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TEXAS CAPITAL BANCSHARES INC/TX0001077428false00010774282025-07-172025-07-170001077428us-gaap:CommonStockMember2025-07-172025-07-170001077428us-gaap:SeriesBPreferredStockMember2025-07-172025-07-17

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 17, 2025
TEXAS CAPITAL BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-34657 75-2679109
(State or other jurisdiction of
incorporation)		 (Commission
File Number)		 (I.R.S. Employer
Identification Number)
2000 McKinney Avenue, Suite 700, Dallas, Texas, U.S.A.
(Address of principal executive offices)
75201
(Zip Code)
Registrant’s telephone number, including area code: (214) 932-6600
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01 per share TCBI The Nasdaq Stock Market
5.75% Non-Cumulative Perpetual Preferred Stock Series B, par value $0.01 per share TCBIO The Nasdaq Stock Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02.    Results of Operations and Financial Condition.
On July 17, 2025, Texas Capital Bancshares, Inc. issued a press release and made available presentation slides regarding its operating and financial results for its fiscal quarter ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1. A copy of the presentation is attached hereto as Exhibit 99.2.
The information in Item 2.02 of this report (including Exhibits 99.1 and 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act of 1934, as amended, except as expressly set forth by specific reference in such a filing.
Item 9.01.    Financial Statements and Exhibits.

(d)    Exhibits
99.1    Press Release, dated July 17, 2025 announcing Texas Capital Bancshares, Inc.'s operating and financial results for its fiscal quarter ended June 30, 2025

99.2    Presentation dated July 17, 2025 discussing Texas Capital Bancshares, Inc.’s operating and financial results for its fiscal quarter ended June 30, 2025

104    Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 17, 2025 TEXAS CAPITAL BANCSHARES, INC.
  By:   /s/ J. Matthew Scurlock
    J. Matthew Scurlock
Chief Financial Officer


EX-99.1 2 a7172025exhibit991.htm EX-99.1 EARNINGS RELEASE Document

Exhibit 99.1
tcbicolorlogoforreleasea.jpg
INVESTOR CONTACT
Jocelyn Kukulka, 469.399.8544
jocelyn.kukulka@texascapitalbank.com
MEDIA CONTACT
Julia Monter, 469.399.8425
julia.monter@texascapitalbank.com
TEXAS CAPITAL BANCSHARES, INC. ANNOUNCES SECOND QUARTER 2025 RESULTS
Second quarter 2025 net income of $77.3 million and net income available to common stockholders
of $73.0 million, up 86% and 95%, respectively, year-over-year
Second quarter 2025 EPS of $1.58 per diluted share and adjusted EPS(1) of $1.63 per
diluted share, up 98% and 104%, respectively, year-over-year
Strong balance sheet growth with total loans increasing 7% quarter-over-quarter and 10% year-over-year
Book Value and Tangible Book Value(2) per share both increasing 13% year-over-year, reaching record levels
DALLAS - July 17, 2025 - Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the second quarter of 2025.
“Our multi-year focus on building a differentiated, full-service financial services firm has strengthened our client franchise and consistently delivered high-quality outcomes across our platform, driving strong financial performance this quarter,” said Rob C. Holmes, Chairman, President & CEO. “The strategic actions we’ve taken have structurally enhanced our earnings power, and as we enter the second half of the year, the breadth of our capabilities and the strength of our balance sheet position us to deliver durable, through-cycle results for both clients and shareholders.”
2nd Quarter 1st Quarter 2nd Quarter
(dollars in thousands except per share data) 2025 2025 2024
OPERATING RESULTS
Net income $ 77,328  $ 47,047  $ 41,662 
Net income available to common stockholders $ 73,016  $ 42,734  $ 37,350 
Pre-provision net revenue(3)
 $ 117,188  $ 77,458  $ 78,597 
Diluted earnings per common share $ 1.58  $ 0.92  $ 0.80 
Diluted common shares 46,215,394  46,616,704  46,872,498 
Return on average assets 0.99  % 0.61  % 0.56  %
Return on average common equity 9.17  % 5.56  % 5.26  %
OPERATING RESULTS, ADJUSTED(1)
Net income $ 79,841  $ 47,047  $ 42,020 
Net income available to common stockholders $ 75,529  $ 42,734  $ 37,708 
Pre-provision net revenue(3)
 $ 120,475  $ 77,458  $ 79,059 
Diluted earnings per common share $ 1.63  $ 0.92  $ 0.80 
Diluted common shares 46,215,394  46,616,704  46,872,498 
Return on average assets 1.02  % 0.61  % 0.57  %
Return on average common equity 9.48  % 5.56  % 5.31  %
BALANCE SHEET
Loans held for investment $ 18,035,945  $ 17,654,243  $ 16,700,569 
Loans held for investment, mortgage finance 5,889,589  4,725,541  5,078,161 
Total loans held for investment 23,925,534  22,379,784  21,778,730 
Loans held for sale —  —  36,785 
Total assets 31,943,535  31,375,749  29,854,994 
Non-interest bearing deposits 7,718,006  7,874,780  7,987,715 
Total deposits 26,064,309  26,053,034  23,818,327 
Stockholders’ equity 3,510,070  3,429,774  3,175,601 
(1)    These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.
(2)    Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
(3)    Net interest income plus non-interest income, less non-interest expense.


SECOND QUARTER 2025 COMPARED TO FIRST QUARTER 2025
For the second quarter of 2025, net income available to common stockholders was $73.0 million, or $1.58 per diluted share, compared to $42.7 million, or $0.92 per diluted share, for the first quarter of 2025.
Provision for credit losses for the second quarter of 2025 was $15.0 million, compared to $17.0 million for the first quarter of 2025. The $15.0 million provision for credit losses recorded in the second quarter of 2025 resulted primarily from an increase in total loans held for investment (“LHI”) and $13.0 million in net charge-offs, partially offset by a decrease in criticized loans.
Net interest income was $253.4 million for the second quarter of 2025, compared to $236.0 million for the first quarter of 2025, primarily due to increases in average earning assets and earning asset yields, a decrease in average short-term borrowings and the impact of one additional day in the second quarter. Net interest margin for the second quarter of 2025 was 3.35%, an increase of 16 basis points from the first quarter of 2025. LHI, excluding mortgage finance, yields decreased 4 basis points from the first quarter of 2025 and LHI, mortgage finance, yields increased 49 basis points from the first quarter of 2025. Total cost of deposits was 2.65% for the second quarter of 2025, an 11 basis point decrease from the first quarter of 2025.
Non-interest income for the second quarter of 2025 increased $9.6 million compared to the first quarter of 2025 primarily due to increases in investment banking and advisory fees and trading income, partially offset by a $1.9 million loss on sale of available-for-sale debt securities recognized during the second quarter of 2025.
Non-interest expense for the second quarter of 2025 decreased $12.7 million compared to the first quarter of 2025, primarily due to decreases in salaries and benefits, related to the effect of seasonal payroll expenses that peak in the first quarter, and legal and professional expense, partially offset by an increase in other non-interest expense.
SECOND QUARTER 2025 COMPARED TO SECOND QUARTER 2024
Net income available to common stockholders was $73.0 million, or $1.58 per diluted share, for the second quarter of 2025, compared to $37.4 million, or $0.80 per diluted share, for the second quarter of 2024.
The second quarter of 2025 included a $15.0 million provision for credit losses, reflecting an increase in total LHI and $13.0 million in net charge-offs, partially offset by a decline in criticized loans, compared to a $20.0 million provision for credit losses for the second quarter of 2024.
Net interest income increased to $253.4 million for the second quarter of 2025, compared to $216.6 million for the second quarter of 2024, primarily due to an increase in average earning assets and a decrease in funding costs, partially offset by an increase in average interest bearing liabilities. Net interest margin increased 34 basis points to 3.35% for the second quarter of 2025, as compared to the second quarter of 2024. LHI, excluding mortgage finance, yields decreased 44 basis points compared to the second quarter of 2024 and LHI, mortgage finance yields increased 48 basis points from the second quarter of 2024. Total cost of deposits decreased 34 basis points compared to the second quarter of 2024.
Non-interest income for the second quarter of 2025 increased $3.6 million compared to the second quarter of 2024 primarily due to increases in service charges on deposit accounts, trading income and other non-interest income, partially offset by the loss on sale of available-for-sale debt securities mentioned above.
Non-interest expense for the second quarter of 2025 increased $1.9 million compared to the second quarter of 2024, primarily due to increases in salaries and benefits, occupancy expense and communications and technology expense, partially offset by a decrease in marketing expense.
CREDIT QUALITY
Net charge-offs of $13.0 million were recorded during the second quarter of 2025, compared to net charge-offs of $9.8 million and $12.0 million during the first quarter of 2025 and the second quarter of 2024, respectively. Criticized loans totaled $637.5 million at June 30, 2025, compared to $762.9 million at March 31, 2025 and $859.7 million at June 30, 2024. Non-accrual LHI totaled $113.6 million at June 30, 2025, compared to $93.6 million at March 31, 2025 and $85.0 million at June 30, 2024. The ratio of non-accrual LHI to total LHI for the second quarter of 2025 was 0.47%, compared to 0.42% for the first quarter of 2025 and 0.39% for the second quarter of 2024. The ratio of total allowance for credit losses to total LHI was 1.40% at June 30, 2025, compared to 1.48% and 1.44% at March 31, 2025 and June 30, 2024, respectively.
REGULATORY RATIOS AND CAPITAL
All regulatory ratios continue to be in excess of “well capitalized” requirements as of June 30, 2025. CET1, tier 1 capital, total capital and leverage ratios were 11.4%, 12.9%, 15.3% and 11.8%, respectively, at June 30, 2025, compared to 11.6%, 13.1%, 15.6% and 11.8%, respectively, at March 31, 2025 and 11.6%, 13.1%, 15.7% and 12.2%, respectively, at June 30, 2024. At June 30, 2025, our ratio of tangible common equity to total tangible assets was 10.1%, compared to 10.0% at March 31, 2025 and 9.6% at June 30, 2024.
During the second quarter of 2025, the Company repurchased 317,860 shares of its common stock for an aggregate purchase price, including excise tax expense, of $21.0 million, at a weighted average price of $65.50 per share.
2

About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio, and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities.
Forward Looking Statements
This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans.
Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including recent trade policies and their impact on our customers; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments.


3

TEXAS CAPITAL BANCSHARES, INC.
SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
(dollars in thousands except per share data)
2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
2025 2025 2024 2024 2024
CONSOLIDATED STATEMENTS OF INCOME
Interest income $ 439,567  $ 427,289  $ 437,571  $ 452,533  $ 422,068 
Interest expense 186,172  191,255  207,964  212,431  205,486 
Net interest income 253,395  236,034  229,607  240,102  216,582 
Provision for credit losses 15,000  17,000  18,000  10,000  20,000 
Net interest income after provision for credit losses 238,395  219,034  211,607  230,102  196,582 
Non-interest income 54,069  44,444  54,074  (114,771) 50,424 
Non-interest expense 190,276  203,020  172,159  195,324  188,409 
Income/(loss) before income taxes 102,188  60,458  93,522  (79,993) 58,597 
Income tax expense/(benefit) 24,860  13,411  22,499  (18,674) 16,935 
Net income/(loss) 77,328  47,047  71,023  (61,319) 41,662 
Preferred stock dividends 4,312  4,313  4,312  4,313  4,312 
Net income/(loss) available to common stockholders $ 73,016  $ 42,734  $ 66,711  $ (65,632) $ 37,350 
Diluted earnings/(loss) per common share $ 1.58  $ 0.92  $ 1.43  $ (1.41) $ 0.80 
Diluted common shares 46,215,394  46,616,704  46,770,961  46,608,742  46,872,498 
CONSOLIDATED BALANCE SHEET DATA
Total assets $ 31,943,535  $ 31,375,749  $ 30,731,883  $ 31,629,299  $ 29,854,994 
Loans held for investment 18,035,945  17,654,243  17,234,492  16,764,512  16,700,569 
Loans held for investment, mortgage finance 5,889,589  4,725,541  5,215,574  5,529,659  5,078,161 
Loans held for sale —  —  —  9,022  36,785 
Interest bearing cash and cash equivalents 2,507,691  3,600,969  3,012,307  3,894,537  2,691,352 
Investment securities 4,608,628  4,531,219  4,396,115  4,405,520  4,388,976 
Non-interest bearing deposits 7,718,006  7,874,780  7,485,428  9,070,804  7,987,715 
Total deposits 26,064,309  26,053,034  25,238,599  25,865,255  23,818,327 
Short-term borrowings 1,250,000  750,000  885,000  1,035,000  1,675,000 
Long-term debt 620,256  660,521  660,346  660,172  659,997 
Stockholders’ equity 3,510,070  3,429,774  3,367,936  3,354,044  3,175,601 
End of period shares outstanding 45,746,836  46,024,933  46,233,812  46,207,757  46,188,078 
Book value per share $ 70.17  $ 68.00  $ 66.36  $ 66.09  $ 62.26 
Tangible book value per share(1)
 $ 70.14  $ 67.97  $ 66.32  $ 66.06  $ 62.23 
SELECTED FINANCIAL RATIOS
Net interest margin 3.35  % 3.19  % 2.93  % 3.16  % 3.01  %
Return on average assets 0.99  % 0.61  % 0.88  % (0.78) % 0.56  %
Return on average assets, adjusted(4)
 1.02  % 0.61  % 0.88  % 1.00  % 0.57  %
Return on average common equity 9.17  % 5.56  % 8.50  % (8.87) % 5.26  %
Return on average common equity, adjusted(4)
 9.48  % 5.56  % 8.50  % 10.04  % 5.31  %
Efficiency ratio(2)
 61.9  % 72.4  % 60.7  % 155.8  % 70.6  %
Efficiency ratio, adjusted(2)(4)
 61.1  % 72.4  % 60.7  % 62.3  % 70.4  %
Non-interest income to average earning assets 0.72  % 0.60  % 0.69  % (1.52) % 0.71  %
Non-interest income to average earning assets, adjusted(4)
 0.74  % 0.60  % 0.69  % 0.86  % 0.71  %
Non-interest expense to average earning assets 2.52  % 2.75  % 2.21  % 2.59  % 2.65  %
Non-interest expense to average earning assets, adjusted(4)
 2.50  % 2.75  % 2.21  % 2.52  % 2.65  %
Common equity to total assets 10.1  % 10.0  % 10.0  % 9.7  % 9.6  %
Tangible common equity to total tangible assets(3)
 10.1  % 10.0  % 10.0  % 9.7  % 9.6  %
Common Equity Tier 1 11.4  % 11.6  % 11.4  % 11.2  % 11.6  %
Tier 1 capital 12.9  % 13.1  % 12.8  % 12.6  % 13.1  %
Total capital 15.3  % 15.6  % 15.4  % 15.2  % 15.7  %
Leverage 11.8  % 11.8  % 11.3  % 11.4  % 12.2  %
(1)     Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end.
(2)    Non-interest expense divided by the sum of net interest income and non-interest income.
(3)    Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by total assets, less goodwill and intangibles.
(4)    These adjusted measures are non-GAAP measures. Please refer to “GAAP to Non-GAAP Reconciliations” for the computations of these adjusted measures and the reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.
    
4

TEXAS CAPITAL BANCSHARES, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
June 30,
2025
March 31,
2025
 December 31,
2024		 September 30,
2024		 June 30,
2024
Assets
Cash and due from banks $ 182,451  $ 201,504  $ 176,501  $ 297,048  $ 221,727 
Interest bearing cash and cash equivalents 2,507,691  3,600,969  3,012,307  3,894,537  2,691,352 
Available-for-sale debt securities 3,774,141  3,678,378  3,524,686  3,518,662  3,483,231 
Held-to-maturity debt securities 761,907  779,354  796,168  812,432  831,513 
Equity securities 68,692  71,679  75,261  74,426  74,232 
Trading securities 3,888  1,808  —  —  — 
Investment securities 4,608,628  4,531,219  4,396,115  4,405,520  4,388,976 
Loans held for sale —  —  —  9,022  36,785 
Loans held for investment, mortgage finance 5,889,589  4,725,541  5,215,574  5,529,659  5,078,161 
Loans held for investment 18,035,945  17,654,243  17,234,492  16,764,512  16,700,569 
Less: Allowance for credit losses on loans 277,648  278,379  271,709  273,143  267,297 
Loans held for investment, net 23,647,886  22,101,405  22,178,357  22,021,028  21,511,433 
Premises and equipment, net 86,831  84,575  85,443  81,577  69,464 
Accrued interest receivable and other assets 908,552  854,581  881,664  919,071  933,761 
Goodwill and intangibles, net 1,496  1,496  1,496  1,496  1,496 
Total assets $ 31,943,535  $ 31,375,749  $ 30,731,883  $ 31,629,299  $ 29,854,994 
Liabilities and Stockholders’ Equity
Liabilities:
Non-interest bearing deposits $ 7,718,006  $ 7,874,780  $ 7,485,428  $ 9,070,804  $ 7,987,715 
Interest bearing deposits 18,346,303  18,178,254  17,753,171  16,794,451  15,830,612 
Total deposits 26,064,309  26,053,034  25,238,599  25,865,255  23,818,327 
Accrued interest payable 14,120  25,270  23,680  18,679  23,841 
Other liabilities 484,780  457,150  556,322  696,149  502,228 
Short-term borrowings 1,250,000  750,000  885,000  1,035,000  1,675,000 
Long-term debt 620,256  660,521  660,346  660,172  659,997 
Total liabilities 28,433,465  27,945,975  27,363,947  28,275,255  26,679,393 
Stockholders’ equity:
Preferred stock, $.01 par value, $1,000 liquidation value:
Authorized shares - 10,000,000
Issued shares(1)
 300,000  300,000  300,000  300,000  300,000 
Common stock, $.01 par value:
Authorized shares - 100,000,000
Issued shares(2)
 517  517  515  515  515 
Additional paid-in capital 1,065,083  1,060,028  1,056,719  1,054,614  1,050,114 
Retained earnings 2,611,401  2,538,385  2,495,651  2,428,940  2,494,572 
Treasury stock(3)
 (354,000) (332,994) (301,842) (301,868) (301,868)
Accumulated other comprehensive loss, net of taxes (112,931) (136,162) (183,107) (128,157) (367,732)
Total stockholders’ equity 3,510,070  3,429,774  3,367,936  3,354,044  3,175,601 
Total liabilities and stockholders’ equity $ 31,943,535  $ 31,375,749  $ 30,731,883  $ 31,629,299  $ 29,854,994 
(1) Preferred stock - issued shares
 300,000  300,000  300,000  300,000  300,000 
(2) Common stock - issued shares
 51,747,305  51,707,542  51,520,315  51,494,260  51,474,581 
(3) Treasury stock - shares at cost
 6,000,469  5,682,609  5,286,503  5,286,503  5,286,503 
5

TEXAS CAPITAL BANCSHARES, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands except per share data)
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
Interest income
Interest and fees on loans $ 364,358  $ 345,251  $ 698,508  $ 676,130 
Investment securities 45,991  33,584  92,556  65,728 
Interest bearing cash and cash equivalents 29,218  43,233  75,792  97,588 
Total interest income 439,567  422,068  866,856  839,446 
Interest expense
Deposits 174,798  181,280  349,734  356,880 
Short-term borrowings 3,444  12,749  11,690  25,532 
Long-term debt 7,930  11,457  16,003  25,443 
Total interest expense 186,172  205,486  377,427  407,855 
Net interest income 253,395  216,582  489,429  431,591 
Provision for credit losses 15,000  20,000  32,000  39,000 
Net interest income after provision for credit losses 238,395  196,582  457,429  392,591 
Non-interest income
Service charges on deposit accounts 8,182  5,911  16,022  12,250 
Wealth management and trust fee income 3,730  3,699  7,694  7,266 
Brokered loan fees 2,398  2,131  4,347  4,042 
Investment banking and advisory fees 24,109  25,048  40,587  43,472 
Trading income 7,896  5,650  13,835  10,362 
Available-for-sale debt securities losses (1,886) —  (1,886) — 
Other 9,640  7,985  17,914  14,351 
Total non-interest income 54,069  50,424  98,513  91,743 
Non-interest expense
Salaries and benefits 120,154  118,840  251,795  247,567 
Occupancy expense 12,144  10,666  22,988  20,403 
Marketing 3,624  5,996  8,633  12,032 
Legal and professional 11,069  11,273  26,058  27,468 
Communications and technology 24,314  22,013  47,956  43,127 
Federal Deposit Insurance Corporation insurance assessment 5,096  5,570  10,437  13,991 
Other 13,875  14,051  25,429  26,214 
Total non-interest expense 190,276  188,409  393,296  390,802 
Income before income taxes 102,188  58,597  162,646  93,532 
Income tax expense 24,860  16,935  38,271  25,728 
Net income 77,328  41,662  124,375  67,804 
Preferred stock dividends 4,312  4,312  8,625  8,625 
Net income available to common stockholders $ 73,016  $ 37,350  $ 115,750  $ 59,179 
Basic earnings per common share $ 1.59  $ 0.80  $ 2.52  $ 1.26 
Diluted earnings per common share $ 1.58  $ 0.80  $ 2.49  $ 1.25 
6

TEXAS CAPITAL BANCSHARES, INC.
SUMMARY OF CREDIT LOSS EXPERIENCE
(dollars in thousands)
2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
2025 2025 2024 2024 2024
Allowance for credit losses on loans:
Beginning balance $ 278,379  $ 271,709  $ 273,143  $ 267,297  $ 263,962 
Allowance established for acquired purchase credit deterioration loans —  —  —  2,579  — 
Loans charged-off:
Commercial 13,020  10,197  14,100  6,120  9,997 
Commercial real estate 431  500  2,566  262  2,111 
Consumer —  —  —  30  — 
Total charge-offs 13,451  10,697  16,666  6,412  12,108 
Recoveries:
Commercial 486  483  4,562  329  153 
Commercial real estate —  413  18  —  — 
Consumer —  4  15  —  — 
Total recoveries 486  900  4,595  329  153 
Net charge-offs 12,965  9,797  12,071  6,083  11,955 
Provision for credit losses on loans 12,234  16,467  10,637  9,350  15,290 
Ending balance $ 277,648  $ 278,379  $ 271,709  $ 273,143  $ 267,297 
Allowance for off-balance sheet credit losses:
Beginning balance $ 53,865  $ 53,332  $ 45,969  $ 45,319  $ 40,609 
Provision for off-balance sheet credit losses 2,766  533  7,363  650  4,710 
Ending balance $ 56,631  $ 53,865  $ 53,332  $ 45,969  $ 45,319 
Total allowance for credit losses $ 334,279  $ 332,244  $ 325,041  $ 319,112  $ 312,616 
Total provision for credit losses $ 15,000  $ 17,000  $ 18,000  $ 10,000  $ 20,000 
Allowance for credit losses on loans to total loans held for investment 1.16  % 1.24  % 1.21  % 1.23  % 1.23  %
Allowance for credit losses on loans to average total loans held for investment 1.19  % 1.29  % 1.22  % 1.24  % 1.27  %
Net charge-offs to average total loans held for investment(1)
 0.22  % 0.18  % 0.22  % 0.11  % 0.23  %
Net charge-offs to average total loans held for investment for last 12 months(1)
 0.18  % 0.18  % 0.19  % 0.20  % 0.22  %
Total provision for credit losses to average total loans held for investment(1)
 0.26  % 0.32  % 0.32  % 0.18  % 0.38  %
Total allowance for credit losses to total loans held for investment
1.40  % 1.48  % 1.45  % 1.43  % 1.44  %
(1)Interim period ratios are annualized.
7

TEXAS CAPITAL BANCSHARES, INC.
 NON-PERFORMING ASSETS, PAST DUE LOANS AND CRITICIZED LOANS
(dollars in thousands)
2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
2025 2025 2024 2024 2024
NON-PERFORMING ASSETS
Non-accrual loans held for investment $ 113,609  $ 93,565  $ 111,165  $ 88,960  $ 85,021 
Non-accrual loans held for sale —  —  —  —  — 
Other real estate owned —  —  —  —  — 
Total non-performing assets $ 113,609  $ 93,565  $ 111,165  $ 88,960  $ 85,021 
Non-accrual loans held for investment to total loans held for investment 0.47  % 0.42  % 0.50  % 0.40  % 0.39  %
Total non-performing assets to total assets 0.36  % 0.30  % 0.36  % 0.28  % 0.28  %
Allowance for credit losses on loans to non-accrual loans held for investment 2.4x 3.0x 2.4x 3.1x 3.1x
Total allowance for credit losses to non-accrual loans held for investment 2.9x 3.6x 2.9x 3.6x 3.7x
LOANS PAST DUE
Loans held for investment past due 90 days and still accruing
 $ 2,068  $ 791  $ 4,265  $ 5,281  $ 286 
Loans held for investment past due 90 days to total loans held for investment 0.01  % —  % 0.02  % 0.02  % —  %
Loans held for sale past due 90 days and still accruing
 $ —  $ —  $ —  $ —  $ 64 
CRITICIZED LOANS
Criticized loans $ 637,462  $ 762,887  $ 713,951  $ 897,727  $ 859,671 
Criticized loans to total loans held for investment 2.66  % 3.41  % 3.18  % 4.03  % 3.95  %
Special mention loans $ 339,923  $ 484,165  $ 435,626  $ 579,802  $ 593,305 
Special mention loans to total loans held for investment 1.42  % 2.16  % 1.94  % 2.60  % 2.72  %


8

TEXAS CAPITAL BANCSHARES, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands)
2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter
2025 2025 2024 2024 2024
Interest income
Interest and fees on loans $ 364,358  $ 334,150  $ 340,388  $ 361,407  $ 345,251 
Investment securities 45,991  46,565  44,102  38,389  33,584 
Interest bearing deposits in other banks 29,218  46,574  53,081  52,737  43,233 
Total interest income 439,567  427,289  437,571  452,533  422,068 
Interest expense
Deposits 174,798  174,936  189,061  190,255  181,280 
Short-term borrowings 3,444  8,246  10,678  13,784  12,749 
Long-term debt 7,930  8,073  8,225  8,392  11,457 
Total interest expense 186,172  191,255  207,964  212,431  205,486 
Net interest income 253,395  236,034  229,607  240,102  216,582 
Provision for credit losses 15,000  17,000  18,000  10,000  20,000 
Net interest income after provision for credit losses 238,395  219,034  211,607  230,102  196,582 
Non-interest income
Service charges on deposit accounts 8,182  7,840  6,989  6,307  5,911 
Wealth management and trust fee income 3,730  3,964  4,009  4,040  3,699 
Brokered loan fees 2,398  1,949  2,519  2,400  2,131 
Investment banking and advisory fees 24,109  16,478  26,740  34,753  25,048 
Trading income 7,896  5,939  5,487  5,786  5,650 
Available-for-sale debt securities losses (1,886) —  —  (179,581) — 
Other 9,640  8,274  8,330  11,524  7,985 
Total non-interest income 54,069  44,444  54,074  (114,771) 50,424 
Non-interest expense
Salaries and benefits 120,154  131,641  97,873  121,138  118,840 
Occupancy expense 12,144  10,844  11,926  12,937  10,666 
Marketing 3,624  5,009  4,454  5,863  5,996 
Legal and professional 11,069  14,989  15,180  11,135  11,273 
Communications and technology 24,314  23,642  24,007  25,951  22,013 
Federal Deposit Insurance Corporation insurance assessment 5,096  5,341  4,454  4,906  5,570 
Other 13,875  11,554  14,265  13,394  14,051 
Total non-interest expense 190,276  203,020  172,159  195,324  188,409 
Income/(loss) before income taxes 102,188  60,458  93,522  (79,993) 58,597 
Income tax expense/(benefit) 24,860  13,411  22,499  (18,674) 16,935 
Net income/(loss) 77,328  47,047  71,023  (61,319) 41,662 
Preferred stock dividends 4,312  4,313  4,312  4,313  4,312 
Net income/(loss) available to common shareholders $ 73,016  $ 42,734  $ 66,711  $ (65,632) $ 37,350 

9

TEXAS CAPITAL BANCSHARES, INC.
TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1)
(dollars in thousands)
2nd Quarter 2025 1st Quarter 2025 2nd Quarter 2024 YTD June 30, 2025 YTD June 30, 2024
Average
Balance		 Income/
Expense		 Yield/
Rate		 Average
Balance		 Income/
Expense		 Yield/
Rate		 Average
Balance		 Income/
Expense		 Yield/
Rate		 Average
Balance		 Income/
Expense		 Yield/
Rate		 Average
Balance		 Income/
Expense		 Yield/
Rate
Assets
Investment securities(2)
 $ 4,573,164  $ 45,999  3.93  % $ 4,463,876  $ 46,565  4.10  % $ 4,427,023  $ 33,584  2.80  % $ 4,518,822  $ 92,564  4.01  % $ 4,363,195  $ 65,728  2.79  %
Interest bearing cash and cash equivalents 2,661,037  29,218  4.40  % 4,255,796  46,574  4.44  % 3,273,069  43,233  5.31  % 3,454,011  75,792  4.43  % 3,662,348  97,588  5.36  %
Loans held for sale —  —  —  % 335  2  2.97  % 28,768  683  9.55  % 167  2  2.97  % 39,966  1,867  9.40  %
Loans held for investment, mortgage finance 5,327,559  58,707  4.42  % 3,972,106  38,527  3.93  % 4,357,288  42,722  3.94  % 4,653,577  97,234  4.21  % 3,937,498  74,177  3.79  %
Loans held for investment(3)
 18,018,626  306,142  6.81  % 17,527,070  296,091  6.85  % 16,750,788  301,910  7.25  % 17,774,206  602,233  6.83  % 16,636,438  600,216  7.26  %
Less: Allowance for credit losses on loans
 278,035  —  —  % 272,758  —  —  263,145  —  —  % 275,411  —  —  256,541  —  — 
Loans held for investment, net 23,068,150  364,849  6.34  % 21,226,418  334,618  6.39  % 20,844,931  344,632  6.65  % 22,152,372  699,467  6.37  % 20,317,395  674,393  6.68  %
Total earning assets 30,302,351  440,066  5.80  % 29,946,425  427,759  5.76  % 28,573,791  422,132  5.86  % 30,125,372  867,825  5.78  % 28,382,904  839,576  5.87  %
Cash and other assets 1,117,118  1,157,184  1,177,061  1,137,040  1,117,763 
Total assets $ 31,419,469  $ 31,103,609  $ 29,750,852  $ 31,262,412  $ 29,500,667 
Liabilities and Stockholders’ Equity
Transaction deposits $ 2,213,037  $ 13,731  2.49  % $ 2,163,250  $ 13,908  2.61  % $ 2,061,622  $ 16,982  3.31  % $ 2,188,282  $ 27,639  2.55  % $ 2,034,057  $ 33,840  3.35  %
Savings deposits 13,727,095  134,272  3.92  % 13,357,243  133,577  4.06  % 11,981,668  143,173  4.81  % 13,543,190  267,849  3.99  % 11,695,673  279,963  4.81  %
Time deposits 2,361,525  26,795  4.55  % 2,329,384  27,451  4.78  % 1,658,899  21,125  5.12  % 2,345,543  54,246  4.66  % 1,689,112  43,077  5.13  %
Total interest bearing deposits 18,301,657  174,798  3.83  % 17,849,877  174,936  3.97  % 15,702,189  181,280  4.64  % 18,077,015  349,734  3.90  % 15,418,842  356,880  4.65  %
Short-term borrowings 306,176  3,444  4.51  % 751,500  8,246  4.45  % 927,253  12,749  5.53  % 527,608  11,690  4.47  % 919,670  25,532  5.58  %
Long-term debt 649,469  7,930  4.90  % 660,445  8,073  4.96  % 778,401  11,457  5.92  % 654,927  16,003  4.93  % 818,955  25,443  6.25  %
Total interest bearing liabilities 19,257,302  186,172  3.88  % 19,261,822  191,255  4.03  % 17,407,843  205,486  4.75  % 19,259,550  377,427  3.95  % 17,157,467  407,855  4.78  %
Non-interest bearing deposits 8,191,402  7,875,244  8,647,594  8,034,196  8,642,685 
Other liabilities 475,724  552,154  537,754  513,728  523,520 
Stockholders’ equity 3,495,041  3,414,389  3,157,661  3,454,938  3,176,995 
Total liabilities and stockholders’ equity $ 31,419,469  $ 31,103,609  $ 29,750,852  $ 31,262,412  $ 29,500,667 
Net interest income
 $ 253,894  $ 236,504  $ 216,646  $ 490,398  $ 431,721 
Net interest margin 3.35  % 3.19  % 3.01  % 3.27  % 3.02  %
(1)    Taxable equivalent rates used where applicable.
(2)    Yields on investment securities are calculated using available-for-sale securities at amortized cost.
(3)    Average balances include non-accrual loans.

10

GAAP TO NON-GAAP RECONCILIATIONS
The following items are non-GAAP financial measures: adjusted non-interest income, adjusted non-interest expense, adjusted net income, adjusted net income available to common stockholders, adjusted pre-provision net revenue (“PPNR”), adjusted diluted earnings/(loss) per common share, adjusted return on average assets, adjusted return on average common equity, adjusted efficiency ratio, adjusted non-interest income to average earning assets and adjusted non-interest expense to average earning assets. These are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The table below provides a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures.
These non-GAAP financial measures are adjusted for certain items, listed below, that management believes are non-operating in nature and not representative of its actual operating performance. Management believes that these non-GAAP financial measures provide meaningful additional information about Texas Capital Bancshares, Inc. to assist management and investors in evaluating operating results, financial strength, business performance and capital position. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. As such, these non-GAAP financial measures should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP.
Reconciliation of Non-GAAP Financial Measures
(dollars in thousands except per share data) 2nd Quarter
2025		 1st Quarter
2025		 4th Quarter
2024		 3rd Quarter
2024		 2nd Quarter
2024
Net interest income $ 253,395  $ 236,034  $ 229,607  $ 240,102  $ 216,582 
Non-interest income 54,069  44,444  54,074  (114,771) 50,424 
Available-for-sale debt securities losses, net 1,886  —  —  179,581  — 
Non-interest income, adjusted 55,955  44,444  54,074  64,810  50,424 
Non-interest expense 190,276  203,020  172,159  195,324  188,409 
FDIC special assessment —  —  —  651  (462)
Restructuring expenses (1,401) —  —  (5,923) — 
Non-interest expense, adjusted 188,875  203,020  172,159  190,052  187,947 
Provision for credit losses 15,000  17,000  18,000  10,000  20,000 
Income tax expense/(benefit) 24,860  13,411  22,499  (18,674) 16,935 
Tax effect of adjustments 774  —  —  44,880  104 
Income tax expense/(benefit), adjusted 25,634  13,411  22,499  26,206  17,039 
Net income/(loss)(1)
 $ 77,328  $ 47,047  $ 71,023  $ (61,319) $ 41,662 
Net income/(loss), adjusted(1)
 $ 79,841  $ 47,047  $ 71,023  $ 78,654  $ 42,020 
Preferred stock dividends 4,312  4,313  4,312  4,313  4,312 
Net income/(loss) to common stockholders(2)
 $ 73,016  $ 42,734  $ 66,711  $ (65,632) $ 37,350 
Net income/(loss) to common stockholders, adjusted(2)
 $ 75,529  $ 42,734  $ 66,711  $ 74,341  $ 37,708 
PPNR(3)
 $ 117,188  $ 77,458  $ 111,522  $ (69,993) $ 78,597 
PPNR(3), adjusted
 $ 120,475  $ 77,458  $ 111,522  $ 114,860  $ 79,059 
Weighted average common shares outstanding, diluted 46,215,394  46,616,704  46,770,961  46,608,742  46,872,498 
Diluted earnings/(loss) per common share $ 1.58  $ 0.92  $ 1.43  $ (1.41) $ 0.80 
Diluted earnings/(loss) per common share, adjusted $ 1.63  $ 0.92  $ 1.43  $ 1.59  $ 0.80 
Average total assets $ 31,419,469  $ 31,103,609  $ 32,212,087  $ 31,215,173  $ 29,750,852 
Return on average assets 0.99  % 0.61  % 0.88  % (0.78) % 0.56  %
Return on average assets, adjusted 1.02  % 0.61  % 0.88  % 1.00  % 0.57  %
Average common equity
 $ 3,195,041  $ 3,114,389  $ 3,120,933  $ 2,945,238  $ 2,857,661 
Return on average common equity 9.17  % 5.56  % 8.50  % (8.87) % 5.26  %
Return on average common equity, adjusted 9.48  % 5.56  % 8.50  % 10.04  % 5.31  %
Efficiency ratio(4)
 61.9  % 72.4  % 60.7  % 155.8  % 70.6  %
Efficiency ratio, adjusted(4)
 61.1  % 72.4  % 60.7  % 62.3  % 70.4  %
Average earning assets $ 30,302,351  $ 29,946,425  $ 31,033,803  $ 29,975,318  $ 28,573,791 
Non-interest income to average earning assets 0.72  % 0.60  % 0.69  % (1.52) % 0.71  %
Non-interest income to average earning assets, adjusted 0.74  % 0.60  % 0.69  % 0.86  % 0.71  %
Non-interest expense to average earning assets 2.52  % 2.75  % 2.21  % 2.59  % 2.65  %
Non-interest expense to average earning assets, adjusted 2.50  % 2.75  % 2.21  % 2.52  % 2.65  %
(1)     Net interest income plus non-interest income, less non-interest expense, provision for credit losses and income tax expense/(benefit). On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted, provision for credit losses and income tax expense/(benefit), adjusted.
(2)    Net income/(loss), less preferred stock dividends. On an adjusted basis, net income/(loss), adjusted, less preferred stock dividends.
(3)    Net interest income plus non-interest income, less non-interest expense. On an adjusted basis, net interest income plus non-interest income, adjusted, less non-interest expense, adjusted.
(4)    Non-interest expense divided by the sum of net interest income and non-interest income. On an adjusted basis, non-interest expense, adjusted, divided by the sum of net interest income and non-interest income, adjusted.
11
EX-99.2 3 a2q2025_earningsxpresent.htm EX-99.2 EARNINGS PRESENTATION a2q2025_earningsxpresent
© 2025 Texas Capital Bank Member FDIC July 17, 2025 Q2-2025 Earnings

 
2 Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans. Because forward-looking statements relate to future results and occurrences, they are subject to inherent and various uncertainties, risks, and changes in circumstances that are difficult to predict, may change over time, are based on management’s expectations and assumptions at the time the statements are made and are not guarantees of future results. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward- looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors, including recent trade policies and their impact on our customers; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global or other geopolitical conflicts, or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. The information contained in this communication speaks only as of its date. Except to the extent required by applicable law or regulation, we disclaim any obligation to update such factors or to publicly announce the results of any revisions to any of the forward- looking statements included herein to reflect future events or developments.

 
3 Foundational Tenants of Value Creation in Place Financial Priorities Described 9/1/2021 Building Tangible Book Value // Reinvesting organically generated capital to improve client relevance and create a more valuable franchise Investment // Re-aligning the expense base to directly support the business and investing aggressively to take advantage of market opportunities that we are uniquely positioned to serve Revenue Growth // Growing top- line revenue as a result of expanded banking capabilities for best-in-class clients in our Texas and national markets Flagship Results Proactive, disciplined engagement with the best clients in our markets to provide the talent, products, and offerings they need through their entire life-cycles Structurally higher, more sustainable earnings driving greater performance and lower annual variability Consistent communication, enhanced accountability, and a bias for action ensure execution and delivery Commitment to financial resilience allowing us to serve clients, access markets, and support communities through all cycles Higher quality earnings and a lower cost of capital drive a significant expansion in incremental shareholder returns

 
4 Targets Estab. in ’21 Where We StartedTargets Estab. in ’21 Where We Started YTD 2025 Q2 2025 Q1 2025 FY 2024 FY 2020Performance Metrics YTD 2025 FY 2024 FY 2023 FY 2022 FY 2021 FY 2020Income Statement >1.10%0.80%0.99%0.61%0.25%0.18%Return on Average Assets~10%9.3%13.6%8.0%2.9%2.7%2.2% Investment Banking and Trading Income (% of Total Revenue) >12.5%7.4%9.2%5.6% 2.0% 2.1%Return on Average Tangible Common Equity3~5%3.8%3.8%2.8%2.4%2.5%1.4%Treasury Product Fees1 (% of Total Revenue) >1.10%0.82%1.02%0.61%0.74%0.33%Adj. Return on Average Assets415%–20% 16.8%3.3%15.0%28.5%15.2%19.3%Non-Interest Income (% of Total Revenue) >12.5%7.6%9.5%5.6%7.1%4.2%Adj. Return on Average Tangible Common Equity315%–20%17.0%18.9%15.0%10.3%13.4%11.2%Adj. Non-Interest Income2 (% of Adj. Total Revenue2) >10%11.4%11.4%11.6%11.4%9.4%CET1Balance Sheet >20%26%28%30%30%38%29%Average Cash & Securities (% of Total Average Assets) <15%6%7%7%16%27%36%Average Indexed Deposits (% of Total Deposits) 2021 Strategic Performance Drivers Treasury Solutions Private Wealth Investment Banking YoY GrowthQ2 ‘25Q1 ‘25Q4 ‘24Q3 ‘24Q2 ‘24Financial Performance 3%$4.1 $3.8 $4.0$4.1$4.0Assets Under Management5 ($bn) 37%$11.6 $10.6 $9.5 $9.1 $8.5 Treasury Product Fees1 ($mm) 1%$3.7 $4.0 $4.0 $4.0 $3.7 Wealth Management & Trust Fee Income ($mm) 4%$32.0 $22.4 $32.2 $40.5 $30.7 Investment Banking & Trading Income ($mm) 10%$47.3 $37.0 $45.7 $53.7 $42.9 Income from Areas of Focus ($mm)  Treasury product fees increased at fastest pace since ’21, to $11.6mm, the 4th consecutive record quarter  Interest bearing deposits excl. brokered deposits grew $358mm during the quarter  Q2 results driven by improved capital markets and sales and trading fees; additional Equities capabilities onboarding  Depth, quality, and size of pipelines consistent with expectations to drive significant fee growth in 2H25  Assets under management increased 8% QoQ from accelerated client adoption of improved platform  Clients increasingly benefitting from broad range of investment, cash management, and credit solutions

 
5 Q2 2025Q2 2024Non-GAAP4 Adjustments ($mm) 54.150.4Non-Interest Income 1.90.0Loss on AFS Securities Sale 56.050.4Non-Interest Income, Adj. 190.3188.4Non-Interest Expense 0.0(0.5)FDIC Special Assessment (1.4)0.0Restructuring Expenses 0.00.0Legal Settlement 188.9187.9Non-Interest Expense, Adj. Financial Performance // Income Statement Adjusted (Non-GAAP4) Adjusted (Non-GAAP4) Adjusted (Non-GAAP4) Adjusted (Non-GAAP4)Financial Highlights ($mm) Q2 2025Q2 2025Q1 2025Q2 2024Q2 2024YTD 2025YTD 202520242024 $253.4 $253.4 236.0 $216.6 $216.6 $489.4 $489.4 901.3 901.3 Net Interest Income 56.0 54.1 44.4 50.4 50.4 100.4 98.5 210.6 31.0 Non-Interest Revenue 309.4 307.5 280.5 267.0 267.0 589.8 587.9 1,111.9 932.3 Total Revenue 188.9 190.3 203.0 187.9 188.4 391.9 393.3 742.5 758.3 Non-Interest Expense 120.5 117.2 77.5 79.1 78.6 197.9 194.6 369.4 174.1 PPNR6 15.0 15.0 17.0 20.0 20.0 32.0 32.0 67.0 67.0 Provision for Credit Losses 25.6 24.9 13.4 17.0 16.9 39.0 38.3 76.8 29.6 Income Tax Expense 79.8 77.3 47.0 42.0 41.7 126.9 124.4 225.6 77.5 Net Income 4.3 4.3 4.3 4.3 4.3 8.6 8.6 17.3 17.3 Preferred Stock Dividends 75.5 73.0 42.7 37.7 37.4 118.3 115.8 208.3 60.3 Net Income to Common Performance Metrics 1.02% 0.99% 0.61% 0.57% 0.56% 0.82% 0.80% 0.74% 0.25% Return on Average Assets 1.54% 1.50% 1.01% 1.07% 1.06% 1.28% 1.26% 1.21% 0.57% PPNR6 / Average Assets 61.1% 61.9% 72.4% 70.4% 70.6% 66.4% 66.9% 66.8% 81.3% Efficiency Ratio7 9.5% 9.2% 5.6% 5.3% 5.3% 7.6% 7.4% 7.0% 2.0% Return on Average Common Equity $1.63 $1.58 $0.92 $0.80 $0.80 $2.55$2.49 $4.43 $1.28 Earnings Per Share YTD 20252024Non-GAAP4 Adjustments ($mm) 98.531.0Non-Interest Income 1.9179.6Loss on AFS Securities Sale 100.4210.6Non-Interest Income, Adj. 393.3758.3Non-Interest Expense 0.0(2.8)FDIC Special Assessment (1.4)(7.9)Restructuring Expenses 0.0(5.0)Legal Settlement 391.9742.5Non-Interest Expense, Adj.

 
6 Balance Sheet Highlights ($mm) Ending Balances YoYQoQQ2 2025Q1 2025Q2 2024 Assets (8%)(29%)2,690 3,802 2,913 Cash and Equivalents 5% 2% 4,609 4,531 4,389 Total Securities 13% 5% 11,931 11,404 10,534 Commercial Loans (0%)(3%)5,665 5,824 5,689 CRE Loans (3%)4% 541 521 558 Consumer Loans 16% 25% 5,890 4,726 5,078 Mortgage Finance Loans 10% 7% 24,026 22,475 21,859 Gross LHI 4% (0%)(278)(278)(267)Allowance for Credit Losses on Loans 7% 2% 31,944 31,376 29,855 Total Assets Financial Performance // Quarterly Balance Sheet Highlights Performance Metrics 23% 27% 24% Cash & Securities % of Assets 50% 51% 48% Commercial Loans % of Gross LHI (334)(332)(313)Total Allowance for Credit Losses ($mm) 1.40% 1.48% 1.44% Total ACL / Total LHI YoYQoQQ2 2025Q1 2025Q2 2024 Liabilities (3%)(2%)7,718 7,875 7,988 Non-Interest Bearing Deposits 16% 1% 18,346 18,178 15,831 Interest Bearing Deposits 9% 0% 26,064 26,053 23,818 Total Deposits (25%)67% 1,250 750 1,675 FHLB Borrowings 7% 2% 28,433 27,946 26,679 Total Liabilities Equity 2% 2% 3,323 3,266 3,243 Common Equity, Excl. AOCI (69%)(17%)(113)(136)(368)AOCI 11% 2% 3,510 3,430 3,176 Total Shareholder’s Equity (1%)(1%)45,746,836 46,024,933 46,188,078 Common Shares Outstanding 92% 86% 91% Total LHI % of Deposits 30% 30% 34% Non-Interest Bearing % of Deposits $70.17 $68.00 $62.26 Book Value Per Share $70.14 $67.97 $62.23 Tangible Book Value Per Share8

 
7 $4.7 $3.9 $3.5 $4.4 $5.2 $5.4 $4.0 $5.3 $4.4 $4.0 $4.2 $5.1 $5.5 $5.2 $4.7 $5.9 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $5.7 $5.3 $5.6 $5.8 $5.7 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $10.5 $11.0 $11.1 $11.4 $11.9 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025  Total LHI excl. mortgage finance increased $1.3bn or 8% YoY  Ending period commercial loans increased $526mm or 5% QoQ  Growth driven by sustained new client acquisition across the platform  Average commercial loans increased $399mm or 4% QoQ  Period end growth in commercial loans of $1.4bn or 13% YoY  Commercial real estate loans declined $159mm or 3% QoQ due to increased payoffs during the quarter  Multifamily comprises $2.3bn or 41% of CRE loans  Average mortgage finance loans increased 34% QoQ to $5.3bn as expected in the seasonally strong Q2 Loan Portfolio Composition Mortgage Finance Loans ($bn) Commercial Loans ($bn) Commercial Real Estate Loans ($bn) Average Period End

 
8 2.99% 2.94% 2.81% 2.76% 2.65% 2.83% 2.76% 2.61% 2.54% 2.41% 4.64% 4.64% 4.32% 3.97% 3.83% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $3.4 $3.5 $3.5 $3.4 $3.4 $3.5 $5.2 $6.0 $5.8 $4.5 $4.8 $4.2 $15.1 $15.8 $16.9 $17.4 $18.0 $18.1 $0.6 $0.5 $0.5 $0.5 $0.3 $0.2 $24.3 $25.7 $26.7 $25.7 $26.5 $26.1 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2025 Q2 2025 EOP Deposit and Funding Composition  Total deposit balances were flat QoQ  Total deposits excl. MF9 non-interest bearing deposits and brokered interest bearing deposits increased $3.0bn or 16% YoY  Non-interest bearing, excl. MF9 deposits increased $211mm or 6% YoY to $3.5bn  Average MF9 non-interest bearing deposits declined $384mm YoY to $4.8bn, representing 91% of average mortgage finances loans in Q2 2025 compared to 120% in Q2 of last year  The majority of MF9 non-interest bearing deposits are compensated through relationship pricing which results in application of an interest credit to either the client’s mortgage finance or commercial loan yield  Average cost of interest bearing deposits declined 14bps to 3.83%  Cumulative beta of 81% since the beginning of the current easing cycle Average Deposit Trends ($bn) Period End Deposit Flows ($mm) Funding Costs QoQ Change %$Q2 ‘25Q1 ‘25Q2 ‘24 (5%)(182)3,534 3,716 3,323 Non-Interest Bearing, Excl. MF9 1% 25 4,184 4,159 4,665 MF9 Non-Interest Bearing (2%)(157)7,718 7,875 7,988 Total Non-Interest Bearing 2% 358 18,140 17,782 15,307 Interest Bearing (48%)(190)206 396 524 Brokered Deposits 1% 168 18,346 18,178 15,831 Total Interest Bearing 0% $11 $26,064 $26,053 $23,818 Total Deposits Avg Cost of Total Deposits Total Cost of Funds Avg Cost of Int. Bearing Deposits Non-Interest Bearing, Excl. MF9 MF9 Non-Interest Bearing Interest Bearing Interest Bearing Brokered

 
9 (12.2%) (12.0%) (6.1%) (5.9%) 3.8% 3.8% 7.4% 7.4% (10.0%) (8.0%) (6.0%) (4.0%) (2.0%) 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% Q1 2025 Q2 2025 -200bps Shock -100bps Shock +100bps Shock +200bps Shock Net Interest Income Sensitivity Standard Model Assumptions10 100bp & 200bp Parallel Shocks  Loan Balances: Static  Deposit Balances: Static  Loan Spreads: Current Levels  Up Scenario Int. Bearing Deposit Beta: ~80%  Down Scenario Int. Bearing Deposit Beta: ~70%  Investment Portfolio: Ratio held constant Hedging Profile Net Interest Income Sensitivity – Static Balance Sheet ($mm) $1,123mm$989mmBase NII11 Earning Assets Profile (Average) Q2 2025Q1 2025 YieldBalance ($mm)YieldBalance ($mm) 4.40% $2,661 4.44% $4,256 Interest Bearing Cash and Equivalents 3.93% 4,573 4.10% 4,464 Securities ----2.97% 0 Loans Held for Sale 6.81% 18,019 6.85% 17,527 LHI Excl. Mortgage Finance LHI 4.42% 5,328 3.93% 3,972 Mortgage Finance LHI --(278)--(273)ACL on Loans 5.80% $30,302 5.76% $29,946 Earning Assets  94% of LHI excl. mortgage finance LHI are variable rate  $1.1bn of loans, or 6%, are fixed with 12% maturing or repricing in the next 12 months  Sold $282.3mm of available for sale securities with a book yield of 3.1% in the quarter for a pre-tax loss of $1.9mm  Reinvested proceeds into available for sale securities with a yield of 5.4%  Loan hedges reduced interest income by $8.4mm in Q2 compared to $8.7mm in Q1 Impacts of Mortgage Finance  Mortgage finance LHI represents 23% of the average total LHI portfolio with the majority tied to 1-month SOFR which was flat in Q2  Given the current outlook and observed seasonality, the average mortgage finance self funding ratio is expected to stay near 90% in Q3  Firm’s overall net interest income sensitivity (per the chart above) is inclusive of mortgage finance NII impact on a flat balance sheet and does not account for changes in warehouse volumes in either a lower or higher rate environment $73 $38 ($60) ($121) $83 $42 ($66) ($135) Receive Rate Average Notional Balance ($bn) 3.43%2.4Q2 2025 3.18%1.5Q3 2025 3.58%0.8Q4 2025 3.64%0.6Q1 2026 3.83%0.4Q2 2026 3.83%0.4Q3 2026 3.83%0.4Q4 2026

 
10 $118.8 $118.7 $97.9 $131.6 $118.8 $69.1 $71.3 $74.3 $71.4 $70.1 $0.5 $5.3 $1.4 $188.4 $195.3 $172.2 $203.0 $190.3 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $50.4 ($114.8) $54.1 $44.4 $54.1 $64.8 $56.0 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $216.6 $240.1 $229.6 $236.0 $253.4 3.01% 3.16% 2.93% 3.19% 3.35% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 $236.0 $7.8 $2.2 $14.8 $5.4 $0.0 ($17.9) ($4.3) $4.4 $4.9 $253.4 Q1 2025 Loans Excl MF Volume Loans Excl MF Yield MF Loan Volume MF Yield Loan Fees Investment Securities & Cash Interest Bearing Deposits Volume Interest Bearing Deposit Cost Borrowings Q2 2025 63% 60% 57% 65% Q2-2025 Earnings Overview Net Interest Margin ($mm)Net Interest Income ($mm) Non-Interest Income ($mm) Non-Interest Expense ($mm) 62%  Net interest income increased $17.4mm QoQ supported by continued LHI growth and further reduction in funding costs  Net interest margin expanded by 16bps QoQ, and 34 bps YoY  Quarterly adjusted non-interest expense4 increased $0.9mm YoY to $188.9mm, reflecting continued repositioning of the expense base in support of defined growth objectives 9 9 9 9 37% % of Total Revenue, Adj.4 19% 21% 19% 16% 18% 0% 37% 3% 1% 43% Net Interest Income Net Interest Margin Salaries & Benefits Other NIE Non-Recurring Items4Non-Interest Income Non-Interest Income, Adj.4 37% 35%

 
11 80% 73% 79% 80% 92% 19% 26% 20% 20% 8% 1% 1% 1% $266.4 $317.9 $278.3 $278.7 $297.5 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 52% 75% 70% 71% 64% 48% 25% 30% 28% 34% 1% 2% $593.3 $579.8 $435.6 $484.2 $339.9 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 0.28% 0.28% 0.36% 0.30% 0.36% 0.23% 0.11% 0.22% 0.18% 0.22% 3.95% 4.03% 3.18% 3.41% 2.66% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 3.7x 3.6x 2.9x 1.44% 1.48% 1.40% 1.84% 1.85% 1.79% Q2 2024 Q1 2025 Q2 2025 Asset Quality Trends Allowance for Credit Loss Reserve Ratios Asset Quality Ratios Special Mention Composition ($mm) Substandard Composition ($mm) $13.0$9.8$12.1 $6.1 $12.0 Net Charge-Offs ($mm) Total ACL / Non- accrual Loans HFI  Total ACL increased $2.0mm QoQ to $334.3mm, an all-time high for the firm  Total ACL, excl. MF9 declined $3.2mm to $323.6mm  Total ACL, excl. MF9 to LHI, excl. MF9 in the top decile among Peers12 Total ACL to LHI ratio  $13.0mm of net charge-offs, 0.22% of average LHI, primarily related to previously identified problem credits  Provision expense as a percentage of average LHI of 26bps  Provision expense as a percentage of average LHI excl. MF of 33bps  Criticized LHI declined $222.2mm or 26% YoY, with the percentage of total LHI declining 129bps to 2.66%  Special mention LHI declined $144.3mm or 30% linked quarter  Non-Accrual loans HFI increased $20.0mm QoQ  Total ACL remains strong at 2.9x non-accrual loans HFI Commercial Mortgage Finance Real Estate ConsumerCommercial Mortgage Finance Real Estate Consumer Total ACL / LHI Total ACL, Excl. MF9 / LHI Excl. MF9 Q2 2024 Q1 2025 Q2 2025 Criticized / LHI NPAs / Total Assets NCOs / Avg. LHI

 
12 11.62% 11.19% 11.38% 11.63% 11.45% >11.00% 1.47% 1.44% 1.44% 1.46% 1.41% 2.56% 2.54% 2.55% 2.51% 2.44% 15.65% 15.17% 15.37% 15.61% 15.30% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 2025 Target $62.23 $66.06 $66.32 $67.97 $70.14 $62.26 $66.09 $66.36 $68.00 $70.17 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 9.63% 9.65% 9.98% 9.97% 10.04% 9.63% 9.66% 9.98% 9.98% 10.05% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Tangible Common Equity / Tangible Assets13 Common Equity / Total Assets 2025 YE Target Capital Position and Trends  Regulatory capital ratios remain strong  Total capital ratio of 15.30%, in the top quartile of the peer group12, and CET1 ratio of 11.45%  Tangible common equity / tangible assets13 ended the quarter at 10.04%, an important characteristic of our financially resilient business model and a key metric as we manage the balance sheet through- cycle  Tangible common equity / tangible assets13 in top quintile of peer group12  Tangible book value per share8 increased by $2.17 or 3% QoQ as a result of income generated, share repurchase activity and AOCI accretion  TBVPS8 of $70.14 is an all-time high for the Firm  Repurchased 318 thousand shares in Q2, 0.7% of year end 2024 shares outstanding, for a total of $21mm at a weighted average price of approximately 96% of prior month tangible book value per share  $148mm remaining on the 2025 authorization at the end of Q2 Regulatory Capital Levels Tangible Common Equity / Tangible Assets13 Period End AOCI ($mm) ($113)($136)($183)($128)($368) AOCI per Share ($2.47)($2.96)($3.96)($2.77)($7.96) Peer12 Tangible Common Equity / Tangible Assets13 8.25%8.10%8.01%7.59% CET1 Tier 1 Capital Tier 2 Capital Tangible Book Value per Share8 Book Value per Share Tangible Book Value per Share8

 
13 Full Year 2025 Guidance FY 2024 Adjusted (Non-GAAP4) Low double-digit % growth$1,111.9mmTotal Revenue, Adjusted4 Mid to high single-digit % growth$742.5mmNon-Interest Expense, Adjusted4 30bps - 35bps40bpsProvisions / Avg LHI, Excl. Mortgage Finance LHI >11%11.38%CET1 Ratio Full Year 2025 Guidance  Forward curve14 assumes 25bps cut in September with an exit rate of 4.25% at year end 2025  Assumes a 25bps cut in January 2026  Total Revenue, Adjusted4 guidance remains unchanged  Non-Interest Expense, Adjusted4 guidance decreased from high single- digit percent annual growth  Provisions / Average LHI, Excl. Mortgage Finance LHI guidance remains unchanged  CET1 Ratio target guidance remains unchanged  Tax rate expected to be ~25% for the full year in 2025  Achievement of a quarterly 1.10% ROAA in the second half of 2025 Guidance Commentary

 
14 1. Includes service charges on deposit accounts, as well as fees related to our commercial card program, merchant transactions, and FX transactions, all of which are included in other non-interest income and totaled $2.8mm for FY 2020, $4.0mm for FY 2021, $6.1mm for FY 2022, $9.4mm for FY 2023, $10.2mm for FY 2024, and $6.1mm for YTD 2025 and $2.5mm, $2.8mm, $2.5mm, $2.8mm, and $3.4 for Q2 2024, Q3 2024, Q4 2024, Q1 2025, and Q2 2025 respectively 2. Non-GAAP Reconciliation // Adjusted Non-Interest Income and Total Revenue 3. See slide: Non-GAAP Reconciliation // Return on Average Tangible Common Equity (ROATCE) 4. See slide: Non-GAAP Reconciliation // Adjusted Earnings & Ratios 5. Assets Under Management includes non-discretionary brokerage assets that the Firm earns wealth management and trust fee income on 6. “PPNR” used as an abbreviation for Pre-Provision Net Revenue which is the sum of net interest income and non-interest income, less non-interest expense 7. Non-interest expense divided by the sum of net interest income and non-interest income 8. Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by shares outstanding at period end 9. “MF” used as abbreviation for Mortgage Finance 10. Model assumptions are only for Q2 2025; See prior TCBI Earnings Materials for prior model assumptions 11. Baseline scenarios hold constant balances, market rates, and assumptions as of period end reporting 12. Major exchange traded US peer banks with $20-100bn in total assets, excluding PR headquartered banks and merger targets; Source: S&P Capital IQ Pro; peer data as of Q1 2025 13. Stockholders’ equity excluding preferred stock, less goodwill and intangibles, divided by total assets, less goodwill and intangibles 14. Forward curve as of June 4, 2025 YTD 2025 ($mm)2024 ($mm)2023 ($mm)2022 ($mm)2021 ($mm)2020 ($mm) Adjusted3As Reported Adjusted3As Reported Adjusted As Reported Adjusted2As Reported Adjusted1As Reported Adjusted1As Reported $489.4 $489.4 $901.3 $901.3 $914.1 $914.1 $875.8 $875.8 $767.6 $768.8 $821.1 $851.3 Net Interest Income 100.4 98.5 210.6 31.0 161.4 161.4 101.0 349.5 119.5 138.3 103.7 203.0 Non-Interest Income $589.8 $587.9 $1,111.9 $932.3 $1,075.5 $1,075.5 $976.8 $1,225.3 $887.1 $907.1 $924.8 $1,054.3 Total Revenue 17.0%16.8%18.9%3.3%15.0%15.0%10.3%28.5%13.4%15.2%11.2%19.3%Non-Interest Income % of Total Revenue 1) Adjusted to remove revenue contribution of exited Correspondent Lending Line of Business 2) Adjusted to remove non-recurring gain on sale of Insurance Premium Finance Loan Portfolio 3) Adjusted to remove non-recurring loss on sale of AFS securities Appendix // Footnotes

 
15 2025 ($mm)2024 ($mm)2023 ($mm)2022 ($mm)2021 ($mm)2020 ($mm) Adjusted1As Reported Adjusted1As Reported Adjusted1As Reported Adjusted1As Reported Adjusted1As Reported Adjusted1As Reported $118.3 $115.8 $208.3 $60.3 $187.1$171.9$159.5$315.2$244.5$235.2$112.6$56.5Net Income to Common $3,154.9 $3,154.9 $2,955.5 $2,955.5 $2,795.0$2,795.0$2,783.3$2,783.3$2,815.7$2,815.7$2,686.7$2,686.7Average Common Equity 1.5 1.5 1.5 1.5 1.51.514.514.517.417.417.917.9Less: Average Goodwill & Intangibles $3,153.4 $3,153.4 $2,954.0 $2,954.0 $2,793.5$2,793.5$2,768.8$2,768.8$2,798.3$2,798.3$2,668.8$2,668.8Average Tangible Common Equity 7.6%7.4%7.0%2.0%6.7%6.2%5.7%11.3%8.7%8.4%4.2%2.1%ROACE 7.6%7.4%7.1%2.0%6.7%6.2%5.8%11.4%8.7%8.4%4.2%2.1%ROATCE Non-GAAP Reconciliation // Return on Average Tangible Common Equity (ROATCE) ROATCE is a non-GAAP financial measure. ROATCE represents the measure of net income available to common shareholders as a percentage of average tangible common equity. ROATCE is used by management in assessing financial performance and use of equity. A reconcilement of ROATCE to the most directly comparable U.S. GAAP measure, ROACE, for all periods is presented below. (1) See slide Non-GAAP Reconciliation // Adjusted Earnings & Ratios

 
16 Non-GAAP Reconciliation // Adjusted Earnings & Ratios Adjusted line items are non-GAAP financial measures that management believes aids in the discussion of results. A reconcilement of these adjusted items to the most directly comparable U.S. GAAP measures for all periods is presented below. Periods not presented below did not have adjustments. YTD 2025FY 2024 FY 2023 FY 2022 FY 2021 FY 2020 Q2 2025 Q3 2024 Q2 2024($mm, Except per Share) $489.4 $901.3 $914.1 $875.8 $768.8 $851.3 $253.4 $240.1 $216.6 Net Interest Income $98.5 31.0 161.4 349.5 138.3 203.0 54.1 (114.8)50.4 Non-Interest Revenue Adjustments for Non-Recurring Items: ---(248.5)-----Gain on Sale of Insur. Prem. Finance 1.9 179.6 ----1.9 179.6-Loss on AFS Securities Sale 100.4 210.6 161.4 101.0 138.3 203.056.0 64.8 50.4 Non-Interest Revenue, Adjusted $393.3 758.3 756.9 727.5 599.0 704.4 190.3 195.3 188.4 Non-Interest Expense Adjustments: ---(29.6)-(17.8)---Transaction Costs (1.4)(7.9)-(9.8)(12.0)(54.0)(1.4)(5.9)-Restructuring Expense -(5.0)-------Legal Settlement ---(8.0)-----Charitable Contribution -(2.8)(19.9)----0.7 (0.5)FDIC Special Assessment 391.9 742.5 737.1 680.1 587.0 632.6 188.9 190.1 187.9 Non-Interest Expense, Adjusted 194.6 174.1 318.6 497.8 308.1 349.9 117.2 (70.0)78.6 PPNR6 197.9 369.4 338.5 296.6 320.1 421.7 120.5 114.9 79.1 PPNR6, Adjusted $32.0 67.0 72.0 66.0 (30.0)258.0 15.0 10.0 20.0 Provision for Credit Losses $38.3 29.6 57.5 99.3 84.1 25.7 24.9 (18.7)16.9 Income Tax Expenses 0.8 47.2 4.6 (45.4)2.7 15.6 0.8 44.9 0.1 Tax Impact of Adjustments Above 39.0 76.8 62.1 53.9 86.8 41.3 25.6 26.2 17.0 Income Tax Expenses, Adjusted 124.4 77.5 189.1 332.5 253.9 66.3 77.3 (61.3)41.7 Net Income 126.9 225.6 204.4 176.8 263.2 122.4 79.8 78.7 42.0 Net Income, Adjusted $8.6 17.3 17.3 17.3 18.7 9.8 4.3 4.3 4.3 Preferred Stock Dividends 115.8 60.3 171.9 315.2 235.2 56.5 73.0 (65.6)37.4 Net Income to Common 118.3 208.3 187.1 159.5 244.5 112.6 75.5 74.3 37.7 Net Income to Common, Adjusted $31,262.4 $30,613.2 $29,537.3 $32,049.8 $38,140.3 $37,516.2 $31,419.5 $31,215.2 $29,750.9 Average Assets 0.80% 0.25% 0.64%1.04%0.67%0.18%0.99% (0.78%)0.56% Return on Average Assets 0.82% 0.74% 0.69%0.55%0.69%0.33%1.02% 1.00% 0.57% Return on Average Assets, Adjusted 1.26% 0.57% 1.08%1.55%0.81%0.93%1.50% (0.89%)1.06% PPNR6 / Average Assets 1.28% 1.21% 1.15%0.93%0.84%1.12%1.54% 1.46% 1.07% PPNR6, Adjusted / Average Assets $3,154.9 $2,955.5 $2,795.0 $2,783.3 $2,815.7 $2,686.7 $3,195.0 $2,945.2 $2,857.7 Average Common Equity 7.40% 2.04% 6.15%11.33%8.35%2.10%9.17% (8.87%)5.26% Return on Average Common Equity 7.56% 7.05% 6.70%5.73%8.68%4.19%9.48% 10.04% 5.31% Return on Average Common Equity, Adjusted 46,403,11646,989,204 48,610,206 51,046,742 51,140,974 50,582,979 46,215,394 46,608,742 46,872,498 Diluted Common Shares $2.49 $1.28 $3.54 $6.18 $4.60 $1.12 $1.58 ($1.41)$0.80 Earnings per Share $2.55 $4.43 $3.85 $3.13 $4.78 $2.23 $1.63 $1.59 $0.80 Earnings per Share, Adjusted