NASDAQ$TCBI

Texas Capital Bancshares Inc. · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Announced fourth quarter and full year 2022 results, with net income available to common stockholders of $212.9 million, or $4.23 per diluted share.

Texas Capital Bancshares, Inc. reported a strong fourth quarter and full year 2022, with net income available to common stockholders reaching $212.9 million, or $4.23 per diluted share. The company completed the sale of BankDirect Capital Finance, LLC, recognizing a significant pre-tax gain. Record level regulatory capital ratios were achieved, including 13.0% CET 1 and 17.7% Total Capital.

  • Net income available to common stockholders was $212.9 million, or $4.23 per diluted share.
  • The sale of BankDirect Capital Finance, LLC was completed, resulting in a $248.5 million pre-tax gain.
  • Regulatory capital ratios reached record levels, including 13.0% CET 1 and 17.7% Total Capital.
  • The company repurchased $65.3 million shares of common stock at tangible book value.

Headline financials

Total Revenue

$525M

Previous: $225M+132.9%
EPS (adj)

$0.87

Previous: $1.19-26.9%
Net Interest Margin

3.3%

Previous: 2.1%+53.8%
Efficiency Ratio

40.6%

Previous: 65.0%-37.5%
Common Equity Tier 1

13.0%

Previous: 11.1%+17.1%
Tier 1 Capital

14.7%

Previous: 12.6%+16.7%
Total Capital

17.7%

Previous: 15.3%+15.7%
Leverage Ratio

11.5%

Previous: 9.0%+27.8%
Capital Expenditures

$814K

Previous: $1.51M-46.0%
Free Cash Flow

-$66.9M

Previous: $109M-161.1%
Net Income

$217M

Previous: $65.1M+233.6%
Operating Income

$278M

Previous: $88.8M+213.1%
Cash & Equivalents

$4.78B

Previous: $181M+2545.0%
Total Assets

$28.4B

Previous: $34.7B-18.2%
Stock-Based Comp

$5.44M

Previous: $8.13M-33.1%

Revenue & EPS history

Texas Capital Bancshares · Revenue · Quarterly

$525M

Q4 2022+132.9%vs Q4 2021
Beat estimate in 10 of 14 quarters(71%)
ActualEstimate

Revenue by segment

Texas Capital Bancshares · $215M total across 2 segments · Q3 2021

  • Net Interest Income
    $194M
  • Non-Interest Income
    $21.2M

Forward guidance

This communication contains forward-looking statements within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+0.4%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+3.7%

Avg return

30 days after

56%

37 / 66 earnings

Positive

+11.3%

Q3 2013

Best reaction

-13.4%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.7%-1.7%-3.1%
Q4 2025-0.1%-4.5%+2.7%
Q3 2025+3.1%+2.3%+7.2%
Q2 2025+0.4%-0.8%+3.2%
Q1 2025+1.4%+1.1%+16.4%
Q4 2024-4.5%-3.4%-1.2%
Q3 2024+0.7%-1.3%+10.9%
Q2 2024-6.6%-4.8%-12.9%
Q1 2024+4.9%+7.6%+11.5%
Q4 2023+3.5%+1.5%-3.4%
Q3 2023-7.9%-7.3%-5.5%
Q2 2023+3.3%+1.4%-2.9%
Q1 2023+1.7%-3.6%-3.8%
Q4 2022+1.3%+3.0%+6.3%
Q3 2022-13.4%-11.9%-13.1%
Q2 2022+1.4%+0.9%+13.0%
Q1 2022-6.5%-8.7%-12.0%
Q4 2021-0.3%+1.1%+4.2%
Q3 2021-2.7%-3.1%-5.4%
Q2 2021+2.1%+4.0%+7.3%
Q1 2021-1.1%+4.0%+7.5%
Q4 2020-3.8%-7.9%+8.7%
Q3 2020+9.6%+15.6%+45.3%
Q2 2020+9.2%+10.5%+12.9%
Q1 2020+6.1%+23.6%+30.3%
Q4 2019-0.2%-1.6%+4.5%
Q3 2019+2.4%+1.1%+6.7%
Q2 2019-4.6%-0.9%-6.7%
Q1 2019+6.7%+6.7%+3.3%
Q4 2018-0.5%+5.3%+6.1%
Q3 2018-11.7%-16.0%-21.0%
Q2 2018+4.7%+3.9%+1.0%
Q1 2018+7.4%+7.8%+10.0%
Q4 2017-0.3%-2.0%-6.8%
Q3 2017+3.7%+3.6%-2.6%
Q2 2017+4.5%+3.9%-6.9%
Q1 2017-6.3%-2.9%-4.4%
Q4 2016+8.4%+5.8%+14.2%
Q3 2016+3.7%+2.7%+26.5%
Q2 2016-2.3%-2.2%+1.3%
Q1 2016+5.9%
Q4 2015-12.9%
Q3 2015-0.8%
Q2 2015+0.2%
Q1 2015+2.9%
Q4 2014-6.0%
Q3 2014+0.6%
Q2 2014+3.5%
Q1 2014-11.8%
Q4 2013-4.3%
Q3 2013+11.3%
Q2 2013-3.1%
Q1 2013-3.5%
Q4 2012-10.6%
Q3 2012-0.2%
Q2 2012+1.6%
Q1 2011+10.0%
Q1 2012+10.0%
Q4 2010+1.6%
Q1 2010+1.6%
Q4 2011+1.6%
Q4 2009+1.6%
Q3 2010-1.5%
Q3 2011-1.5%
Q2 2011+7.3%
Q2 2010+7.3%

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