Company: TCBI
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001077428-25-000036
Chunk: 74

Company: TEXAS CAPITAL BANCSHARES INC/TX
Filing Date: 2025-02-11
Form: 10-K
Item: Item 8
Chunk 74
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 to 6.66 years. On a combined amortized cost weighted-average basis a discount rate of 5.63% and a weighted-average life of 5.35 years were utilized to determine the fair value of these securities at December 31, 2024. At December 31, 2023, the combined weighted-average discount rate and weighted-average life utilized were 6.57% and 6.06 years, respectively.Loans held for investmentCertain collateral-dependent loans held for investment are reported at fair value when, based upon an individual evaluation, the specific allocation of the allowance for credit losses that is deducted from the loan's amortized cost is based upon the fair value of the loan's underlying collateral. The $35.3 million fair value of loans held for investment at December 31, 2024 reported above includes impaired loans with a carrying value of $63.6 million that were reduced by specific allowance allocations totaling $28.3 million based on collateral valuations utilizing Level 3 inputs. The $38.3 million fair value of loans held for investment at December 31, 2023 reported above includes impaired loans with a carrying value of $58.3 million that were reduced by specific allowance allocations totaling $20.0 million based on collateral valuations utilizing Level 3 inputs. Fair Value of Financial InstrumentsA summary of the carrying amounts and estimated fair values of financial instruments is as follows:CarryingAmountEstimated Fair Value(in thousands)TotalLevel 1Level 2Level 3December 31, 2024Financial assets:Cash and cash equivalents$3,188,808 $3,188,808 $3,188,808 $— $— Available-for-sale debt securities3,524,686 3,524,686 277,285 3,235,475 11,926 Held-to-maturity debt securities796,168 678,174 — 678,174 — Equity securities75,261 75,261 59,235 16,026 — Loans held for investment, net22,178,357 22,115,585 — — 22,115,585 Derivative assets23,202 23,202 — 23,202 — Financial liabilities:Total deposits25,238,599 25,245,009 — — 25,245,009 Short-term borrowings885,000 885,000 —