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Texas Capital Bancshares Inc. (TCBI-1.44%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial position, reporting total assets of $30.73 billion, an increase from $28.36 billion the previous year. Total deposits grew to $25.24 billion from $22.37 billion.
Net income for the year was $77.51 million, down from $189.14 million in 2023. After preferred dividends, net income available to common stockholders was $60.26 million, compared to $171.89 million the previous year.
The company reported a provision for credit losses of $67 million, slightly down from $72 million in 2023. Net charge-offs for the year were $40.87 million, compared to $50.93 million in the previous year.
Non-interest income decreased significantly to $31.05 million from $161.42 million in 2023, primarily due to a $179.58 million loss on the sale of available-for-sale debt securities.
Non-interest expense was $758.29 million, a slight increase from $756.95 million in 2023. The increase was attributed to higher salaries and benefits and occupancy expenses.
The company's capital ratios remained strong, with a Common Equity Tier 1 (CET1) capital ratio of 11.38% and a Tier 1 capital ratio of 12.82%, both well above the minimum requirements.
Texas Capital Bancshares Inc. continues to maintain a focus on risk management, with an emphasis on managing credit risk and maintaining adequate liquidity to support its operations and growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Texas Capital Bancshares Inc. annual 10-K report dated February 11, 2025. To report an error, please email earnings@qz.com.