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Exhibit 99.1
For immediate release
January 28, 2009
January 28, 2009
INVESTOR CONTACT
Myrna Vance, 214.932.6646
myrna.vance@texascapitalbank.com
Myrna Vance, 214.932.6646
myrna.vance@texascapitalbank.com
TEXAS CAPITAL BANCSHARES ANNOUNCES OPERATING RESULTS FOR 2008
DALLAS — January 28, 2009 — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of
Texas Capital Bank, announced earnings and operating results for the fourth quarter and full year
of 2008.
| • | Loans held for investment grew 16% and total loans grew 24% | ||
| • | Demand deposits grew 11% and total deposits grew 9% | ||
| • | Net income decreased 21% for the year and 47% for the quarter | ||
| • | EPS decreased 25% for the year and 54% for the quarter |
“We experienced good loan growth in the fourth quarter, despite the economic downturn and issues
affecting our industry” said George Jones, CEO. “With the substantial increase in capital, we enter
2009 in a position to take advantage of opportunities in our marketplace while maintaining our
focus on credit quality. Our business model is intact, and we are well positioned to extend our
growth strategy. However, the challenging economic conditions affecting the nation and the banking
industry make it difficult to formalize guidance for net income for 2009 at this time.”
FINANCIAL SUMMARY
(dollars and shares in thousands)
(dollars and shares in thousands)
| 2008 | 2007 | % Change | ||||||||||
ANNUAL OPERATING RESULTS |
||||||||||||
Net Income(1) |
$ | 24,882 | $ | 31,353 | (21 | %) | ||||||
Diluted EPS(1) |
$ | .89 | $ | 1.18 | (25 | %) | ||||||
ROA(1) |
.55 | % | .80 | % | ||||||||
ROE(1) |
7.46 | % | 11.51 | % | ||||||||
Diluted Shares |
28,049 | 26,679 | ||||||||||
| Q4 2008 | Q4 2007 | % Change | ||||||||||
QUARTERLY OPERATING RESULTS |
||||||||||||
Net Income(1) |
$ | 3,487 | $ | 6,538 | (47 | %) | ||||||
Diluted EPS(1) |
$ | .11 | $ | .24 | (54 | %) | ||||||
ROA(1) |
.29 | % | .63 | % | ||||||||
ROE(1) |
3.61 | % | 8.88 | % | ||||||||
Diluted Shares |
31,038 | 26,791 | ||||||||||
| 2008 | 2007 | % Change | ||||||||||
BALANCE SHEET |
||||||||||||
Total Assets(1) |
$ | 5,139,564 | $ | 4,286,718 | 20 | % | ||||||
Demand Deposits |
587,161 | 529,334 | 11 | % | ||||||||
Total Deposits |
3,333,187 | 3,066,377 | 9 | % | ||||||||
Loans Held for Investment |
4,027,871 | 3,462,608 | 16 | % | ||||||||
Total Loans(1) |
4,524,222 | 3,636,774 | 24 | % | ||||||||
Stockholders’ Equity |
387,073 | 295,138 | 31 | % | ||||||||
| (1) | From continuing operations |
1
The following information was filed by Texas Capital Bancshares Inctx (TCBI) on Thursday, January 29, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Texas Capital Bancshares Inctx provided additional information to their SEC Filing as exhibits
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Ticker: TCBI
CIK: 1077428
Form Type: 10-K Annual Report
Accession Number: 0000950134-09-003297
Submitted to the SEC: Thu Feb 19 2009 4:54:59 PM EST
Accepted by the SEC: Thu Feb 19 2009
Period: Wednesday, December 31, 2008
Industry: State Commercial Banks
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