Company: TCBI
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001077428-25-000036
Chunk: 5

Company: TEXAS CAPITAL BANCSHARES INC/TX
Filing Date: 2025-02-11
Form: 10-K
Item: Item 7
Chunk 5
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-term borrowings and $143.8 million in average long-term debt. Average non-interest bearing deposits for the year ended December 31, 2024 decreased to $9.0 billion from $9.8 billion for the same period in 2023.

Net interest margin for the year ended December 31, 2024 was 3.03% compared to 3.17% for 2023. The decrease was primarily due to an increase in interest bearing deposit yields, partially offset by higher yields on investment securities compared to the same period in 2023.

The yield on total loans held for investment, net, of 6.52% for the year ended December 31, 2024 was unchanged compared to the same period in 2023 and the yield on earning assets increased to 5.82% for the year ended December 31, 2024 compared to 5.65% for the same period in 2023. The average cost of total deposits increased to 2.93% for 2024 from 2.47% for the same period in 2023 and total funding costs, including all deposits, long-term debt and stockholders' equity, increased to 2.75% for 2024 compared to 2.46% for the same period 2023.

36

Non-interest Income 

Year Ended December 31,(in thousands)202420232022Service charges on deposit accounts$25,546 $20,874 $23,266 Wealth management and trust fee income15,315 13,955 15,036 Brokered loan fees8,961 8,918 14,159 Investment banking and advisory fees104,965 63,670 24,974 Trading income21,635 22,512 10,080 Gain on disposal of subsidiary— — 248,526 Available-for-sale debt securities gains/(losses), net(179,581)489 — Other34,205 31,001 13,481 Total non-interest income$31,046 $161,419 $349,522 

Non-interest income was $31.0 million for the year ended December 31, 2024, a $130.4 million decrease as compared to the same period in 2023, primarily due to the $179.6 million loss on sale of available-for-sale debt securities recognized during the third quarter of 2024, partially