431,591	467,335
Provision for credit losses	20,000	7,000	39,000	35,000
Net interest income after provision for credit losses	196,582	224,990	392,591	432,335
Non-interest income
Service charges on deposit accounts	5,911	5,158	12,250	10,180
Wealth management and trust fee income	3,699	3,715	7,266	7,144
Brokered loan fees	2,131	2,415	4,042	4,310
Investment banking and advisory fees	25,048	19,101	43,472	33,665
Trading income	5,650	8,397	10,362	12,601
Other	7,985	7,225	14,351	15,514
Total non-interest income	50,424	46,011	91,743	83,414
Non-interest expense
Salaries and benefits	118,840	113,050	247,567	241,720
Occupancy expense	10,666	9,482	20,403	19,101
Marketing	5,996	6,367	12,032	15,411
Legal and professional	11,273	15,669	27,468	30,183
Communications and technology	22,013	20,525	43,127	38,048
Federal Deposit Insurance Corporation insurance assessment	5,570	3,693	13,991	5,863
Other	14,051	12,858	26,214	25,345
Total non-interest expense	188,409	181,644	390,802	375,671
Income before income taxes	58,597	89,357	93,532	140,078
Income tax expense	16,935	20,706	25,728	32,766
Net income	41,662	68,651	67,804	107,312
Preferred stock dividends	4,312	4,312	8,625	8,625
Net income available to common stockholders	$37,350	$64,339	$59,179	$98,687
Other comprehensive income/(loss)
Change in unrealized gain/(loss)	$(13,939)	$(99,731)	$(56,282)	$(56,778)
Amounts reclassified into net income	19,825	16,762	39,533	29,735
Other comprehensive income/(loss)	5,886	(82,969)	(16,749)	(27,043)
Income tax expense/(benefit)	(6,268)	(17,423)	(11,021)	(5,678)
Other comprehensive income/(loss), net of tax	12,154	(65,546)	(5,728)	(21,365)
Comprehensive income	$53,816	$3,105	$62,076	$85,947
Basic earnings per common share	$0.80	$1.34	$1.26	$2.05
Diluted earnings per common share	$0.80	$1.33	$1.25	$2.02

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - UNAUDITED

Preferred Stock · Common Stock · Additional · Treasury Stock · Accumulated Other
Paid-in · Retained · Comprehensive
(in thousands except share data)	Shares	Amount	Shares	Amount	Capital	Earnings	Shares	Amount	Income/(Loss)	Total
Balance at March 31, 2023	300,000	$300,000	50,947,306	$509	$1,031,905	$2,297,850	(3,095,444)	$(175,528)	$(374,762)	$3,079,974
Comprehensive income/(loss):
Net income	—	—	—	—	—	68,651	—	—	—	68,651
Change in other comprehensive income/(loss), net of taxes	—	—	—	—	—	—	—	—	(65,546)	(65,546)
Total comprehensive income							3,105
Stock-based compensation expense recognized in earnings	—	—	—	—	5,069	—	—	—	—	5,069
Preferred stock dividend	—	—	—	—	—	(4,312)	—	—	—	(4,312)
Issuance of stock related to stock-based awards	—	—	140,659	2	(1,911)	—	—	—	—	(1,909)
Balance at June 30, 2023	300,000	$300,000	51,087,965	$511	$1,035,063	$2,362,189	(3,095,444)	$(175,528)	$(440,308)	$3,081,927
Balance at March 31, 2024	300,000	$300,000	51,420,680	$514	$1,044,669	$2,457,222	(4,434,405)	$(251,857)	$(379,886)	$3,170,662
Comprehensive income/(loss):
Net income	—	—	—	—	—	41,662	—	—	—	41,662
Change in other comprehensive income/(loss), net of taxes	—	—	—	—	—	—	—	—	12,154	12,154
Total comprehensive income							53,816
Stock-based compensation expense recognized in earnings	—	—	—	—	5,246	—	—	—	—	5,246
Preferred stock dividend	—	—	—	—	—	(4,312)	—	—	—	(4,312)
Issuance of stock related to stock-based awards	—	—	53,901	1	199	—	—	—	—	200
Repurchase of common stock	—	—	—	—	—	—	(852,098)	(50,011)	—	(50,011)
Balance at June 30, 2024	300,000	$300,000	51,474,581	$515	$1,050,114	$2,494,572	(5,286,503)	$(301,868)	$(367,732)	$3,175,601

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - UNAUDITED

Preferred Stock · Common Stock · Additional · Treasury Stock · Accumulated Other
Paid-in · Retained · Comprehensive
(in thousands except share data)	Shares	Amount	Shares	Amount	Capital	Earnings	Shares	Amount	Income/(Loss)	Total
Balance at December 31, 2022 (audited)	300,000	$300,000	50,867,298	$509	$1,025,593	$2,263,502	(2,083,535)	$(115,310)	$(418,943)	$3,055,351
Comprehensive income/(loss):
Net income	—	—	—	—	—	107,312	—	—	—	107,312
Change in other comprehensive income/(loss), net of taxes	—	—	—	—	—	—	—	—	(21,365)	(21,365)
Total comprehensive income							85,947
Stock-based compensation expense recognized in earnings	—	—	—	—	13,507	—	—	—	—	13,507
Preferred stock dividend	—	—	—	—	—	(8,625)	—	—	—	(8,625)
Issuance of stock related to stock-based awards	—	—	220,667	2	(4,037)	—	—	—	—	(4,035)
Repurchase of common stock	—	—	—	—	—	—	(1,011,909)	(60,218)	—	(60,218)
Balance at June 30, 2023	300,000	$300,000	51,087,965	$511	$1,035,063	$2,362,189	(3,095,444)	$(175,528)	$(440,308)	$3,081,927
Balance at December 31, 2023 (audited)	300,000	$300,000	51,142,979	$511	$1,045,576	$2,435,393	(3,905,067)	$(220,334)	$(362,004)	$3,199,142
Comprehensive income/(loss):
Net income	—	—	—	—	—	67,804	—	—	—	67,804
Change in other comprehensive income/(loss), net of taxes	—	—	—	—	—	—	—	—	(5,728)	(5,728)
Total comprehensive income							62,076
Stock-based compensation expense recognized in earnings	—	—	—	—	13,272	—	—	—	—	13,272
Preferred stock dividend	—	—	—	—	—	(8,625)	—	—	—	(8,625)
Issuance of stock related to stock-based awards	—	—	331,602	4	(8,734)	—	—	—	—	(8,730)
Repurchase of common stock	—	—	—	—	—	—	(1,381,436)	(81,534)	—	(81,534)
Balance at June 30, 2024	300,000	$300,000	51,474,581	$515	$1,050,114	$2,494,572	(5,286,503)	$(301,868)	$(367,732)	$3,175,601

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.