Q2 2024 Texas Capital Bancshares Inc Earnings Call Transcript
Key Points
- Texas Capital Bancshares Inc (TCBI) reported a 4% increase in total revenue for Q2 2024, reaching $267 million.
- Non-interest income grew by 22% quarter-over-quarter, with fee income hitting a high watermark since the transformation began in January 2021.
- Investment banking and trading income increased by 33% quarter-over-quarter to a record $30.7 million.
- The treasury solutions platform saw a 14% year-over-year increase in treasury product fees, driven by an 11% increase in gross payment revenue year-to-date.
- Tangible common equity to tangible assets ratio stood at 9.6%, ranking first among the largest banks in the country.
- Total deposits declined by 1% during the quarter, with reductions in mortgage finance and brokered deposits.
- Net interest margin declined by 2 basis points this quarter.
- Provision expense for the quarter was $20 million, driven by charge-offs associated with previously identified problem credits.
- Commercial real estate period-end balances decreased by $133 million or 2% in the quarter.
- The firm experienced a 71% increase in net income to common, but this was partly offset by a 3.7% increase in the tax rate, resulting in a $2.2 million reduction in net income.
Good morning, all. I would like to welcome you all to the Texas Capital Bancshares, Inc., Q2 2024 earnings call. My name is Brika, and I will be your moderator for today. (Operator Instructions)
I would now like to pass the conference over to your host, Jocelyn Kukulka at TCBI, to begin. Jocelyn, please go ahead.
Good morning, and thank you for joining us for TCBI's second-quarter 2024 earnings conference call. I'm Jocelyn Kukulka, Head of Investor Relations.
Before we begin, please be aware this call will include forward-looking statements that are based on our current expectations of future results or events. Forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from these statements.
Our forward-looking statements as of the date of this call, and we do not assume any obligation to update or revise them. Statements made on this call should be considered together with the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
