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EX - 99.1 2 a10212021 exhibit991.htm EX - 99.1 EARNINGS RELEASE Texas Capital Bancshares , Inc. Exhibit 99.1 INVESTOR CONTACT Jamie Britton , 214.932.6721 jamie.britton@texascapitalbank.com MEDIA CONTACT Shannon Wherry , 469.399.8527 shannon.wherry@texascapitalbank.com TEXAS CAPITAL BANCSHARES , INC . ANNOUNCES OPERATING RESULTS FOR Q3 2021 DALLAS October 20 , 2021 - Texas Capital Bancshares , Inc. ( NASDAQ : TCBI ) , the parent company of Texas Capital Bank , announced operating results for the third quarter of 2021 . " I am very pleased by the important actions taken this quarter , ” said Rob C. Holmes , President and CEO . “ We have communicated a transformative vision for the future of our company which we believe will lead to higher quality , more sustainable earnings for our shareholders . I am encouraged by the support we have received thus far , and with a vastly improved balance sheet , a strengthening loan portfolio , and a highly motivated management team and employee base , we are focused on what needs to be done to become the flagship financial services firm headquartered in Texas . " • Net income of $ 43.4 million ( $ 0.76 per diluted share ) reported for the third quarter of 2021 , a decrease of $ 30.1 million on a linked quarter basis and a decrease of $ 13.7 million from the third quarter of 2020 . • Provision for credit losses of $ 5.0 million for the third quarter of 2021 , compared to a negative provision of $ 19.0 million for the second quarter of 2021 and a provision of $ 30.0 million for the third quarter of 2020 . During the third quarter of 2021 , we recorded a $ 12.0 million write - off of certain software assets to reposition our capitalized technology investment to align with the long - term strategy as announced by management in the third quarter of 2021 . • Loans held for investment ( " LHI " ) , excluding mortgage finance loans , increased $ 52.8 million ( less than 1 % ) on a linked quarter basis and decreased $ 568.6 million ( 4 ) % from the third quarter of 2020 . • LHI , mortgage finance loans decreased 3 % on a linked quarter basis and decreased 9 % from the third quarter of 2020 . • Demand deposits increased 5 % and total deposits increased 3 % on a linked quarter basis , and increased 21 % and decreased 7 % , respectively , from the third quarter of 2020 . FINANCIAL SUMMARY ( dollars and shares in thousands ) QUARTERLY OPERATING RESULTS Net income Net income available to common stockholders Diluted earnings per common share Diluted common shares Return on average assets Return on average common equity BALANCE SHEET Loans held for sale ( " LHS " ) LHI , mortgage finance LHI Total LHI Total assets Demand deposits Total deposits Stockholders ' equity Q3 2021 Q3 2020 % Change $ 43,390 $ 57,116 ( 24 ) % $ 39,078 $ 54,678 ( 29 ) % $ 0.76 $ 1.08 ( 30 ) % 51,140 50,573 1 % 0.47 % 0.59 % 5.41 % 8.24 % $ 9,660 $ 648,009 ( 99 ) % 8,528,313 9,378,104 ( 9 ) % 15,221,404 15,789,958 ( 4 ) % 23,749,717 25,168,062 ( 6 ) % 36,404,320 38,432,872 ( 5 ) % 14,970,462 12,339,212 21 % 29,813,668 31,959,487 ( 7 ) % 3,147,752 2,800,404 12 %