Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced earnings and operating results for the fourth quarter and full year of 2011.
- Net income increased 104% for the year, 19% on a linked quarter basis and 113% for the fourth quarter of 2011 as compared to the same quarter of 2010
- EPS increased 99% for the year, 20% on a linked quarter basis and 109% for the fourth quarter of 2011 as compared to the same quarter of 2010
- Demand deposits increased 21% and total deposits increased 2% from 2010; linked quarter increases of 5% and 1%, respectively
- Loans held for investment increased 18% and total loans increased 30% from 2010, reflecting linked quarter increases of 5% and 6%, respectively
“We are pleased to report another year of industry-leading growth and record profitability for Texas Capital,” said George Jones, CEO. “Especially noteworthy are improvements in operating leverage, credit quality and market share gains in key lines of business. We believe the performance has been exceptional in light of what remains a challenging environment for the banking industry.”Texas Capital Bancshares, Inc.
|(dollars and shares in thousands)|
|ANNUAL OPERATING RESULTS (1)|
|QUARTERLY OPERATING RESULTS (1)|
|BALANCE SHEET (1)|
|Loans Held for Investment||5,572,371||4,711,330||18||%|
|(1) Operating results, assets and loans are reporting from continuing operations|
Texas Capital Bancshares, Inc. reported net income from continuing operations of $76.1 million for the year ended December 31, 2011 compared to $37.3 million in 2010. For the fourth quarter of 2011, we earned $25.7 million compared to $12.1 million for the same period in 2010. On a fully diluted basis, earnings per common share from continuing operations were $1.99 for the year ended December 31, 2011, compared to $1.00 for 2010. For the fourth quarter of 2011, diluted earnings per share was $.67 compared to $.32 for the same period in 2010. The discussion below relates only to continuing operations.
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