Texas Capital Bancshares (TCBI) in Dallas posted lower quarterly income due to a spike in expenses.

The $11 billion-asset company's earnings fell 19% from a year earlier, to $24.1 million. Per-share earnings of 52 cents fell 28 cents short of the average estimate of analysts polled by Bloomberg.

Noninterest expense rose 27% from a year earlier, to $68.7 million. Compensation increased 50% from the second quarter of 2012, to $45.2 million, including a $7.7 million charge due to organizational changes. The company announced during the second quarter that George Jones, its chief executive, was planning to retire.

Net interest income rose 12% from a year earlier, to $101.2 million, because of loan growth. The net interest margin narrowed by 30 basis points from a year earlier, to 3.43%.

Noninterest income increased 6% from the second quarter of 2012, to $11.1 million, because of an increase in mortgage and swap fees.

The loan-loss provision increased sevenfold from a year earlier, to $7 million. Net chargeoffs quadrupled compared to the second quarter of 2012, to $2.4 million.

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