A triple whammy of nonperforming energy loans, higher expenses and a decline in fee income walloped Texas Capital Bancshares' first-quarter profit.

The Dallas company said in a press release Friday that net income fell 30% from a year earlier to $22.7 million, or 49 cents a share.

Net interest income at the $20.2 billion-asset company, including the loan-loss provision, fell 4% to $144.8 million. The provision nearly tripled to $30 million because of energy loans moved to classified status. The net interest margin narrowed by 9 basis points to 3.13%.

Loans held for investment rose 5% to $17 billion. Mortgage finance loans, a segment of loans held for investment, fell 8% to $5 billion.

Noninterest income fell 8% to $11.3 million, reflecting declines in trust fee income and swap fees.

Noninterest expense rose 13% to $86.8 million. Salaries, occupancy expense, legal and professional services, technology and the carrying costs on foreclosed properties all increased. The efficiency ratio worsened to 55.6% from 53.8%.

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