Texas Capital Q3 EPS $0.74 beats Q2 $0.59; appoints John Cummings as CAO

TEXAS CAPITAL BANCSHARES INC/TX

2022-Q3 EPS reported $2.00

Q3 net income available to common $37.1M ($0.74 diluted EPS) vs $29.8M ($0.59) last quarter and $39.1M ($0.76) a year ago.
Net interest income rose to $239.1M from $205.5M Q2; net interest margin expanded 37 bps to 3.05%.
Recorded $12M provision for credit losses, down from $22M in Q2; non-accrual LHI ratio improved to 0.18% from 0.21%.
John Cummings appointed Chief Administrative Officer effective Oct 18, 2022; base salary $500K, eligible for annual incentive and change-in-control severance.
Regulatory ratios all well-capitalized; CET1 ratio 11.1% vs 10.5% last quarter and 10.7% a year ago.

item 2.02 item 5.02 item 8.01 item 9.01

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Appointed

John Cummings

Chief Administrative Officer

TCBI · TEXAS CAPITAL BANCSHARES INC/TX

Effective: 2022-10-18
Filed: October 19, 2022, 7:59 PM ET

On October 18, 2022, the Board of Directors of the Company appointed John Cummings, age 62, to serve as Chief Administrative Officer of the Company

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

John Cummings was appointed as Chief Administrative Officer at TEXAS CAPITAL BANCSHARES INC/TX.

Action: appointed
Role: Chief Administrative Officer

Exact text from the filing

On October 18, 2022, the Board of Directors of the Company appointed John Cummings, age 62, to serve as Chief Administrative Officer of the Company

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Source: SEC EDGAR

accession 0001077428-22-000133

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