Texas Capital Bancshares, Inc (TCBI) has reported 39.23 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $48.39 million, or $0.96 a share in the quarter, compared with $34.75 million, or $0.70 a share for the same period last year. Revenue during the quarter grew 29.78 percent to $181.06 million from $139.51 million in the previous year period. Net interest income for the quarter rose 20.42 percent over the prior year period to $171.22 million. Non-interest income for the quarter rose 66.39 percent over the last year period to $18.84 million.
Texas Capital Bancshares, Inc has made provision of $9 million for loan losses during the quarter, down 35.71 percent from $14 million in the same period last year.
Net interest margin improved 10 basis points to 3.11 percent in the quarter from 3.01 percent in the last year period. Efficiency ratio for the quarter improved to 56 percent from 56.70 percent in the previous year period. A decline in efficiency ratio indicates a rise in profitability.
“We are extremely pleased to finish 2016 with solid earnings and continued growth in loans, deposits and fee income. Our recent capital raise positions us to fully support potentially stronger growth by our clients in an environment that is expected to be more business-friendly," said Keith Cargill, CEO. "Continuing to attract and develop great talent and partnering with exceptional clients will drive future risk-appropriate assets and earnings growth, and solidify our outlook for a bright future as a leading organic-growth company."
Assets outpace liabilities growth
Total assets stood at $21,697.13 million as on Dec. 31, 2016, up 14.74 percent compared with $18,909.14 million on Dec. 31, 2015. On the other hand, total liabilities stood at $19,687.58 million as on Dec. 31, 2016, up 13.90 percent from $17,285.61 million on Dec. 31, 2015.
Loans outpace deposit growthNet loans stood at $17,330.22 million as on Dec. 31, 2016, up 4.58 percent compared with $16,570.84 million on Dec. 31, 2015. Deposits stood at $17,016.83 million as on Dec. 31, 2016, up 12.81 percent compared with $15,084.62 million on Dec. 31, 2015. Noninterest-bearing deposit liabilities were $7,994.20 million or 46.98 percent of total deposits on Dec. 31, 2016, compared with $6,386.91 million or 42.34 percent of total deposits on Dec. 31, 2015.
Investments stood at $24.87 million as on Dec. 31, 2016, down 17.06 percent or $5.12 million from year-ago. Shareholders equity stood at $2,009.56 million as on Dec. 31, 2016, up 23.78 percent or $386.02 million from year-ago.
Return on average assets moved up 13 basis points to 0.85 percent in the quarter from 0.72 percent in the last year period. At the same time, return on average equity increased 200 basis points to 10.82 percent in the quarter from 8.82 percent in the last year period.
Nonperforming assets moved up 3.71 percent or $6.69 million to $186.75 million on Dec. 31, 2016 from $180.07 million on Dec. 31, 2015. Meanwhile, nonperforming assets to total assets was 0.89 percent in the quarter, down from 0.99 percent in the last year period.
Book value per share was $37.56 for the quarter, up 16.94 percent or $5.44 compared to $32.12 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
