Company: TCBI
Filing Date: 2025-04-17
Form Type: 10-Q
Source: 0001077428-25-000078
Chunk: 28

Company: TEXAS CAPITAL BANCSHARES INC/TX
Filing Date: 2025-04-17
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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6.20% and the weighted-average life ranged from 4.31 years to 6.41 years. On a combined amortized cost weighted-average basis a discount rate of 5.42% and a weighted-average life of 5.15 years were utilized to determine the fair value of these securities at March 31, 2025. At December 31, 2024, the combined weighted-average discount rate and weighted-average life utilized were 5.63% and 5.35 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 $29.2 million fair value of loans held for investment at March 31, 2025 reported above includes impaired loans with a carrying value of $54.8 million that were reduced by specific allowance allocations totaling $25.6 million based on collateral valuations utilizing Level 3 inputs. 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. 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 3March 31, 2025Financial assets:Cash and cash equivalents$3,802,473 $3,802,473 $3,802,473 $— $— Available-for-sale debt securities3,678,378 3,678,378 280,099 3,386,685 11,594 Held-to-maturity debt securities779,354 685,662 — 685,662 — Equity securities71,679 71,679 55,551 16,128 — Trading securities1,808 1,808 — 1,808 — Loans held for investment, net22,101,405 22,044,077 — — 22,044,077 Derivative assets39,542 39,542 — 39,542 — Financial liabilities:Total deposits26,