Texas Capital Bancshares : TCBI ANNOUNCES OPERATING RESULTS FOR Q4 2017
January 25, 2018 at 02:44 am IST
Share
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced earnings and operating results for the fourth quarter of 2017.
DALLAS - January 24, 2018 - Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced earnings and operating results for the fourth quarter and full year of 2017.
'We are pleased to finish 2017 with strong operating results, including record earnings. The strong loan and deposit growth in 2017 positions us well as we move into 2018,' said Keith Cargill, CEO. 'We are focused on developing our talent and leveraging our people with improved technology as we gain efficiencies and improve client experience.'
Q4 2017 was negatively impacted by a $17.6 million ($0.35 per share) write-off of our deferred tax asset ('DTA') as a result of the Tax Cuts and Jobs Act (the 'Tax Act'). The amount of the write-off is expected to be recovered during 2018 from cash tax savings resulting from the Tax Act.
Net income decreased 24% on a linked quarter basis and decreased 8% from the fourth quarter of 2016
EPS decreased 25% on a linked quarter basis and decreased 13% from the fourth quarter of 2016.
Loans held for investment ('LHI'), excluding mortgage finance, increased 4% on a linked quarter basis and 18% from the fourth quarter of 2016.
Total mortgage finance loans, including mortgage correspondent loans ('MCA loans'), decreased 4% on a linked quarter basis and increased 16% from the fourth quarter of 2016.
Demand deposits decreased 5% and total deposits remained flat on a linked quarter basis (increased 4% and 8% on an average basis, respectively), and decreased 2% and increased 12%, respectively, from the fourth quarter of 2016.
PDF Version
Texas Capital Bancshares Inc. published this content on 24 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 January 2018 21:14:06 UTC.
Original documenthttps://www.texascapitalbank.com/about-us/media/latest-news/2018/01/24/tcbi-announces-operating-results-for-q4-2017
Public permalinkhttp://www.publicnow.com/view/A577C1FEA7D0C7C5953423EC28F0779286C2E27F
Texas Capital Bancshares, Inc. is a bank holding company. The Company, through its subsidiary Texas Capital Bank (the Bank), provides a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The Bank offers a full range of products and services, including commercial loans for general corporate purposes, including financing for working capital, organic growth, and acquisitions; real estate term and construction loans; mortgage warehouse lending; treasury management services, including online banking and debit and credit card services; investment banking and advisory services, and letters of credit. It also provides banking services for its individual customers, including personal wealth management and trust services; certificates of deposit; interest and non-interest bearing checking accounts; savings accounts; secured and unsecured loans; online and mobile banking, and investment banking, and advisory services.
TEXAS CAPITAL BANCSHARES, INC. 
