Exhibit 99.1 INVESTOR CONTACT Jocelyn Kukulka, 469.399.8544 jocelyn.kukulka@texascapitalbank.com MEDIA CONTACT Julia Monter, 469.399.8425 julia.monter@texascapitalbank.com TEXAS CAPITAL BANCSHARES, INC. ANNOUNCES FIRST QUARTER 2024 RESULTS First quarter 2024 net income of $26.1 million and net income available to common stockholders of $21.8 million, or $0.46 per diluted share First quarter 2024 growth in loans held for investment of 2.4% and in total deposits of 7.1% Capital ratios continue to be strong, i ...

Regulatory Compliance - The Company is subject to regulatory capital requirements that may change, potentially requiring an increase in capital allocation to assets held by the Bank[61]. - The Company is required to comply with the Community Reinvestment Act (CRA), which mandates meeting the credit needs of market areas, and is subject to periodic examinations[78]. - The revised CRA regulations, effective January 1, 2026, will alter compliance assessment methodologies, potentially increasing challenges for the Bank to achieve satisfactory ratings[79]. - The Company has invested significant resources to comply with anti-money laundering laws and regulations, including the Bank Secrecy Act and the Anti-Money Laundering Act of 2020[80][82]. - The Company must adhere to the Office of Foreign Assets Control (OFAC) regulations, which require blocking transactions with prohibited parties, to avoid legal and reputational risks[83]. - Federal banking agencies have broad authority to enforce operational and managerial standards, and failure to comply may result in enforcement actions against the Bank[85]. Capital and Liquidity - The capital categories for insured depository institutions include "well capitalized" (≥10% total risk-based capital ratio), "adequately capitalized" (≥8%), "undercapitalized" (<8%), "significantly undercapitalized" (<6%), and "critically undercapitalized" (tangible equity to total assets ≤2%)[64]. - The liquidity coverage ratio (LCR) and net stable funding ratio (NSFR) are designed to ensure adequate liquidity and promote long-term funding, although they are not currently applicable to the Company[70][71]. - The Bank's deposits are insured up to $250,000 per depositor, per account ownership category, per bank, as per FDIC regulations[91]. - The FDIC has established a plan to restore the Deposit Insurance Fund (DIF) reserve ratio to at least 1.35% by September 30, 2028, with an amended restoration plan increasing the initial base deposit insurance assessment rate by 2 basis points starting in 2023[92]. Market Risk Management - The Company uses Value-at-Risk (VaR) to measure market risk, with no significant market risk exposure reported as of December 31, 2023[269]. - The Company utilizes derivative transactions to manage interest rate, prepayment, credit, price, and foreign currency fluctuations[278]. - Derivative contracts are designated as fair value hedges, cash flow hedges, or net investment hedges, depending on the nature of the transaction[279]. - The Company’s interest rate risk exposure model incorporates updated assumptions regarding deposit behaviors and loan prepayment in response to market rate changes[277]. - The simulations used to manage market risk are based on numerous assumptions, which are inherently uncertain and may lead to actual results differing from simulated results[277]. - Interest rate derivative contracts are employed to support customer-related positions and manage asset/liability risk[280]. Interest Rate Sensitivity - As of December 31, 2023, the Company's total interest-sensitive assets amount to $27,650,472,000, while total interest-sensitive liabilities are $17,402,710,000, resulting in a positive gap of $6,546,686,000[272]. - The Company has a cumulative gap of $10,247,762,000 as of December 31, 2023, indicating a strong asset sensitivity position[272]. - As of December 31, 2023, a 200 basis point increase in interest rates is projected to result in a 3.2% annualized hypothetical change in net interest income, compared to 14.5% in 2022[277]. - A 100 basis point increase in interest rates is expected to lead to a 1.6% change in net interest income for 2023, down from 8.0% in 2022[277]. - The model indicates that a 100 basis point decrease in interest rates would result in a (4.4)% change in net interest income, while a 200 basis point decrease would lead to a (9.1)% change[277]. - The Company will continue to evaluate interest rate scenarios as they change, with a focus on the impact of both increases and decreases in rates[276]. Regulatory Impact - The Volcker Rule has not materially affected the Company's operations, although future interpretations may pose risks[94]. - The Dodd-Frank Act limits interchange fees for electronic debit transactions to 21 cents plus 0.05% of the transaction value, with a proposed reduction in maximum interchange fees for large debit card issuers[95]. - The Federal Reserve, OCC, and FDIC issued guidance in 2010 to ensure that incentive compensation policies do not encourage excessive risk-taking, with rules proposed in 2016 still pending implementation[90]. - The FDIC approved a special assessment in November 2023 to recover losses associated with bank failures, to be collected at an annual rate of approximately 13.4 basis points over eight quarterly assessment periods starting in 2024[93].

Financial Data and Key Metrics Changes - The firm reported a full-year adjusted PPNR growth of 14% to $338 million, with fee revenue growth of 60% and EPS growth of 23% [7][37][68] - Total adjusted revenue increased by $99 million or 10% for the full year, benefiting from a 60% increase in noninterest income [67] - The year-end CET1 ratio was 12.6%, ranking fourth among the largest banks in the country, while tangible common equity to tangible assets reached an all-time high of 10.2% [24][82] Business Line Data and Key Metrics Changes - Treasury product fees were $7.8 million in the quarter, up 10% year-over-year, reflecting the addition of primary banking relationships [14] - Investment banking and trading income decreased to $10.7 million, down from record levels in the previous four quarters [15] - Wealth management income decreased by 7% during the year due to client preference for managed liquidity options [65] Market Data and Key Metrics Changes - The firm experienced a 23% increase in volumes flowing through its payment system over the last two years, contributing to an 11% improvement in gross payment revenues in 2023 [26] - Average mortgage finance loans decreased by $751 million or 16% in the quarter, reflecting seasonal trends in home buying [71] - Ending period mortgage finance noninterest-bearing deposit balances decreased by $1.7 billion quarter-over-quarter due to seasonal tax payments [43] Company Strategy and Development Direction - The company is focused on enhancing the resiliency of its balance sheet and business model over near-term growth, with significant investments made to support scalable businesses [25] - The strategy includes deepening client relationships rather than expanding market share, with a focus on improving service models [10] - The firm aims to leverage its cash management platform to drive deeper client relationships and outperformance relative to the industry [42] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the mortgage finance industry is facing its most challenging operating environment in the last 15 years, but expects a recovery in origination volumes as market conditions improve [28][40] - The firm anticipates mid-single-digit growth in revenue for 2024, supported by continued execution across income areas and a slowing of capital recycling efforts [83] - Management remains conservative in its outlook, elevating annual provision expense guidance to 50 basis points of LHI, excluding mortgage finance [85] Other Important Information - The firm repurchased approximately 3.7% of total shares outstanding during the year, at a weighted average price equal to the prior month tangible book value [31][51] - The total allowance for credit loss increased to $296 million or 1.46% of total LHI at quarter end, reflecting anticipated economic challenges [48] Q&A Session Summary Question: Can you provide more details on the revenue guidance and deposit betas? - Management indicated that deposit betas are expected to be limited initially but will build over time as the Fed cuts rates, with a focus on improving productivity in the expense base [62][88] Question: What is the target state composition of the funding base? - Management stated that while they will never hit a target state composition, significant progress has been made in improving the quality of deposits [100] Question: How do you expect mortgage finance loans and deposits to track in 2024? - Management expects average mortgage finance loans to pick up in Q2 and Q3, with a self-funding ratio normalizing back to around 120% [132]

Q3-2023 Earnings October 19, 2023 © 2023 Texas Capital Bank Member FDIC Forward-Looking Statements 2 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, ...

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Q3 2023 Earnings Call Transcript October 19, 2023 9:00 AM ET Company Participants Jocelyn Kukulka - Head of IR Rob Holmes - President and CEO Matt Scurlock - CFO Conference Call Participants Michael Rose - Raymond James Matt Olney - Stephens Zachary Westerlind - UBS Brady Gailey - KBW Operator Hello, all, and welcome to TCBI's Third Quarter 2023 Earnings Call. My name is Lydia, and I will be your operator today. [Operator Instructions] It's my pleasure to now han ...

PART I - FINANCIAL INFORMATION This section provides unaudited consolidated financial statements and management's analysis for the period ended September 30, 2023 [ITEM 1. FINANCIAL STATEMENTS - UNAUDITED](index=3&type=section&id=Item%201.%20Financial%20Statements%20-%20Unaudited) This section presents unaudited consolidated financial statements, including balance sheets, income statements, cash flows, and detailed accounting notes [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) This chapter summarizes the Company's financial position, detailing assets, liabilities, and equity as of September 30, 2023 Consolidated Balance Sheet Highlights (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :-------------------------------- | :----------- | :----------- | | **Assets** | | | | Total assets | $29,628,249 | $28,414,642 | | Loans held for investment, net | $20,368,469 | $19,033,871 | | Investment securities | $4,069,717 | $3,585,114 | | **Liabilities** | | | | Total deposits | $23,878,978 | $22,856,880 | | Non-interest bearing deposits | $9,352,883 | $9,618,081 | | Interest bearing deposits | $14,526,095 | $13,238,799 | | Total liabilities | $26,550,549 | $25,359,291 | | **Stockholders' Equity** | | | | Total stockholders' equity | $3,077,700 | $3,055,351 | - Total assets increased by **$1.21 billion (4.27%)** from December 31, 2022, to September 30, 2023, driven by growth in loans held for investment and investment securities[7](index=7&type=chunk) - Total deposits increased by **$1.02 billion (4.47%)** from December 31, 2022, to September 30, 2023, with interest-bearing deposits increasing and non-interest-bearing deposits decreasing[7](index=7&type=chunk) [Consolidated Statements of Income and Other Comprehensive Income/(Loss)](index=4&type=section&id=Consolidated%20Statements%20of%20Income%20and%20Other%20Comprehensive%20Income%2F%28Loss%29) This chapter presents the Company's financial performance, detailing revenues, expenses, and net income for the periods ended September 30, 2023 Consolidated Statements of Income Highlights (in thousands, except per share data) | Metric | 3 Months Ended Sep 30, 2023 | 3 Months Ended Sep 30, 2022 | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Total interest income | $425,769 | $322,072 | $1,212,851 | $772,952 | | Total interest expense | $193,698 | $82,991 | $513,445 | $144,792 | | Net interest income | $232,071 | $239,081 | $699,406 | $628,160 | | Provision for credit losses | $18,000 | $12,000 | $53,000 | $32,000 | | Total non-interest income | $46,872 | $25,332 | $130,286 | $71,855 | | Total non-interest expense | $179,891 | $197,047 | $555,562 | $514,442 | | Net income | $61,679 | $41,418 | $168,991 | $115,227 | | Net income available to common stockholders | $57,366 | $37,105 | $156,053 | $102,289 | | Basic earnings per common share | $1.19 | $0.74 | $3.24 | $2.03 | | Diluted earnings per common share | $1.18 | $0.74 | $3.20 | $2.00 | - Net income for the three months ended September 30, 2023, increased by **$20.26 million (48.9%)** YoY, primarily due to higher non-interest income and lower non-interest expense, despite a decrease in net interest income[9](index=9&type=chunk) - For the nine months ended September 30, 2023, net income increased by **$53.76 million (46.6%)** YoY, driven by increases in net interest income and non-interest income, partially offset by higher provision for credit losses and non-interest expense[9](index=9&type=chunk) [Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) This chapter outlines changes in the Company's equity, including retained earnings, treasury stock, and comprehensive income Stockholders' Equity Changes (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :----------------------------------- | :----------- | :----------- | | Total stockholders' equity | $3,077,700 | $3,055,351 | | Retained earnings | $2,419,555 | $2,263,502 | | Treasury stock (shares) | (3,095,444) | (2,083,535) | | Treasury stock (amount) | $(175,528) | $(115,310) | | Accumulated other comprehensive loss, net of taxes | $(505,912) | $(418,943) | - Total stockholders' equity increased by **$22.35 million** from December 31, 2022, to September 30, 2023, primarily due to net income, partially offset by an increase in treasury stock and accumulated other comprehensive loss[7](index=7&type=chunk)[11](index=11&type=chunk)[12](index=12&type=chunk) - The Company repurchased **1,011,909 shares** of common stock for **$60.2 million** during the nine months ended September 30, 2023[12](index=12&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This chapter details the Company's cash flows from operating, investing, and financing activities for the periods presented Consolidated Cash Flow Highlights (in thousands) | Activity | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | | Net cash provided by operating activities | $186,073 | $214,100 | | Net cash used in investing activities | $(2,073,892) | $(341,189) | | Net cash provided by/(used in) financing activities | $1,068,335 | $(4,179,323) | | Net decrease in cash and cash equivalents | $(819,484) | $(4,306,412) | | Cash and cash equivalents at end of period | $4,192,776 | $3,640,247 | - Net cash provided by operating activities decreased by **$28.03 million** YoY for the nine months ended September 30, 2023[13](index=13&type=chunk) - Net cash used in investing activities significantly increased to **$(2.07) billion** in 2023 from **$(341.19) million** in 2022, primarily due to higher originations of loans held for investment and purchases of available-for-sale securities[13](index=13&type=chunk) - Financing activities shifted from a net cash outflow of **$(4.18) billion** in 2022 to a net cash inflow of **$1.07 billion** in 2023, mainly driven by a net increase in deposits[13](index=13&type=chunk) [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This chapter provides detailed explanations of the Company's accounting policies and specific financial statement line items [(1) Operations and Summary of Significant Accounting Policies](index=8&type=section&id=%281%29%20Operations%20and%20Summary%20of%20Significant%20Accounting%20Policies) This section details the Company's business operations and outlines its key accounting policies, including the CECL model - The Company updated its current expected credit loss (**CECL**) model in Q2 2023, incorporating more granular historical loss rates, probability of default, and loss severities, and adjusting portfolio segments and reversion speeds for forecasts[18](index=18&type=chunk)[19](index=19&type=chunk)[20](index=20&type=chunk) - The CECL methodology recognizes **lifetime expected credit losses** immediately upon asset origination or purchase, applying to financial assets at amortized cost and off-balance sheet credit exposures[22](index=22&type=chunk) - The loan portfolio is segregated into pools by segment and credit grade for collective allowance measurement, with individual evaluations for loans not sharing risk characteristics. A **two-year forecast period** is generally used, reverting to historical loss rates over 1-2 years for periods beyond reasonable forecasts[24](index=24&type=chunk)[25](index=25&type=chunk) [(2) Earnings Per Share](index=10&type=section&id=%282%29%20Earnings%20Per%20Share) This section provides a breakdown of basic and diluted earnings per common share for the reported periods Earnings Per Share (EPS) (in thousands except share and per share data) | Metric | 3 Months Ended Sep 30, 2023 | 3 Months Ended Sep 30, 2022 | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Net income available to common stockholders | $57,366 | $37,105 | $156,053 | $102,289 | | Basic earnings per common share | $1.19 | $0.74 | $3.24 | $2.03 | | Diluted earnings per common share | $1.18 | $0.74 | $3.20 | $2.00 | | Basic weighted average common shares | 48,007,466 | 49,891,727 | 48,168,486 | 50,506,364 | | Diluted weighted average common shares | 48,528,698 | 50,417,884 | 48,724,028 | 51,090,515 | - Diluted EPS increased significantly to **$1.18** for Q3 2023 from **$0.74** for Q3 2022, and to **$3.20** for the nine months ended September 30, 2023, from **$2.00** for the same period in 2022[36](index=36&type=chunk) [(3) Investment Securities](index=11&type=section&id=%283%29%20Investment%20Securities) This section details the Company's investment securities portfolio, including available-for-sale and held-to-maturity debt Investment Securities Summary (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :----------------------------------- | :----------- | :----------- | | Total available-for-sale debt securities (Fair Value) | $3,147,865 | $2,615,644 | | Total held-to-maturity debt securities (Amortized Cost) | $881,352 | $935,514 | | Total investment securities | $4,069,717 | $3,585,114 | | Total unrealized loss on AFS debt securities | $(478,209) | $(385,205) | | Total unrealized loss on HTM debt securities (Fair Value) | $(150,094) | $(118,600) | - Available-for-sale debt securities increased by **$532.2 million** from December 31, 2022, to September 30, 2023, while held-to-maturity debt securities decreased by **$54.16 million**[37](index=37&type=chunk) - Unrealized losses on available-for-sale debt securities increased by **$93.0 million**, primarily due to changes in market interest rates, not credit quality. The Company does not intend to sell these securities before recovery of amortized cost[37](index=37&type=chunk)[43](index=43&type=chunk) [(4) Loans and Allowance for Credit Losses on Loans](index=13&type=section&id=%284%29%20Loans%20and%20Allowance%20for%20Credit%20Losses%20on%20Loans) This section details the Company's loan portfolio by segment and the allowance for credit losses, including provision and charge-offs Loans Held for Investment by Portfolio Segment (in thousands) | Portfolio Segment | Sep 30, 2023 | Dec 31, 2022 | | :------------------------ | :----------- | :----------- | | Commercial | $10,365,650 | $9,832,676 | | Mortgage finance | $4,429,489 | $4,090,033 | | Commercial real estate | $5,358,770 | $4,875,363 | | Consumer | $537,229 | $552,848 | | Gross loans held for investment | $20,691,138 | $19,350,920 | | Allowance for credit losses on loans | $(244,902) | $(253,469) | | Total loans held for investment, net | $20,368,469 | $19,033,871 | - Gross loans held for investment increased by **$1.34 billion (6.9%)** from December 31, 2022, to September 30, 2023, with growth across all categories except consumer loans[48](index=48&type=chunk)[130](index=130&type=chunk) Allowance for Credit Losses on Loans (in thousands) | Metric | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | | Beginning balance | $253,469 | $211,866 | | Provision for credit losses on loans | $28,523 | $27,617 | | Net charge-offs | $37,090 | $4,870 | | Ending balance | $244,902 | $234,613 | - The provision for credit losses on loans increased slightly to **$28.5 million** for the nine months ended September 30, 2023, from **$27.6 million** in the prior year, driven by increases in criticized loans and total loans held for investment[52](index=52&type=chunk)[137](index=137&type=chunk) - Net charge-offs significantly increased to **$37.1 million** for the nine months ended September 30, 2023, compared to **$4.9 million** for the same period in 2022[52](index=52&type=chunk)[137](index=137&type=chunk) [(5) Short-Term Borrowings and Long-Term Debt](index=16&type=section&id=%285%29%20Short-Term%20Borrowings%20and%20Long-Term%20Debt) This section details the Company's short-term borrowings and long-term debt obligations as of the reporting dates Short-Term Borrowings (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :------------------------ | :----------- | :----------- | | Customer repurchase agreements | $0 | $1,142 | | Federal Home Loan Bank borrowings | $1,400,000 | $1,200,000 | | Total short-term borrowings | $1,400,000 | $1,201,142 | Long-Term Debt (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :------------------------ | :----------- | :----------- | | Bank-issued floating rate senior unsecured credit-linked notes due 2024 | $198,997 | $272,492 | | Bank-issued 5.25% fixed rate subordinated notes due 2026 | $174,392 | $174,196 | | Company-issued 4.00% fixed rate subordinated notes due 2031 | $371,676 | $371,348 | | Trust preferred floating rate subordinated debentures due 2032 to 2036 | $113,406 | $113,406 | | Total long-term debt | $858,471 | $931,442 | - Short-term borrowings increased by **$198.86 million** from December 31, 2022, to September 30, 2023, primarily due to an increase in FHLB borrowings[59](index=59&type=chunk) - Long-term debt decreased by **$72.97 million**, mainly due to a partial paydown of **$75.0 million** of senior unsecured credit-linked notes in Q2 2023[60](index=60&type=chunk) [(6) Financial Instruments with Off-Balance Sheet Risk](index=17&type=section&id=%286%29%20Financial%20Instruments%20with%20Off-Balance%20Sheet%20Risk) This section discusses the Company's off-balance sheet financial instruments and related credit loss allowances Off-Balance Sheet Credit Losses (in thousands) | Metric | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | | Beginning balance | $21,793 | $17,265 | | Provision for off-balance sheet credit losses | $24,477 | $4,383 | | Ending balance | $46,270 | $21,648 | - The allowance for off-balance sheet credit losses significantly increased to **$46.27 million** at September 30, 2023, from **$21.79 million** at the beginning of the period, primarily due to a higher allocation of losses to off-balance sheet financial instruments following changes in the **CECL model**[61](index=61&type=chunk)[62](index=62&type=chunk) Off-Balance Sheet Commitments (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :----------------------------------- | :----------- | :----------- | | Commitments to extend credit | $9,704,070 | $9,673,082 | | Standby letters of credit | $515,651 | $417,896 | [(7) Regulatory Ratios and Capital](index=17&type=section&id=%287%29%20Regulatory%20Ratios%20and%20Capital) This section presents the Company's regulatory capital ratios and compliance with 'well capitalized' requirements Regulatory Capital Ratios (Company) (as of Sep 30, 2023) | Capital Ratio | Actual Ratio | Minimum Required Ratio | Capital Required to be Well Capitalized | | :----------------------------------- | :----------- | :--------------------- | :------------------------------------ | | CET1 | 12.70 % | 7.00 % | N/A | | Total capital (to risk-weighted assets) | 17.09 % | 10.50 % | 10.00 % | | Tier 1 capital (to risk-weighted assets) | 14.28 % | 8.50 % | 6.00 % | | Tier 1 capital (to average assets) | 12.14 % | 4.00 % | N/A | - The Company and the Bank exceeded all **'well capitalized'** regulatory capital requirements as of September 30, 2023, with CET1 and total capital ratios of **12.70%** and **17.09%** respectively for the Company[68](index=68&type=chunk)[69](index=69&type=chunk)[73](index=73&type=chunk) - The Company utilizes the **five-year transition option** for the **CECL** accounting standard's effect on regulatory capital[67](index=67&type=chunk) - During the nine months ended September 30, 2023, the Company repurchased **1,011,909 shares** of common stock for **$59.7 million** under a new **$150.0 million** share repurchase program authorized in January 2023[65](index=65&type=chunk)[66](index=66&type=chunk) [(8) Stock-Based Compensation](index=19&type=section&id=%288%29%20Stock-Based%20Compensation) This section details the Company's stock-based compensation expense and unrecognized compensation related to awards Stock-Based Compensation Expense (in thousands) | Metric | 3 Months Ended Sep 30, 2023 | 3 Months Ended Sep 30, 2022 | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | RSUs | $4,441 | $5,376 | $17,948 | $15,805 | | Cash-settled units | $0 | $3 | $0 | $186 | | Total | $4,441 | $5,379 | $17,948 | $15,991 | - Total stock-based compensation expense for the nine months ended September 30, 2023, increased to **$17.95 million** from **$15.99 million** in the prior year, primarily from RSUs[77](index=77&type=chunk) - Unrecognized compensation expense related to unvested stock-settled awards was **$33.77 million** at September 30, 2023, with a weighted average recognition period of **2.1 years**[78](index=78&type=chunk) [(9) Fair Value Disclosures](index=20&type=section&id=%289%29%20Fair%20Value%20Disclosures) This section provides fair value measurements for assets and liabilities, categorized by valuation input levels Assets and Liabilities Measured at Fair Value (in thousands) - Sep 30, 2023 | Item | Level 1 | Level 2 | Level 3 | | :----------------------------------- | :-------- | :-------- | :-------- | | Available-for-sale debt securities | $623,448 | $2,512,326 | $12,091 | | Equity securities | $29,689 | $10,811 | $0 | | Mortgage loans held for sale | $0 | $706 | $0 | | Loans held for investment | $0 | $0 | $32,847 | | Derivative assets | $0 | $12,347 | $0 | | Securities sold not yet purchased | $9,532 | $0 | $0 | | Derivative liabilities | $0 | $119,481 | $0 | | Non-qualified deferred compensation plan liabilities | $18,488 | $0 | $0 | - At September 30, 2023, **$32.8 million** of loans held for investment were measured at fair value on a nonrecurring basis, based on collateral valuations utilizing **Level 3 inputs**[88](index=88&type=chunk) - The fair value of CRT securities, a **Level 3 valuation**, was **$12.09 million** at September 30, 2023, determined using a discounted cash flow model with discount rates ranging from **6.89% to 10.61%** and weighted-average life from **5.14 to 7.92 years**[87](index=87&type=chunk) [(10) Derivative Financial Instruments](index=23&type=section&id=%2810%29%20Derivative%20Financial%20Instruments) This section details the Company's derivative positions, including notional amounts and fair values, and their impact Derivative Positions (in thousands) | Metric | Sep 30, 2023 Notional Amount | Sep 30, 2023 Estimated Fair Value (Asset) | Sep 30, 2023 Estimated Fair Value (Liability) | | :----------------------------------- | :-------------------------- | :--------------------------------------- | :---------------------------------------- | | Swaps hedging loans | $3,100,000 | $0 | $111,760 | | Customer-initiated and other derivatives (total) | $19,522,344 | $137,333 | $248,285 | | Net derivatives included on consolidated balance sheets | N/A | $12,347 | $119,481 | - The Company's credit exposure on derivative instruments, net of collateral, was approximately **$12.3 million** at September 30, 2023[92](index=92&type=chunk) - During the nine months ended September 30, 2023, the Company recorded **$66.1 million** in unrealized losses to adjust cash flow hedges to fair value (net of tax to AOCI) and reclassified **$43.4 million** from AOCI as a decrease to interest income on loans[95](index=95&type=chunk) [(11) Accumulated Other Comprehensive Income](index=24&type=section&id=%2811%29%20Accumulated%20Other%20Comprehensive%20Income) This section outlines changes in accumulated other comprehensive income (AOCI) by component, including cash flow hedges and securities Change in AOCI by Component (in thousands) - 9 Months Ended Sep 30, 2023 | Component | Beginning Balance | Change in Unrealized Gain/(Loss) | Amounts Reclassified into Net Income | Ending Balance | | :----------------------------------- | :---------------- | :------------------------------- | :--------------------------------- | :------------- | | Cash Flow Hedges | $(66,394) | $(66,101) | $43,426 | $(84,308) | | Available-for-Sale Securities | $(304,309) | $(93,007) | $0 | $(377,784) | | Held-to-Maturity Securities | $(48,240) | $0 | $5,594 | $(43,820) | | Total AOCI (net of tax) | $(418,943) | $(159,108) | $49,020 | $(505,912) | - Total accumulated other comprehensive loss (AOCI) increased to **$(505.9) million** at September 30, 2023, from **$(418.9) million** at the beginning of the nine-month period, primarily due to changes in unrealized losses on available-for-sale securities and cash flow hedges[96](index=96&type=chunk) [(12) New Accounting Standards](index=24&type=section&id=%2812%29%20New%20Accounting%20Standards) This section discusses recently issued accounting standards and their anticipated impact on the Company's financials - **ASU 2023-05**, effective **January 1, 2025**, requires certain joint ventures to apply a new basis of accounting upon formation, recognizing and initially measuring most assets and liabilities at fair value. This is not expected to impact the Company's financial statements[97](index=97&type=chunk) [ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's analysis of financial condition and results of operations for the nine months ended September 30, 2023 [Overview](index=25&type=section&id=Overview) This chapter provides a high-level summary of the Company's financial performance, liquidity, and capital position - Despite significant banking industry volatility and high-profile bank failures in the first nine months of 2023, the Company maintained a **robust liquidity position** and **strong capital levels**[102](index=102&type=chunk) - The Company's CET1 and total capital ratios were **12.7%** and **17.1%**, respectively, as of September 30, 2023, exceeding regulatory requirements[102](index=102&type=chunk) - Total deposits increased by **4%** to **$23.9 billion** at September 30, 2023, compared to December 31, 2022[102](index=102&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) This chapter analyzes the Company's key financial performance indicators, including net income, ROA, and ROE Key Performance Indicators | Metric | 3 Months Ended Sep 30, 2023 | 3 Months Ended Sep 30, 2022 | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Net interest margin | 3.13 % | 3.05 % | 3.25 % | 2.64 % | | Return on average assets ("ROA") | 0.81 % | 0.52 % | 0.77 % | 0.47 % | | Return on average common equity ("ROE") | 8.08 % | 5.36 % | 7.46 % | 4.90 % | | Efficiency ratio | 64.5 % | 74.5 % | 67.0 % | 73.5 % | - Net income available to common stockholders increased to **$57.4 million** for Q3 2023 (from **$37.1 million** in Q3 2022) and to **$156.1 million** for the nine months ended September 30, 2023 (from **$102.3 million** in the prior year)[104](index=104&type=chunk)[105](index=105&type=chunk) - ROE improved to **8.08%** for Q3 2023 (from **5.36%** in Q3 2022) and to **7.46%** for the nine months ended September 30, 2023 (from **4.90%** in the prior year)[104](index=104&type=chunk)[105](index=105&type=chunk) [Net Interest Income](index=29&type=section&id=Net%20Interest%20Income) This chapter analyzes the Company's net interest income and net interest margin, detailing the impact of interest rates Net Interest Income and Margin | Metric | 3 Months Ended Sep 30, 2023 | 3 Months Ended Sep 30, 2022 | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Net interest income | $232.1 million | $239.1 million | $699.4 million | $628.2 million | | Net interest margin | 3.13 % | 3.05 % | 3.25 % | 2.64 % | | Yield on total loans held for investment | 6.58 % | 4.91 % | 6.53 % | 4.15 % | | Total cost of deposits | 2.62 % | 0.93 % | 2.36 % | 0.48 % | - Net interest income decreased by **$7.0 million** YoY for Q3 2023, primarily due to increased funding costs and decreased average earning assets, partially offset by higher yields on earning assets[117](index=117&type=chunk) - Net interest income increased by **$71.2 million** YoY for the nine months ended September 30, 2023, driven by higher yields on average earning assets, despite rising funding costs and decreased average earning assets[121](index=121&type=chunk) - Net interest margin improved to **3.13%** for Q3 2023 (from **3.05%** in Q3 2022) and to **3.25%** for the nine months ended September 30, 2023 (from **2.64%** in the prior year), reflecting the impact of rising interest rates on asset yields[119](index=119&type=chunk)[123](index=123&type=chunk) [Non-interest Income](index=30&type=section&id=Non-interest%20Income) This chapter examines the Company's non-interest income sources, including investment banking and trading income Non-interest Income (in thousands) | Metric | 3 Months Ended Sep 30, 2023 | 3 Months Ended Sep 30, 2022 | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Total non-interest income | $46,872 | $25,332 | $130,286 | $71,855 | | Investment banking and trading income | $29,191 | $7,812 | $75,457 | $23,117 | - Non-interest income increased by **$21.5 million** YoY for Q3 2023 and by **$58.4 million** YoY for the nine months ended September 30, 2023, primarily driven by a significant increase in investment banking and trading income[125](index=125&type=chunk) [Non-interest Expense](index=30&type=section&id=Non-interest%20Expense) This chapter analyzes the Company's non-interest expenses, including salaries, benefits, and technology costs Non-interest Expense (in thousands) | Metric | 3 Months Ended Sep 30, 2023 | 3 Months Ended Sep 30, 2022 | 9 Months Ended Sep 30, 2023 | 9 Months Ended Sep 30, 2022 | | :----------------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | :-------------------------- | | Total non-interest expense | $179,891 | $197,047 | $555,562 | $514,442 | | Salaries and benefits | $110,010 | $128,764 | $351,730 | $331,981 | | Marketing | $4,757 | $8,282 | $20,168 | $21,765 | | Communications and technology | $19,607 | $18,470 | $57,655 | $48,819 | | FDIC insurance assessment | $5,769 | $3,953 | $11,632 | $11,252 | - Non-interest expense decreased by **$17.2 million** YoY for Q3 2023, mainly due to lower salaries and benefits (partially from a **$13.7 million** expense in Q3 2022 related to a subsidiary sale) and marketing expenses[126](index=126&type=chunk) - Non-interest expense increased by **$41.1 million** YoY for the nine months ended September 30, 2023, primarily due to higher salaries and benefits, legal and professional, and communications and technology expenses[127](index=127&type=chunk) [Analysis of Financial Condition](index=31&type=section&id=Analysis%20of%20Financial%20Condition) This chapter provides an in-depth analysis of the Company's financial condition, focusing on loans, non-performing assets, and credit loss experience [Loans Held for Investment](index=31&type=section&id=Loans%20Held%20for%20Investment) This section details the Company's loan portfolio by segment, highlighting growth and composition Gross Loans Held for Investment (in thousands) | Portfolio Segment | Sep 30, 2023 | Dec 31, 2022 | | :------------------------ | :----------- | :----------- | | Commercial | $10,365,650 | $9,832,676 | | Mortgage finance | $4,429,489 | $4,090,033 | | Commercial real estate | $5,358,770 | $4,875,363 | | Consumer | $537,229 | $552,848 | | Total gross loans held for investment | $20,691,138 | $19,350,920 | - Total loans held for investment increased by **$1.3 billion (6.9%)** from December 31, 2022, to September 30, 2023, reflecting broad-based growth across commercial, mortgage finance, and commercial real estate categories[130](index=130&type=chunk) - Mortgage finance loans, typically sold within **10-20 days**, constituted **21%** of total loans held for investment at both periods[130](index=130&type=chunk) [Portfolio Concentrations](index=31&type=section&id=Portfolio%20Concentrations) This section discusses the geographic and business concentrations within the Company's loan portfolio - A majority of the Company's loans held for investment (excluding mortgage finance and other national lines of business) are to businesses headquartered or operating in Texas, indicating **significant geographic concentration risk**[132](index=132&type=chunk) - Over **50%** of the Company's total loan exposure and deposits are outside of Texas, diversifying some of the geographic risk[132](index=132&type=chunk) [Non-performing Assets](index=32&type=section&id=Non-performing%20Assets) This section reports on the Company's non-performing assets, including non-accrual loans and their ratios Non-performing Assets (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :----------------------------------- | :----------- | :----------- | | Total non-accrual loans held for investment | $63,129 | $48,338 | | Non-accrual loans held for investment to total loans held for investment | 0.31 % | 0.25 % | | Total non-performing assets to total assets | 0.21 % | 0.17 % | - Total non-performing assets increased to **$63.1 million** at September 30, 2023, from **$48.3 million** at December 31, 2022, primarily due to an increase in non-accrual commercial loans[135](index=135&type=chunk) - The ratio of allowance for credit losses on loans to non-accrual loans held for investment decreased to **3.9x** at September 30, 2023, from **5.2x** at December 31, 2022[135](index=135&type=chunk) [Summary of Credit Loss Experience](index=32&type=section&id=Summary%20of%20Credit%20Loss%20Experience) This section summarizes the Company's credit loss experience, including allowance for credit losses and net charge-offs Credit Loss Experience Metrics | Metric | Sep 30, 2023 | Sep 30, 2022 | | :----------------------------------- | :----------- | :----------- | | Allowance for credit losses on loans to total loans held for investment | 1.19 % | 1.19 % | | Total allowance for credit losses to total loans held for investment | 1.41 % | 1.30 % | | Total provision for credit losses to average total loans held for investment | 0.35 % | 0.19 % | - The total provision for credit losses (loans and off-balance sheet) increased to **$53.0 million** for the nine months ended September 30, 2023, from **$32.0 million** in the prior year[9](index=9&type=chunk) Net Charge-offs to Average Loans by Segment (9 Months Ended Sep 30) | Portfolio Segment | 2023 Net Charge-offs | 2023 Net Charge-offs to Average Loans | 2022 Net Charge-offs | 2022 Net Charge-offs to Average Loans | | :------------------------ | :------------------- | :------------------------------------ | :------------------- | :------------------------------------ | | Commercial | $37,054 | 0.48 % | $4,541 | 0.05 % | | Total | $37,090 | 0.25 % | $4,870 | 0.03 % | [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) This chapter discusses the Company's liquidity position, funding sources, borrowing capacity, and capital levels - The Company's primary funding source is **customer deposits**, supplemented by short-term borrowings (federal funds, FHLB advances) and long-term debt[141](index=141&type=chunk) Liquidity Metrics (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :----------------------------------- | :----------- | :----------- | | Interest bearing cash and cash equivalents | $3,975,860 | $4,778,623 | | Interest bearing cash and cash equivalents as a percent of total deposits | 16.7 % | 20.9 % | | Customer deposits | $22,485,141 | $21,247,999 | | Brokered deposits | $1,393,837 | $1,608,881 | | Estimated uninsured deposits as a percent of total deposits | 40 % | N/A | Short-Term Borrowing Capacity (in thousands) | Metric | Sep 30, 2023 | Dec 31, 2022 | | :----------------------------------- | :----------- | :----------- | | Total FHLB borrowing capacity | $6,937,371 | $6,160,515 | | Unused federal funds lines available from commercial banks | $1,388,000 | $1,479,000 | | Unused Federal Reserve borrowings capacity | $3,052,148 | $3,574,762 | | Unused revolving line of credit | $100,000 | $75,000 | - The Company's equity capital averaged **$3.1 billion** for the nine months ended September 30, 2023, consistent with the prior year[149](index=149&type=chunk) [Critical Accounting Estimates](index=35&type=section&id=Critical%20Accounting%20Estimates) This chapter highlights the Company's critical accounting estimates, particularly the allowance for credit losses (ACL) - Management considers the **allowance for credit losses (ACL)** as the most critical accounting estimate, involving significant judgment and uncertainty[154](index=154&type=chunk) - The ACL is determined using a **CECL model**, segregating the loan portfolio into pools by segment and credit grade, and incorporating historical loss rates, probability of default, loss severities, and reasonable and supportable forecasts[154](index=154&type=chunk) - Under the most severe downside macroeconomic scenario considered, the quantitative estimate of the allowance for credit loss would increase by approximately **$183.7 million**[155](index=155&type=chunk) [ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section details the Company's market risk exposure, primarily interest rate risk, and its management through derivatives and LIBOR transition [Interest Rate Risk Management](index=36&type=section&id=Interest%20Rate%20Risk%20Management) This chapter describes how the Company identifies, measures, and manages its exposure to interest rate fluctuations - The Company is primarily exposed to market risk through changes in **interest rates** affecting its non-trading assets and interest rate derivative instruments[158](index=158&type=chunk) - Management uses a sensitivity analysis and a dynamic simulation model to quantify interest rate risk exposure on net interest income over the next **twelve months** under various 'shock test' scenarios (e.g., immediate **100 and 200 basis point** increases/decreases)[163](index=163&type=chunk)[165](index=165&type=chunk) Anticipated Impact on Net Interest Income (in thousands) - Next 12 Months | Scenario | Sep 30, 2023 Impact | Sep 30, 2022 Impact | | :----------------------------------- | :------------------ | :------------------ | | 100 bps Increase | $58,451 | $76,688 | | 200 bps Increase | $29,296 | $134,859 | | 100 bps Decrease | $(41,562) | $(103,564) | | 200 bps Decrease | $(83,055) | N/A | [Use of Derivatives to Manage Interest Rate and Other Risks](index=37&type=section&id=Use%20of%20Derivatives%20to%20Manage%20Interest%20Rate%20and%20Other%20Risks) This chapter explains the Company's use of derivative instruments for hedging and managing various financial risks - The Company uses derivative transactions to manage **interest rate, prepayment, credit, price, and foreign currency risks** (asset and liability management positions) and to support customer business requirements (customer-related positions)[167](index=167&type=chunk)[169](index=169&type=chunk) - Derivative contracts are designated as **fair value hedges, cash flow hedges, net investment hedges**, or non-hedging derivatives depending on their purpose[168](index=168&type=chunk) [LIBOR Transition](index=37&type=section&id=LIBOR%20Transition) This chapter describes the Company's progress in transitioning financial instruments from LIBOR to alternative benchmark rates - The Company has transitioned substantially all financial instruments from **LIBOR** to an alternative benchmark rate, primarily **SOFR**, by **September 30, 2023**, following regulatory guidance and the Adjustable Interest Rate (LIBOR) Act[171](index=171&type=chunk)[172](index=172&type=chunk) [ITEM 4. CONTROLS AND PROCEDURES](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) This section confirms the effectiveness of disclosure controls and procedures and reports no material changes in internal control - The Company's management, with CEO and CFO supervision, concluded that disclosure controls and procedures were **effective** as of September 30, 2023[174](index=174&type=chunk) - There were **no material changes** in the Company's internal control over financial reporting during the period covered by the report[175](index=175&type=chunk) PART II - OTHER INFORMATION This section provides additional information, including legal proceedings, risk factors, and equity security sales [ITEM 1. LEGAL PROCEEDINGS](index=40&type=section&id=Item%201.%20Legal%20Proceedings) This section details the Company's involvement in legal proceedings and management's assessment of their financial impact - Management does not expect current legal proceedings to have a **material adverse impact** on the Company's financial statements or results of operations[177](index=177&type=chunk) [ITEM 1A. RISK FACTORS](index=40&type=section&id=Item%201A.%20Risk%20Factors) This section confirms no material changes to the risk factors previously disclosed in the Company's prior filings - No **material changes** to risk factors were reported since the previous filings[178](index=178&type=chunk) [ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the Company's common stock repurchase activities, including program completion and new authorizations Common Stock Repurchases (9 Months Ended Sep 30, 2023) | Month | Total Number of Shares Purchased | Average Price Paid per Share | | :------------------------ | :------------------------------- | :--------------------------- | | January 2023 | 564,206 | $61.50 | | March 2023 | 447,703 | $55.80 | | Total | 1,011,909 | $58.98 | - The Company completed its **$150.0 million** share repurchase program authorized in April 2022 during January 2023[179](index=179&type=chunk) - A new **$150.0 million** share repurchase program was authorized on January 18, 2023, under which **1,011,909 shares** were repurchased for **$59.7 million** during the nine months ended September 30, 2023[179](index=179&type=chunk)[150](index=150&type=chunk) [ITEM 6. EXHIBITS](index=41&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications and XBRL taxonomy documents - The report includes **certifications** from the Chief Executive Officer and Chief Financial Officer as required by the Exchange Act[182](index=182&type=chunk) - **XBRL** (eXtensible Business Reporting Language) documents are filed, providing structured data for financial reporting[182](index=182&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended June 30, 2023 ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the transition period from to Commission file number 001-34657 TEXAS CAPITAL BANCSHARES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 75-2679109 (State or other jurisdiction ...

Financial Data and Key Metrics Changes - The company reported a net income to common of $64.3 million for the quarter, up $34.5 million year-over-year, with earnings per share increasing by $0.74, marking the highest level in two years adjusted for divestiture [58] - Quarterly PPNR grew 43% year-over-year to $96.4 million, the highest since the transformation began in Q1 2021 [58] - Total revenue increased by $46.2 million or 20% compared to Q2 2022, benefiting from a 76% increase in noninterest income [85] Business Line Data and Key Metrics Changes - Investment banking and trading income reached a record $27.5 million, up $8.7 million or 47% quarter-over-quarter, marking the third consecutive record quarter since launching the investment banking business [53][84] - Wealth management income increased 8% quarter-over-quarter, with assets under management growing 6% [42] - Gross payment revenues increased by 12% year-over-year, indicating a successful multiyear focus on proprietary applications [36] Market Data and Key Metrics Changes - Deposit balances increased by 5% or $1.1 billion in the quarter, with the loan-to-deposit ratio remaining flat at 91% [44] - Noninterest-bearing deposits decreased by 19%, reflecting a shift to interest-bearing deposits [64] - The company experienced a 10% increase in criticized loans, primarily due to special mention real estate loans [95] Company Strategy and Development Direction - The company is focused on a multi-quarter business model transformation aimed at reducing dependence on rate-driven earnings and enhancing revenue stability [13] - Continued investment in the investment banking platform is expected to contribute at least 10% of total revenue by 2025 [53] - The firm aims to maintain a strong liquidity position, targeting a CET1 ratio of at least 12% by year-end [99] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing transformation and the ability to meet long-term targets despite changing market conditions [74] - The company anticipates manageable real estate migration and believes its client selection and underwriting guidelines provide adequate protection against realized loss [68] - Management noted that while loan growth was lower this quarter, new client acquisition increased by over 30% compared to the prior quarter [139] Other Important Information - The company has made significant investments over the last two years, resulting in expected operating and financial efficiencies [71] - The firm has successfully launched the Texas Capital Texas Equity ETF, marking a significant expansion of its asset management capabilities [131] - The company reported a tangible book value per share of $57.93, a near all-time high, reflecting a 7% year-over-year increase [55] Q&A Session Summary Question: What is the outlook for investment banking and trading? - Management indicated that the investment banking pipeline is broad and diverse, with expectations for continued solid performance in the third and fourth quarters [119] Question: Can you provide an update on staffing expectations? - Management noted a 6% decline in noninterest expenses quarter-over-quarter, with high-quality staffing now in place and stability achieved [103][104] Question: What are the expectations for loan growth? - Management clarified that loan growth is not the primary focus, emphasizing the importance of recycling capital and meeting client needs through various solutions [138]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the quarterly period ended March 31, 2023 ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the transition period from to Commission file number 001-34657 TEXAS CAPITAL BANCSHARES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 75-2679109 (State or other jurisdiction ...

Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Q1 2023 Earnings Conference Call March 20, 2023 9:00 AM ET Company Participants Jocelyn Kukulka - Head of Investor Relations Rob Holmes - President and Chief Executive Officer Matt Scurlock - Chief Financial Officer Conference Call Participants Michael Rose - Raymond James Brett Rabatin - Hovde Group Brody Preston - UBS Matthew Olney - Stephens Inc. Brad Milsaps - Piper Sandler Brady Gailey - Keefe Bruyette & Woods Inc. Brandon King - Truist Securities Operator H ...