Texas Capital Bancshares Q3 2024 10-Q Filed

TL;DR

**TCBI Q3 10-Q is IN! Check financials for latest performance.**

AI Summary

Texas Capital Bancshares Inc./TX filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and disclosures relevant to investors are presented in this report.

Why It Matters

This 10-Q filing provides investors with crucial financial data and operational insights into Texas Capital Bancshares' performance for the third quarter of 2024, impacting investment decisions.

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

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-10-17 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2023-12-31 — Previous Year End Date (Provides a point of comparison for year-end financial status.)

Key Players & Entities

• Texas Capital Bancshares Inc./TX (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-17 (date) — Filing date
• Dallas, TX (location) — Company headquarters

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-20240930.htm (10-Q) — 2450KB
• secondamendedandrestatedem.htm (EX-10.1) — 200KB
• ex311-930202410q.htm (EX-31.1) — 10KB
• ex312-930202410q.htm (EX-31.2) — 9KB
• ex321-930202410q.htm (EX-32.1) — 4KB
• ex322-930202410q.htm (EX-32.2) — 4KB
• 0001077428-24-000181.txt ( ) — 12150KB
• tcbi-20240930.xsd (EX-101.SCH) — 46KB
• tcbi-20240930_cal.xml (EX-101.CAL) — 93KB
• tcbi-20240930_def.xml (EX-101.DEF) — 360KB
• tcbi-20240930_lab.xml (EX-101.LAB) — 666KB
• tcbi-20240930_pre.xml (EX-101.PRE) — 507KB
• tcbi-20240930_htm.xml (XML) — 2629KB

—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) September 30, 2024 December 31, 2023 Assets Cash and due from banks $ 297,048 $ 200,493 Interest bearing cash and cash equivalents 3,894,537 3,042,357 Available-for-sale debt securities 3,518,662 3,225,892 Held-to-maturity debt securities 812,432 865,477 Equity securities 74,426 51,825 Investment securities 4,405,520 4,143,194 Loans held for sale 9,022 44,105 Loans held for investment, mortgage finance 5,529,659 3,978,328 Loans held for investment 16,764,512 16,362,230 Less: Allowance for credit losses on loans 273,143 249,973 Loans held for investment, net 22,021,028 20,090,585 Premises and equipment, net 81,577 32,366 Accrued interest receivable and other assets 919,071 801,670 Goodwill and intangibles, net 1,496 1,496 Total assets $ 31,629,299 $ 28,356,266 Liabilities and Stockholders' Equity Liabilities: Non-interest bearing deposits $ 9,070,804 $ 7,328,276 Interest bearing deposits 16,794,451 15,043,563 Total deposits 25,865,255 22,371,839 Accrued interest payable 18,679 33,234 Other liabilities 696,149 392,904 Short-term borrowings 1,035,000 1,500,000 Long-term debt 660,172 859,147 Total liabilities 28,275,255 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 September 30, 2024 and December 31, 2023 300,000 300,000 Common stock, $ 0.01 par value: Authorized shares - 100,000,000 Issued shares - 51,494,260 and 51,142,979 at September 30, 2024 and December 31, 2023, respectively 515 511 Additional paid-in capital 1,054,614 1,045,576 Retained earnings 2,428,940 2,435,393 Treasury stock - 5,286,503 and 3,905,067 shares at cost at September 30, 2024 and December 31, 2023, respectively ( 301,868 ) ( 220,334 ) Accumulated other comprehensive loss, net of taxes ( 128,157 ) ( 362,004 ) Tot

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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