Business
Texas Capital Bancshares, Inc. Announces Second Quarter 2022 Results
Second quarter 2022 net income of $34.2 million and net income available to commonstockholders of $29.8 million, or $0.59 per diluted share Pre-Provision Net
About this update from Texas Capital Bancshares, Inc.
[{"type":"text","content":"Second quarter 2022 net income of $34.2 million and net income available to commonstockholders of $29.8 million, or $0.59 per diluted share Pre-Provision Net Revenue(1) grew $16.7 million (33%) linked quarter Total loans held for investment increased $2.4 billion (11%) linked quarter DALLAS, July 21, 2022 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the second quarter of 2022. Net income available to common stockholders was $29.8 million, or $0.59 per diluted share, for the second quarter of 2022, compared to $35.3 million, or $0.69 per diluted share, for the first quarter of 2022 and $67.2 million, or $1.31 per diluted share, for the second quarter of 2021. “We continue to execute on our strategic vision laid out nearly eleven months ago and are pleased with the early progress evidenced by strong revenue growth in our second quarter results,” said Rob C. Holmes, President and CEO. “The launch of our sales and trading platform in early May, and the restructuring and significant investment in C&I, demonstrate our commitment to delivering a full-service offering worthy of banking premier clients in our markets.” FINANCIAL RESULTS (dollars and shares in thousands) 2nd Quarter 1st Quarter 2nd Quarter 2022 2022 2021 OPERATING RESULTS Net income$34,159 $39,650 $73,481 Net income available to common stockholders$29,847 $35,337 $67,164 Diluted earnings per common share$0.59 $0.69 $1.31 Diluted common shares 50,802 51,324 51,094 Return on average assets 0.44% 0.47% 0.76%Return on average common equity 4.35% 4.97% 9.74% BALANCE SHEET Loans held for investment$17,517,866 $15,849,434 $15,168,565 Loans held for investment, mortgage finance 6,549,507 5,827,965 8,772,799 Total loans held for investment 24,067,373 21,677,399 23,941,364 Loans held for sale 4,266 8,085 63,747 Total assets 32,338,963 31,085,377 35,228,542 Non-interest bearing deposits 12,555,367 13,434,723 14,228,038 Total deposits 25,440,021 25,377,938 28,839,563 Stockholders’ equity 3,006,832 3,090,038 3,114,957 (1) Net interest income and non-interest income, less non-interest expense. SECOND QUARTER 2022 COMPARED TO FIRST QUARTER 2022 For the second quarter of 2022, net income available to common stockholders was $29.8 million, or $0.59 per diluted share, compared to $35.3 million, ...