Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Q3 2024 Earnings Conference Call October 17, 2024 9:00 AM ET

Company Participants

Rob Holmes - President and CEO
Matt Scurlock - CFO
Jocelyn Kukulka - Head of IR

Conference Call Participants

Woody Lay - KBW
Ben Gerlinger - Citi
Matt Olney - Stephens
Michael Rose - Raymond James

Operator

Good morning, all, and thank you all for attending the Texas Capital Bancshares Third Quarter 2024 Earnings Conference Call. My name is Breka, and I will be your moderator for today. [Operator Instructions]

Thank you. I would now like to pass the conference over to your host, Jocelyn Kukulka, Head of Investor Relations. Thank you. You may proceed, Jocelyn.

Jocelyn Kukulka

Good morning, and thank you for joining us for TCBI's third quarter 2024 earnings conference call. I'm Jocelyn Kukulka, Head of Investor Relations. Before we begin, please be aware that this call will include forward-looking statements that are based on our current expectations of future results or events. Forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from these statements. Our forward-looking statements are as of the date of this call, and we do not assume any obligation to update or revise them. Statements made on this call should be considered together with the cautionary statements and other information contained in today's earnings release, our most recent annual report on Form 10-K, and subsequent filings with the SEC. We will refer to slides during today's presentation, which can be found, along with the press release, in the Investor Relations section of our website at texascapitalbank.com.

Our speakers for the call today are Rob Holmes, President and CEO, and Matt Scurlock, CFO. At the conclusion of our prepared remarks, our operator will open up the call for Q&A.

And now, I’ll turn the call over to Rob for opening remarks.

Rob Holmes

Thank you for joining us today. This quarter marks three years since the announcement of our strategic plan in September of 2021. Our collective and deliberate actions over the last several years, including those announced last month, continue to establish our firm as worthy of serving the best clients in our markets with superior product breadth and banker execution, increasingly resulting in high quality financial outcomes, which we believed the model would ultimately be capable of producing. On an adjusted basis, this quarter featured record performance across a variety of important financial metrics. Quarterly return on average assets of 1%, return on common equity of 10%, pre-provision net revenue of $115 million, fee income of $64.8 million, and earnings per share of $1.59, all reached record levels since the beginning of the transformation, while investment banking, trading income, and tangible book value per share reached the highest levels in firm history. With unquestioned market momentum, an increasingly complete and differentiated platform, and robust capital liquidity, we are well positioned to execute throughout 2025.