Initiation of quarterly common stock cash dividend of $0.20 per share
First quarter 2026 net income available to common stockholders of $69.5 million, up 63% year-over-year
Book Value and Tangible Book Value(4) per share both increased 11% year-over-year
Capital ratios continue to be strong, achieving 12.0% CET1 and 15.9% Total Capital
DALLAS, April 23, 2026 (GLOBE NEWSWIRE) -- "Our first quarter results reflect the increasing relevance of our platform and the breadth of capabilities we can now deliver for clients across our markets," said Rob C. Holmes, Chairman, President & CEO. "The diversification of our revenue base continues to accelerate, with fee-generating businesses contributing a meaningfully larger share of total revenue and reinforcing the durability of the operating model we have built. Supported by sustainable earnings generation, strong capital levels and proven strategic positioning, we are pleased to announce the initiation of the first quarterly common stock dividend in Texas Capital's history at $0.20 per share."
| 1st Quarter | 4th Quarter | 1st Quarter | |||||||||
| (dollars in thousands except per share data) | 2026 | 2025 | 2025 | ||||||||
| Summary Income Statement | |||||||||||
| Net interest income | $ | 254,719 | $ | 267,437 | $ | 236,034 | |||||
| Non-interest income | 69,266 | 60,046 | 44,444 | ||||||||
| Total revenue | 323,985 | 327,483 | 280,478 | ||||||||
| Non-interest expense | 213,568 | 184,198 | 203,020 | ||||||||
| Pre-provision net revenue(1) | 110,417 | 143,285 | 77,458 | ||||||||
| Provision for credit losses | 16,000 | 11,000 | 17,000 | ||||||||
| Net income available to common stockholders | 69,475 | 96,347 | 42,734 | ||||||||
| Non-interest income, adjusted(2) | $ | 69,266 | $ | 60,046 | $ | 44,444 | |||||
| Total revenue, adjusted(2) | 323,985 | 327,483 | 280,478 | ||||||||
| Non-interest expense, adjusted(2) | 212,167 | 186,440 | 203,020 | ||||||||
| Pre-provision net revenue, adjusted(1)(2) | 111,818 | 141,043 | 77,458 | ||||||||
| Net income to common stockholders, adjusted(2) | 70,537 | 94,631 | 42,734 | ||||||||
| Key Metrics | |||||||||||
| Diluted earnings per common share | $ | 1.56 | $ | 2.12 | $ | 0.92 | |||||
| Diluted earnings per common shares, adjusted(2) | $ | 1.58 | $ | 2.08 | $ | 0.92 | |||||
| Return on average assets | 0.95 | % | 1.22 | % | 0.61 | % | |||||
| Return on average assets, adjusted(2) | 0.97 | % | 1.20 | % | 0.61 | % | |||||
| Return on average common equity | 8.35 | % | 11.18 | % | 5.56 | % | |||||
| Return on average common equity, adjusted(2) | 8.48 | % | 10.98 | % | 5.56 | % | |||||
| Efficiency ratio(3) | 65.9 | % | 56.2 | % | 72.4 | % | |||||
| Efficiency ratio, adjusted(2)(3) | 65.5 | % | 56.9 | % | 72.4 | % | |||||
| Net interest margin | 3.43 | % | 3.38 | % | 3.19 | % | |||||
| Book value per share | $ | 75.71 | $ | 75.28 | $ | 68.00 | |||||
| Tangible book value per share(4) | $ | 75.67 | $ | 75.25 | $ | 67.97 | |||||
| Common Equity Tier 1 ratio | 12.0 | % | 12.1 | % | 11.6 | % | |||||
| Balance Sheet | |||||||||||
| Total assets | $ | 33,486,484 | $ | 31,540,274 | $ | 31,375,749 | |||||
| Loans held for investment | 18,217,976 | 17,976,183 | 17,654,243 | ||||||||
| Loans held for investment, mortgage finance | 6,961,686 | 6,064,019 | 4,725,541 | ||||||||
| Total deposits | 28,516,688 | 26,448,767 | 26,053,034 | ||||||||
| Stockholders' equity | 3,606,207 | 3,631,382 | 3,429,774 | ||||||||
| (1) | Net interest income plus non-interest income, less non-interest expense. |
| (2) | These adjusted measures are non-GAAP measures. Please refer to "GAAP to Non-GAAP Reconciliations" for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure. |
| (3) | Non-interest expense divided by the sum of net interest income and non-interest income. |
| (4) | Stockholders' equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end. |
FIRST QUARTER 2026 COMPARED TO FOURTH QUARTER 2025
For the first quarter of 2026, net income available to common stockholders was $69.5 million, or $1.56 per diluted share, compared to $96.3 million, or $2.12 per diluted share, for the fourth quarter of 2025.
Provision for credit losses for the first quarter of 2026 was $16.0 million, compared to $11.0 million for the fourth quarter of 2025. The $16.0 million provision for credit losses recorded in the first quarter of 2026 resulted primarily from an increase in criticized loans and $17.4 million in net charge-offs.
Net interest income was $254.7 million for the first quarter of 2026, compared to $267.4 million for the fourth quarter of 2025, primarily due to decreases in average earning assets and earning asset yields, partially offset by a decrease in funding costs. Net interest margin for the first quarter of 2026 was 3.43%, an increase of 5 basis points from the fourth quarter of 2025. Loans held for investment ("LHI"), excluding mortgage finance, yields decreased 6 basis points from the fourth quarter of 2025 and LHI, mortgage finance, yields decreased 14 basis points from the fourth quarter of 2025. Total cost of deposits was 2.38% for the first quarter of 2026, a 3 basis point decrease from the fourth quarter of 2025.
Non-interest income for the first quarter of 2026 increased $9.2 million compared to the fourth quarter of 2025 primarily due to increases in investment banking and advisory fees, trading income and other non-interest income.
Non-interest expense for the first quarter of 2026 increased $29.4 million compared to the fourth quarter of 2025, primarily due to an increase in salaries and benefits, primarily as a result of the effect of seasonal payroll expenses that peak in the first quarter.
FIRST QUARTER 2026 COMPARED TO FIRST QUARTER 2025
Net income available to common stockholders was $69.5 million, or $1.56 per diluted share, for the first quarter of 2026, compared to $42.7 million, or $0.92 per diluted share, for the first quarter of 2025.
The first quarter of 2026 included a $16.0 million provision for credit losses, reflecting a linked quarter increase in criticized loans and $17.4 million in net charge-offs, compared to a $17.0 million provision for credit losses for the first quarter of 2025.
Net interest income increased to $254.7 million for the first quarter of 2026, compared to $236.0 million for the first quarter of 2025, primarily due to an increase in average earning assets and a decrease in funding costs. Net interest margin increased 24 basis points to 3.43% for the first quarter of 2026, as compared to the first quarter of 2025. LHI, excluding mortgage finance, yields decreased 21 basis points compared to the first quarter of 2025 and LHI, mortgage finance yields increased 6 basis points from the first quarter of 2025. Total cost of deposits decreased 38 basis points compared to the first quarter of 2025.
Non-interest income for the first quarter of 2026 increased $24.8 million compared to the first quarter of 2025 primarily due to increases in service charges on deposit accounts, investment banking and advisory fees, trading income and other non-interest income.
Non-interest expense for the first quarter of 2026 increased $10.5 million compared to the first quarter of 2025, primarily due to increases in salaries and benefits, occupancy expense and communications and technology expense, partially offset by a decrease in legal and professional expense.
CREDIT QUALITY
Net charge-offs of $17.4 million were recorded during the first quarter of 2026, compared to net charge-offs of $10.7 million and $9.8 million during the fourth quarter of 2025 and the first quarter of 2025, respectively. Criticized loans totaled $650.6 million at March 31, 2026, compared to $634.9 million at December 31, 2025 and $762.9 million at March 31, 2025. Non-accrual LHI totaled $144.9 million at March 31, 2026, compared to $116.9 million at December 31, 2025 and $93.6 million at March 31, 2025. The ratio of non-accrual LHI to total LHI for the first quarter of 2026 was 0.58%, compared to 0.49% for the fourth quarter of 2025 and 0.42% for the first quarter of 2025. The ratio of total allowance for credit losses to total LHI was 1.32% at March 31, 2026, compared to 1.38% and 1.48% at December 31, 2025 and March 31, 2025, respectively.
REGULATORY RATIOS AND CAPITAL
All regulatory ratios continue to be in excess of "well capitalized" requirements as of March 31, 2026. CET1, tier 1 capital, total capital and leverage ratios were 12.0%, 13.4%, 15.9% and 12.1%, respectively, at March 31, 2026, compared to 12.1%, 13.6%, 16.1% and 11.7%, respectively, at December 31, 2025 and 11.6%, 13.1%, 15.6% and 11.8%, respectively, at March 31, 2025. At March 31, 2026, our ratio of tangible common equity to total tangible assets was 9.9%, compared to 10.6% at December 31, 2025 and 10.0% at March 31, 2025.
During the first quarter of 2026, the Company repurchased 770,423 shares of its common stock for an aggregate purchase price, including excise tax expense, of $75.1 million, at a weighted average price of $96.82 per share.
PREFERRED AND COMMON DIVIDEND
Texas Capital Bancshares, Inc. and its board of directors declared and announced a cash dividend of $14.375 per share of the 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B (the "Series B Preferred Stock"), equivalent to $0.359375 per depositary share, each representing a 1/40th interest in a share of the Series B Preferred Stock. The depositary shares are traded on the NASDAQ under the symbol "TCBIO." The dividend is payable on June 15, 2026, to holders of record at the close of business on June 1, 2026.
Texas Capital Bancshares, Inc. and its board of directors declared and announced a cash dividend of $0.20 per common share. The common shares are traded on the NASDAQ under the symbol "TCBI." The dividend is payable on June 15, 2026, to holders of record at the close of business on June 1, 2026.
About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank ("TCB"). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit www.texascapital.com.
Forward Looking Statements
This communication contains "forward-looking statements" within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI's financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as "believes," "projects," "expects," "may," "estimates," "should," "plans," "targets," "intends" "could," "would," "anticipates," "potential," "confident," "optimistic" or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans.
Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management's expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management's control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including trade policies, geopolitical conflicts, inflation, including increased energy costs, unemployment rates and interest rates; TCBI's ability to innovate, to anticipate the needs of our current and future customers and to manage increased or expanded competition from banks and other financial service providers in TCBI's markets; TCBI's ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI's ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI's ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business, products and services; risks related to potential strategic acquisitions, including the risk that TCBI may not be able to consummate acquisitions on favorable terms, if at all, and the risk that TCBI may not realize the anticipated benefits from acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI's ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, outages, disruptions or security breaches; TCBI's ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI's securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI's risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI's loans; TCBI's ability to manage any unexpected outflows of uninsured deposits and avoid selling investment securities or other assets at an unfavorable time or at a loss; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; the failure to identify, attract and retain key personnel and other employees and to engage in adequate succession planning; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||||||
| SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED) | |||||||||||||||
| (dollars in thousands except per share data) | |||||||||||||||
| 1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | |||||||||||
| 2026 | 2025 | 2025 | 2025 | 2025 | |||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | |||||||||||||||
| Interest income | $ | 419,094 | $ | 444,314 | $ | 460,615 | $ | 439,567 | $ | 427,289 | |||||
| Interest expense | 164,375 | 176,877 | 188,844 | 186,172 | 191,255 | ||||||||||
| Net interest income | 254,719 | 267,437 | 271,771 | 253,395 | 236,034 | ||||||||||
| Provision for credit losses | 16,000 | 11,000 | 12,000 | 15,000 | 17,000 | ||||||||||
| Net interest income after provision for credit losses | 238,719 | 256,437 | 259,771 | 238,395 | 219,034 | ||||||||||
| Non-interest income | 69,266 | 60,046 | 68,583 | 54,069 | 44,444 | ||||||||||
| Non-interest expense | 213,568 | 184,198 | 190,575 | 190,276 | 203,020 | ||||||||||
| Income before income taxes | 94,417 | 132,285 | 137,779 | 102,188 | 60,458 | ||||||||||
| Income tax expense | 20,629 | 31,626 | 32,569 | 24,860 | 13,411 | ||||||||||
| Net income | 73,788 | 100,659 | 105,210 | 77,328 | 47,047 | ||||||||||
| Preferred stock dividends | 4,313 | 4,312 | 4,313 | 4,312 | 4,313 | ||||||||||
| Net income available to common stockholders | $ | 69,475 | $ | 96,347 | $ | 100,897 | $ | 73,016 | $ | 42,734 | |||||
| Diluted earnings per common share | $ | 1.56 | $ | 2.12 | $ | 2.18 | $ | 1.58 | $ | 0.92 | |||||
| Diluted common shares | 44,601,129 | 45,509,370 | 46,233,167 | 46,215,394 | 46,616,704 | ||||||||||
| CONSOLIDATED BALANCE SHEET DATA | |||||||||||||||
| Total assets | $ | 33,486,484 | $ | 31,540,274 | $ | 32,536,980 | $ | 31,943,535 | $ | 31,375,749 | |||||
| Loans held for investment | 18,217,976 | 17,976,183 | 18,134,059 | 18,035,945 | 17,654,243 | ||||||||||
| Loans held for investment, mortgage finance | 6,961,686 | 6,064,019 | 6,057,804 | 5,889,589 | 4,725,541 | ||||||||||
| Loans held for sale | 21,333 | 4,361 | — | — | — | ||||||||||
| Interest bearing cash and cash equivalents | 2,702,183 | 1,897,803 | 2,852,387 | 2,507,691 | 3,600,969 | ||||||||||
| Debt and equity securities | 4,673,355 | 4,723,099 | 4,601,654 | 4,608,628 | 4,531,219 | ||||||||||
| Non-interest bearing deposits | 7,634,618 | 6,959,097 | 7,689,598 | 7,718,006 | 7,874,780 | ||||||||||
| Total deposits | 28,516,688 | 26,448,767 | 27,505,398 | 26,064,309 | 26,053,034 | ||||||||||
| Short-term borrowings | — | 330,000 | 275,000 | 1,250,000 | 750,000 | ||||||||||
| Long-term debt | 878,293 | 620,575 | 620,416 | 620,256 | 660,521 | ||||||||||
| Stockholders' equity | 3,606,207 | 3,631,382 | 3,637,098 | 3,510,070 | 3,429,774 | ||||||||||
| End of period shares outstanding | 43,671,305 | 44,253,688 | 45,679,863 | 45,746,836 | 46,024,933 | ||||||||||
| Book value per share | $ | 75.71 | $ | 75.28 | $ | 73.05 | $ | 70.17 | $ | 68.00 | |||||
| Tangible book value per share(1) | $ | 75.67 | $ | 75.25 | $ | 73.02 | $ | 70.14 | $ | 67.97 | |||||
| SELECTED FINANCIAL RATIOS | |||||||||||||||
| Net interest margin | 3.43 | % | 3.38 | % | 3.47 | % | 3.35 | % | 3.19 | % | |||||
| Return on average assets | 0.95 | % | 1.22 | % | 1.30 | % | 0.99 | % | 0.61 | % | |||||
| Return on average assets, adjusted(4) | 0.97 | % | 1.20 | % | 1.30 | % | 1.02 | % | 0.61 | % | |||||
| Return on average common equity | 8.35 | % | 11.18 | % | 12.04 | % | 9.17 | % | 5.56 | % | |||||
| Return on average common equity, adjusted(4) | 8.48 | % | 10.98 | % | 12.04 | % | 9.48 | % | 5.56 | % | |||||
| Efficiency ratio(2) | 65.9 | % | 56.2 | % | 56.0 | % | 61.9 | % | 72.4 | % | |||||
| Efficiency ratio, adjusted(2)(4) | 65.5 | % | 56.9 | % | 56.0 | % | 61.1 | % | 72.4 | % | |||||
| Non-interest income to average earning assets | 0.93 | % | 0.76 | % | 0.88 | % | 0.72 | % | 0.60 | % | |||||
| Non-interest income to average earning assets, adjusted(4) | 0.93 | % | 0.76 | % | 0.88 | % | 0.74 | % | 0.60 | % | |||||
| Non-interest expense to average earning assets | 2.87 | % | 2.33 | % | 2.44 | % | 2.52 | % | 2.75 | % | |||||
| Non-interest expense to average earning assets, adjusted(4) | 2.85 | % | 2.35 | % | 2.44 | % | 2.50 | % | 2.75 | % | |||||
| Common equity to total assets | 9.9 | % | 10.6 | % | 10.3 | % | 10.1 | % | 10.0 | % | |||||
| Tangible common equity to total tangible assets(3) | 9.9 | % | 10.6 | % | 10.3 | % | 10.1 | % | 10.0 | % | |||||
| Common Equity Tier 1 ratio | 12.0 | % | 12.1 | % | 12.1 | % | 11.4 | % | 11.6 | % | |||||
| Tier 1 capital ratio | 13.4 | % | 13.6 | % | 13.6 | % | 12.9 | % | 13.1 | % | |||||
| Total capital ratio | 15.9 | % | 16.1 | % | 16.1 | % | 15.3 | % | 15.6 | % | |||||
| Leverage ratio | 12.1 | % | 11.7 | % | 11.9 | % | 11.8 | % | 11.8 | % | |||||
| (1) | Stockholders' equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end. |
| (2) | Non-interest expense divided by the sum of net interest income and non-interest income. |
| (3) | Stockholders' equity excluding preferred stock, less goodwill and intangibles, divided by total assets, less goodwill and intangibles. |
| (4) | These adjusted measures are non-GAAP measures. Please refer to "GAAP to Non-GAAP Reconciliations" for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure. |
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||||||
| CONSOLIDATED BALANCE SHEETS (UNAUDITED) | |||||||||||||||
| (dollars in thousands) | |||||||||||||||
| March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 | March 31, 2025 | |||||||||||
| Assets | |||||||||||||||
| Cash and due from banks | $ | 254,428 | $ | 201,315 | $ | 212,438 | $ | 182,451 | $ | 201,504 | |||||
| Interest bearing cash and cash equivalents | 2,702,183 | 1,897,803 | 2,852,387 | 2,507,691 | 3,600,969 | ||||||||||
| Available-for-sale debt securities | 3,913,855 | 3,951,455 | 3,801,261 | 3,774,141 | 3,678,378 | ||||||||||
| Held-to-maturity debt securities | 709,594 | 725,722 | 743,120 | 761,907 | 779,354 | ||||||||||
| Equity securities | 42,024 | 41,998 | 55,054 | 68,692 | 71,679 | ||||||||||
| Trading debt securities | 7,882 | 3,924 | 2,219 | 3,888 | 1,808 | ||||||||||
| Debt and equity securities | 4,673,355 | 4,723,099 | 4,601,654 | 4,608,628 | 4,531,219 | ||||||||||
| Loans held for sale | 21,333 | 4,361 | — | — | — | ||||||||||
| Loans held for investment, mortgage finance | 6,961,686 | 6,064,019 | 6,057,804 | 5,889,589 | 4,725,541 | ||||||||||
| Loans held for investment | 18,217,976 | 17,976,183 | 18,134,059 | 18,035,945 | 17,654,243 | ||||||||||
| Less: Allowance for credit losses on loans | 270,441 | 270,557 | 274,026 | 277,648 | 278,379 | ||||||||||
| Loans held for investment, net | 24,909,221 | 23,769,645 | 23,917,837 | 23,647,886 | 22,101,405 | ||||||||||
| Premises and equipment, net | 85,698 | 88,003 | 88,348 | 86,831 | 84,575 | ||||||||||
| Accrued interest receivable and other assets | 838,770 | 854,552 | 862,820 | 908,552 | 854,581 | ||||||||||
| Goodwill and intangibles, net | 1,496 | 1,496 | 1,496 | 1,496 | 1,496 | ||||||||||
| Total assets | $ | 33,486,484 | $ | 31,540,274 | $ | 32,536,980 | $ | 31,943,535 | $ | 31,375,749 | |||||
| Liabilities and Stockholders' Equity | |||||||||||||||
| Liabilities: | |||||||||||||||
| Non-interest bearing deposits | $ | 7,634,618 | $ | 6,959,097 | $ | 7,689,598 | $ | 7,718,006 | $ | 7,874,780 | |||||
| Interest bearing deposits | 20,882,070 | 19,489,670 | 19,815,800 | 18,346,303 | 18,178,254 | ||||||||||
| Total deposits | 28,516,688 | 26,448,767 | 27,505,398 | 26,064,309 | 26,053,034 | ||||||||||
| Accrued interest payable | 9,420 | 6,716 | 9,360 | 14,120 | 25,270 | ||||||||||
| Other liabilities | 475,876 | 502,834 | 489,708 | 484,780 | 457,150 | ||||||||||
| Short-term borrowings | — | 330,000 | 275,000 | 1,250,000 | 750,000 | ||||||||||
| Long-term debt | 878,293 | 620,575 | 620,416 | 620,256 | 660,521 | ||||||||||
| Total liabilities | 29,880,277 | 27,908,892 | 28,899,882 | 28,433,465 | 27,945,975 | ||||||||||
| Stockholders' equity: | |||||||||||||||
| Preferred stock, $.01 par value, $1,000 liquidation value: | |||||||||||||||
| Authorized shares - 10,000,000 | |||||||||||||||
| Issued shares(1) | 300,000 | 300,000 | 300,000 | 300,000 | 300,000 | ||||||||||
| Common stock, $.01 par value: | |||||||||||||||
| Authorized shares - 100,000,000 | |||||||||||||||
| Issued shares(2) | 520 | 518 | 518 | 517 | 517 | ||||||||||
| Additional paid-in capital | 1,077,139 | 1,074,496 | 1,069,582 | 1,065,083 | 1,060,028 | ||||||||||
| Retained earnings | 2,878,120 | 2,808,645 | 2,712,298 | 2,611,401 | 2,538,385 | ||||||||||
| Treasury stock(3) | (562,833 | ) | (487,692 | ) | (361,076 | ) | (354,000 | ) | (332,994 | ) | |||||
| Accumulated other comprehensive loss, net of taxes | (86,739 | ) | (64,585 | ) | (84,224 | ) | (112,931 | ) | (136,162 | ) | |||||
| Total stockholders' equity | 3,606,207 | 3,631,382 | 3,637,098 | 3,510,070 | 3,429,774 | ||||||||||
| Total liabilities and stockholders' equity | $ | 33,486,484 | $ | 31,540,274 | $ | 32,536,980 | $ | 31,943,535 | $ | 31,375,749 | |||||
| (1) Preferred stock - issued shares | 300,000 | 300,000 | 300,000 | 300,000 | 300,000 | ||||||||||
| (2) Common stock - issued shares | 51,974,496 | 51,786,456 | 51,767,419 | 51,747,305 | 51,707,542 | ||||||||||
| (3) Treasury stock - shares at cost | 8,303,191 | 7,532,768 | 6,087,556 | 6,000,469 | 5,682,609 | ||||||||||
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||
| CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | |||||||||||
| (dollars in thousands except per share data) | |||||||||||
| 1st Quarter 2026 | 4th Quarter 2025 | 3rd Quarter 2025 | 2nd Quarter 2025 | 1st Quarter 2025 | |||||||
| Interest income | |||||||||||
| Interest and fees on loans | $ | 348,020 | $ | 367,481 | $ | 379,017 | $ | 364,358 | $ | 334,150 | |
| Debt and equity securities | 49,590 | 47,012 | 49,396 | 45,991 | 46,565 | ||||||
| Interest bearing cash and cash equivalents | 21,484 | 29,821 | 32,202 | 29,218 | 46,574 | ||||||
| Total interest income | 419,094 | 444,314 | 460,615 | 439,567 | 427,289 | ||||||
| Interest expense | |||||||||||
| Deposits | 153,904 | 167,259 | 180,779 | 174,798 | 174,936 | ||||||
| Short-term borrowings | 2,360 | 2,153 | 534 | 3,444 | 8,246 | ||||||
| Long-term debt | 8,111 | 7,465 | 7,531 | 7,930 | 8,073 | ||||||
| Total interest expense | 164,375 | 176,877 | 188,844 | 186,172 | 191,255 | ||||||
| Net interest income | 254,719 | 267,437 | 271,771 | 253,395 | 236,034 | ||||||
| Provision for credit losses | 16,000 | 11,000 | 12,000 | 15,000 | 17,000 | ||||||
| Net interest income after provision for credit losses | 238,719 | 256,437 | 259,771 | 238,395 | 219,034 | ||||||
| Non-interest income | |||||||||||
| Service charges on deposit accounts | 9,223 | 8,411 | 8,111 | 8,182 | 7,840 | ||||||
| Wealth management and trust fee income | 4,388 | 4,216 | 3,989 | 3,730 | 3,964 | ||||||
| Brokered loan fees | 2,006 | 2,467 | 2,419 | 2,398 | 1,949 | ||||||
| Investment banking and advisory fees | 32,016 | 30,015 | 33,985 | 24,109 | 16,478 | ||||||
| Trading income | 10,251 | 6,020 | 7,238 | 7,896 | 5,939 | ||||||
| Available-for-sale debt securities gains/(losses), net | — | — | — | (1,886 | ) | — | |||||
| Other | 11,382 | 8,917 | 12,841 | 9,640 | 8,274 | ||||||
| Total non-interest income | 69,266 | 60,046 | 68,583 | 54,069 | 44,444 | ||||||
| Non-interest expense | |||||||||||
| Salaries and benefits | 139,347 | 108,851 | 119,856 | 120,154 | 131,641 | ||||||
| Occupancy expense | 12,405 | 12,803 | 11,828 | 12,144 | 10,844 | ||||||
| Marketing | 4,972 | 5,404 | 3,412 | 3,624 | 5,009 | ||||||
| Legal and professional | 11,980 | 11,580 | 12,474 | 11,069 | 14,989 | ||||||
| Communications and technology | 27,172 | 26,303 | 24,594 | 24,314 | 23,642 | ||||||
| Federal Deposit Insurance Corporation insurance assessment | 4,877 | 2,276 | 5,198 | 5,096 | 5,341 | ||||||
| Other | 12,815 | 16,981 | 13,213 | 13,875 | 11,554 | ||||||
| Total non-interest expense | 213,568 | 184,198 | 190,575 | 190,276 | 203,020 | ||||||
| Income before income taxes | 94,417 | 132,285 | 137,779 | 102,188 | 60,458 | ||||||
| Income tax expense | 20,629 | 31,626 | 32,569 | 24,860 | 13,411 | ||||||
| Net income | 73,788 | 100,659 | 105,210 | 77,328 | 47,047 | ||||||
| Preferred stock dividends | 4,313 | 4,312 | 4,313 | 4,312 | 4,313 | ||||||
| Net income available to common stockholders | $ | 69,475 | $ | 96,347 | $ | 100,897 | $ | 73,016 | $ | 42,734 | |
| Basic earnings per common share | $ | 1.58 | $ | 2.14 | $ | 2.21 | $ | 1.59 | $ | 0.93 | |
| Diluted earnings per common share | $ | 1.56 | $ | 2.12 | $ | 2.18 | $ | 1.58 | $ | 0.92 | |
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||||||
| SUMMARY OF CREDIT LOSS EXPERIENCE | |||||||||||||||
| (dollars in thousands) | |||||||||||||||
| 1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | |||||||||||
| 2026 | 2025 | 2025 | 2025 | 2025 | |||||||||||
| Allowance for credit losses on loans: | |||||||||||||||
| Beginning balance | $ | 270,557 | $ | 274,026 | $ | 277,648 | $ | 278,379 | $ | 271,709 | |||||
| Loans charged-off: | |||||||||||||||
| Commercial | 17,489 | 14,417 | 13,794 | 13,020 | 10,197 | ||||||||||
| Commercial real estate | — | 524 | — | 431 | 500 | ||||||||||
| Total charge-offs | 17,489 | 14,941 | 13,794 | 13,451 | 10,697 | ||||||||||
| Recoveries: | |||||||||||||||
| Commercial | 131 | 4,202 | 50 | 486 | 483 | ||||||||||
| Commercial real estate | — | — | — | — | 413 | ||||||||||
| Consumer | — | 12 | 4 | — | 4 | ||||||||||
| Total recoveries | 131 | 4,214 | 54 | 486 | 900 | ||||||||||
| Net charge-offs | 17,358 | 10,727 | 13,740 | 12,965 | 9,797 | ||||||||||
| Provision for credit losses on loans | 17,242 | 7,258 | 10,118 | 12,234 | 16,467 | ||||||||||
| Ending balance | $ | 270,441 | $ | 270,557 | $ | 274,026 | $ | 277,648 | $ | 278,379 | |||||
| Allowance for off-balance sheet credit losses: | |||||||||||||||
| Beginning balance | $ | 62,255 | $ | 58,513 | $ | 56,631 | $ | 53,865 | $ | 53,332 | |||||
| Provision for off-balance sheet credit losses | (1,242 | ) | 3,742 | 1,882 | 2,766 | 533 | |||||||||
| Ending balance | $ | 61,013 | $ | 62,255 | $ | 58,513 | $ | 56,631 | $ | 53,865 | |||||
| Total allowance for credit losses | $ | 331,454 | $ | 332,812 | $ | 332,539 | $ | 334,279 | $ | 332,244 | |||||
| Total provision for credit losses | $ | 16,000 | $ | 11,000 | $ | 12,000 | $ | 15,000 | $ | 17,000 | |||||
| Allowance for credit losses on loans to total loans held for investment | 1.07 | % | 1.13 | % | 1.13 | % | 1.16 | % | 1.24 | % | |||||
| Allowance for credit losses on loans to average total loans held for investment | 1.16 | % | 1.12 | % | 1.15 | % | 1.19 | % | 1.29 | % | |||||
| Net charge-offs to average total loans held for investment(1) | 0.30 | % | 0.18 | % | 0.23 | % | 0.22 | % | 0.18 | % | |||||
| Net charge-offs to average total loans held for investment for last 12 months(1) | 0.23 | % | 0.20 | % | 0.21 | % | 0.18 | % | 0.18 | % | |||||
| Total provision for credit losses to average total loans held for investment(1) | 0.28 | % | 0.18 | % | 0.20 | % | 0.26 | % | 0.32 | % | |||||
| Total allowance for credit losses to total loans held for investment | 1.32 | % | 1.38 | % | 1.37 | % | 1.40 | % | 1.48 | % | |||||
| (1) Interim period ratios are annualized. | |||||||||||||||
| TEXAS CAPITAL BANCSHARES, INC. | |||||||||||||||
| NON-PERFORMING ASSETS, PAST DUE LOANS AND CRITICIZED LOANS | |||||||||||||||
| (dollars in thousands) | |||||||||||||||
| 1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | |||||||||||
| 2026 | 2025 | 2025 | 2025 | 2025 | |||||||||||
| NON-PERFORMING ASSETS | |||||||||||||||
| Non-accrual loans held for investment | $ | 144,947 | $ | 116,880 | $ | 96,084 | $ | 113,609 | $ | 93,565 | |||||
| Non-accrual loans held for sale(1) | 21,333 | 4,361 | — | — | — | ||||||||||
| Other real estate owned | — | — | — | — | — | ||||||||||
| Total non-performing assets | $ | 166,280 | $ | 121,241 | $ | 96,084 | $ | 113,609 | $ | 93,565 | |||||
| Non-accrual loans held for investment to total loans held for investment | 0.58 | % | 0.49 | % | 0.40 | % | 0.47 | % | 0.42 | % | |||||
| Total non-performing assets to total assets | 0.50 | % | 0.38 | % | 0.30 | % | 0.36 | % | 0.30 | % | |||||
| Allowance for credit losses on loans to non-accrual loans held for investment | 1.9x | 2.3x | 2.9x | 2.4x | 3.0x | ||||||||||
| Total allowance for credit losses to non-accrual loans held for investment | 2.3x | 2.8x | 3.5x | 2.9x | 3.6x | ||||||||||
| LOANS PAST DUE | |||||||||||||||
| Loans held for investment past due 90 days and still accruing | $ | 18,030 | $ | 19,353 | $ | 126 | $ | 2,068 | $ | 791 | |||||
| Loans held for investment past due 90 days to total loans held for investment | 0.07 | % | 0.08 | % | — | % | 0.01 | % | — | % | |||||
| Loans held for sale past due 90 days and still accruing | $ | — | $ | — | $ | — | $ | — | $ | — | |||||
| CRITICIZED LOANS | |||||||||||||||
| Criticized loans | $ | 650,615 | $ | 634,919 | $ | 529,732 | $ | 637,462 | $ | 762,887 | |||||
| Criticized loans to total loans held for investment | 2.58 | % | 2.64 | % | 2.19 | % | 2.66 | % | 3.41 | % | |||||
| Special mention loans | $ | 366,422 | $ | 346,643 | $ | 249,592 | $ | 339,923 | $ | 484,165 | |||||
| Special mention loans to total loans held for investment | 1.46 | % | 1.44 | % | 1.03 | % | 1.42 | % | 2.16 | % | |||||
| (1) First quarter 2026 and fourth quarter 2025 includes non-accrual loans previously reported in loans held for investment that were transferred at fair value to held for sale as of March 31, 2026 and December 31, 2025, respectively. | |||||||||||||||
| TEXAS CAPITAL BANCSHARES, INC. | ||||||||||||||||||||
| TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1) | ||||||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||
| 1st Quarter 2026 | 4th Quarter 2025 | 1st Quarter 2025 | ||||||||||||||||||
| Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | Average Balance | Income/ Expense | Yield/ Rate | ||||||||||||
| Assets | ||||||||||||||||||||
| Debt and equity securities(2) | $ | 4,635,471 | $ | 49,598 | 4.30 | % | $ | 4,629,242 | $ | 47,025 | 3.98 | % | $ | 4,463,876 | $ | 46,565 | 4.10 | % | ||
| Interest bearing cash and cash equivalents | 2,419,518 | 21,484 | 3.60 | % | 2,994,417 | 29,821 | 3.95 | % | 4,255,796 | 46,574 | 4.44 | % | ||||||||
| Loans held for sale(3) | 3,096 | — | — | % | 47 | — | — | % | 335 | 2 | 2.97 | % | ||||||||
| Loans held for investment, mortgage finance | 5,239,103 | 51,573 | 3.99 | % | 5,890,991 | 61,319 | 4.13 | % | 3,972,106 | 38,527 | 3.93 | % | ||||||||
| Loans held for investment(3) | 18,172,432 | 297,352 | 6.64 | % | 18,177,312 | 307,053 | 6.70 | % | 17,527,070 | 296,091 | 6.85 | % | ||||||||
| Less: Allowance for credit losses on loans | 268,422 | — | — | % | 278,315 | — | — | 272,758 | — | — | % | |||||||||
| Loans held for investment, net | 23,143,113 | 348,925 | 6.11 | % | 23,789,988 | 368,372 | 6.14 | % | 21,226,418 | 334,618 | 6.39 | % | ||||||||
| Total earning assets | 30,201,198 | 420,007 | 5.63 | % | 31,413,694 | 445,218 | 5.61 | % | 29,946,425 | 427,759 | 5.76 | % | ||||||||
| Cash and other assets | 1,173,895 | 1,192,624 | 1,157,184 | |||||||||||||||||
| Total assets | $ | 31,375,093 | $ | 32,606,318 | $ | 31,103,609 | ||||||||||||||
| Liabilities and Stockholders' Equity | ||||||||||||||||||||
| Transaction deposits | $ | 2,605,884 | $ | 14,980 | 2.33 | % | $ | 2,470,262 | $ | 13,468 | 2.16 | % | $ | 2,163,250 | $ | 13,908 | 2.61 | % | ||
| Savings deposits | 14,148,034 | 118,695 | 3.40 | % | 14,453,912 | 130,536 | 3.58 | % | 13,357,243 | 133,577 | 4.06 | % | ||||||||
| Time deposits | 2,020,757 | 20,229 | 4.06 | % | 2,207,631 | 23,255 | 4.18 | % | 2,329,384 | 27,451 | 4.78 | % | ||||||||
| Total interest bearing deposits | 18,774,675 | 153,904 | 3.32 | % | 19,131,805 | 167,259 | 3.47 | % | 17,849,877 | 174,936 | 3.97 | % | ||||||||
| Short-term borrowings | 257,989 | 2,360 | 3.71 | % | 221,250 | 2,153 | 3.86 | % | 751,500 | 8,246 | 4.45 | % | ||||||||
| Long-term debt | 675,780 | 8,111 | 4.87 | % | 620,505 | 7,465 | 4.77 | % | 660,445 | 8,073 | 4.96 | % | ||||||||
| Total interest bearing liabilities | 19,708,444 | 164,375 | 3.38 | % | 19,973,560 | 176,877 | 3.51 | % | 19,261,822 | 191,255 | 4.03 | % | ||||||||
| Non-interest bearing deposits | 7,489,751 | 8,455,034 | 7,875,244 | |||||||||||||||||
| Other liabilities | 503,038 | 457,757 | 552,154 | |||||||||||||||||
| Stockholders' equity | 3,673,860 | 3,719,967 | 3,414,389 | |||||||||||||||||
| Total liabilities and stockholders' equity | $ | 31,375,093 | $ | 32,606,318 | $ | 31,103,609 | ||||||||||||||
| Net interest income | $ | 255,632 | $ | 268,341 | $ | 236,504 | ||||||||||||||
| Net interest margin | 3.43 | % | 3.38 | % | 3.19 | % | ||||||||||||||
| (1) Taxable equivalent rates used where applicable. | ||||||||||||||||||||
| (2) Yields are calculated using available-for-sale debt securities at amortized cost. | ||||||||||||||||||||
| (3) Average balances include non-accrual loans. | ||||||||||||||||||||
GAAP TO NON-GAAP RECONCILIATIONS
The following items are non-GAAP financial measures: adjusted non-interest income, adjusted total revenue, adjusted non-interest expense, adjusted income tax expense, adjusted net income, adjusted net income available to common stockholders, adjusted pre-provision net revenue ("PPNR"), adjusted diluted earnings per common share, adjusted return on average assets, adjusted return on average common equity, adjusted efficiency ratio, adjusted non-interest income to average earning assets and adjusted non-interest expense to average earning assets. These are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The table below provides a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures.
These non-GAAP financial measures are adjusted for certain items, listed below, that management believes are non-operating in nature and not representative of its actual operating performance. Management believes that these non-GAAP financial measures provide meaningful additional information about Texas Capital Bancshares, Inc. to assist management and investors in evaluating operating results, financial strength, business performance and capital position. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. As such, these non-GAAP financial measures should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP.
| Reconciliation of Non-GAAP Financial Measures | |||||||||||||||
| (dollars in thousands except per share data) | 1st Quarter 2026 | 4th Quarter 2025 | 3rd Quarter 2025 | 2nd Quarter 2025 | 1st Quarter 2025 | ||||||||||
| Net interest income | $ | 254,719 | $ | 267,437 | $ | 271,771 | $ | 253,395 | $ | 236,034 | |||||
| Non-interest income | 69,266 | 60,046 | 68,583 | 54,069 | 44,444 | ||||||||||
| Available-for-sale debt securities losses, net | — | — | — | 1,886 | — | ||||||||||
| Non-interest income, adjusted | 69,266 | 60,046 | 68,583 | 55,955 | 44,444 | ||||||||||
| Total revenue(1) | 323,985 | 327,483 | 340,354 | 307,464 | 280,478 | ||||||||||
| Total revenue, adjusted(1) | 323,985 | 327,483 | 340,354 | 309,350 | 280,478 | ||||||||||
| Non-interest expense | 213,568 | 184,198 | 190,575 | 190,276 | 203,020 | ||||||||||
| FDIC special assessment | — | 2,242 | — | — | — | ||||||||||
| Restructuring expenses | (1,401 | ) | — | — | (1,401 | ) | — | ||||||||
| Non-interest expense, adjusted | 212,167 | 186,440 | 190,575 | 188,875 | 203,020 | ||||||||||
| Provision for credit losses | 16,000 | 11,000 | 12,000 | 15,000 | 17,000 | ||||||||||
| Income tax expense | 20,629 | 31,626 | 32,569 | 24,860 | 13,411 | ||||||||||
| Tax effect of adjustments | 339 | (526 | ) | — | 774 | — | |||||||||
| Income tax expense, adjusted | 20,968 | 31,100 | 32,569 | 25,634 | 13,411 | ||||||||||
| Net income(2) | $ | 73,788 | $ | 100,659 | $ | 105,210 | $ | 77,328 | $ | 47,047 | |||||
| Net income, adjusted(2) | $ | 74,850 | $ | 98,943 | $ | 105,210 | $ | 79,841 | $ | 47,047 | |||||
| Preferred stock dividends | 4,313 | 4,312 | 4,313 | 4,312 | 4,313 | ||||||||||
| Net income to common stockholders(3) | $ | 69,475 | $ | 96,347 | $ | 100,897 | $ | 73,016 | $ | 42,734 | |||||
| Net income to common stockholders, adjusted(3) | $ | 70,537 | $ | 94,631 | $ | 100,897 | $ | 75,529 | $ | 42,734 | |||||
| PPNR(4) | $ | 110,417 | $ | 143,285 | $ | 149,779 | $ | 117,188 | $ | 77,458 | |||||
| PPNR, adjusted(4) | $ | 111,818 | $ | 141,043 | $ | 149,779 | $ | 120,475 | $ | 77,458 | |||||
| Weighted average common shares outstanding, diluted | 44,601,129 | 45,509,370 | 46,233,167 | 46,215,394 | 46,616,704 | ||||||||||
| Diluted earnings per common share | $ | 1.56 | $ | 2.12 | $ | 2.18 | $ | 1.58 | $ | 0.92 | |||||
| Diluted earnings per common share, adjusted | $ | 1.58 | $ | 2.08 | $ | 2.18 | $ | 1.63 | $ | 0.92 | |||||
| Average total assets | $ | 31,375,093 | $ | 32,606,318 | $ | 32,162,709 | $ | 31,419,469 | $ | 31,103,609 | |||||
| Return on average assets | 0.95 | % | 1.22 | % | 1.30 | % | 0.99 | % | 0.61 | % | |||||
| Return on average assets, adjusted | 0.97 | % | 1.20 | % | 1.30 | % | 1.02 | % | 0.61 | % | |||||
| Average common equity | $ | 3,373,860 | $ | 3,419,967 | $ | 3,324,184 | $ | 3,195,041 | $ | 3,114,389 | |||||
| Return on average common equity | 8.35 | % | 11.18 | % | 12.04 | % | 9.17 | % | 5.56 | % | |||||
| Return on average common equity, adjusted | 8.48 | % | 10.98 | % | 12.04 | % | 9.48 | % | 5.56 | % | |||||
| Efficiency ratio(5) | 65.9 | % | 56.2 | % | 56.0 | % | 61.9 | % | 72.4 | % | |||||
| Efficiency ratio, adjusted(5) | 65.5 | % | 56.9 | % | 56.0 | % | 61.1 | % | 72.4 | % | |||||
| Average earning assets | $ | 30,201,198 | $ | 31,413,694 | $ | 31,003,701 | $ | 30,302,351 | $ | 29,946,425 | |||||
| Non-interest income to average earning assets | 0.93 | % | 0.76 | % | 0.88 | % | 0.72 | % | 0.60 | % | |||||
| Non-interest income to average earning assets, adjusted | 0.93 | % | 0.76 | % | 0.88 | % | 0.74 | % | 0.60 | % | |||||
| Non-interest expense to average earning assets | 2.87 | % | 2.33 | % | 2.44 | % | 2.52 | % | 2.75 | % | |||||
| Non-interest expense to average earning assets, adjusted | 2.85 | % | 2.35 | % | 2.44 | % | 2.50 | % | 2.75 | % | |||||
(1) Net interest income plus non-interest income. On an adjusted basis, net interest income plus non-interest income, adjusted.
(2) Net interest income plus non-interest income, less non-interest expense, provision for credit losses and income tax expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted, provision for credit losses and income tax expense, adjusted.
(3) Net income, less preferred stock dividends. On an adjusted basis, net income, adjusted, less preferred stock dividends.
(4) Net interest income plus non-interest income, less non-interest expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted.
(5) Non-interest expense divided by the sum of net interest income and non-interest income. On an adjusted basis, non-interest expense, adjusted, divided by the sum of net interest income and non-interest income, adjusted.
INVESTOR CONTACT Jocelyn Kukulka, 469.399.8544 jocelyn.kukulka@texascapital.com
