Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced earnings and operating results for the first quarter of 2015.
“Our strong start in 2015 is highlighted with outstanding loan and deposit growth, and related earnings,” said Keith Cargill, CEO. “We experienced solid growth in core loans held for investment during the quarter and benefitted from the increase in refinancing activity in our mortgage finance business. The growth in demand and total deposits was exceptional and reflects continued success in our strategy to extend the duration of our low-cost funding. We are encouraged about prospects for the remainder of the year as we work to leverage our talent and capital to produce improving returns for our stockholders.”
- Loans held for investment, excluding mortgage finance, increased 6% and total loans increased 13% on a linked quarter basis, growing 21% and 39%, respectively, from the first quarter of 2014.
- Mortgage finance loans increased 32% on a linked quarter basis and 101% from the first quarter of 2014.
- Demand deposits increased 21% and total deposits increased 11% on a linked quarter basis, growing 75% and 45%, respectively, from the first quarter of 2014.
- Net income decreased 7% on a linked quarter basis and increased 24% from the first quarter of 2014.
- EPS decreased 10% on a linked quarter basis, and increased 17% from the first quarter of 2014.
PDF Version (includes Financial Summary)