8-K
filed April 20, 2023, 7:59 PM ET
ticker TCBI
CIK 0001077428
earnings
confidence high
sentiment neutral
materiality 0.75
Texas Capital Q1 net income $38.7M, EPS $0.70; net interest margin 3.33%; board changes
TEXAS CAPITAL BANCSHARES INC/TX
2023-Q1 EPS reported
$0.70
- Q1 net income available to common $34.3M ($0.70 diluted EPS) vs $35.3M ($0.69) in Q1 2022.
- Net interest income $235.3M, up from $183.5M YoY; net interest margin 3.33%, up 110 bps.
- Total deposits $22.2B, down 3% from Q4 2022; non-interest bearing deposits declined to $9.5B.
- Provision for credit losses $28.0M vs negative $2.0M in Q1 2022; net charge-offs $19.9M vs net recoveries $0.5M.
- Board changes: Larry Helm retired; Robert Stallings named Chairman; Laura Whitley elected to board.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
TEXAS CAPITAL BANCSHARES INC/TX reported first quarter 2023 results: net income $34.3 million, EPS $0.70 per diluted share.
- Period
- first quarter 2023
- Net income
- $34.3 million
- EPS
- $0.70 per diluted share
- Result
- reported results
Exact text from the filing
First quarter 2023 net income of $38.7 million and net income available to common stockholders of $34.3 million, or $0.70 per diluted share
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Laura L. Whitley was elected as Director at TEXAS CAPITAL BANCSHARES INC/TX.
- Action
- elected
- Role
- Director
Exact text from the filing
elected Laura L. Whitley as a new member of the Board
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Larry L. Helm retired as Director at TEXAS CAPITAL BANCSHARES INC/TX.
- Action
- retired
- Role
- Director
Exact text from the filing
Larry L. Helm retired from the Company’s board of directors effective April 18, 2023 pursuant to the Company’s director retirement guidelines.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert W. Stallings was appointed as Chairman of the Board at TEXAS CAPITAL BANCSHARES INC/TX.
- Action
- appointed
- Role
- Chairman of the Board
Exact text from the filing
the Board of Directors appointed Robert W. Stallings as Chairman of the Board
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
TEXAS CAPITAL BANCSHARES INC/TX shareholders approved Advisory approval of 2022 compensation of named executive officers at the 2023-04-18 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-04-18
Exact text from the filing
Proposal 3 - A Company proposal to approve, on an advisory basis, the 2022 compensation of the Company's named executive officers as disclosed in the Proxy Statement: Number of Shares Voted For Voted Against Abstentions Broker Non-Votes 29,393,884 14,367,778 33,333 2,365,191 The 2022 compensation of the Company’s named executive officers was approved on an advisory basis.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
TEXAS CAPITAL BANCSHARES INC/TX shareholders approved Advisory approval of frequency of say-on-pay vote at the 2023-04-18 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-04-18
Exact text from the filing
Proposal 4 - A Company proposal to approve, on an advisory basis, the frequency of the Company’s say on pay vote: Number of Shares 1 Year 2 Year 3 Year Abstentions Broker Non-Votes 40,395,401 6,579 3,366,890 26,125 2,365,191 The frequency of the Company’s say on pay vote was approved at 1 Year.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
TEXAS CAPITAL BANCSHARES INC/TX shareholders approved Ratification of appointment of Ernst & Young LLP as independent registered public accounting firm for year ending December 31, 2023 at the 2023-04-18 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-04-18
Exact text from the filing
Proposal 2 - A Company proposal to ratify the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the year ending December 31, 2023: Number of Shares Voted For Voted Against Abstentions Broker Non-Votes 45,541,138 602,384 16,664 — The appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the year ending December 31, 2023 was ratified.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
TEXAS CAPITAL BANCSHARES INC/TX shareholders approved Election of eleven directors at the 2023-04-18 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-04-18
Exact text from the filing
Proposal 1 - A Company proposal to elect eleven directors each to serve until the next annual meeting of stockholders or until their successors are elected and qualified: Number of Shares Nominee Voted For Votes Withheld Broker Non-Votes Paola M. Arbour 42,839,351 955,644 2,365,191 Jonathan E. Baliff 43,447,962 347,033 2,365,191 James H. Browning 42,188,410 1,606,585 2,365,191 Rob C. Holmes 43,068,230 726,765 2,365,191 David S. Huntley 42,355,453 1,433,201 2,371,532 Charles S. Hyle 43,453,447 341,548 2,365,191 Thomas E. Long 36,975,450 6,813,204 2,371,532 Elysia Holt Ragusa 37,040,341 6,748,313 2,371,532 Steven P. Rosenberg 41,749,511 2,039,143 2,371,532 Robert W. Stallings 41,229,320 2,565,675 2,365,191 Dale W. Tremblay 38,012,040 5,782,955 2,365,191 Each of the eleven director nominees was elected to serve until the next annual meeting of stockholders or until their successors are elected and qualified.
View on SEC.gov
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