Company: TCBI
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0001077428-25-000036
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Company: TEXAS CAPITAL BANCSHARES INC/TX
Filing Date: 2025-02-11
Form: 10-K
Item: Item 7
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ITEM 7.     MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Results of Operations

Selected income statement data and key performance indicators are presented in the table below:

For the Year Ended December 31,(dollars in thousands except per share data)202420232022Net interest income$901,300 $914,123 $875,765 Provision for credit losses67,000 72,000 66,000 Non-interest income31,046 161,419 349,522 Non-interest expense758,285 756,947 727,532 Income before income taxes107,061 246,595 431,755 Income tax expense29,553 57,454 99,277 Net income77,508 189,141 332,478 Preferred stock dividends17,250 17,250 17,250 Net income available to common stockholders$60,258 $171,891 $315,228 Basic earnings per common share$1.29 $3.58 $6.25 Diluted earnings per common share$1.28 $3.54 $6.18 Net interest margin3.03 %3.17 %2.79 %Return on average assets (“ROA”)0.25 %0.64 %1.04 %Return on average common equity (“ROE”)2.04 %6.15 %11.33 %Efficiency ratio(1)81.3 %70.4 %59.4 %Non-interest income to average earning assets0.11 %0.57 %1.12 %Non-interest expense to average earning assets2.57 %2.66 %2.34 %

(1)    Non-interest expense divided by the sum of net interest income and non-interest income.

Year ended December 31, 2024 compared to year ended December 31, 2023

The Company reported net income of $77.5 million and net income available to common stockholders of $60.3 million for the year ended December 31, 2024, compared to net income of $189.1 million and net income available to common stockholders of $171.9 million for the same period in 2023. On a fully diluted basis, earnings per common share was $1.