Business
Texas Capital Bancshares, Inc. Announces Fourth Quarter and Full Year 2023 Results
Fourth quarter 2023 net income of $20.2 million and net income available to common stockholders of $15.8 million, or $0.33 per diluted share Book Value and
About this update from Texas Capital Bancshares, Inc.
[{"type":"text","content":"Fourth quarter 2023 net income of $20.2 million and net income available to common stockholders of $15.8 million, or $0.33 per diluted share Book Value and Tangible Book Value(1) per share both increased 6.1%, reaching record levels, after giving effect to the repurchase of $44.8 million in shares Capital ratios continue to be strong, including 12.6% CET1 and 17.1% Total Capital DALLAS, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the fourth quarter and full year of 2023. Net income available to common stockholders was $15.8 million, or $0.33 per diluted share, for the fourth quarter of 2023, compared to $57.4 million, or $1.18 per diluted share, for the third quarter of 2023 and $212.9 million, or $4.23 per diluted share, for the fourth quarter of 2022. The fourth quarter of 2023 included Federal Deposit Insurance Corporation (“FDIC”) special assessment expense of $19.9 million ($0.32 per diluted share). “The firm continued to execute on its strategic plan to deliver something unique and differentiated for our clients in the midst of tremendous industry pressure in 2023,” said Rob C. Holmes, President and CEO. “Continued client adoption of our broad platform coupled with significant structural improvements in our operating model and near record levels of capital and liquidity provide the foundation for long-term value creation.” FINANCIAL RESULTS (dollars and shares in thousands) 4th Quarter 3rd Quarter 4th Quarter Full Year Full Year 2023 2023 2022 2023 2022 OPERATING RESULTS Net income$20,150 $61,679 $217,251 $189,141 $332,478 Net income available to common stockholders$15,838 $57,366 $212,939 $171,891 $315,228 Diluted earnings per common share$0.33 $1.18 $4.23 $3.54 $6.18 Diluted common shares 48,098 48,529 50,283 48,610 51,047 Return on average assets 0.27% 0.81% 2.80% 0.64% 1.04%Return on average common equity 2.25% 8.08% 30.66% 6.15% 11.33% BALANCE SHEET Loans held for investment$16,362,230 $16,183,882 $15,197,307 Loans held for investment, mortgage finance 3,978,328 4,429,489 4,090,033 Total loans held for investment 20,340,558 20,613,371 19,287,340 Loans held for sale 44,105 155,073 36,357 Total assets 28,356,266 29,628,249 28,414,642 Non-interest bearing deposits 7,328,276 9,352,883 9,618,081 Total deposits 22,...