Business
Texas Capital Bancshares, Inc. Announces Second Quarter 2024 Results
Second quarter 2024 net income of $41.7 million and net income available to common stockholders of $37.4 million, or $0.80 per diluted share Book Value and
About this update from Texas Capital Bancshares, Inc.
[{"type":"text","content":"Second quarter 2024 net income of $41.7 million and net income available to common stockholders of $37.4 million, or $0.80 per diluted share Book Value and Tangible Book Value(1) per share both increased 1.9%, reaching record levels, after giving effect to the repurchase of $50.0 million in shares Capital ratios continue to be strong, including 11.6% CET1 and 15.7% Total Capital DALLAS, July 18, 2024 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the second quarter of 2024. Net income available to common stockholders was $37.4 million, or $0.80 per diluted share, for the second quarter of 2024, compared to $21.8 million, or $0.46 per diluted share, for the first quarter of 2024 and $64.3 million, or $1.33 per diluted share, for the second quarter of 2023. “Building a platform resilient to market and rate cycles is a foundational tenant of our strategic plan,” said Rob C. Holmes, President and CEO. “We continue to deliver differentiated solutions for clients across our markets and areas of industry focus at a pace that exceeds observed market behavior. We remain focused on realizing the clear strategic value of our platform through enhanced financial performance.” FINANCIAL RESULTS (dollars and shares in thousands) 2nd Quarter 1st Quarter 2nd Quarter 2024 2024 2023OPERATING RESULTS Net income$41,662 $26,142 $68,651 Net income available to common stockholders$37,350 $21,829 $64,339 Diluted earnings per common share$0.80 $0.46 $1.33 Diluted common shares 46,872 47,711 48,421 Return on average assets 0.56% 0.36% 0.95%Return on average common equity 5.26% 3.03% 9.17% BALANCE SHEET Loans held for investment$16,700,569 $16,677,691 $16,227,203 Loans held for investment, mortgage finance 5,078,161 4,153,313 5,098,812 Total loans held for investment 21,778,730 20,831,004 21,326,015 Loans held for sale 36,785 37,750 29,097 Total assets 29,854,994 29,180,585 28,976,544 Non-interest bearing deposits 7,987,715 8,478,215 9,429,352 Total deposits 23,818,327 23,954,037 23,318,240 Stockholders’ equity 3,175,601 3,170,662 3,081,927 (1) Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end. SECOND QUARTER 2024 COMPARED TO FIRST QUARTER 2024 For the second quarter of 2024, net income avail...