Business
Texas Capital Bancshares, Inc. Reports Fourth Quarter and Full Year 2021 Results
Fourth quarter 2021 net income of $65.1 million, or $1.19 per diluted share Continued improvement in credit quality drove a provision release of $10.0 million
About this update from Texas Capital Bancshares, Inc.
[{"type":"text","content":"Fourth quarter 2021 net income of $65.1 million, or $1.19 per diluted share Continued improvement in credit quality drove a provision release of $10.0 million Necessary regulatory approvals obtained for launch of Texas Capital Securities Full year 2021 net income of $253.9 million, or $4.60 per diluted share DALLAS, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI) (the “Company”), the parent company of Texas Capital Bank, today reported results for the fourth quarter and full year of 2021. Net income was $65.1 million, or $1.19 per diluted share, for the fourth quarter of 2021, compared to $43.4 million, or $0.76 per diluted share, for the third quarter of 2021 and $60.2 million, or $1.14 per diluted share, for the fourth quarter of 2020. Full year 2021 net income was $253.9 million, or $4.60 per diluted share, compared to $66.3 million, or $1.12 per diluted share, for full year 2020. “This quarter’s results conclude a year full of new initiatives and accomplishments designed to best position the Company for yet another important year ahead,” said Rob C. Holmes, President and CEO. “Our entire team is poised to continue delivering on our goals outlined in September. With our organizational discipline improving and financial results trending favorably, I am confident we will continue realizing progress towards our vision of becoming the flagship financial services firm headquartered in Texas.” FINANCIAL RESULTS (dollars and shares in thousands) 4th Quarter 3rd Quarter 4th Quarter Full Year Full Year 2021 2021 2020 2021 2020OPERATING RESULTS Net income$65,130 $43,390 $60,176 $253,939 $66,289 Net income available to common stockholders$60,817 $39,078 $57,739 $235,218 $56,539 Diluted earnings per common share$1.19 $0.76 $1.14 $4.60 $1.12 Diluted common shares 51,208 51,140 50,794 51,141 50,583 Return on average assets 0.69% 0.47% 0.61% 0.67% 0.18%Return on average common equity 8.36% 5.41% 8.50% 8.35% 2.10% BALANCE SHEET Loans held for investment (“LHI”)$15,331,457 $15,221,404 $15,351,451 LHI, mortgage finance 7,475,497 8,528,313 9,079,409 Total LHI 22,806,954 23,749,717 24,430,860 Loans held for sale (“LHS”) 8,123 9,660 283,165 Total assets 34,731,738 36,404,320 37,726,096 Demand deposits 13,390,370 14,970,462 12,740,947 Total deposits 28,109,365 29,813,668 30,996,589 Stockholders’ equity 3,209,616 3,1...