10/17/2024 | Press release | Distributed by Public on 10/17/2024 04:01
FINANCIAL RESULTS | ||||||
(dollars and shares in thousands) | ||||||
3rd Quarter | 2nd Quarter | 3rd Quarter | ||||
2024 | 2024 | 2023 | ||||
OPERATING RESULTS | ||||||
Net income/(loss) | $ | (61,319) | $ | 41,662 | $ | 61,679 |
Net income/(loss) available to common stockholders | $ | (65,632) | $ | 37,350 | $ | 57,366 |
Diluted earnings/(loss) per common share | $ | (1.41) | $ | 0.80 | $ | 1.18 |
Diluted common shares | 46,609 | 46,872 | 48,529 | |||
Return on average assets | (0.78) | % | 0.56 | % | 0.81 | % |
Return on average common equity | (8.87) | % | 5.26 | % | 8.08 | % |
BALANCE SHEET | ||||||
Loans held for investment | $ | 16,764,512 | $ | 16,700,569 | $ | 16,183,882 |
Loans held for investment, mortgage finance | 5,529,659 | 5,078,161 | 4,429,489 | |||
Total loans held for investment | 22,294,171 | 21,778,730 | 20,613,371 | |||
Loans held for sale | 9,022 | 36,785 | 155,073 | |||
Total assets | 31,629,299 | 29,854,994 | 29,628,249 | |||
Non-interest bearing deposits | 9,070,804 | 7,987,715 | 9,352,883 | |||
Total deposits | 25,865,255 | 23,818,327 | 23,878,978 | |||
Stockholders' equity | 3,354,044 | 3,175,601 | 3,077,700 | |||
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED) | ||||||||||
(dollars in thousands except per share data) | ||||||||||
3rd Quarter | 2nd Quarter | 1st Quarter | 4th Quarter | 3rd Quarter | ||||||
2024 | 2024 | 2024 | 2023 | 2023 | ||||||
CONSOLIDATED STATEMENTS OF INCOME | ||||||||||
Interest income | $ | 452,533 | $ | 422,068 | $ | 417,378 | $ | 417,072 | $ | 425,769 |
Interest expense | 212,431 | 205,486 | 202,369 | 202,355 | 193,698 | |||||
Net interest income | 240,102 | 216,582 | 215,009 | 214,717 | 232,071 | |||||
Provision for credit losses | 10,000 | 20,000 | 19,000 | 19,000 | 18,000 | |||||
Net interest income after provision for credit losses | 230,102 | 196,582 | 196,009 | 195,717 | 214,071 | |||||
Non-interest income | (114,771) | 50,424 | 41,319 | 31,133 | 46,872 | |||||
Non-interest expense | 195,324 | 188,409 | 202,393 | 201,385 | 179,891 | |||||
Income/(loss) before income taxes | (79,993) | 58,597 | 34,935 | 25,465 | 81,052 | |||||
Income tax expense/(benefit) | (18,674) | 16,935 | 8,793 | 5,315 | 19,373 | |||||
Net income/(loss) | (61,319) | 41,662 | 26,142 | 20,150 | 61,679 | |||||
Preferred stock dividends | 4,313 | 4,312 | 4,313 | 4,312 | 4,313 | |||||
Net income/(loss) available to common stockholders | $ | (65,632) | $ | 37,350 | $ | 21,829 | $ | 15,838 | $ | 57,366 |
Diluted earnings/(loss) per common share | $ | (1.41) | $ | 0.80 | $ | 0.46 | $ | 0.33 | $ | 1.18 |
Diluted common shares | 46,608,742 | 46,872,498 | 47,711,192 | 48,097,517 | 48,528,698 | |||||
CONSOLIDATED BALANCE SHEET DATA | ||||||||||
Total assets | $ | 31,629,299 | $ | 29,854,994 | $ | 29,180,585 | $ | 28,356,266 | $ | 29,628,249 |
Loans held for investment | 16,764,512 | 16,700,569 | 16,677,691 | 16,362,230 | 16,183,882 | |||||
Loans held for investment, mortgage finance | 5,529,659 | 5,078,161 | 4,153,313 | 3,978,328 | 4,429,489 | |||||
Loans held for sale | 9,022 | 36,785 | 37,750 | 44,105 | 155,073 | |||||
Interest bearing cash and cash equivalents | 3,894,537 | 2,691,352 | 3,148,157 | 3,042,357 | 3,975,860 | |||||
Investment securities | 4,405,520 | 4,388,976 | 4,414,280 | 4,143,194 | 4,069,717 | |||||
Non-interest bearing deposits | 9,070,804 | 7,987,715 | 8,478,215 | 7,328,276 | 9,352,883 | |||||
Total deposits | 25,865,255 | 23,818,327 | 23,954,037 | 22,371,839 | 23,878,978 | |||||
Short-term borrowings | 1,035,000 | 1,675,000 | 750,000 | 1,500,000 | 1,400,000 | |||||
Long-term debt | 660,172 | 659,997 | 859,823 | 859,147 | 858,471 | |||||
Stockholders' equity | 3,354,044 | 3,175,601 | 3,170,662 | 3,199,142 | 3,077,700 | |||||
End of period shares outstanding | 46,207,757 | 46,188,078 | 46,986,275 | 47,237,912 | 48,015,003 | |||||
Book value per share | $ | 66.09 | $ | 62.26 | $ | 61.10 | $ | 61.37 | $ | 57.85 |
Tangible book value per share(1)
|
$ | 66.06 | $ | 62.23 | $ | 61.06 | $ | 61.34 | $ | 57.82 |
SELECTED FINANCIAL RATIOS | ||||||||||
Net interest margin | 3.16 | % | 3.01 | % | 3.03 | % | 2.93 | % | 3.13 | % |
Return on average assets | (0.78) | % | 0.56 | % | 0.36 | % | 0.27 | % | 0.81 | % |
Return on average common equity | (8.87) | % | 5.26 | % | 3.03 | % | 2.25 | % | 8.08 | % |
Non-interest income to average earning assets | (1.52) | % | 0.71 | % | 0.59 | % | 0.43 | % | 0.64 | % |
Efficiency ratio(2)
|
155.8 | % | 70.6 | % | 79.0 | % | 81.9 | % | 64.5 | % |
Non-interest expense to average earning assets | 2.59 | % | 2.65 | % | 2.89 | % | 2.79 | % | 2.46 | % |
Common equity to total assets | 9.7 | % | 9.6 | % | 9.8 | % | 10.2 | % | 9.4 | % |
Tangible common equity to total tangible assets(3)
|
9.7 | % | 9.6 | % | 9.8 | % | 10.2 | % | 9.4 | % |
Common Equity Tier 1 | 11.2 | % | 11.6 | % | 12.4 | % | 12.6 | % | 12.7 | % |
Tier 1 capital | 12.6 | % | 13.1 | % | 13.9 | % | 14.2 | % | 14.3 | % |
Total capital | 15.2 | % | 15.7 | % | 16.6 | % | 17.1 | % | 17.1 | % |
Leverage | 11.4 | % | 12.2 | % | 12.4 | % | 12.2 | % | 12.1 | % |
TEXAS CAPITAL BANCSHARES, INC. | ||||||
CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||||||
(dollars in thousands) | ||||||
September 30, 2024 | September 30, 2023 | % Change | ||||
Assets | ||||||
Cash and due from banks | $ | 297,048 | $ | 216,916 | 37 | % |
Interest bearing cash and cash equivalents | 3,894,537 | 3,975,860 | (2) | % | ||
Available-for-sale debt securities | 3,518,662 | 3,147,865 | 12 | % | ||
Held-to-maturity debt securities | 812,432 | 881,352 | (8) | % | ||
Equity securities | 74,426 | 40,500 | 84 | % | ||
Investment securities | 4,405,520 | 4,069,717 | 8 | % | ||
Loans held for sale | 9,022 | 155,073 | (94) | % | ||
Loans held for investment, mortgage finance | 5,529,659 | 4,429,489 | 25 | % | ||
Loans held for investment | 16,764,512 | 16,183,882 | 4 | % | ||
Less: Allowance for credit losses on loans | 273,143 | 244,902 | 12 | % | ||
Loans held for investment, net | 22,021,028 | 20,368,469 | 8 | % | ||
Premises and equipment, net | 81,577 | 31,050 | 163 | % | ||
Accrued interest receivable and other assets | 919,071 | 809,668 | 14 | % | ||
Goodwill and intangibles, net | 1,496 | 1,496 | - | % | ||
Total assets | $ | 31,629,299 | $ | 29,628,249 | 7 | % |
Liabilities and Stockholders' Equity | ||||||
Liabilities: | ||||||
Non-interest bearing deposits | $ | 9,070,804 | $ | 9,352,883 | (3) | % |
Interest bearing deposits | 16,794,451 | 14,526,095 | 16 | % | ||
Total deposits | 25,865,255 | 23,878,978 | 8 | % | ||
Accrued interest payable | 18,679 | 31,149 | (40) | % | ||
Other liabilities | 696,149 | 381,951 | 82 | % | ||
Short-term borrowings | 1,035,000 | 1,400,000 | (26) | % | ||
Long-term debt | 660,172 | 858,471 | (23) | % | ||
Total liabilities | 28,275,255 | 26,550,549 | 6 | % | ||
Stockholders' equity: | ||||||
Preferred stock, $.01 par value, $1,000 liquidation value: | ||||||
Authorized shares - 10,000,000 | ||||||
Issued shares - 300,000 shares issued at September 30, 2024 and 2023
|
300,000 | 300,000 | - | % | ||
Common stock, $.01 par value: | ||||||
Authorized shares - 100,000,000 | ||||||
Issued shares - 51,494,260 and 51,110,447 at September 30, 2024 and 2023, respectively
|
515 | 511 | 1 | % | ||
Additional paid-in capital | 1,054,614 | 1,039,074 | 1 | % | ||
Retained earnings | 2,428,940 | 2,419,555 | - | % | ||
Treasury stock - 5,286,503 and 3,095,444 shares at cost at September 30, 2024 and 2023, respectively
|
(301,868) | (175,528) | 72 | % | ||
Accumulated other comprehensive loss, net of taxes | (128,157) | (505,912) | (75) | % | ||
Total stockholders' equity | 3,354,044 | 3,077,700 | 9 | % | ||
Total liabilities and stockholders' equity | $ | 31,629,299 | $ | 29,628,249 | 7 | % |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | ||||||||
(dollars in thousands except per share data) | ||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Interest income | ||||||||
Interest and fees on loans | $ | 361,407 | $ | 345,138 | $ | 1,037,537 | $ | 975,443 |
Investment securities | 38,389 | 27,070 | 104,117 | 79,840 | ||||
Interest bearing cash and cash equivalents | 52,737 | 53,561 | 150,325 | 157,568 | ||||
Total interest income | 452,533 | 425,769 | 1,291,979 | 1,212,851 | ||||
Interest expense | ||||||||
Deposits | 190,255 | 160,117 | 547,135 | 417,602 | ||||
Short-term borrowings | 13,784 | 19,576 | 39,316 | 52,573 | ||||
Long-term debt | 8,392 | 14,005 | 33,835 | 43,270 | ||||
Total interest expense | 212,431 | 193,698 | 620,286 | 513,445 | ||||
Net interest income | 240,102 | 232,071 | 671,693 | 699,406 | ||||
Provision for credit losses | 10,000 | 18,000 | 49,000 | 53,000 | ||||
Net interest income after provision for credit losses | 230,102 | 214,071 | 622,693 | 646,406 | ||||
Non-interest income | ||||||||
Service charges on deposit accounts | 6,307 | 5,297 | 18,557 | 15,477 | ||||
Wealth management and trust fee income | 4,040 | 3,509 | 11,306 | 10,653 | ||||
Brokered loan fees | 2,400 | 2,532 | 6,442 | 6,842 | ||||
Investment banking and advisory fees | 34,753 | 23,099 | 78,225 | 56,764 | ||||
Trading income | 5,786 | 6,092 | 16,148 | 18,693 | ||||
Available-for-sale debt securities gains/(losses), net
|
(179,581) | - | (179,581) | 489 | ||||
Other | 11,524 | 6,343 | 25,875 | 21,368 | ||||
Total non-interest income | (114,771) | 46,872 | (23,028) | 130,286 | ||||
Non-interest expense | ||||||||
Salaries and benefits | 121,138 | 110,010 | 368,705 | 351,730 | ||||
Occupancy expense | 12,937 | 9,910 | 33,340 | 29,011 | ||||
Marketing | 5,863 | 4,757 | 17,895 | 20,168 | ||||
Legal and professional | 11,135 | 17,614 | 38,603 | 47,797 | ||||
Communications and technology | 25,951 | 19,607 | 69,078 | 57,655 | ||||
Federal Deposit Insurance Corporation insurance assessment | 4,906 | 5,769 | 18,897 | 11,632 | ||||
Other | 13,394 | 12,224 | 39,608 | 37,569 | ||||
Total non-interest expense | 195,324 | 179,891 | 586,126 | 555,562 | ||||
Income/(loss) before income taxes | (79,993) | 81,052 | 13,539 | 221,130 | ||||
Income tax expense/(benefit) | (18,674) | 19,373 | 7,054 | 52,139 | ||||
Net income/(loss) | (61,319) | 61,679 | 6,485 | 168,991 | ||||
Preferred stock dividends | 4,313 | 4,313 | 12,938 | 12,938 | ||||
Net income/(loss) available to common stockholders | $ | (65,632) | $ | 57,366 | $ | (6,453) | $ | 156,053 |
Basic earnings/(loss) per common share | $ | (1.42) | $ | 1.19 | $ | (0.14) | $ | 3.24 |
Diluted earnings/(loss) per common share | $ | (1.41) | $ | 1.18 | $ | (0.14) | $ | 3.20 |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
SUMMARY OF CREDIT LOSS EXPERIENCE | ||||||||||
(dollars in thousands) | ||||||||||
3rd Quarter | 2nd Quarter | 1st Quarter | 4th Quarter | 3rd Quarter | ||||||
2024 | 2024 | 2024 | 2023 | 2023 | ||||||
Allowance for credit losses on loans: | ||||||||||
Beginning balance | $ | 267,297 | $ | 263,962 | $ | 249,973 | $ | 244,902 | $ | 237,343 |
Allowance established for acquired purchase credit deterioration loans | 2,579 | - | - | - | - | |||||
Loans charged-off: | ||||||||||
Commercial | 6,120 | 9,997 | 7,544 | 8,356 | 13,246 | |||||
Commercial real estate | 262 | 2,111 | 3,325 | 5,500 | - | |||||
Consumer | 30 | - | - | - | 41 | |||||
Total charge-offs | 6,412 | 12,108 | 10,869 | 13,856 | 13,287 | |||||
Recoveries: | ||||||||||
Commercial | 329 | 153 | 105 | 15 | 4,346 | |||||
Commercial real estate | - | - | - | 4 | - | |||||
Consumer | - | - | - | - | - | |||||
Total recoveries | 329 | 153 | 105 | 19 | 4,346 | |||||
Net charge-offs | 6,083 | 11,955 | 10,764 | 13,837 | 8,941 | |||||
Provision for credit losses on loans | 9,350 | 15,290 | 24,753 | 18,908 | 16,500 | |||||
Ending balance | $ | 273,143 | $ | 267,297 | $ | 263,962 | $ | 249,973 | $ | 244,902 |
Allowance for off-balance sheet credit losses: | ||||||||||
Beginning balance | $ | 45,319 | $ | 40,609 | $ | 46,362 | $ | 46,270 | $ | 44,770 |
Provision for off-balance sheet credit losses | 650 | 4,710 | (5,753) | 92 | 1,500 | |||||
Ending balance | $ | 45,969 | $ | 45,319 | $ | 40,609 | $ | 46,362 | $ | 46,270 |
Total allowance for credit losses | $ | 319,112 | $ | 312,616 | $ | 304,571 | $ | 296,335 | $ | 291,172 |
Total provision for credit losses | $ | 10,000 | $ | 20,000 | $ | 19,000 | $ | 19,000 | $ | 18,000 |
Allowance for credit losses on loans to total loans held for investment | 1.23 | % | 1.23 | % | 1.27 | % | 1.23 | % | 1.19 | % |
Allowance for credit losses on loans to average total loans held for investment | 1.24 | % | 1.27 | % | 1.32 | % | 1.24 | % | 1.17 | % |
Net charge-offs to average total loans held for investment(1)
|
0.11 | % | 0.23 | % | 0.22 | % | 0.27 | % | 0.17 | % |
Net charge-offs to average total loans held for investment for last 12 months(1)
|
0.20 | % | 0.22 | % | 0.20 | % | 0.25 | % | 0.26 | % |
Total provision for credit losses to average total loans held for investment(1)
|
0.18 | % | 0.38 | % | 0.38 | % | 0.37 | % | 0.34 | % |
Total allowance for credit losses to total loans held for investment
|
1.43 | % | 1.44 | % | 1.46 | % | 1.46 | % | 1.41 | % |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
SUMMARY OF NON-PERFORMING ASSETS AND PAST DUE LOANS | ||||||||||
(dollars in thousands) | ||||||||||
3rd Quarter | 2nd Quarter | 1st Quarter | 4th Quarter | 3rd Quarter | ||||||
2024 | 2024 | 2024 | 2023 | 2023 | ||||||
Non-accrual loans held for investment | $ | 88,960 | $ | 85,021 | $ | 92,849 | $ | 81,398 | $ | 63,129 |
Non-accrual loans held for sale(1) | - | - | 9,250 | - | - | |||||
Other real estate owned | - | - | - | - | - | |||||
Total non-performing assets | $ | 88,960 | $ | 85,021 | $ | 102,099 | $ | 81,398 | $ | 63,129 |
Non-accrual loans held for investment to total loans held for investment | 0.40 | % | 0.39 | % | 0.45 | % | 0.40 | % | 0.31 | % |
Total non-performing assets to total assets | 0.28 | % | 0.28 | % | 0.35 | % | 0.29 | % | 0.21 | % |
Allowance for credit losses on loans to non-accrual loans held for investment | 3.1x | 3.1x | 2.8x | 3.1x | 3.9x | |||||
Total allowance for credit losses to non-accrual loans held for investment | 3.6x | 3.7x | 3.3x | 3.6x | 4.6x | |||||
Loans held for investment past due 90 days and still accruing
|
$ | 5,281 | $ | 286 | $ | 3,674 | $ | 19,523 | $ | 4,602 |
Loans held for investment past due 90 days to total loans held for investment | 0.02 | % | - | % | 0.02 | % | 0.10 | % | 0.02 | % |
Loans held for sale past due 90 days and still accruing
|
$ | - | $ | 64 | $ | 147 | $ | - | $ | - |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | ||||||||||
(dollars in thousands) | ||||||||||
3rd Quarter | 2nd Quarter | 1st Quarter | 4th Quarter | 3rd Quarter | ||||||
2024 | 2024 | 2023 | 2023 | 2023 | ||||||
Interest income | ||||||||||
Interest and fees on loans | $ | 361,407 | $ | 345,251 | $ | 330,879 | $ | 325,210 | $ | 345,138 |
Investment securities | 38,389 | 33,584 | 32,144 | 28,454 | 27,070 | |||||
Interest bearing deposits in other banks | 52,737 | 43,233 | 54,355 | 63,408 | 53,561 | |||||
Total interest income | 452,533 | 422,068 | 417,378 | 417,072 | 425,769 | |||||
Interest expense | ||||||||||
Deposits | 190,255 | 181,280 | 175,600 | 170,173 | 160,117 | |||||
Short-term borrowings | 13,784 | 12,749 | 12,783 | 18,069 | 19,576 | |||||
Long-term debt | 8,392 | 11,457 | 13,986 | 14,113 | 14,005 | |||||
Total interest expense | 212,431 | 205,486 | 202,369 | 202,355 | 193,698 | |||||
Net interest income | 240,102 | 216,582 | 215,009 | 214,717 | 232,071 | |||||
Provision for credit losses | 10,000 | 20,000 | 19,000 | 19,000 | 18,000 | |||||
Net interest income after provision for credit losses | 230,102 | 196,582 | 196,009 | 195,717 | 214,071 | |||||
Non-interest income | ||||||||||
Service charges on deposit accounts | 6,307 | 5,911 | 6,339 | 5,397 | 5,297 | |||||
Wealth management and trust fee income | 4,040 | 3,699 | 3,567 | 3,302 | 3,509 | |||||
Brokered loan fees | 2,400 | 2,131 | 1,911 | 2,076 | 2,532 | |||||
Investment banking and advisory fees | 34,753 | 25,048 | 18,424 | 6,906 | 23,099 | |||||
Trading income | 5,786 | 5,650 | 4,712 | 3,819 | 6,092 | |||||
Available-for-sale debt securities gains/(losses), net
|
(179,581) | - | - | - | - | |||||
Other | 11,524 | 7,985 | 6,366 | 9,633 | 6,343 | |||||
Total non-interest income | (114,771) | 50,424 | 41,319 | 31,133 | 46,872 | |||||
Non-interest expense | ||||||||||
Salaries and benefits | 121,138 | 118,840 | 128,727 | 107,970 | 110,010 | |||||
Occupancy expense | 12,937 | 10,666 | 9,737 | 9,483 | 9,910 | |||||
Marketing | 5,863 | 5,996 | 6,036 | 5,686 | 4,757 | |||||
Legal and professional | 11,135 | 11,273 | 16,195 | 17,127 | 17,614 | |||||
Communications and technology | 25,951 | 22,013 | 21,114 | 23,607 | 19,607 | |||||
Federal Deposit Insurance Corporation insurance assessment | 4,906 | 5,570 | 8,421 | 25,143 | 5,769 | |||||
Other | 13,394 | 14,051 | 12,163 | 12,369 | 12,224 | |||||
Total non-interest expense | 195,324 | 188,409 | 202,393 | 201,385 | 179,891 | |||||
Income/(loss) before income taxes | (79,993) | 58,597 | 34,935 | 25,465 | 81,052 | |||||
Income tax expense/(benefit) | (18,674) | 16,935 | 8,793 | 5,315 | 19,373 | |||||
Net income/(loss) | (61,319) | 41,662 | 26,142 | 20,150 | 61,679 | |||||
Preferred stock dividends | 4,313 | 4,312 | 4,313 | 4,312 | 4,313 | |||||
Net income/(loss) available to common shareholders | $ | (65,632) | $ | 37,350 | $ | 21,829 | $ | 15,838 | $ | 57,366 |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||||||||||||||||||||||
TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1)
|
||||||||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||
3rd Quarter 2024 | 2nd Quarter 2024 | 1st Quarter 2024 | 4th Quarter 2023 | 3rd Quarter 2023 | ||||||||||||||||||||||||||
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate |
||||||||||||||||
Assets | ||||||||||||||||||||||||||||||
Investment securities(2)
|
$ | 4,314,834 | $ | 38,389 | 3.34 | % | $ | 4,427,023 | $ | 33,584 | 2.80 | % | $ | 4,299,368 | $ | 32,144 | 2.77 | % | $ | 4,078,975 | $ | 28,454 | 2.48 | % | $ | 4,204,749 | $ | 27,070 | 2.33 | % |
Interest bearing cash and cash equivalents | 3,958,843 | 52,737 | 5.30 | % | 3,273,069 | 43,233 | 5.31 | % | 4,051,627 | 54,355 | 5.40 | % | 4,637,374 | 63,408 | 5.42 | % | 3,965,045 | 53,561 | 5.36 | % | ||||||||||
Loans held for sale | 23,793 | 565 | 9.44 | % | 28,768 | 683 | 9.55 | % | 51,164 | 1,184 | 9.31 | % | 29,071 | 672 | 9.17 | % | 31,878 | 647 | 8.06 | % | ||||||||||
Loans held for investment, mortgage finance(4)
|
5,152,317 | 54,371 | 4.20 | % | 4,357,288 | 42,722 | 3.94 | % | 3,517,707 | 31,455 | 3.60 | % | 3,946,280 | 33,709 | 3.39 | % | 4,697,702 | 50,813 | 4.29 | % | ||||||||||
Loans held for investment(3)(4)
|
16,792,446 | 306,541 | 7.26 | % | 16,750,788 | 301,910 | 7.25 | % | 16,522,089 | 298,306 | 7.26 | % | 16,164,233 | 290,897 | 7.14 | % | 16,317,324 | 293,750 | 7.14 | % | ||||||||||
Less: Allowance for credit losses on loans
|
266,915 | - | - | 263,145 | - | - | 249,936 | - | - | 244,287 | - | - | 238,883 | - | - | |||||||||||||||
Loans held for investment, net | 21,677,848 | 360,912 | 6.62 | % | 20,844,931 | 344,632 | 6.65 | % | 19,789,860 | 329,761 | 6.70 | % | 19,866,226 | 324,606 | 6.48 | % | 20,776,143 | 344,563 | 6.58 | % | ||||||||||
Total earning assets | 29,975,318 | 452,603 | 5.96 | % | 28,573,791 | 422,132 | 5.86 | % | 28,192,019 | 417,444 | 5.88 | % | 28,611,646 | 417,140 | 5.69 | % | 28,977,815 | 425,841 | 5.75 | % | ||||||||||
Cash and other assets | 1,239,855 | 1,177,061 | 1,058,463 | 1,120,354 | 1,106,031 | |||||||||||||||||||||||||
Total assets | $ | 31,215,173 | $ | 29,750,852 | $ | 29,250,482 | $ | 29,732,000 | $ | 30,083,846 | ||||||||||||||||||||
Liabilities and Stockholders' Equity | ||||||||||||||||||||||||||||||
Transaction deposits | $ | 1,988,688 | $ | 15,972 | 3.20 | % | $ | 2,061,622 | $ | 16,982 | 3.31 | % | $ | 2,006,493 | $ | 16,858 | 3.38 | % | $ | 1,972,324 | $ | 15,613 | 3.14 | % | $ | 1,755,451 | $ | 13,627 | 3.08 | % |
Savings deposits | 12,240,616 | 147,770 | 4.80 | % | 11,981,668 | 143,173 | 4.81 | % | 11,409,677 | 136,790 | 4.82 | % | 11,043,155 | 132,801 | 4.77 | % | 10,858,306 | 127,323 | 4.65 | % | ||||||||||
Time deposits | 2,070,537 | 26,513 | 5.09 | % | 1,658,899 | 21,125 | 5.12 | % | 1,719,325 | 21,952 | 5.14 | % | 1,716,812 | 21,759 | 5.03 | % | 1,610,235 | 19,167 | 4.72 | % | ||||||||||
Total interest bearing deposits | 16,299,841 | 190,255 | 4.64 | % | 15,702,189 | 181,280 | 4.64 | % | 15,135,495 | 175,600 | 4.67 | % | 14,732,291 | 170,173 | 4.58 | % | 14,223,992 | 160,117 | 4.47 | % | ||||||||||
Short-term borrowings | 1,012,608 | 13,784 | 5.42 | % | 927,253 | 12,749 | 5.53 | % | 912,088 | 12,783 | 5.64 | % | 1,257,609 | 18,069 | 5.70 | % | 1,393,478 | 19,576 | 5.57 | % | ||||||||||
Long-term debt | 660,098 | 8,392 | 5.06 | % | 778,401 | 11,457 | 5.92 | % | 859,509 | 13,986 | 6.54 | % | 858,858 | 14,113 | 6.52 | % | 858,167 | 14,005 | 6.47 | % | ||||||||||
Total interest bearing liabilities | 17,972,547 | 212,431 | 4.70 | % | 17,407,843 | 205,486 | 4.75 | % | 16,907,092 | 202,369 | 4.81 | % | 16,848,758 | 202,355 | 4.76 | % | 16,475,637 | 193,698 | 4.66 | % | ||||||||||
Non-interest bearing deposits | 9,439,020 | 8,647,594 | 8,637,775 | 9,247,491 | 10,016,579 | |||||||||||||||||||||||||
Other liabilities | 558,368 | 537,754 | 509,286 | 541,162 | 474,869 | |||||||||||||||||||||||||
Stockholders' equity | 3,245,238 | 3,157,661 | 3,196,329 | 3,094,589 | 3,116,761 | |||||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 31,215,173 | $ | 29,750,852 | $ | 29,250,482 | $ | 29,732,000 | $ | 30,083,846 | ||||||||||||||||||||
Net interest income
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$ | 240,172 | $ | 216,646 | $ | 215,075 | $ | 214,785 | $ | 232,143 | ||||||||||||||||||||
Net interest margin | 3.16 | % | 3.01 | % | 3.03 | % | 2.93 | % | 3.13 | % |