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Mar 31, 2020
Texas Capital Bancshares Q1 2020 Earnings Report
Reported a net loss due to a significant provision for credit losses driven by CECL adoption and the COVID-19 pandemic.
Key Takeaways
Texas Capital Bancshares, Inc. reported a net loss of $16.7 million for Q1 2020, primarily due to a $96.0 million provision for credit losses related to CECL adoption and the COVID-19 pandemic. The company focused on maintaining a strong balance sheet with increased liquidity and reserves.
Strong balance sheet positioning with deliberate increases in liquidity and funding sources.
Over 90% of employees working virtually since early March with little to no impact on client experience.
Net loss of $16.7 million or $0.38 per share was reported.
The results reflected increases in charge-offs and criticized loans related to the COVID-19 pandemic, MSR impairment, and merger-related expenses.
Forward Guidance
This communication may be deemed to include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and the future performance of TCBI.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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