Texas Capital Bancshares Files 2024 10-K

TL;DR

TCBI dropped its 2024 10-K. Full financials out.

AI Summary

Texas Capital Bancshares Inc./TX filed its 2024 10-K on February 11, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The company, a commercial bank, is headquartered in Dallas, Texas, and operates under SIC code 6022. The filing provides comprehensive financial data and disclosures as required by the SEC.

Why It Matters

This 10-K filing provides investors and analysts with a detailed overview of Texas Capital Bancshares' financial health, operational performance, and risk factors for the 2024 fiscal year.

Risk Assessment

Risk Level: medium — As a commercial bank, Texas Capital Bancshares is subject to various financial and regulatory risks inherent in the banking industry.

Key Players & Entities

• Texas Capital Bancshares Inc./TX (company) — Filer of the 10-K
• 20241231 (date) — Fiscal year end
• 20250211 (date) — Filing date
• Dallas, TX (location) — Company headquarters and mailing address
• 6022 (number) — Standard Industrial Classification (SIC) code for Commercial Banks

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share TCBI Nasdaq Stock Market 5.7

Filing Documents

• tcbi-20241231.htm (10-K) — 3352KB
• ex191securitiestradinginsi.htm (EX-19.1) — 85KB
• ex21-subsidiariesoftheregi.htm (EX-21) — 6KB
• ex231consent12312024.htm (EX-23.1) — 7KB
• ex311-202410k.htm (EX-31.1) — 10KB
• ex312-202410k.htm (EX-31.2) — 9KB
• ex321-202410k.htm (EX-32.1) — 4KB
• ex322-202410k.htm (EX-32.2) — 4KB
• tcbi-20241231_g1.jpg (GRAPHIC) — 102KB
• 0001077428-25-000036.txt ( ) — 17675KB
• tcbi-20241231.xsd (EX-101.SCH) — 81KB
• tcbi-20241231_cal.xml (EX-101.CAL) — 181KB
• tcbi-20241231_def.xml (EX-101.DEF) — 508KB
• tcbi-20241231_lab.xml (EX-101.LAB) — 1115KB
• tcbi-20241231_pre.xml (EX-101.PRE) — 842KB
• tcbi-20241231_htm.xml (XML) — 3560KB

Forward-Looking Statements

Forward-Looking Statements 3

Risk Factors

Item 1A. Risk Factors 15

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 29

Cybersecurity

Item 1C. Cybersecurity 29

Properties

Item 2. Properties 31

Legal Proceedings

Item 3. Legal Proceedings 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32

Reserved

Item 6. Reserved 33

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 34

Quantitative and Qualitative Disclosure About Market Risk

Item 7A. Quantitative and Qualitative Disclosure About Market Risk 47

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 49

Changes in and Disagreements with Accountants on Accounting and Financial Disclosures

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 84

Controls and Procedures

Item 9A. Controls and Procedures 84

Other Information

Item 9B. Other Information 87

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 87 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 87

Executive Compensation

Item 11. Executive Compensation 87

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 87

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 87

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 87 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 87 2

Forward-Looking Statements

Forward-Looking Statements Certain statements and financial analysis contained in this report that are not historical facts may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs, assumptions and expectations of future performance taking into account all information available to us at the time such statements are made. Forward-looking statements 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, guidance, expectations and future plans. Forward-looking statements may include, among other things and without limitation, statements about the credit quality of loan portfolio, liquidity, general economic conditions in the United States and in the Company's markets, including with respect to interest rates and the market generally, the material risks and uncertainties for the U.S. and world economies, and for the business, expectations regarding rates of default and loan losses, volatility in the mortgage industry, business strategies (including new lines of business, products and services) and expectations about future financial performance, future growth and earnings, the appropriateness of the allowance for credit losses and provision for credit losses, the impact of changing regulatory requirements and legislative changes on the business, increased competition, and technologies (including new technologies and information security risks). Forward-looking statements are subject to various risks and uncertainties, which change over time, are based on management's expectations and assumptions at the time the statements are made and are not guarantees of f

BUSINESS

ITEM 1. BUSINESS Background Texas Capital Bancshares, Inc. ("TCBI" or the "Company") is a registered bank holding company and a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. TCBI is headquartered in Dallas, with primary banking offices in Austin, Dallas, Fort Worth, Houston and San Antonio, and has built a network of clients across the country. The Company's business activities are conducted primarily through its wholly-owned bank subsidiary Texas Capital Bank (the "Bank") and its wholly-owned non-bank subsidiary, TCBI Securities Inc. ("TCBI Securities"). The Bank is a Texas state-chartered bank. TCBI Securities is a registered broker-dealer with the U.S. Securities and Exchange Commission ("SEC") and a member of the Financial Industry Regulatory Authority ("FINRA") and Municipal Securities Rulemaking Board ("MSRB"). The Company was incorporated as a Delaware corporation in 1996 and commenced banking operations in 1998. Business Strategy and Markets The Company was founded with an entrepreneurial culture and a mission to build a commercial banking presence across Texas. Drawing on the banking experience and business and community ties of management, the Company's strategy has evolved to become a Texas-based full-service financial services firm that can seamlessly serve the best clients in its markets through the entirety of their life cycles. A core tenet of this strategy is the maintenance of financial resiliency through market and rate cycles enabling the Company to serve its clients, access markets, and support its communities through changing market conditions. The Company is well positioned with a wide range of relevant products and services and seeks to maintain best-in-class levels of liquidity, credit reserves and capital. Competition The Company's business is concentrated in Texas which is a highly competitive market for banking services. TCBI competes with national, re

View Full Filing

View this 10-K filing on SEC EDGAR