Texas Capital Bancshares Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Reports Net Charges Offs for the Fourth Quarter Ended December 31, 2011
January 25, 2012 at 04:02 pm
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Texas Capital BancShares Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the fourth quarter of 2011, the company earned $25.7 million compared to $12.1 million for the same period in 2010. Diluted earnings per share were $0.67 compared to $0.32 for the same period in 2010. Return on average equity was 17.05% and return on average assets was 1.28% compared to 9.04% and 0.72% respectively for the fourth quarter of 2010. Net interest income was $88.1 million compared to $66.0 million for the fourth quarter of 2010. Total interest income was $92.967 million against $75.432 million a year ago. Income from continuing operations before income taxes was $40.788 million against $18.551 million a year ago. Income from continuing operations was $25.745 million against $12.076 million a year ago. Diluted earnings per share from continuing operations were $0.67 compared to $0.32 for the same period in 2010.
For the year, the company reported net income from continuing operations of $76.1 million compared to $37.3 million in 2010. On a fully diluted basis, earnings per common share from continuing operations were $1.99 compared to $1.00 for 2010. Return on average equity was 13.39% and return on average assets was 1.12% compared to 7.23% and 0.63% respectively for 2010. Total Interest income was $314.753 million against $270.003 million a year ago. Income from continuing operations before income taxes was $118.468 million against $56.949 million a year ago. Income from continuing operations was $75.976 million or $1.98 per diluted share against $37.187 million or $1.00 per diluted share a year ago.
In the fourth quarter of 2011, net charge-offs were $3.4 million, compared to net charge-offs of $17.0 million in the fourth quarter of 2010 and net charge-offs of $6.3 million in the third quarter of 2011.
Texas Capital Bancshares, Inc. is a bank holding company. The Company, through its subsidiary Texas Capital Bank (the Bank), provides a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The Bank offers a full range of products and services, including commercial loans for general corporate purposes, including financing for working capital, organic growth, and acquisitions; real estate term and construction loans; mortgage warehouse lending; treasury management services, including online banking and debit and credit card services; investment banking and advisory services, and letters of credit. It also provides banking services for its individual customers, including personal wealth management and trust services; certificates of deposit; interest and non-interest bearing checking accounts; savings accounts; secured and unsecured loans; online and mobile banking, and investment banking, and advisory services.
Texas Capital Bancshares Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Reports Net Charges Offs for the Fourth Quarter Ended December 31, 2011