Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced earnings and operating results for the third quarter of 2008.
- Net income of $7.6 million, a decrease of 14%
- EPS of $0.27, a decrease of 18% for the quarter
- Loans held for investment grew 17%
- Total deposits grew 3%
"We are pleased with our results for the third quarter of 2008, especially in light of difficult market conditions," said George Jones, President and CEO. "They are consistent with the disclosures made in early September during our capital raise. With that additional capital, we are well-positioned to take advantage of the opportunities to extend the reach of Texas Capital in our markets with the addition of quality people and relationships."
FINANCIAL SUMMARY (dollars and shares in thousands) |
| | | | | | |
| | Q3 2008 | | Q3 2007 | | % Change |
| QUARTERLY OPERATING RESULTS | | | | | | |
| Net Income(1) | | $ | 7,565 | | | $ | 8,844 | | | (14 | )% |
| Diluted EPS(1) | | $ | .27 | | | $ | .33 | | | (18 | )% |
| ROA(1) | | | .65 | % | | | .88 | % | | |
| ROE(1) | | | 9.12 | % | | | 12.73 | % | | |
| Diluted Shares | | | 27,793 | | | | 26,767 | | | |
| | | | | | |
| BALANCE SHEET | | | | | | |
| Total Assets(1) | | $ | 4,742,043 | | |