04/18/2024 | Press release | Distributed by Public on 04/18/2024 04:03
FINANCIAL RESULTS | ||||||
(dollars and shares in thousands) | ||||||
1st Quarter | 4th Quarter | 1st Quarter | ||||
2024 | 2023 | 2023 | ||||
OPERATING RESULTS | ||||||
Net income | $ | 26,142 | $ | 20,150 | $ | 38,661 |
Net income available to common stockholders | $ | 21,829 | $ | 15,838 | $ | 34,348 |
Diluted earnings per common share | $ | 0.46 | $ | 0.33 | $ | 0.70 |
Diluted common shares | 47,711 | 48,098 | 48,881 | |||
Return on average assets | 0.36 | % | 0.27 | % | 0.53 | % |
Return on average common equity | 3.03 | % | 2.25 | % | 5.06 | % |
BALANCE SHEET | ||||||
Loans held for investment | $ | 16,677,691 | $ | 16,362,230 | $ | 16,014,497 |
Loans held for investment, mortgage finance | 4,153,313 | 3,978,328 | 4,060,570 | |||
Total loans held for investment | 20,831,004 | 20,340,558 | 20,075,067 | |||
Loans held for sale | 37,750 | 44,105 | 27,608 | |||
Total assets | 29,180,585 | 28,356,266 | 28,596,653 | |||
Non-interest bearing deposits | 8,478,215 | 7,328,276 | 9,500,583 | |||
Total deposits | 23,954,037 | 22,371,839 | 22,179,697 | |||
Stockholders' equity | 3,170,662 | 3,199,142 | 3,079,974 | |||
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED) | ||||||||||
(dollars in thousands except per share data) | ||||||||||
1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | ||||||
2024 | 2023 | 2023 | 2023 | 2023 | ||||||
CONSOLIDATED STATEMENTS OF INCOME | ||||||||||
Interest income | $ | 417,378 | $ | 417,072 | $ | 425,769 | $ | 401,916 | $ | 385,166 |
Interest expense | 202,369 | 202,355 | 193,698 | 169,926 | 149,821 | |||||
Net interest income | 215,009 | 214,717 | 232,071 | 231,990 | 235,345 | |||||
Provision for credit losses | 19,000 | 19,000 | 18,000 | 7,000 | 28,000 | |||||
Net interest income after provision for credit losses | 196,009 | 195,717 | 214,071 | 224,990 | 207,345 | |||||
Non-interest income | 41,319 | 31,133 | 46,872 | 46,011 | 37,403 | |||||
Non-interest expense | 202,393 | 201,385 | 179,891 | 181,644 | 194,027 | |||||
Income before income taxes | 34,935 | 25,465 | 81,052 | 89,357 | 50,721 | |||||
Income tax expense | 8,793 | 5,315 | 19,373 | 20,706 | 12,060 | |||||
Net income | 26,142 | 20,150 | 61,679 | 68,651 | 38,661 | |||||
Preferred stock dividends | 4,313 | 4,312 | 4,313 | 4,312 | 4,313 | |||||
Net income available to common stockholders | $ | 21,829 | $ | 15,838 | $ | 57,366 | $ | 64,339 | $ | 34,348 |
Diluted earnings per common share | $ | 0.46 | $ | 0.33 | $ | 1.18 | $ | 1.33 | $ | 0.70 |
Diluted common shares | 47,711,192 | 48,097,517 | 48,528,698 | 48,421,276 | 48,880,725 | |||||
CONSOLIDATED BALANCE SHEET DATA | ||||||||||
Total assets | $ | 29,180,585 | $ | 28,356,266 | $ | 29,628,249 | $ | 28,976,544 | $ | 28,596,653 |
Loans held for investment | 16,677,691 | 16,362,230 | 16,183,882 | 16,227,203 | 16,014,497 | |||||
Loans held for investment, mortgage finance | 4,153,313 | 3,978,328 | 4,429,489 | 5,098,812 | 4,060,570 | |||||
Loans held for sale | 37,750 | 44,105 | 155,073 | 29,097 | 27,608 | |||||
Interest bearing cash and cash equivalents | 3,148,157 | 3,042,357 | 3,975,860 | 2,587,131 | 3,385,494 | |||||
Investment securities | 4,414,280 | 4,143,194 | 4,069,717 | 4,226,653 | 4,345,969 | |||||
Non-interest bearing deposits | 8,478,215 | 7,328,276 | 9,352,883 | 9,429,352 | 9,500,583 | |||||
Total deposits | 23,954,037 | 22,371,839 | 23,878,978 | 23,318,240 | 22,179,697 | |||||
Short-term borrowings | 750,000 | 1,500,000 | 1,400,000 | 1,350,000 | 2,100,000 | |||||
Long-term debt | 859,823 | 859,147 | 858,471 | 857,795 | 932,119 | |||||
Stockholders' equity | 3,170,662 | 3,199,142 | 3,077,700 | 3,081,927 | 3,079,974 | |||||
End of period shares outstanding | 46,986,275 | 47,237,912 | 48,015,003 | 47,992,521 | 47,851,862 | |||||
Book value per share | $ | 61.10 | $ | 61.37 | $ | 57.85 | $ | 57.97 | $ | 58.10 |
Tangible book value per share(1)
|
$ | 61.06 | $ | 61.34 | $ | 57.82 | $ | 57.93 | $ | 58.06 |
SELECTED FINANCIAL RATIOS | ||||||||||
Net interest margin | 3.03 | % | 2.93 | % | 3.13 | % | 3.29 | % | 3.33 | % |
Return on average assets | 0.36 | % | 0.27 | % | 0.81 | % | 0.95 | % | 0.53 | % |
Return on average common equity | 3.03 | % | 2.25 | % | 8.08 | % | 9.17 | % | 5.06 | % |
Non-interest income to average earning assets | 0.59 | % | 0.43 | % | 0.64 | % | 0.66 | % | 0.54 | % |
Efficiency ratio(2)
|
79.0 | % | 81.9 | % | 64.5 | % | 65.3 | % | 71.1 | % |
Non-interest expense to average earning assets | 2.89 | % | 2.79 | % | 2.46 | % | 2.61 | % | 2.78 | % |
Common equity to total assets | 9.8 | % | 10.2 | % | 9.4 | % | 9.6 | % | 9.7 | % |
Tangible common equity to total tangible assets(3)
|
9.8 | % | 10.2 | % | 9.4 | % | 9.6 | % | 9.7 | % |
Common Equity Tier 1 | 12.4 | % | 12.6 | % | 12.7 | % | 12.2 | % | 12.4 | % |
Tier 1 capital | 13.9 | % | 14.2 | % | 14.3 | % | 13.7 | % | 14.0 | % |
Total capital | 16.6 | % | 17.1 | % | 17.1 | % | 16.4 | % | 16.9 | % |
Leverage | 12.4 | % | 12.2 | % | 12.1 | % | 12.4 | % | 12.0 | % |
TEXAS CAPITAL BANCSHARES, INC. | ||||||
CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||||||
(dollars in thousands) | ||||||
March 31, 2024 | March 31, 2023 | % Change | ||||
Assets | ||||||
Cash and due from banks | $ | 167,985 | $ | 264,211 | (36) | % |
Interest bearing cash and cash equivalents | 3,148,157 | 3,385,494 | (7) | % | ||
Available-for-sale debt securities | 3,491,510 | 3,394,293 | 3 | % | ||
Held-to-maturity debt securities | 849,283 | 918,962 | (8) | % | ||
Equity securities | 73,487 | 32,714 | 125 | % | ||
Investment securities | 4,414,280 | 4,345,969 | 2 | % | ||
Loans held for sale | 37,750 | 27,608 | 37 | % | ||
Loans held for investment, mortgage finance | 4,153,313 | 4,060,570 | 2 | % | ||
Loans held for investment | 16,677,691 | 16,014,497 | 4 | % | ||
Less: Allowance for credit losses on loans | 263,962 | 260,928 | 1 | % | ||
Loans held for investment, net | 20,567,042 | 19,814,139 | 4 | % | ||
Premises and equipment, net | 49,899 | 25,268 | 97 | % | ||
Accrued interest receivable and other assets | 793,976 | 732,468 | 8 | % | ||
Goodwill and intangibles, net | 1,496 | 1,496 | - | % | ||
Total assets | $ | 29,180,585 | $ | 28,596,653 | 2 | % |
Liabilities and Stockholders' Equity | ||||||
Liabilities: | ||||||
Non-interest bearing deposits | $ | 8,478,215 | $ | 9,500,583 | (11) | % |
Interest bearing deposits | 15,475,822 | 12,679,114 | 22 | % | ||
Total deposits | 23,954,037 | 22,179,697 | 8 | % | ||
Accrued interest payable | 32,352 | 31,198 | 4 | % | ||
Other liabilities | 413,711 | 273,665 | 51 | % | ||
Short-term borrowings | 750,000 | 2,100,000 | (64) | % | ||
Long-term debt | 859,823 | 932,119 | (8) | % | ||
Total liabilities | 26,009,923 | 25,516,679 | 2 | % | ||
Stockholders' equity: | ||||||
Preferred stock, $.01 par value, $1,000 liquidation value: | ||||||
Authorized shares - 10,000,000 | ||||||
Issued shares - 300,000 shares issued at March 31, 2024 and 2023
|
300,000 | 300,000 | - | % | ||
Common stock, $.01 par value: | ||||||
Authorized shares - 100,000,000 | ||||||
Issued shares - 51,420,680 and 50,947,306 at March 31, 2024 and 2023, respectively
|
514 | 509 | 1 | % | ||
Additional paid-in capital | 1,044,669 | 1,031,905 | 1 | % | ||
Retained earnings | 2,457,222 | 2,297,850 | 7 | % | ||
Treasury stock - 4,434,405 and 3,095,444 shares at cost at March 31, 2024 and 2023, respectively
|
(251,857) | (175,528) | 43 | % | ||
Accumulated other comprehensive loss, net of taxes | (379,886) | (374,762) | 1 | % | ||
Total stockholders' equity | 3,170,662 | 3,079,974 | 3 | % | ||
Total liabilities and stockholders' equity | $ | 29,180,585 | $ | 28,596,653 | 2 | % |
TEXAS CAPITAL BANCSHARES, INC. | ||||
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | ||||
(dollars in thousands except per share data) | ||||
Three Months Ended March 31, | ||||
2024 | 2023 | |||
Interest income | ||||
Interest and fees on loans | $ | 330,879 | $ | 297,438 |
Investment securities | 32,144 | 25,292 | ||
Interest bearing cash and cash equivalents | 54,355 | 62,436 | ||
Total interest income | 417,378 | 385,166 | ||
Interest expense | ||||
Deposits | 175,600 | 120,094 | ||
Short-term borrowings | 12,783 | 14,744 | ||
Long-term debt | 13,986 | 14,983 | ||
Total interest expense | 202,369 | 149,821 | ||
Net interest income | 215,009 | 235,345 | ||
Provision for credit losses | 19,000 | 28,000 | ||
Net interest income after provision for credit losses | 196,009 | 207,345 | ||
Non-interest income | ||||
Service charges on deposit accounts | 6,339 | 5,022 | ||
Wealth management and trust fee income | 3,567 | 3,429 | ||
Brokered loan fees | 1,911 | 1,895 | ||
Investment banking and advisory fees | 18,424 | 14,564 | ||
Trading income | 4,712 | 4,204 | ||
Other | 6,366 | 8,289 | ||
Total non-interest income | 41,319 | 37,403 | ||
Non-interest expense | ||||
Salaries and benefits | 128,727 | 128,670 | ||
Occupancy expense | 9,737 | 9,619 | ||
Marketing | 6,036 | 9,044 | ||
Legal and professional | 16,195 | 14,514 | ||
Communications and technology | 21,114 | 17,523 | ||
Federal Deposit Insurance Corporation insurance assessment | 8,421 | 2,170 | ||
Other | 12,163 | 12,487 | ||
Total non-interest expense | 202,393 | 194,027 | ||
Income before income taxes | 34,935 | 50,721 | ||
Income tax expense | 8,793 | 12,060 | ||
Net income | 26,142 | 38,661 | ||
Preferred stock dividends | 4,313 | 4,313 | ||
Net income available to common stockholders | $ | 21,829 | $ | 34,348 |
Basic earnings per common share | $ | 0.46 | $ | 0.71 |
Diluted earnings per common share | $ | 0.46 | $ | 0.70 |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
SUMMARY OF CREDIT LOSS EXPERIENCE | ||||||||||
(dollars in thousands) | ||||||||||
1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | ||||||
2024 | 2023 | 2023 | 2023 | 2023 | ||||||
Allowance for credit losses on loans: | ||||||||||
Beginning balance | $ | 249,973 | $ | 244,902 | $ | 237,343 | $ | 260,928 | $ | 253,469 |
Loans charged-off: | ||||||||||
Commercial | 7,544 | 8,356 | 13,246 | 8,852 | 20,732 | |||||
Commercial real estate | 3,325 | 5,500 | - | - | - | |||||
Consumer | - | - | 41 | - | - | |||||
Total charge-offs | 10,869 | 13,856 | 13,287 | 8,852 | 20,732 | |||||
Recoveries: | ||||||||||
Commercial | 105 | 15 | 4,346 | 611 | 819 | |||||
Commercial real estate | - | 4 | - | - | - | |||||
Consumer | - | - | - | 2 | 3 | |||||
Total recoveries | 105 | 19 | 4,346 | 613 | 822 | |||||
Net charge-offs | 10,764 | 13,837 | 8,941 | 8,239 | 19,910 | |||||
Provision for credit losses on loans | 24,753 | 18,908 | 16,500 | (15,346) | 27,369 | |||||
Ending balance | $ | 263,962 | $ | 249,973 | $ | 244,902 | $ | 237,343 | $ | 260,928 |
Allowance for off-balance sheet credit losses: | ||||||||||
Beginning balance | $ | 46,362 | $ | 46,270 | $ | 44,770 | $ | 22,424 | $ | 21,793 |
Provision for off-balance sheet credit losses | (5,753) | 92 | 1,500 | 22,346 | 631 | |||||
Ending balance | $ | 40,609 | $ | 46,362 | $ | 46,270 | $ | 44,770 | $ | 22,424 |
Total allowance for credit losses | $ | 304,571 | $ | 296,335 | $ | 291,172 | $ | 282,113 | $ | 283,352 |
Total provision for credit losses | $ | 19,000 | $ | 19,000 | $ | 18,000 | $ | 7,000 | $ | 28,000 |
Allowance for credit losses on loans to total loans held for investment | 1.27 | % | 1.23 | % | 1.19 | % | 1.11 | % | 1.30 | % |
Allowance for credit losses on loans to average total loans held for investment | 1.32 | % | 1.24 | % | 1.17 | % | 1.15 | % | 1.38 | % |
Net charge-offs to average total loans held for investment(1)
|
0.22 | % | 0.27 | % | 0.17 | % | 0.16 | % | 0.43 | % |
Net charge-offs to average total loans held for investment for last 12 months(1)
|
0.20 | % | 0.25 | % | 0.26 | % | 0.23 | % | 0.19 | % |
Total provision for credit losses to average total loans held for investment(1)
|
0.38 | % | 0.37 | % | 0.34 | % | 0.14 | % | 0.60 | % |
Total allowance for credit losses to total loans held for investment
|
1.46 | % | 1.46 | % | 1.41 | % | 1.32 | % | 1.41 | % |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
SUMMARY OF NON-PERFORMING ASSETS AND PAST DUE LOANS | ||||||||||
(dollars in thousands) | ||||||||||
1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | ||||||
2024 | 2023 | 2023 | 2023 | 2023 | ||||||
Non-accrual loans held for investment | $ | 92,849 | $ | 81,398 | $ | 63,129 | $ | 81,039 | $ | 93,951 |
Non-accrual loans held for sale(1) | 9,250 | - | - | - | - | |||||
Other real estate owned | - | - | - | - | - | |||||
Total non-performing assets | $ | 102,099 | $ | 81,398 | $ | 63,129 | $ | 81,039 | $ | 93,951 |
Non-accrual loans held for investment to total loans held for investment | 0.45 | % | 0.40 | % | 0.31 | % | 0.38 | % | 0.47 | % |
Total non-performing assets to total assets | 0.35 | % | 0.29 | % | 0.21 | % | 0.28 | % | 0.33 | % |
Allowance for credit losses on loans to non-accrual loans held for investment | 2.8x | 3.1x | 3.9x | 2.9x | 2.8x | |||||
Total allowance for credit losses to non-accrual loans held for investment | 3.3x | 3.6x | 4.6x | 3.5x | 3.0x | |||||
Loans held for investment past due 90 days and still accruing
|
$ | 3,674 | $ | 19,523 | $ | 4,602 | $ | 64 | $ | 3,098 |
Loans held for investment past due 90 days to total loans held for investment | 0.02 | % | 0.10 | % | 0.02 | % | - | % | 0.02 | % |
Loans held for sale past due 90 days and still accruing
|
$ | 147 | $ | - | $ | - | $ | - | $ | - |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | ||||||||||
(dollars in thousands) | ||||||||||
1st Quarter | 4th Quarter | 3rd Quarter | 2nd Quarter | 1st Quarter | ||||||
2024 | 2023 | 2023 | 2023 | 2023 | ||||||
Interest income | ||||||||||
Interest and fees on loans | $ | 330,879 | $ | 325,210 | $ | 345,138 | $ | 332,867 | $ | 297,438 |
Investment securities | 32,144 | 28,454 | 27,070 | 27,478 | 25,292 | |||||
Interest bearing deposits in other banks | 54,355 | 63,408 | 53,561 | 41,571 | 62,436 | |||||
Total interest income | 417,378 | 417,072 | 425,769 | 401,916 | 385,166 | |||||
Interest expense | ||||||||||
Deposits | 175,600 | 170,173 | 160,117 | 137,391 | 120,094 | |||||
Short-term borrowings | 12,783 | 18,069 | 19,576 | 18,253 | 14,744 | |||||
Long-term debt | 13,986 | 14,113 | 14,005 | 14,282 | 14,983 | |||||
Total interest expense | 202,369 | 202,355 | 193,698 | 169,926 | 149,821 | |||||
Net interest income | 215,009 | 214,717 | 232,071 | 231,990 | 235,345 | |||||
Provision for credit losses | 19,000 | 19,000 | 18,000 | 7,000 | 28,000 | |||||
Net interest income after provision for credit losses | 196,009 | 195,717 | 214,071 | 224,990 | 207,345 | |||||
Non-interest income | ||||||||||
Service charges on deposit accounts | 6,339 | 5,397 | 5,297 | 5,158 | 5,022 | |||||
Wealth management and trust fee income | 3,567 | 3,302 | 3,509 | 3,715 | 3,429 | |||||
Brokered loan fees | 1,911 | 2,076 | 2,532 | 2,415 | 1,895 | |||||
Investment banking and advisory fees | 18,424 | 6,906 | 23,099 | 19,101 | 14,564 | |||||
Trading income | 4,712 | 3,819 | 6,092 | 8,397 | 4,204 | |||||
Other | 6,366 | 9,633 | 6,343 | 7,225 | 8,289 | |||||
Total non-interest income | 41,319 | 31,133 | 46,872 | 46,011 | 37,403 | |||||
Non-interest expense | ||||||||||
Salaries and benefits | 128,727 | 107,970 | 110,010 | 113,050 | 128,670 | |||||
Occupancy expense | 9,737 | 9,483 | 9,910 | 9,482 | 9,619 | |||||
Marketing | 6,036 | 5,686 | 4,757 | 6,367 | 9,044 | |||||
Legal and professional | 16,195 | 17,127 | 17,614 | 15,669 | 14,514 | |||||
Communications and technology | 21,114 | 23,607 | 19,607 | 20,525 | 17,523 | |||||
Federal Deposit Insurance Corporation insurance assessment | 8,421 | 25,143 | 5,769 | 3,693 | 2,170 | |||||
Other | 12,163 | 12,369 | 12,224 | 12,858 | 12,487 | |||||
Total non-interest expense | 202,393 | 201,385 | 179,891 | 181,644 | 194,027 | |||||
Income before income taxes | 34,935 | 25,465 | 81,052 | 89,357 | 50,721 | |||||
Income tax expense | 8,793 | 5,315 | 19,373 | 20,706 | 12,060 | |||||
Net income | 26,142 | 20,150 | 61,679 | 68,651 | 38,661 | |||||
Preferred stock dividends | 4,313 | 4,312 | 4,313 | 4,312 | 4,313 | |||||
Net income available to common shareholders | $ | 21,829 | $ | 15,838 | $ | 57,366 | $ | 64,339 | $ | 34,348 |
TEXAS CAPITAL BANCSHARES, INC. | ||||||||||||||||||||||||||||||
TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1)
|
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(dollars in thousands) | ||||||||||||||||||||||||||||||
1st Quarter 2024 | 4th Quarter 2023 | 3rd Quarter 2023 | 2nd Quarter 2023 | 1st Quarter 2023 | ||||||||||||||||||||||||||
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate |
Average Balance |
Income/ Expense |
Yield/ Rate |
||||||||||||||||
Assets | ||||||||||||||||||||||||||||||
Investment securities(2)
|
$ | 4,299,368 | $ | 32,144 | 2.77 | % | $ | 4,078,975 | $ | 28,454 | 2.48 | % | $ | 4,204,749 | $ | 27,070 | 2.33 | % | $ | 4,306,881 | $ | 27,478 | 2.36 | % | $ | 4,060,456 | $ | 25,292 | 2.31 | % |
Interest bearing cash and cash equivalents | 4,051,627 | 54,355 | 5.40 | % | 4,637,374 | 63,408 | 5.42 | % | 3,965,045 | 53,561 | 5.36 | % | 3,286,091 | 41,571 | 5.07 | % | 5,541,341 | 62,436 | 4.57 | % | ||||||||||
Loans held for sale | 51,164 | 1,184 | 9.31 | % | 29,071 | 672 | 9.17 | % | 31,878 | 647 | 8.06 | % | 28,414 | 599 | 8.46 | % | 43,472 | 938 | 8.75 | % | ||||||||||
Loans held for investment, mortgage finance(4)
|
3,517,707 | 31,455 | 3.60 | % | 3,946,280 | 33,709 | 3.39 | % | 4,697,702 | 50,813 | 4.29 | % | 4,376,235 | 49,425 | 4.53 | % | 3,286,804 | 37,419 | 4.62 | % | ||||||||||
Loans held for investment(3)(4)
|
16,522,089 | 298,306 | 7.26 | % | 16,164,233 | 290,897 | 7.14 | % | 16,317,324 | 293,750 | 7.14 | % | 16,217,314 | 282,956 | 7.00 | % | 15,598,854 | 259,240 | 6.74 | % | ||||||||||
Less: Allowance for credit losses on loans
|
249,936 | - | - | 244,287 | - | - | 238,883 | - | - | 261,027 | - | - | 252,727 | - | - | |||||||||||||||
Loans held for investment, net | 19,789,860 | 329,761 | 6.70 | % | 19,866,226 | 324,606 | 6.48 | % | 20,776,143 | 344,563 | 6.58 | % | 20,332,522 | 332,381 | 6.56 | % | 18,632,931 | 296,659 | 6.46 | % | ||||||||||
Total earning assets | 28,192,019 | 417,444 | 5.88 | % | 28,611,646 | 417,140 | 5.69 | % | 28,977,815 | 425,841 | 5.75 | % | 27,953,908 | 402,029 | 5.69 | % | 28,278,200 | 385,325 | 5.45 | % | ||||||||||
Cash and other assets | 1,058,463 | 1,120,354 | 1,106,031 | 1,049,145 | 1,041,745 | |||||||||||||||||||||||||
Total assets | $ | 29,250,482 | $ | 29,732,000 | $ | 30,083,846 | $ | 29,003,053 | $ | 29,319,945 | ||||||||||||||||||||
Liabilities and Stockholders' Equity | ||||||||||||||||||||||||||||||
Transaction deposits | $ | 2,006,493 | $ | 16,858 | 3.38 | % | $ | 1,972,324 | $ | 15,613 | 3.14 | % | $ | 1,755,451 | $ | 13,627 | 3.08 | % | $ | 1,345,742 | $ | 9,468 | 2.82 | % | $ | 776,500 | $ | 3,853 | 2.01 | % |
Savings deposits | 11,409,677 | 136,790 | 4.82 | % | 11,043,155 | 132,801 | 4.77 | % | 10,858,306 | 127,323 | 4.65 | % | 10,590,558 | 114,275 | 4.33 | % | 11,195,402 | 105,707 | 3.83 | % | ||||||||||
Time deposits | 1,719,325 | 21,952 | 5.14 | % | 1,716,812 | 21,759 | 5.03 | % | 1,610,235 | 19,167 | 4.72 | % | 1,531,922 | 13,648 | 3.57 | % | 1,430,657 | 10,534 | 2.99 | % | ||||||||||
Total interest bearing deposits | 15,135,495 | 175,600 | 4.67 | % | 14,732,291 | 170,173 | 4.58 | % | 14,223,992 | 160,117 | 4.47 | % | 13,468,222 | 137,391 | 4.09 | % | 13,402,559 | 120,094 | 3.63 | % | ||||||||||
Short-term borrowings | 912,088 | 12,783 | 5.64 | % | 1,257,609 | 18,069 | 5.70 | % | 1,393,478 | 19,576 | 5.57 | % | 1,397,253 | 18,253 | 5.24 | % | 1,242,881 | 14,744 | 4.81 | % | ||||||||||
Long-term debt | 859,509 | 13,986 | 6.54 | % | 858,858 | 14,113 | 6.52 | % | 858,167 | 14,005 | 6.47 | % | 883,871 | 14,282 | 6.48 | % | 931,796 | 14,983 | 6.52 | % | ||||||||||
Total interest bearing liabilities | 16,907,092 | 202,369 | 4.81 | % | 16,848,758 | 202,355 | 4.76 | % | 16,475,637 | 193,698 | 4.66 | % | 15,749,346 | 169,926 | 4.33 | % | 15,577,236 | 149,821 | 3.90 | % | ||||||||||
Non-interest bearing deposits | 8,637,775 | 9,247,491 | 10,016,579 | 9,749,105 | 10,253,731 | |||||||||||||||||||||||||
Other liabilities | 509,286 | 541,162 | 474,869 | 389,155 | 436,621 | |||||||||||||||||||||||||
Stockholders' equity | 3,196,329 | 3,094,589 | 3,116,761 | 3,115,447 | 3,052,357 | |||||||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 29,250,482 | $ | 29,732,000 | $ | 30,083,846 | $ | 29,003,053 | $ | 29,319,945 | ||||||||||||||||||||
Net interest income
|
$ | 215,075 | $ | 214,785 | $ | 232,143 | $ | 232,103 | $ | 235,504 | ||||||||||||||||||||
Net interest margin | 3.03 | % | 2.93 | % | 3.13 | % | 3.29 | % | 3.33 | % |