Texas Capital Bancshares Q2 2024 10-Q Filed

TL;DR

**TCBI files Q2 10-Q. Financials out.**

AI Summary

Texas Capital Bancshares Inc./TX filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures relevant to investors and stakeholders are presented.

Why It Matters

This filing provides investors with the latest financial health and performance metrics for Texas Capital Bancshares, crucial for understanding its current standing and future prospects.

Risk Assessment

Risk Level: medium — As a financial institution, Texas Capital Bancshares is subject to various market, credit, and regulatory risks inherent in the banking sector.

Key Numbers

• 20240630 — Report Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20240718 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 1231 — Fiscal Year End (Specifies the end of the company's annual fiscal year.)

Key Players & Entities

• Texas Capital Bancshares Inc./TX (company) — Filer of the 10-Q
• 2000 MCKINNEY AVE SUITE 700 DALLAS TX 75201 (location) — Business and mailing address
• 2149326600 (phone_number) — Business phone number

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-20240630.htm (10-Q) — 2447KB
• ex311-630202410q.htm (EX-31.1) — 10KB
• ex312-630202410q.htm (EX-31.2) — 9KB
• ex321-630202410q.htm (EX-32.1) — 4KB
• ex322-630202410q.htm (EX-32.2) — 4KB
• 0001077428-24-000146.txt ( ) — 11847KB
• tcbi-20240630.xsd (EX-101.SCH) — 46KB
• tcbi-20240630_cal.xml (EX-101.CAL) — 89KB
• tcbi-20240630_def.xml (EX-101.DEF) — 358KB
• tcbi-20240630_lab.xml (EX-101.LAB) — 654KB
• tcbi-20240630_pre.xml (EX-101.PRE) — 499KB
• tcbi-20240630_htm.xml (XML) — 2639KB

—Financial Information

Part I.—Financial Information

Financial Statements - Unaudited

Item 1. Financial Statements - Unaudited 3 Consolidated Balance Sheets 3 Consolidated Statements of Income and Other Comprehensive Income 4 Consolidated Statements of Stockholders' Equity 5 Consolidated Statements of Cash Flows 7

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 36

—Other Information

Part II.—Other Information

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37

Exhibits

Item 6. Exhibits 38

Signatures

Signatures 39 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS TEXAS CAPITAL BANCSHARES, INC. CONSOLIDATED BALANCE SHEETS - UNAUDITED (in thousands except share data) June 30, 2024 December 31, 2023 Assets Cash and due from banks $ 221,727 $ 200,493 Interest bearing cash and cash equivalents 2,691,352 3,042,357 Available-for-sale debt securities 3,483,231 3,225,892 Held-to-maturity debt securities 831,513 865,477 Equity securities 74,232 51,825 Investment securities 4,388,976 4,143,194 Loans held for sale 36,785 44,105 Loans held for investment, mortgage finance 5,078,161 3,978,328 Loans held for investment 16,700,569 16,362,230 Less: Allowance for credit losses on loans 267,297 249,973 Loans held for investment, net 21,511,433 20,090,585 Premises and equipment, net 69,464 32,366 Accrued interest receivable and other assets 933,761 801,670 Goodwill and intangibles, net 1,496 1,496 Total assets $ 29,854,994 $ 28,356,266 Liabilities and Stockholders' Equity Liabilities: Non-interest bearing deposits $ 7,987,715 $ 7,328,276 Interest bearing deposits 15,830,612 15,043,563 Total deposits 23,818,327 22,371,839 Accrued interest payable 23,841 33,234 Other liabilities 502,228 392,904 Short-term borrowings 1,675,000 1,500,000 Long-term debt 659,997 859,147 Total liabilities 26,679,393 25,157,124 Stockholders' equity: Preferred stock, $ 0.01 par value, $ 1,000 liquidation value: Authorized shares - 10,000,000 Issued shares - 300,000 at June 30, 2024 and December 31, 2023 300,000 300,000 Common stock, $ 0.01 par value: Authorized shares - 100,000,000 Issued shares - 51,474,581 and 51,142,979 at June 30, 2024 and December 31, 2023, respectively 515 511 Additional paid-in capital 1,050,114 1,045,576 Retained earnings 2,494,572 2,435,393 Treasury stock - 5,286,503 and 3,905,067 shares at cost at June 30, 2024 and December 31, 2023, respectively ( 301,868 ) ( 220,334 ) Accumulated other comprehensive loss, net of taxes ( 367,732 ) ( 362,004 ) Total stockholders' eq

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - UNAUDITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - UNAUDITED (1) Operations and Summary of Significant Accounting Policies Organization and Nature of Business Texas Capital Bancshares, Inc. ("TCBI" or the "Company"), a Delaware corporation, was incorporated in 1996 and commenced banking operations in 1998. The consolidated financial statements include the accounts of TCBI and its wholly owned subsidiary, Texas Capital Bank (the "Bank"). TCBI is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. The Company 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. Basis of Presentation The Company's accounting and reporting policies conform to accounting principles generally accepted in the United States ("GAAP") and to generally accepted practices within the banking industry. Certain prior period balances have been reclassified to conform to the current period presentation. The consolidated interim financial statements are unaudited, and certain information and disclosures in the notes to consolidated unaudited financial statements that are presented in accordance with GAAP have been condensed or omitted. In the opinion of management, the interim financial statements include all normal and recurring adjustments and the disclosures made present a fair presentation of the Company's financial position and results of operations. The consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q adopted by the U.S. Securities and Exchange Commission ("SEC"). Accordingly, the financial statements and the notes to the consolidated unaudited financial statements required by GAAP for complete annual financial statements do not include all of the information and should be read in conjunction with the consolidat

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View this 10-Q filing on SEC EDGAR