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Loan-loss provisions are trending up, partly due to an increase in overall lending but also because lenders are concerned about future losses on loans tied to the energy and manufacturing sectors.
October 20 -
Texas Capital Bancshares in Dallas plans to hire 100 people for its new mortgage correspondent aggregation business line.
September 10 - Texas
Comerica in Dallas reported lower third-quarter profit that reflected higher expenses. The $71 billion-asset company said in a press release Friday that its net income fell 12% from a year earlier, to $134 million, or 74 cents a share.
October 16
Texas Capital Bancshares in Dallas reported just a modest uptick in third-quarter profits as higher compensation costs and deposit insurance assessments largely offset strong loan growth.
Net income at the $18.7 billion-asset company
Net interest income rose 13%, to $142 million, as net loans held for investment rose 18%, to $15.7 billion. However, the net interest margin shrank 65 basis points, to 3.12%.
Mortgage loans, which are included in net loans, rose 14%, to $4.3 billion. Texas Capital established a new mortgage correspondent aggregation business line this year.
However, like many other banks this, Texas Capital increased its loan-loss provision to compensate for its loan growth. The provision more than doubled, to $13.8 million.
Fee income rose 9.5%, to $11.4 million, on gains in brokered loan fees and deposit service charges.
Noninterest expense rose 13.6%, to $81.7 million. Texas Capital's Federal Deposit Insurance Corp. assessment rose 62%, to $4.5 million. Salary and benefit costs also increased, as did legal and technology fees. The efficiency ratio ticked up slightly, to 53.2%.
Texas Capital’s shares were up 2.5% at midday Thursday, to $53.17.
