Company: TCBI
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001077428-25-000036
Chunk: 70

Company: TEXAS CAPITAL BANCSHARES INC/TX
Filing Date: 2025-02-11
Form: 10-K
Item: Item 8
Chunk 70
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 grant date. The value of performance awards that include a market condition is estimated on the date of grant using a Monte Carlo simulation model with the following weighted average assumptions:December 31, 2024December 31, 2023December 31, 2022Risk-free interest rate4.41 %4.14 %1.56 %Expected stock price volatility38.3 %50.2 %57.1 %Simulation period2.87 years2.89 years2.89 years

76

A summary of the Company’s cash-settled RSU activity and related information is as follows. Grants of stock-settled RSUs include time-based vesting conditions that generally vest ratably over a period of three years. Since these units have a cash payout feature, they are accounted for under the liability method with related expense based on the stock price at period end.December 31, 2024December 31, 2023December 31, 2022RSUs outstanding at beginning of year— — 13,131 Granted226,864 — — Vested(55)— (12,655)Forfeited(31,998)— (476)RSUs outstanding at year-end194,811 — — Compensation expense$4,481,000 $— $186,000 Weighted average years over which unrecognized compensation expense is expected to be recognized2.190.000.00

(12) Income Taxes

Income tax expense/(benefit) consists of the following: Year ended December 31,(in thousands)202420232022Current:Federal$37,878 $69,350 $109,370 State7,761 5,888 7,302 Total45,639 75,238 116,672 Deferred:Federal(14,960)(16,540)(16,178)State(1,126)(1,244)(1,217)Total(16,086)(17,784)(17,395)Total expense:Federal22,918 52,810 93,192 State6,635 4,644 6,085 Total$29,553 $57,454 $99,277 The reconciliation of income tax at the U.S. federal statutory tax rate to income tax expense and effective tax rate is as follows: Year ended December 31,  202420232