Texas Capital Q3 EPS $0.76, down 41% linked quarter; $12M software write-off

TEXAS CAPITAL BANCSHARES INC/TX

2021-Q3 EPS reported $3.41

Net income $43.4M ($0.76 diluted EPS) vs $73.5M ($1.31) in Q2 2021, down 41% linked quarter.
Recorded $12.0M write-off of software assets to reposition technology investment for long-term strategy.
Provision for credit losses of $5.0M vs negative provision $19.0M in Q2; criticized loans improved to $728.9M from $891.6M.
Net interest margin 2.15%, up 5 bps; total deposits up 3% linked quarter; demand deposits up 5%.
Non-interest income fell 30% linked quarter due to sale of MSR portfolio and transition of mortgage program.

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