Company: TCBI
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001077428-25-000036
Chunk: 71

Company: TEXAS CAPITAL BANCSHARES INC/TX
Filing Date: 2025-02-11
Form: 10-K
Item: Item 8
Chunk 71
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022(dollars in thousands)AmountRateAmountRateAmountRateU.S. statutory rate$22,483 21 %$51,785 21 %$90,669 21 %State taxes2,539 2 %2,938 1 %6,822 2 %Tax-exempt income(1,471)(1)%(350)— %(1,061)— %Tax credits(1,833)(2)%(855)— %(128)— %Disallowed FDIC2,257 2 %1,863 1 %1,491 — %Disallowed compensation2,022 2 %1,176 — %2,771 1 %Uncertain tax positions recognized2,688 3 %155 — %167 — %Other868 1 %742 — %(1,454)(1)%Total$29,553 28 %$57,454 23 %$99,277 23 %At December 31, 2024, 2023 and 2022, the Company had unrecognized tax benefits of $4.3 million, $1.0 million and $889,000, respectively. If the income tax impacts from these tax positions are ultimately realized, such realization would not have a material impact on the income tax provision or effective tax rate.The Company is no longer subject to U.S. federal income tax examinations for years before 2021 or state and local income tax examinations for years before 2020.

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The table below summarizes significant components of deferred tax assets and liabilities utilizing the applicable federal and state corporate income tax rates. Management believes it is more likely than not that all of the deferred tax assets will be realized. December 31,(in thousands)20242023Deferred tax assets:Allowance for credit losses$73,394 $66,913 Lease liabilities50,852 25,080 Loan origination fees, net14,765 13,377 Stock compensation6,518 6,216 Non-accrual interest2,707 1,672 Deferred compensation5,336 4,672 Net unrealized losses in AOCI53,404 96,229 Other6,108 6,069 Total deferred tax assets213,084 220,228 Deferred tax liabilities:Lease financing transactions(15,262)(9,741)