On this page of StockholderLetter.com we present the latest annual shareholder letter from TEXAS CAPITAL BANCSHARES INC/TX — ticker symbol TCBI. Reading current and past TCBI letters to shareholders can bring important insights into the investment thesis.
2024 Annual Report
Texas Texas Capital Capital Bancshares, Bancshares, Inc. Inc. // texascapital.com // texascapital.com
Table of Contents 02 Letter from the CEO 08 Corporate Pro le 18 Appendix NASDAQ : TCBI 1
Our Transformation In the three years since the announcement of our strategic plan, our collective and deliberate actions continue to establish Texas Capital as the flagship Texas-founded, Texasheadquartered full-service firm, worthy of serving the best clients in our markets. Since the beginning of the transformation, our core focus on building a balance sheet and business model resilient to market and rate cycles remains a distinct competitive advantage. By matching this notable financial strength with significantly expanded client coverage and a broad suite of available product solutions, we are increasingly facilitating highquality client outcomes and distinguishing ourselves in the market. A Letter from Rob C. Holmes Chairman-Elect, President & Chief Executive Officer Texas Capital Bancshares, Inc. and Texas Capital On behalf of Texas Capital s Board of Directors and our Operating Committee, I am pleased to report notable progress made in 2024 toward achieving our vision of becoming the premier fullservice nancial services rm headquartered in the state of Texas. 2 Texas Capital Bancshares, Inc. // texascapital.com The resonance of our unique and rapidly maturing set of capabilities led to record performance across a variety of important financial metrics in 2024, with late-year momentum expected to accelerate into 2025. After a multi-year period of extensive investments into a defined set of scalable offerings, the firm is well-positioned to deliver for our clients and shareholders this year, and beyond.
(64%) 0.25% 8% EPS1 Growth ROAA2 Book Value per Share Growth 15% 0.74% 8% EPS1 Growth, Adjusted3 ROAA2, Adjusted3 Tangible Book Value per Share4 Growth 2024: A Year of Progress, Driving Momentum Throughout 2024, we continued to deliver strong execution across a variety of important initiatives as the firm increasingly translated a proven track record of strategic success into sustainable financial outcomes. Quarterly earnings in the second half of the year featured record performance across a multitude of key adjusted3 financial metrics: quarterly return on average assets3, return on tangible common equity3, pre-provision net revenue3, fee income3 and earnings per share3. These results marked the highest quarterly returns achieved since the start of the firmwide transformation. For the full year, fee income from our areas of focus grew 36% to a record of $178 million, and tangible book value per share4 ended the year at $66.32, a record high for the firm. Importantly, we did not sacrifice financial resilience for returns. Cash and securities as a percentage of total assets remained well above our 20% target, and we maintained peer-leading capital levels compared to the largest firms in the industry. The firm s broad and differentiated platform again enabled a record volume of new client acquisition as we onboarded nearly 40% more new clients in 2024 compared to 2023. Our investment bank had another record year, growing investment banking and trading income by 47%, to $127 million. Select milestones characterizing our third full year in operation and broad-based growth include trading more than $100 billion of securities from our Texas-based trading floor and facilitating one of the industry s largest solearranged term loan financings post COVID. Looking to 2025, we expect to sustainably maintain our target of at least 10% of revenue coming from investment banking fees as we continue earning the right to deliver quality advice and strong execution to our core commercial and corporate client bases. 1. Diluted earnings per share 2. Return on average assets 3. Non-GAAP financial measures. See Appendix for information concerning how these measures are calculated and a reconciliation to the most comparable GAAP financial measure. 4. Stockholders equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end NASDAQ : TCBI 3
 • shareholder letter icon 3/6/2025 Letter Continued (Full PDF)
 • stockholder letter icon 3/9/2023 TCBI Stockholder Letter
 • stockholder letter icon 3/7/2024 TCBI Stockholder Letter
 • stockholder letter icon More "Banking & Savings" Category Stockholder Letters
 • Benford's Law Stocks icon TCBI Benford's Law Stock Score = 95


TCBI Shareholder/Stockholder Letter Transcript:

2024
Annual Report

Texas
Texas
Capital
Capital
Bancshares,
Bancshares,
Inc. Inc.
// texascapital.com
// texascapital.com

Table of
Contents
02
Letter from the CEO
08
Corporate Pro   le
18
Appendix
NASDAQ  : TCBI

1

Our Transformation
In the three years since the announcement
of our strategic plan, our collective and
deliberate actions continue to establish Texas
Capital as the flagship Texas-founded, Texasheadquartered full-service firm, worthy of
serving the best clients in our markets.
Since the beginning of the transformation,
our core focus on building a balance sheet
and business model resilient to market and
rate cycles remains a distinct competitive
advantage. By matching this notable financial
strength with significantly expanded client
coverage and a broad suite of available product
solutions, we are increasingly facilitating highquality client outcomes and distinguishing
ourselves in the market.
A Letter from
Rob C.
Holmes
Chairman-Elect, President &
Chief Executive Officer
Texas Capital Bancshares, Inc. and Texas Capital
On behalf of Texas Capital   s Board of Directors
and our Operating Committee, I am pleased to
report notable progress made in 2024 toward
achieving our vision of becoming the premier fullservice    nancial services    rm headquartered in
the state of Texas.
2

Texas Capital Bancshares, Inc. // texascapital.com
The resonance of our unique and rapidly
maturing set of capabilities led to record
performance across a variety of important
financial metrics in 2024, with late-year
momentum expected to accelerate into
2025. After a multi-year period of extensive
investments into a defined set of scalable
offerings, the firm is well-positioned to deliver
for our clients and shareholders this year,
and beyond.

(64%)
0.25%
8%
EPS1 Growth
ROAA2
Book Value per Share Growth
15%
0.74%
8%
EPS1 Growth, Adjusted3
ROAA2, Adjusted3
Tangible Book Value per Share4 Growth
2024: A Year of Progress,
Driving Momentum
Throughout 2024, we continued to deliver
strong execution across a variety of important
initiatives as the firm increasingly translated
a proven track record of strategic success
into sustainable financial outcomes. Quarterly
earnings in the second half of the year featured
record performance across a multitude of key
adjusted3 financial metrics: quarterly return on
average assets3, return on tangible common
equity3, pre-provision net revenue3, fee income3
and earnings per share3. These results marked
the highest quarterly returns achieved since the
start of the firmwide transformation. For the full
year, fee income from our areas of focus grew
36% to a record of $178 million, and tangible
book value per share4 ended the year at $66.32,
a record high for the firm. Importantly, we did
not sacrifice financial resilience for returns.
Cash and securities as a percentage of total
assets remained well above our 20% target,
and we maintained peer-leading capital levels
compared to the largest firms in the industry.
The firm   s broad and differentiated platform
again enabled a record volume of new client
acquisition as we onboarded nearly 40% more
new clients in 2024 compared to 2023. Our
investment bank had another record year,
growing investment banking and trading
income by 47%, to $127 million. Select
milestones characterizing our third full year
in operation and broad-based growth include
trading more than $100 billion of securities
from our Texas-based trading floor and
facilitating one of the industry   s largest solearranged term loan financings post COVID.
Looking to 2025, we expect to sustainably
maintain our target of at least 10% of revenue
coming from investment banking fees as we
continue earning the right to deliver quality
advice and strong execution to our core
commercial and corporate client bases.
1. Diluted earnings per share
2. Return on average assets
3. Non-GAAP financial measures. See Appendix for information concerning how these measures are calculated and a reconciliation to the most
comparable GAAP financial measure.
4. Stockholders    equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end
NASDAQ  : TCBI

3



shareholder letter icon 3/6/2025 Letter Continued (Full PDF)
 

TCBI Stockholder/Shareholder Letter (TEXAS CAPITAL BANCSHARES INC/TX) | www.StockholderLetter.com
Copyright © 2023 - 2025, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.