Texas Capital BancShares Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2012
January 23, 2013 at 04:01 pm EST
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Texas Capital BancShares Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, total interest income was $107.8 million against $93 million last year. Net interest income was $101.2 million against $88.1 million last year. Income from continuing operations before income taxes was $49.4 million against $40.8 million last year. Income from continuing operations was $31.4 million or $0.76 per diluted share against $25.7 million or $0.67 per diluted share last year. Net income was $31.4 million or $0.76 per diluted share against $25.7 million or $0.67 per diluted share last year. Results for the fourth quarter of 2012 include a charge of $4.0 million related to settlement of litigation. ROA was 1.27% against 1.28% last year. ROE was 15.35% against 17.05% last year.
For the year, total interest income was $398.5 million against $321.6 million last year. Net interest income was $376.9 million against $302.9 million last year. Income from continuing operations before income taxes was $188.6 million against $118.5 million last year. Income from continuing operations was $120.7 million or $3.01 per diluted share against $76.1 million or $1.99 per diluted share last year. Net income was $120.7 million or $3.00 per diluted share against $76 million or $1.98 per diluted share last year. Book value per share (excluding securities gains/losses) was $20.45 against $16.24 at December 31, 2011. Tangible book value (excluding securities gains/losses) per share was $19.96 against $15.69 at December 31, 2011. ROA was 1.35% against 1.12% last year. ROE was 16.93% against 13.39% last year.
The company reported net charge-offs for the fourth quarter of 2012. For the fourth quarter of 2012, net charge-offs were $3.5 million compared to net charge-offs of $3.4 million in the fourth quarter of 2011 and net charge-offs of $1.2 million in the third quarter of 2012.
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. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2012