Company: TCBI
Filing Date: 2025-04-17
Form Type: 10-Q
Source: 0001077428-25-000078
Chunk: 114

Company: TEXAS CAPITAL BANCSHARES INC/TX
Filing Date: 2025-04-17
Form: 10-Q
Item: Part I, Item 2
Chunk 114
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 months ended March 31, 2025, compared to the same period in 2024. The increase was primarily due to increases in salaries and benefits and communications and technology expense, partially offset by a decrease in FDIC expense. The three months ended March 31, 2024 included $3.0 million in additional FDIC special assessment expense.

Analysis of Financial Condition

Loans Held for Investment

The following table summarizes the Company’s loans held for investment by portfolio segment. See Note 1 - Operations and Summary of Significant Accounting Policies in the 2024 Form 10-K for details of these portfolio segments.

(in thousands)March 31, 2025December 31, 2024Commercial$11,404,294 $11,145,591 Mortgage finance4,725,541 5,215,574 Commercial real estate5,823,987 5,616,282 Consumer521,253 565,376 Gross loans held for investment22,475,075 22,542,823 Unearned income (net of direct origination costs)(95,291)(92,757)Total loans held for investment$22,379,784 $22,450,066 

Total loans held for investment were $22.4 billion at March 31, 2025, an increase of $70.3 million from December 31, 2024, as increases in commercial and commercial real estate loans were partially offset by a decrease in mortgage finance loans. Mortgage finance loans include legal ownership interests in mortgage loans that the Company purchases from unaffiliated mortgage originators, either directly or through a special purpose entity structure, that are typically sold within 10 to 20 days and represent 21% and 23% of gross loans held for investment at March 31, 2025 and December 31, 2024, respectively. Volumes fluctuate based on the level of market demand for the product and the number of days between purchase and sale of the loans, which can be affected by changes in overall market interest rates, and tend to peak at the end of each month. 

The Company originates a substantial majority of all loans held for investment. The Company also participates in shared national credits, both as a participant and as an agent. As of March 31, 2025, the Company had $5.8 billion in shared national credits, $1.0 billion of which the Company administered as agent. All synd