TEXAS CAPITAL BANCSHARES INCTX
For the period ended Sep 30, 2024. Filed Oct 17, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Oct 17, 2024
TCBI$101.03-2.0%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income and Other Comprehensive Income
CONSOLIDATED STATEMENTS OF INCOME AND OTHER
COMPREHENSIVE INCOME - UNAUDITED
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (in thousands except per share data) | 2024 | 2023 | 2024 | 2023 |
| Interest income | ||||
| Interest and fees on loans | $361,407 | $345,138 | $1,037,537 | $975,443 |
| Investment securities | 38,389 | 27,070 | 104,117 | 79,840 |
| Interest bearing cash and cash equivalents | 52,737 | 53,561 | 150,325 | 157,568 |
| Total interest income | 452,533 | 425,769 | 1,291,979 | 1,212,851 |
| Interest expense | ||||
| Deposits | 190,255 | 160,117 | 547,135 | 417,602 |
| Short-term borrowings | 13,784 | 19,576 | 39,316 | 52,573 |
| Long-term debt | 8,392 | 14,005 | 33,835 | 43,270 |
| Total interest expense | 212,431 | 193,698 | 620,286 | 513,445 |
| Net interest income | 240,102 | 232,071 | 671,693 | 699,406 |
| Provision for credit losses | 10,000 | 18,000 | 49,000 | 53,000 |
| Net interest income after provision for credit losses | 230,102 | 214,071 | 622,693 | 646,406 |
| Non-interest income | ||||
| Service charges on deposit accounts | 6,307 | 5,297 | 18,557 | 15,477 |
| Wealth management and trust fee income | 4,040 | 3,509 | 11,306 | 10,653 |
| Brokered loan fees | 2,400 | 2,532 | 6,442 | 6,842 |
| Investment banking and advisory fees | 34,753 | 23,099 | 78,225 | 56,764 |
| Trading income | 5,786 | 6,092 | 16,148 | 18,693 |
| Available-for-sale debt securities gains/(losses), net | (179,581) | — | (179,581) | 489 |
| Other | 11,524 | 6,343 | 25,875 | 21,368 |
| Total non-interest income | (114,771) | 46,872 | (23,028) | 130,286 |
| Non-interest expense | ||||
| Salaries and benefits | 121,138 | 110,010 | 368,705 | 351,730 |
| Occupancy expense | 12,937 | 9,910 | 33,340 | 29,011 |
| Marketing | 5,863 | 4,757 | 17,895 | 20,168 |
| Legal and professional | 11,135 | 17,614 | 38,603 | 47,797 |
| Communications and technology | 25,951 | 19,607 | 69,078 | 57,655 |
| Federal Deposit Insurance Corporation insurance assessment | 4,906 | 5,769 | 18,897 | 11,632 |
| Other | 13,394 | 12,224 | 39,608 | 37,569 |
| Total non-interest expense | 195,324 | 179,891 | 586,126 | 555,562 |
| Income/(loss) before income taxes | (79,993) | 81,052 | 13,539 | 221,130 |
| Income tax expense/(benefit) | (18,674) | 19,373 | 7,054 | 52,139 |
| Net income/(loss) | (61,319) | 61,679 | 6,485 | 168,991 |
| Preferred stock dividends | 4,313 | 4,313 | 12,938 | 12,938 |
| Net income/(loss) available to common stockholders | $(65,632) | $57,366 | $(6,453) | $156,053 |
| Other comprehensive income/(loss) | ||||
| Change in unrealized gain/(loss) | $109,849 | $(102,330) | $53,567 | $(158,619) |
| Amounts reclassified into net income/(loss) | 199,599 | 19,285 | 239,132 | 48,531 |
| Other comprehensive income/(loss) | 309,448 | (83,045) | 292,699 | (110,088) |
| Income tax expense/(benefit) | 69,873 | (17,441) | 58,852 | (23,119) |
| Other comprehensive income/(loss), net of tax | 239,575 | (65,604) | 233,847 | (86,969) |
| Comprehensive income/(loss) | $178,256 | $(3,925) | $240,332 | $82,022 |
| Basic earnings/(loss) per common share | $(1.42) | $1.19 | $(0.14) | $3.24 |
| Diluted earnings/(loss) per common share | $(1.41) | $1.18 | $(0.14) | $3.20 |
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 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 |
| Comprehensive income/(loss): | ||||||||||
| Net income | — | — | — | — | — | 61,679 | — | — | — | 61,679 |
| Change in other comprehensive income/(loss), net of taxes | — | — | — | — | — | — | — | — | (65,604) | (65,604) |
| Total comprehensive loss | (3,925) | |||||||||
| Stock-based compensation expense recognized in earnings | — | — | — | — | 4,441 | — | — | — | — | 4,441 |
| Preferred stock dividend | — | — | — | — | — | (4,313) | — | — | — | (4,313) |
| Issuance of stock related to stock-based awards | — | — | 22,482 | — | (430) | — | — | — | — | (430) |
| Balance at September 30, 2023 | 300,000 | $300,000 | 51,110,447 | $511 | $1,039,074 | $2,419,555 | (3,095,444) | $(175,528) | $(505,912) | $3,077,700 |
| 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 |
| Comprehensive income/(loss): | ||||||||||
| Net loss | — | — | — | — | — | (61,319) | — | — | — | (61,319) |
| Change in other comprehensive income/(loss), net of taxes | — | — | — | — | — | — | — | — | 239,575 | 239,575 |
| Total comprehensive income | 178,256 | |||||||||
| Stock-based compensation expense recognized in earnings | — | — | — | — | 4,957 | — | — | — | — | 4,957 |
| Preferred stock dividend | — | — | — | — | — | (4,313) | — | — | — | (4,313) |
| Issuance of stock related to stock-based awards | — | — | 19,679 | — | (457) | — | — | — | — | (457) |
| Balance at September 30, 2024 | 300,000 | $300,000 | 51,494,260 | $515 | $1,054,614 | $2,428,940 | (5,286,503) | $(301,868) | $(128,157) | $3,354,044 |
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 | — | — | — | — | — | 168,991 | — | — | — | 168,991 |
| Change in other comprehensive income/(loss), net of taxes | — | — | — | — | — | — | — | — | (86,969) | (86,969) |
| Total comprehensive income | 82,022 | |||||||||
| Stock-based compensation expense recognized in earnings | — | — | — | — | 17,948 | — | — | — | — | 17,948 |
| Preferred stock dividend | — | — | — | — | — | (12,938) | — | — | — | (12,938) |
| Issuance of stock related to stock-based awards | — | — | 243,149 | 2 | (4,467) | — | — | — | — | (4,465) |
| Repurchase of common stock | — | — | — | — | — | — | (1,011,909) | (60,218) | — | (60,218) |
| Balance at September 30, 2023 | 300,000 | $300,000 | 51,110,447 | $511 | $1,039,074 | $2,419,555 | (3,095,444) | $(175,528) | $(505,912) | $3,077,700 |
| 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 | — | — | — | — | — | 6,485 | — | — | — | 6,485 |
| Change in other comprehensive income/(loss), net of taxes | — | — | — | — | — | — | — | — | 233,847 | 233,847 |
| Total comprehensive income | 240,332 | |||||||||
| Stock-based compensation expense recognized in earnings | — | — | — | — | 18,229 | — | — | — | — | 18,229 |
| Preferred stock dividend | — | — | — | — | — | (12,938) | — | — | — | (12,938) |
| Issuance of stock related to stock-based awards | — | — | 351,281 | 4 | (9,191) | — | — | — | — | (9,187) |
| Repurchase of common stock | — | — | — | — | — | — | (1,381,436) | (81,534) | — | (81,534) |
| Balance at September 30, 2024 | 300,000 | $300,000 | 51,494,260 | $515 | $1,054,614 | $2,428,940 | (5,286,503) | $(301,868) | $(128,157) | $3,354,044 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.