tcbi-20230118

Exhibit 99.1


						INVESTOR CONTACT
						Jocelyn Kukulka, 469.399.8544
						[email protected]

						MEDIA CONTACT
						Julia Monter, 469.399.8425
						[email protected]

TEXAS CAPITAL BANCSHARES, INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2022 RESULTS

Fourth quarter 2022 net income of $217.3 million and net income available to common

stockholders of $212.9 million, or $4.23 per diluted share

Repurchased $65.3 million shares of common stock at tangible book value

Completed the sale of BankDirect Capital Finance, LLC recognizing $248.5 million pre-tax gain on sale

Record level regulatory capital ratios, including 13.0% CET 1 and 17.7% Total Capital

DALLAS - January 18, 2023 - Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced operating results for the fourth quarter and full year of 2022.

Net income available to common stockholders was $212.9 million, or $4.23 per diluted share, for the fourth quarter of 2022, compared to $37.1 million, or $0.74 per diluted share, for the third quarter of 2022 and $60.8 million, or $1.19 per diluted share, for the fourth quarter of 2021. The fourth quarter of 2022 included a $248.5 million ($3.83 per diluted share) gain and $13.0 million ($-0.20 per diluted share) in expenses related to the sale of the Company’s insurance premium finance subsidiary, BankDirect Capital Finance, LLC (“BDCF”), $9.8 million ($-0.15 per diluted share) in restructuring reserves related to the continued deployment of our target operating model and $8.0 million ($-0.12 per diluted share) in charitable contributions to the newly formed Texas Capital Bank Foundation.

“The quarterly financial results coupled with the strategic and transformative actions taken during 2022 position the Firm to execute on the unique opportunity in front of us, while serving the best clients in the best markets,” said Rob C. Holmes, President and CEO. “The financial resilience created over the last two years by the aggregate, focused actions taken have built the foundation of the Firm which will be our strategic advantage allowing us to both support our clients during times of market stress while delivering financial progress to all of our stakeholders.”


FINANCIAL RESULTS
(dollars and shares in thousands)
	4th Quarter			3rd Quarter			4th Quarter			Full Year			Full Year
	2022			2022			2021			2022			2021
OPERATING RESULTS
Net income	$	217,251		$	41,418		$	65,130		$	332,478		$	253,939
Net income available to common stockholders	$	212,939		$	37,105		$	60,817		$	315,228		$	235,218
Diluted earnings per common share	$	4.23		$	0.74		$	1.19		$	6.18		$	4.60
Diluted common shares	50,283			50,418			51,208			51,047			51,141
Return on average assets	2.80		%	0.52		%	0.69		%	1.04		%	0.67		%
Return on average common equity	30.66		%	5.36		%	8.36		%	11.33		%	8.35		%

BALANCE SHEET
Loans held for investment	$	15,197,307		$	14,878,959		$	15,331,457
Loans held for investment, mortgage finance	4,090,033			4,908,822			7,475,497
Total loans held for investment	19,287,340			19,787,781			22,806,954
Loans held for sale	36,357			3,142,178			8,123
Total assets	28,414,642			30,408,513			34,731,738
Non-interest bearing deposits	9,618,081			11,494,685			13,390,370
Total deposits	22,856,880			24,498,563			28,109,365
Stockholders’ equity	3,055,351			2,885,775			3,209,616

FOURTH QUARTER 2022 COMPARED TO THIRD QUARTER 2022

For the fourth quarter of 2022, net income available to common stockholders was $212.9 million, or $4.23 per diluted share, compared to $37.1 million, or $0.74 per diluted share, for the third quarter of 2022.

Provision for credit losses for the fourth quarter of 2022 was $34.0 million, compared to a $12.0 million provision for credit losses for the third quarter of 2022. The $34.0 million provision for credit losses recorded in the fourth quarter of 2022 resulted primarily from increases in net charge-offs, criticized loans and loans held for investment (“LHI”), excluding mortgage finance.

Net interest income was $247.6 million for the fourth quarter of 2022, compared to $239.1 million for the third quarter of 2022. The increase in net interest income was primarily due to an increase in yields on earning assets, partially offset by a decline in total average loans and an increase in funding costs. Net interest margin for the fourth quarter of 2022 was 3.26%, an increase of 21 basis points from the third quarter of 2022. LHI, excluding mortgage finance, yields increased 115 basis points from the third quarter of 2022 and LHI, mortgage finance yields increased 9 basis points from the third quarter of 2022. Total cost of deposits was 1.53% for the fourth quarter of 2022, a 60 basis point increase from the third quarter of 2022.

Non-interest income for the fourth quarter of 2022 increased $252.3 million, compared to the third quarter of 2022, primarily due to a $248.5 million gain recognized on the sale of our insurance premium finance subsidiary as well as an increase in investment banking and trading income.

Non-interest expense for the fourth quarter of 2022 increased $16.0 million, or 8%, compared to the third quarter of 2022. Fourth quarter expenses included $13.0 million in legal and professional expense related to the sale of BDCF, restructuring reserves of $9.8 million, primarily related to occupancy expense, reflecting the expected costs of the continued implementation of the Company’s target operating model and $8.0 million in charitable contributions to the newly formed Texas Capital Bank Foundation recorded in other non-interest expense. Third quarter expenses included $3.1 million in legal and professional expense and $13.7 million in salaries and benefits expense related to the sale of BDCF.

FOURTH QUARTER 2022 COMPARED TO FOURTH QUARTER 2021

Net income available to common stockholders was $212.9 million, or $4.23 per diluted share, for the fourth quarter of 2022, compared to $60.8 million, or $1.19 per diluted share, for the fourth quarter of 2021.

The fourth quarter of 2022 included a $34.0 million provision for credit losses, resulting primarily from updated views on the downside risks to the economic forecast and an increase in net charge-offs, compared to a $10.0 million negative provision for credit losses for the fourth quarter of 2021.

Net interest income increased to $247.6 million for the fourth quarter of 2022, compared to $194.0 million for the fourth quarter of 2021, primarily due to an increase in yields on average earning assets, partially offset by an increase in funding costs. Net interest margin increased 114 basis points to 3.26% for the fourth quarter of 2022, as compared to the fourth quarter of 2021. LHI, excluding mortgage finance, yields increased 251 basis points compared to the fourth quarter of 2021 and LHI, mortgage finance yields increased 114 basis points from the fourth quarter of 2021. Total cost of deposits increased 134 basis points compared to the fourth quarter of 2021.

Non-interest income for the fourth quarter of 2022 increased $246.2 million, compared to the fourth quarter of 2021. The increase was primarily due to a $248.5 million gain recognized on the sale of BDCF, as well as an increase in investment banking and trading income, partially offset by a decrease in brokered loan fees.

Non-interest expense for the fourth quarter of 2022 increased $66.4 million, or 45%, compared to the fourth quarter of 2021. The fourth quarter of 2022 included $13.0 million in legal and professional expense related to the sale of BDCF, restructuring reserves totaling $9.8 million and charitable contributions of $8.0 million, all of which are discussed above. Also contributing to the increase in non-interest expense was an increase in salaries and benefits expense, resulting from an increase in headcount as compared to the fourth quarter of 2021.

CREDIT QUALITY

Net charge-offs of $15.0 million were recorded during the fourth quarter of 2022, as expected losses on certain legacy credits have moved closer to resolution, compared to net charge-offs of $2.7 million and $1.0 million during the third quarter of 2022 and the fourth quarter of 2021, respectively. Criticized loans totaled $513.2 million at December 31, 2022, compared to $484.0 million at September 30, 2022 and $582.9 million at December 31, 2021. Non-accrual LHI totaled $48.3 million at December 31, 2022, compared to $35.9 million at September 30, 2022 and $72.5 million at December 31, 2021. The ratio of non-accrual LHI to total LHI for the fourth quarter of 2022 was 0.25%, compared to 0.18% for the third quarter of 2022 and 0.32% for the fourth quarter of 2021. The ratio of total allowance for credit losses to total LHI was 1.43% at December 31, 2022, compared to 1.30% and 1.00% at September 30, 2022 and December 31, 2021, respectively,

REGULATORY RATIOS AND CAPITAL

All regulatory ratios continue to be in excess of “well capitalized” requirements as of December 31, 2022. Our CET 1, tier 1 capital, total capital and leverage ratios were 13.0%, 14.7%, 17.7% and 11.5%, respectively, at December 31, 2022, compared to 11.1%,

12.6%, 15.2% and 10.7%, respectively, at September 30, 2022 and 11.1%, 12.6%, 15.3% and 9.0% at December 31, 2021. At December 31, 2022, our ratio of tangible common equity to total tangible assets was 9.7%, compared to 8.5% at September 30, 2022 and 8.3% at December 31, 2021.

During the fourth quarter of 2022, the Company repurchased 1,141,239 shares of its common stock for an aggregate purchase price of $65.3 million, at a weighted average price of $57.20 per share. On January 18, 2023, the Company’s board of directors authorized a new share repurchase program under which the Company may repurchase up to $150.0 million in shares of our outstanding common stock.

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, 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 Bank 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, 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. Several 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. These factors include, but are not limited to, credit quality and risk, the unpredictability of economic and business conditions that may impact TCBI or its customers, the COVID-19 pandemic, the Company’s ability to effective manage its liquidity risk and any growth plans and the availability of capital and funding, the Company’s ability to effectively manage information technology systems, cyber incidents or other failures, disruptions or security breaches, interest rates, commercial and residential real estate values, adverse or unexpected economic conditions, including inflation, recession, the threat of recession, and market conditions in Texas, the United States or globally, including governmental and consumer responses to those economic and market conditions, fund availability, accounting estimates and risk management processes, the transition away from the London Interbank Offered Rate (LIBOR), legislative and regulatory changes, ratings or interpretations, business strategy execution, the failure to identify, attract and retain key personnel, increased or expanded competition from banks and other financial service providers in TCBI’s markets, the failure to maintain adequate regulatory capital, environmental liability associated with properties related to TCBI’s lending activities, and severe weather, natural disasters, acts of war, terrorism, global conflict or other external events, climate change and related legislative and regulatory initiatives.

These and other factors that could cause actual results for TCBI on a consolidated basis to differ materially from those described in the forward-looking statements, including a discussion of the risks and uncertainties that may affect TCBI’s business, can be found in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in 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.


TEXAS CAPITAL BANCSHARES, INC.
SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
(dollars in thousands except per share data)
	4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			4th Quarter
	2022			2022			2022			2022			2021
CONSOLIDATED STATEMENTS OF INCOME
Interest income	$	371,287		$	322,071		$	242,349		$	208,530		$	219,892
Interest expense	123,687			82,991			36,818			24,983			25,860
Net interest income	247,600			239,080			205,531			183,547			194,032
Provision for credit losses	34,000			12,000			22,000			(2,000)			(10,000)
Net interest income after provision for credit losses	213,600			227,080			183,531			185,547			204,032
Non-interest income	277,672			25,333			26,242			20,282			31,459
Non-interest expense	213,090			197,047			164,303			153,092			146,649
Income before income taxes	278,182			55,366			45,470			52,737			88,842
Income tax expense	60,931			13,948			11,311			13,087			23,712
Net income	217,251			41,418			34,159			39,650			65,130
Preferred stock dividends	4,312			4,313			4,312			4,313			4,313
Net income available to common stockholders	$	212,939		$	37,105		$	29,847		$	35,337		$	60,817
Diluted earnings per common share	$	4.23		$	0.74		$	0.59		$	0.69		$	1.19
Diluted common shares	50,282,663			50,417,884			50,801,628			51,324,027			51,208,161

CONSOLIDATED BALANCE SHEET DATA
Total assets	$	28,414,642		$	30,408,513		$	32,338,963		$	31,085,377		$	34,731,738
Loans held for investment	15,197,307			14,878,959			17,517,866			15,849,434			15,331,457
Loans held for investment, mortgage finance	4,090,033			4,908,822			6,549,507			5,827,965			7,475,497
Loans held for sale	36,357			3,142,178			4,266			8,085			8,123
Interest bearing cash and cash equivalents	4,778,623			3,399,638			4,032,931			5,136,680			7,765,996
Investment securities	3,585,114			3,369.622			3,552.699			3,642,015			3,583,808
Non-interest bearing deposits	9,618,081			11,494,685			12,555,367			13,434,723			13,390,370
Total deposits	22,856,880			24,498,563			25,440,021			25,377,938			28,109,365
Short-term borrowings	1,201,142			1,701,480			2,651,536			1,427,033			2,202,832
Long-term debt	931,442			930,766			917,098			929,414			928,738
Stockholders’ equity	3,055,351			2,885,775			3,006,832			3,090,038			3,209,616

End of period shares outstanding	48,783,763			49,897,726			49,878,041			50,710,441			50,618,494
Book value per share	$	56.48		$	51.82		$	54.27		$	55.02		$	57.48
Tangible book value per share(1)	$	56.45		$	51.48		$	53.93		$	54.68		$	57.14

SELECTED FINANCIAL RATIOS
Net interest margin	3.26		%	3.05		%	2.68		%	2.23		%	2.12		%
Return on average assets	2.80		%	0.52		%	0.44		%	0.47		%	0.69		%
Return on average common equity	30.66		%	5.36		%	4.35		%	4.97		%	8.36		%
Non-interest income to average earning assets	3.70		%	0.33		%	0.34		%	0.25		%	0.34		%
Efficiency ratio(2)	40.6		%	74.5		%	70.9		%	75.1		%	65.0		%
Non-interest expense to average earning assets	2.84		%	2.53		%	2.16		%	1.86		%	1.60		%
Common equity to total assets	9.7		%	8.5		%	8.4		%	9.0		%	8.4		%
Tangible common equity to total tangible assets(3)	9.7		%	8.5		%	8.3		%	8.9		%	8.3		%
Common Equity Tier 1	13.0		%	11.1		%	10.5		%	11.5		%	11.1		%
Tier 1 capital	14.7		%	12.6		%	11.9		%	13.0		%	12.6		%
Total capital	17.7		%	15.2		%	14.4		%	15.7		%	15.3		%
Leverage	11.5		%	10.7		%	10.7		%	9.9		%	9.0		%

(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.


TEXAS CAPITAL BANCSHARES, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
	December 31, 2022		December 31, 2021		% Change
Assets
Cash and due from banks	$	233,637	$	180,663	29	%
Interest bearing cash and cash equivalents	4,778,623		7,765,996		(38)	%
Available-for-sale debt securities	2,615,644		3,538,201		(26)	%
Held-to-maturity debt securities	935,514		—		100	%
Equity securities	33,956		45,607		(26)	%
Investment securities	3,585,114		3,583,808		—	%
Loans held for sale	36,357		8,123		N/M
Loans held for investment, mortgage finance	4,090,033		7,475,497		(45)	%
Loans held for investment	15,197,307		15,331,457		(1)	%
Less: Allowance for credit losses on loans	253,469		211,866		20	%
Loans held for investment, net	19,033,871		22,595,088		(16)	%

Premises and equipment, net	26,382		20,901		26	%
Accrued interest receivable and other assets	719,162		559,897		28	%
Goodwill and intangibles, net	1,496		17,262		(91)	%
Total assets	$	28,414,642	$	34,731,738	(18)	%

Liabilities and Stockholders’ Equity
Liabilities:
Non-interest bearing deposits	$	9,618,081	$	13,390,370	(28)	%
Interest bearing deposits	13,238,799		14,718,995		(10)	%
Total deposits	22,856,880		28,109,365		(19)	%
Accrued interest payable	24,000		7,699		N/M
Other liabilities	345,827		273,488		26	%
Short-term borrowings	1,201,142		2,202,832		(45)	%
Long-term debt	931,442		928,738		—	%
Total liabilities	25,359,291		31,522,122		(20)	%

Stockholders’ equity:
Preferred stock, $.01 par value, $1,000 liquidation value:
Authorized shares - 10,000,000
Issued shares - 300,000 shares issued at December 31, 2022 and 2021	300,000		300,000		—	%
Common stock, $.01 par value:
Authorized shares - 100,000,000
Issued shares - 50,867,298 and 50,618,911 at December 31, 2022 and 2021, respectively	509		506		1	%
Additional paid-in capital	1,025,593		1,008,559		2	%
Retained earnings	2,263,502		1,948,274		16	%
Treasury stock - 2,083,535 and 417 shares at cost at December 31, 2022 and 2021, respectively	(115,310)		(8)		N/M
Accumulated other comprehensive loss, net of taxes	(418,943)		(47,715)		N/M
Total stockholders’ equity	3,055,351		3,209,616		(5)	%
Total liabilities and stockholders’ equity	$	28,414,642	$	34,731,738	(18)	%


TEXAS CAPITAL BANCSHARES, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands except per share data)
	Three Months Ended December 31,				Twelve Months Ended December 31,
	2022		2021		2022		2021
Interest income
Interest and fees on loans	$	295,367	$	204,379	$	983,787	$	820,532
Investment securities	16,210		11,780		63,179		42,820
Interest bearing cash and cash equivalents	59,710		3,733		97,271		13,233
Total interest income	371,287		219,892		1,144,237		876,585
Interest expense
Deposits	96,150		14,513		190,663		65,507
Short-term borrowings	13,449		771		29,077		4,613
Long-term debt	14,088		10,576		48,739		37,628
Total interest expense	123,687		25,860		268,479		107,748
Net interest income	247,600		194,032		875,758		768,837
Provision for credit losses	34,000		(10,000)		66,000		(30,000)
Net interest income after provision for credit losses	213,600		204,032		809,758		798,837
Non-interest income
Service charges on deposit accounts	5,150		4,702		22,876		18,674
Wealth management and trust fee income	3,442		3,793		15,036		13,173
Brokered loan fees	2,655		5,678		14,159		27,954
Servicing income	180		277		857		15,513
Investment banking and trading income	11,937		6,456		35,054		24,441
Net gain/(loss) on sale of loans held for sale	(990)		—		(990)		1,317
Gain on disposal of subsidiary	248,526		—		248,526		—
Other	6,772		10,553		14,011		37,158
Total non-interest income	277,672		31,459		349,529		138,230
Non-interest expense
Salaries and benefits	103,490		89,075		436,809		350,930
Occupancy expense	17,030		8,769		44,222		33,232
Marketing	10,623		4,286		32,388		10,006
Legal and professional	37,493		12,673		75,858		41,152
Communications and technology	20,434		16,490		69,253		75,185
Federal Deposit Insurance Corporation insurance assessment	3,092		4,688		14,344		21,027
Servicing-related expenses	—		25		—		27,765

Other	20,928		10,643		54,658		39,715
Total non-interest expense	213,090		146,649		727,532		599,012
Income before income taxes	278,182		88,842		431,755		338,055
Income tax expense	60,931		23,712		99,277		84,116
Net income	217,251		65,130		332,478		253,939
Preferred stock dividends	4,312		4,313		17,250		18,721
Net income available to common stockholders	$	212,939	$	60,817	$	315,228	$	235,218

Basic earnings per common share	$	4.28	$	1.20	$	6.25	$	4.65
Diluted earnings per common share	$	4.23	$	1.19	$	6.18	$	4.60


TEXAS CAPITAL BANCSHARES, INC.
SUMMARY OF CREDIT LOSS EXPERIENCE
(dollars in thousands)
	4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			4th Quarter
	2022			2022			2022			2022			2021
Allowance for credit losses on loans:
Beginning balance	$	234,613		$	229,013		$	211,151		$	211,866		$	221,957
Loans charged-off:
Commercial	14,404			232			2,868			110			3,776
Energy	2,702			2,903			—			—			—
Real estate	—			—			—			350			—
Total charge-offs	17,106			3,135			2,868			460			3,776
Recoveries:
Commercial	133			113			219			217			1,933
Energy	1,974			289			—			755			601
Real estate	—			—			—			—			205
Total recoveries	2,107			402			219			972			2,739
Net charge-offs	14,999			2,733			2,649			(512)			1,037
Provision for credit losses on loans	33,855			8,333			20,511			(1,227)			(9,054)
Ending balance	$	253,469		$	234,613		$	229,013		$	211,151		$	211,866

Allowance for off-balance sheet credit losses:
Beginning balance	$	21,648		$	17,981		$	16,492		$	17,265		$	18,211
Provision for off-balance sheet credit losses	145			3,667			1,489			(773)			(946)
Ending balance	$	21,793		$	21,648		$	17,981		$	16,492		$	17,265

Total allowance for credit losses	$	275,262		$	256,261		$	246,994		$	227,643		$	229,131
Total provision for credit losses	$	34,000		$	12,000		$	22,000		$	(2,000)		$	(10,000)

Allowance for credit losses on loans to total loans held for investment	1.31		%	1.19		%	0.95		%	0.97		%	0.93		%
Allowance for credit losses on loans to average total loans held for investment	1.31		%	1.06		%	1.02		%	0.99		%	0.91		%
Net charge-offs to average total loans held for investment(1)	0.31		%	0.05		%	0.05		%	(0.01)		%	0.02		%
Net charge-offs to average total loans held for investment for last 12 months(1)	0.09		%	0.03		%	0.03		%	0.03		%	0.06		%
Total provision for credit losses to average total loans held for investment(1)	0.70		%	0.22		%	0.39		%	(0.04)		%	(0.17)		%
Total allowance for credit losses to total loans held for investment	1.43		%	1.30		%	1.03		%	1.05		%	1.00		%

(1)Interim period ratios are annualized.


TEXAS CAPITAL BANCSHARES, INC.
SUMMARY OF NON-PERFORMING ASSETS AND PAST DUE LOANS
(dollars in thousands)
	4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			4th Quarter
	2022			2022			2022			2022			2021
Non-accrual loans held for investment	$	48,338		$	35,864		$	50,526		$	59,327		$	72,502
Non-accrual loans held for sale(1)	—			1,340			—			—			—
Other real estate owned	—			—			—			—			—
Total non-performing assets	$	48,338		$	37,204		$	50,526		$	59,327		$	72,502

Non-accrual loans held for investment to total loans held for investment	0.25		%	0.18		%	0.21		%	0.27		%	0.32		%
Total non-performing assets to total assets	0.17		%	0.12		%	0.16		%	0.19		%	0.21		%
Allowance for credit losses on loans to non-accrual loans held for investment	5.2x			6.5x			4.5x			3.6x			2.9x


Loans held for investment past due 90 days and still accruing	$	131		$	30,664		$	3,206		$	6,031		$	3,467
Loans held for investment past due 90 days to total loans held for investment	—		%	0.15		%	0.01		%	0.03		%	0.02		%
Loans held for sale past due 90 days and still accruing(1)(2)	$	—		$	4,877		$	1,602		$	3,865		$	3,986

(1)Third quarter 2022 includes $1.3 million in non-accrual loans and $3.1 million in loans past due 90 days and still accruing associated to our insurance premium finance subsidiary that were transferred from loans held for investment to loans held for sale as of September 30, 2022.

(2)Includes loans guaranteed by U.S. government agencies that were repurchased out of Ginnie Mae securities. Loans are recorded as loans held for sale and carried at fair value on the balance sheet. Interest on these past due loans accrues at the debenture rate guaranteed by the U.S. government.


TEXAS CAPITAL BANCSHARES, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands)

	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter		4th Quarter
	2022		2022		2022		2022		2021
Interest income
Interest and fees on loans	$	295,367	$	282,473	$	218,290	$	187,657	$	204,379
Investment securities	16,210		15,002		14,665		17,302		11,780
Interest bearing deposits in other banks	59,710		24,596		9,394		$	3,571	$	3,733
Total interest income	371,287		322,071		242,349		208,530		219,892
Interest expense
Deposits	96,150		60,317		20,566		13,630		14,513
Short-term borrowings	13,449		10,011		4,859		758		771
Long-term debt	14,088		12,663		11,393		10,595		10,576
Total interest expense	123,687		82,991		36,818		24,983		25,860
Net interest income	247,600		239,080		205,531		183,547		194,032
Provision for credit losses	34,000		12,000		22,000		(2,000)		(10,000)
Net interest income after provision for credit losses	213,600		227,080		183,531		185,547		204,032
Non-interest income
Service charges on deposit accounts	5,150		5,701		6,003		6,022		4,702
Wealth management and trust fee income	3,442		3,631		4,051		3,912		3,793
Brokered loan fees	2,655		3,401		4,133		3,970		5,678
Servicing income	180		212		228		237		277
Investment banking and trading income	11,937		7,812		11,126		4,179		6,456
Net gain/(loss) on sale of loans held for sale	(990)		—		—		—		—
Gain on disposal of subsidiary	248,526		—		—		—		—
Other	6,772		4,576		701		1,962		10,553
Total non-interest income	277,672		25,333		26,242		20,282		31,459
Non-interest expense
Salaries and benefits	103,490		129,336		103,885		100,098		89,075
Occupancy expense	17,030		9,433		8,874		8,885		8,769
Marketing	10,623		8,282		8,506		4,977		4,286
Legal and professional	37,493		16,775		11,288		10,302		12,673
Communications and technology	20,434		18,470		15,649		14,700		16,490
Federal Deposit Insurance Corporation insurance assessment	3,092		3,953		3,318		3,981		4,688
Servicing-related expenses	—		—		—		—		25
Other	20,928		10,798		12,783		10,149		10,643
Total non-interest expense	213,090		197,047		164,303		153,092		146,649
Income before income taxes	278,182		55,366		45,470		52,737		88,842
Income tax expense	60,931		13,948		11,311		13,087		23,712
Net income	217,251		41,418		34,159		39,650		65,130
Preferred stock dividends	4,312		4,313		4,312		4,313		4,313
Net income available to common shareholders	$	212,939	$	37,105	$	29,847	$	35,337	$	60,817


TEXAS CAPITAL BANCSHARES, INC.
TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1)
(dollars in thousands)
	4th Quarter 2022						3rd Quarter 2022						2nd Quarter 2022						1st Quarter 2022						4th Quarter 2021
	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)	$	3,385,372	$	16,210	1.70	%	$	3,509,044	$	15,002	1.58	%	$	3,543,576	$	15,065	1.60	%	$	3,669,257	$	17,743	1.91	%	$	3,608,503	$	12,225	1.34	%
Interest bearing cash and cash equivalents	6,158,769		59,710		3.85	%	4,453,806		24,596		2.19	%	4,747,377		9,394		0.79	%	8,552,300		3,571		0.17	%	9,760,735		3,733		0.15	%
Loans held for sale	1,053,157		12,064		4.54	%	1,029,983		11,316		4.36	%	8,123		62		3.07	%	7,633		113		6.01	%	8,348		51		2.41	%
Loans held for investment, mortgage finance	4,279,367		43,708		4.05	%	5,287,531		52,756		3.96	%	5,858,599		49,914		3.42	%	5,732,901		43,466		3.07	%	7,901,534		57,949		2.91	%
Loans held for investment(3)	15,105,083		239,741		6.30	%	16,843,922		218,512		5.15	%	16,616,234		168,407		4.07	%	15,686,319		144.134		3.73	%	15,348,322		146,436		3.79	%
Less: Allowance for credit losses on loans	233,246		—		—		229,005		—		—		211,385		—		—		212,612		—		—		223,034		—		—
Loans held for investment, net	19,151,204		283,449		5.87	%	21,902,448		271,268		4.91	%	22,263,448		218,321		3.93	%	21,206,608		187,600		3.59	%	23,026,822		204,385		3.52	%
Total earning assets	29,748,502		371,433		4.89	%	30,895,281		322,182		4.10	%	30,562,524		242,842		3.16	%	33,435,798		209.027		2.54	%	36,404,408		220,394		2.40	%
Cash and other assets	989,900						918,630						870,396						819,486						835,293
Total assets	$	30,738,402					$	31,813,911					$	31,432,920					$	34,255,284					$	37,239,701

Liabilities and Stockholders’ Equity
Transaction deposits	$	1,105,466	$	4,977	1.79	%	$	1,444,964	$	5,239	1.44	%	$	1,671,729	$	3,920	0.94	%	$	2,432,687	$	3,962	0.66	%	$	3,007,337	$	4,664	0.62	%
Savings deposits	10,563,049		80,801		3.03	%	10,249,387		46,555		1.80	%	8,696,819		15,462		0.71	%	10,420,545		8,583		0.33	%	10,529,645		8,419		0.32	%
Time deposits	1,625,857		10,372		2.53	%	1,701,238		8,523		1.99	%	877,399		1,184		0.54	%	1,038,722		1,085		0.42	%	1,276,800		1,430		0.44	%
Total interest bearing deposits	13,294,372		96,150		2.87	%	13,395,589		60,317		1.79	%	11,245,947		20,566		0.73	%	13,891,954		13,630		0.40	%	14,813,782		14,513		0.39	%
Short-term borrowings	1,387,660		13,449		3.84	%	1,931,537		10,011		2.06	%	2,232,119		4,859		0.87	%	1,770,781		758		0.17	%	2,267,013		771		0.13	%
Long-term debt	931,107		14,088		6.00	%	921,707		12,663		5.45	%	929,616		11,393		4.92	%	929,005		10,595		4.63	%	928,307		10,576		4.52	%
Total interest bearing liabilities	15,613,139		123,687		3.14	%	16,248,833		82,991		2.03	%	14,407,682		36,818		1.02	%	16,591,740		24,983		0.61	%	18,009,102		25,860		0.57	%
Non-interest bearing deposits	11,642,969						12,214,531						13,747,876						14,235,749						15,804,061
Other liabilities	426,543						305,554						227,701						243,141						238,833
Stockholders’ equity	3,055,751						3,044,993						3,049,661						3,184,654						3,187,705
Total liabilities and stockholders’ equity	$	30,738,402					$	31,813,911					$	31,432,920					$	34,255,284					$	37,239,701
Net interest income			$	247,746					$	239,191					$	206,024					$	184,044					$	194,534
Net interest margin					3.26	%					3.05	%					2.68	%					2.23	%					2.12	%

(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.

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, 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. Several 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. These factors include, but are not limited to, credit quality and risk, the unpredictability of economic and business conditions that may impact TCBI or its customers, the COVID-19 pandemic, the Company’s ability to effective manage its liquidity risk and any growth plans and the availability of capital and funding, the Company’s ability to effectively manage information technology systems, cyber incidents or other failures, disruptions or security breaches, interest rates, commercial and residential real estate values, adverse or unexpected economic conditions, including inflation, recession, the threat of recession, and market conditions in Texas, the United States or globally, including governmental and consumer responses to those economic and market conditions, fund availability, accounting estimates and risk management processes, the transition away from the London Interbank Offered Rate (LIBOR), legislative and regulatory changes, ratings or interpretations, business strategy execution, the failure to identify, attract and retain key personnel, increased or expanded competition from banks and other financial service providers in TCBI’s markets, the failure to maintain adequate regulatory capital, environmental liability associated with properties related to TCBI’s lending activities, and severe weather, natural disasters, acts of war, terrorism, global conflict or other external events, climate change and related legislative and regulatory initiatives. These and other factors that could cause actual results for TCBI on a consolidated basis to differ materially from those described in the forward-looking statements, including a discussion of the risks and uncertainties that may affect TCBI’s business, can be found in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and in 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 Serving strong core Texas markets with expanded coverage and a complete set of capabilities Improving client relevance and diversifying our revenue base Attracting high-quality talent with significant experience Our Distinct Opportunity Operating from a de-risked position of financial strength

4 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

5 Prior Challenges Identified Current Positioning Limited Fee Income & Unfocused Loan Growth Narrow product offerings and low client relevance led to overdependence on loan growth to drive earnings  Fee income in areas of focus up 68% compared to 2020; loan portfolio increasingly weighted towards best-in-class Texas based clients with C&I loans1 up $3.3 billion, or 48% over the same period  Full Year IB and Trading Income up 43%; strong momentum entering 2023 with highest fee quarter for the Investment Bank in Q4 2022 Funding Strategy Overreliance on disconnected, high-cost, high-beta national deposit verticals created earnings volatility  Rationalized national deposit verticals in 2021, resulting in ~$15 million of released expense reinvested into client-facing Treasury professionals and platform enhancements  Proactive $6.8 billion, or 70%, reduction of 100% beta indexed deposits since Q4 2020 Lower-than-Peer Capital Ratios Utilizing leverage to drive financial performance limited ability to proactively manage capital  Through a combination of capital raises, accretive divestitures, and enhanced capital management, CET1 increased to top decile in peer group2; repurchased 4% of 2020 shares outstanding  Financially resilient balance sheet allows us to serve clients thru-cycle; Allowance for credit losses on loans to non-accrual LHI is 5.2x compared to 2.1x at the end of 2020 Misallocated Expenses Legacy investment agenda not connected to strategy and lacked scalability due to operational silos  ~$175 million, run rate expenses unlocked since Jan ’21 with proceeds reinvested directly against defined strategy; 60% of total expense base aligned to our people in 2022 compared to 48% in 2020  Focused spend in technology and infrastructure improvements are yielding improved client experience and early operating efficiencies Cyclical Portfolio Concentrations Poor client selection led to sizeable credit losses and larger holds drove overexposure in less desirable sectors  Divested disconnected assets, Correspondent Lending and BankDirect, and built mortgage warehouse lending into a full-service Mortgage Finance business via product and service expansion  Recent and expected growth consistent with Texas Capital’s desired best-in-class client focus Operating Model Not Ready for Scale A siloed mindset and inflexible organizational structure limited our ability to be prepared for the next phase of growth  Highly differentiated coverage model better aligns banker, product, and service expertise utilized by specific client types  Expanded Treasury Solutions, a holistic Private Wealth offering, and unique Investment Banking capabilities, allows us to serve clients through the entirety of their life cycle Wholesale Business Transformation Over Two Years Addressed Key Challenges Identified During 2021 Strategic Update Strategic Foundation in Place | Pivoting Focus to Financial Performance TCBI Peer Key Metrics Q4 2020 Q4 2022 Group2 Book Value per Share $53.92 $56.48 Tangible Book Value per Share3 $53.57 $56.45 Tangible Book Value per Share3 Growth 5.4% (7.8%) Capital: Highest level in 20 years CET1 Ratio 9.4% 13.0% 11.0% Total Risk-Based Capital 12.1% 17.7% 13.1% Total Common Equity / Total Assets 7.2% 9.7% 9.6% Tangible Common Equity / Tangible Assets4 7.2% 9.7% 6.8% Liquidity Profile: Well-positioned; In excess of internal targets Cash & Securities / Total Assets 33% 30% 25% Loan / Deposit 80% 85% 82% Loan Portfolio: Executing commercial strategy; Differentiated relative to peers C&I Loans1 / Total LHI 28% 52% 18% Deposits: Refocused Non-Interest Bearing Deposits, excl MF5 / Total Deposits 16% 26% -- Indexed Deposits / Total Deposits 32% 13% --

6 C&I Loans1 52% Real Estate Loans 27% Mortgage Finance Loans 21% Insurance Premium Finance Loans 9% C&I Loans1 28% Real Estate Loans 24% Mortgage Finance Loans 37% PPP 2% Indexed 32% Interest Bearing 27% Non-interest Bearing, excl Mortgage Finance 16% Mortgage Finance Non-interest Bearing 25% Indexed 13% Interest Bearing 45% Non-interest Bearing, excl Mortgage Finance 26% Mortgage Finance Non-interest Bearing 16% Changes in Balance Sheet Composition Q4 2020  Two years into the balance sheet transformation investments to support the development of a C&I offering have begun to optimize the business mix  Portfolio concentrations de-risked through proactive exits and focused calling efforts on best-in-class Texas-based clients  C&I Loans1 comprise 52% of total loans, an increase of $3.3 billion, or 48% since Q4 2020  Adherence to defined operating routines continuing to improve capital efficiency through consistent emphasis on client relevance. Q2 through Q4 2022, 75% of commitments reviewed by the Balance Sheet Committee involved Treasury or other non-loan products  Sustained focus on earning the right to be our client’s primary treasury bank, which will over time continue to build the deposit base consistent with TCBI’s long-term strategy  Excluding Mortgage Finance deposits, full year average operating deposits are up 15%  Deliberate reduction in highest cost, highest beta, shortest duration deposit sources; indexed deposits are down $6.8 billion from 32% of total deposits in Q4 2020, to 13% at Q4 2022  Inside of our published target of <15% Q4 2022 $31.0 Billion $22.9 Billion $19.3 Billion Period End Deposit Trends Period End LHI Trends $24.4 Billion $3.6B $6.0B $10.3B $7.8B $4.9B $8.5B $9.8B $3.0B $10.1B$0.6B $6.8B $5.2B $9.1B $2.2B $10.3B $4.1B $5.8B

7 Treasury Product Fees7 $29.4 Investment Banking Income $35.1Wealth Income $15.0 Other Fee Income $21.5 Net Interest Income $875.8 Fee Income $101.0 Gain on Sale of BDCF $248.5 Treasury Product Fees7 $14.7 Investment Banking Income $22.7 Wealth Income $10.0 Other Fee Income $56.3 Net Interest Income, excl MCA6 $821.1 Fee Income, excl MCA6 $103.7 MCA, $129.5 Capabilities to Deliver Structurally Higher, More Sustainable Earnings Core Treasury Platform Swaps Full Suite of Highly Integrated ProductsLoan Syndications Enhanced Wire Platform Adapted the Coverage Model More than 20 new Investment Banking, Treasury Management, and Private Wealth-related services supporting our stated focus of being relevant to clients beyond with simply the loan product Expanded the Product Set Focused Technology Investment 1.9x new client facing professionals excluding BDCF, across defined industry and geographic coverage Developed market-leading, cloud-native software including:  Texas Capital Initio™, the Firm’s proprietary account opening and onboarding solution  Texas Capital CoreTex™, our modern and API-driven services platform  Texas Capital C360™, a cross-LOB operations management system; and,  DaaS, a completely modernized cloud-based data platform New Products Since 2020 2020 Revenue Contributions ($M) 2022 Revenue Contributions ($M) 2020 Product Build Largely Complete; Focus is on Driving Scale Year End 2022Treasury Solutions Investment Banking Private Wealth 2025 2021 & 2022 Accomplishments 6 API Integration Mixed Payments File Zelle P2P & Small Business Small Business Solution Expanded Merchant Offering Healthcare Revenue Cycle Management M&A Advisory Capital Markets Corporate Sales & Trading MBS Hedging & Pool Trading Gestation Financing Whole Loan Trading Rates & Forex Hedging Financial Sponsors Coverage Online Banking Portals Alternative Investments Family Governance Insurance Brokerage Services Outsourced DAF Portfolio Mortgage Program Securities-based Lending Financial Planning in Market Estate Planning in Market Concierge Private Banking Trust / Fiduciary Services Tactical & Thematic Portfolio 360o Client Relationship Portal

8 9.4 10.2 10.5 10.7 11.1 11.5 10.5 11.1 13.0 12.0 0.9 2.0 1.6 1.5 1.5 1.5 1.4 1.5 1.7 1.8 1.8 2.7 2.7 2.7 2.7 2.5 2.6 3.0 CET1 Tier 1 Capital Tier 2 Capital 79 73 83 80 81 85 95 81 84 81 76 73 72 73 76 81 82 TCBI Peer Median 9.2 11.4 7.0 8.5 7.9 5.4 4.3 3.6 5.0 3.2 3.4 3.8 3.7 3.6 3.6 3.6 3.4 3.6 0 2,000,000,000 4,000,000,000 6,000,000,000 8,000,000,000 10,000,000,000 12,000,000,000 14,000,000,000 16,000,000,000 Cash & Equivalents Securities 2.1 2.5 2.6 2.5 2.9 3.6 4.5 6.5 5.2 2.8 2.9 3.4 3.5 3.7 3.6 4.1 3.9 Peer MedianTCBI Financially Resilient Balance Sheet Total Capital Trends (%) Cash and Securities ($B)Total LHI / Deposit (%) CET1 Peer Median2 (%) 12.0 12.1 12.0 12.0 11.8 11.4 11.1 11.0 ACL on Loans / Total LHI (%) TCBI 1.04 0.99 0.93 0.93 0.93 0.97 0.95 1.19 1.31 Peer Median2 1.47 1.40 1.31 1.26 1.19 1.13 1.09 1.09 Cash and Securities / Total Assets (%) TCBI 33 37 31 34 33 29 24 23 30 Peer Median2 28 31 32 34 34 31 28 25  Disciplined and analytically rigorous approach to managing capital base to drive long-term shareholder value  Poorly returning capital continues to mature enabling reinvestment into opportunities with higher risk-adjusted returns  Executed share repurchases in 2022 at levels that generated EPS accretion and were neutral to TBVPS  Multi-year portfolio de-risking benefits are evident today and position the Firm well for the future  Established a dual risk rating system, ensuring newly originated credits align client selection and underwriting  ACL on Loans to LHI increased 38 bps, or $41.6 million since Q4 2021; 49 bps greater than CECL Day 1  Meaningful reduction of high-cost deposits resulting in an increasingly efficient balance sheet and appropriate levels of liquidity  Well-positioned loan to deposit ratio supports next phase of strategy execution Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 12.1 2023 Target 14.0 14.8 14.9 15.3 15.7 14.4 15.2 17.7 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 ACL on Loans / Non-Accrual LHI (x) 2 2

9 Balance Sheet FY Average Liquidity Assets10 (% of Total Average Assets) 28% 37% 27% >20% FY Average Indexed Deposits (% of Total Deposits) 36% 27% 18% <15% Where We Started Where We Are Going Performance Metrics 2020 2021 2022 2025 Return on Average Assets 0.18% 0.67% 1.04% >1.10% Return on Average Tangible Common Equity11 2.1% 8.4% 11.4% >12.5% Adj. Return on Average Assets12 0.33% 0.69% 0.55% >1.10% Adj. Return on Average Tangible Common Equity11 4.2% 8.7% 5.8% >12.5% CET1 9.4% 11.1% 13.0% 9%–10% Where We Started Where We Are Going Income Statement 2020 2021 2022 2025 Investment Banking and Trading Income (% of Total Revenue) 2.2% 2.7% 2.9% ~10% Treasury Product Fees7 (% of Total Revenue) 1.4% 2.5% 2.4% ~5% Non-interest Income (% of Total Revenue) 19.3% 15.2% 28.5% 15%–20% Investment Banking and Trading Income (% of Adj. Total Revenue8) 2.5% 2.8% 3.6% ~10% Treasury Product Fees7 (% of Adj. Total Revenue8) 1.6% 2.6% 3.0% ~5% Adj. Non-interest Income9 (% of Adj. Total Revenue8) 11.2% 13.4% 10.3% 15%–20% 2021 Strategic Update Performance Drivers Talent Frontline Talent Growth 1.0x 1.4x 1.7x 2.3x Frontline Talent Growth Excl BDCF 1.0x 1.4x 1.9x 2.3x

10 Financial Performance Q4 ‘21 Q1 ‘22 Q2 ‘22 Q3 ‘22 Q4 ‘22 FY 2021 FY 2022 FY Growth Assets Under Management ($B) $2.7 $2.7 $2.6 $2.6 $3.0 $2.7 $3.0 11% Treasury Product Fees7 ($M) $6.0 $7.4 $7.6 $7.4 $7.0 $23.1 $29.4 27% Wealth Management & Trust Fee Income ($M) $3.8 $3.9 $4.1 $3.6 $3.4 $13.2 $15.0 14% Investment Banking and Trading Income ($M) $6.5 $4.2 $11.1 $7.8 $11.9 $24.4 $35.1 43% Income From Areas of Focus ($M) $16.3 $15.5 $22.8 $18.9 $22.4 $60.7 $79.5 31%  Geographic and industry specific coverage now in place with a more normalized pace of hiring going forward  Clear strategic direction aligning clients to bankers with a solution set tailored to their unique needs  Robust weekly pipeline meetings to focus resources on delivering exceptional client outcomes  Routine and intentional calling with Treasury Solutions and Investment Banking Partners to deliver the whole Firm Focused Coverage and Enhanced Product and Services Financial Performance (Period End) Q4 ‘21 Q1 ‘22 Q2 ‘22 Q3 ‘22 Q4 ‘22 FY 2021 FY 2022 FY Growth Business, Middle Market, and Corporate Banking Talent 1.7x 2.1x 2.3x 2.5x 2.5x 1.7x 2.5x Business, Middle Market, and Corporate Banking Deposits ($B) $7.7 $7.1 $7.3 $6.9 $6.6 $7.7 $6.6 (14%) C&I Loans1 ($B) $7.8 $8.1 $9.4 $10.0 $10.1 $7.8 $10.1 29% Real Estate Loans ($B) $4.8 $4.9 $5.1 $5.0 $5.2 $4.8 $5.2 9% Treasury Solutions Private Wealth Investment Banking Business, Middle Market & Corporate Banking  FY Treasury Product Fees are up 27% YoY; Service Charges +23% and Other Fees +48%  Expanded products and differentiated onboarding solutions coming on-line in 1H23  AUM grew 11% YoY from strong organic growth despite negative markets (S&P -19%)  Wholesale platform enhancement targeted for completion by mid-2023  Advised sale of BDCF validating M&A expertise; FY IB and Trading Revenue +43% YoY  Expanding full-year pipelines suggest increasing contribution, though not evenly distributed by quarter

11 Financial Performance Non-GAAP Adjustements12 ($M) Q3 2022 Q4 2022 Non-interest Revenue 25.3 277.7 Gain on Sale of BDCF 0.0 248.5 Non-interest Revenue, Adjusted 25.3 29.2 Non-interest Expense 197.0 213.1 Transaction Costs 16.7 13.0 Restructuring Expenses 0.0 9.8 Charitable Contribution 0.0 8.0 Non-Interest Expense, Adjusted 180.4 182.3 Financial Highlights ($M) Adjusted (Non-GAAP)12 Adjusted (Non-GAAP)12 2021 2022 2021 2022 Q4 2021 Q3 2022 Q4 2022 Q3 2022 Q4 2022 Net Interest Income $768.8 $875.8 $768.8 $875.8 $194.0 $239.1 $247.6 $239.1 $247.6 Non-Interest Revenue 138.2 349.5 138.2 101.0 31.5 25.3 277.7 25.3 29.2 Total Revenue 907.1 1,225.3 907.0 976.8 225.5 264.4 525.3 264.4 276.7 Non-Interest Expense 599.0 727.5 587.0 680.1 146.6 197.0 213.1 180.4 182.3 PPNR13 308.1 497.8 320.0 296.6 78.8 67.4 312.2 84.0 94.4 Provision for Credit Losses (30.0) 66.0 (30.0) 66.0 (10.0) 12.0 34.0 12.0 34.0 Income Tax Expense 84.1 99.3 86.8 53.9 23.7 13.9 60.9 17.7 11.8 Net Income 253.9 332.5 263.2 176.8 65.1 41.4 217.3 54.3 48.6 Preferred Stock Dividends 18.7 17.3 18.7 17.3 4.3 4.3 4.3 4.3 4.3 Net Income to Common 235.2 315.2 244.5 159.5 60.8 37.1 212.9 50.0 44.3 Performance Metrics Return on Average Assets 0.67% 1.04% 0.69% 0.55% 0.69% 0.52% 2.80% 0.68% 0.63% PPNR13 / Average Assets 0.81% 1.55% 0.84% 0.93% 0.84% 0.84% 4.03% 1.05% 1.22% Efficiency Ratio14 66% 59% 65% 70% 65% 75% 41% 68% 66% Return On Average Common Equity 8.35% 11.33% 8.68% 5.73% 8.36% 5.36% 30.66% 7.23% 6.38% Earnings Per Share $4.60 $6.18 $4.78 $3.13 $1.19 $0.74 $4.23 $0.99 $0.88 Book Value per Share $57.48 $56.48 $57.48 $51.82 $56.48 Tangible Book Value per Share3 $57.14 $56.45 $57.14 $51.48 $56.45 Non-GAAP Adjustments12 ($M) 2021 2022 Non-interest Revenue 138.2 349.5 Gain on Sale of BDCF 0.0 248.5 Non-interest Revenue, Adjusted 138.2 101.0 Non-interest Expense 599.0 727.5 Software Write-Offs 12.0 0.0 Transaction Costs 0.0 29.6 Restructuring Expenses 0.0 9.8 Charitable Contribution 0.0 8.0 Non-Interest Expense, Adjusted 587.0 680.1

12 $7.8 $8.1 $9.4 $10.0 $10.1 $2.7 $2.9 $3.1 $3.1 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q4 2022 EOP $7.9 $5.7 $5.9 $5.3 $4.3 $4.1 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $4.8 $4.9 $5.1 $5.0 $5.2 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 51% 47% 49% 51% 53% 55% 57% 59% 61% Loan Portfolio Average Mortgage Finance Loans ($B) Period End Loan Trends (excl. PPP) ($B) Utilization Rates15  C&I Loans1 grew $143 million or 1% QoQ  Real Estate Loans grew modestly at 4% QoQ as slowing payoffs offset reduction in client demand; thru-cycle strategy centered on client selection and adherence to proven concentration guidelines  In the industry-wide contracting market, average Mortgage Finance Loans declined 19% QoQ; rate driven impacts pronounced amidst seasonal weakness Real Estate Loans 52% LTM Average C&I Loans1 Insurance Premium Finance Loans

13 Q4 2022 EOP $6.3 $6.4 $6.6 $6.5 $6.3 $6.0 $9.5 $7.8 $7.1 $5.7 $5.3 $3.6 $0.9 $0.7 $0.6 $1.4 $1.3 $1.1 $13.9 $13.2 $10.7 $12.0 $12.0 $12.2 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q4 2022 Non-interest Bearing, excl MF Mortgage Finance Non-interest Bearing Interest Bearing Brokered Interest Bearing 0.19% 0.20% 0.33% 0.93% 1.53% 0.28% 0.30% 0.47% 1.04% 1.62% 0.39% 0.40% 0.73% 1.79% 2.87% Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 0.39% 2.68% 0.39% 2.87% 0.19% 1.53% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $15.8 $12.2 $11.6 $9.6 $7.6 $9.3 $9.9 $10.3 $7.2 $4.1 $3.4 $3.0 Q4 2021 Q3 2022 Q4 2022 Q4 2022 EOP Deposits and Fundings Funding CostsAverage Deposit Composition ($B) Non-interest Bearing Indexed  Funding base continuing multi-year transition to target state composition  Seasonality related to tax payments from escrow accounts drove a decline in Mortgage Finance deposits in Q4; balances anticipated to rebuild beginning in January  Indexed deposits reduced by $788 million in Q4 2022 and down $4.3 billion YoY; represents 13% of total deposits and below long-term target level of 15%  Average Cost of Total Deposits increased 60 bps QoQ; a cumulative beta of 32% since the beginning of the current tightening cycle  57% cumulative beta in the last tightening cycle (Sep-15 to Jun-19) Interest Bearing Average Deposit Trends ($B) 23% 25% 52% $30.6 $25.6 $30.6 $28.1 $25.0 $25.6 Current Cycle Rates Paid Betas16 Int. Bearing Rate Int. Bearing excl. Indexed Rate Fed Funds Upper TargetTotal Deposit Rate 16% 36% 48% Cumulative Betas 58% 54% 32% Avg Cost of Total Deposits Avg Cost of Int. Bearing Deposits Total Cost of Funds $24.9 $22.9 $24.9 $22.9 13% 40% 47% 5

14 (9.9%) (10.2%) 6.8% 7.3% 8.0% 17.4% 12.9% 14.5% Q4 2021 Q3 2022 Q4 2022 -100bps Shock +100bps Shock +200bps Shock Net Interest Income Sensitivity Standard Model Assumptions 100bp & 200bp Parallel Shocks  Loan Balances: Static  Deposit Balances: Static  Indexed Deposits: Ratio held constant at 13%  Loan Spreads: Current Levels  Total Deposit Beta: ~50%  Investment Portfolio: Ratio held constant Loan Repricing Detail // Gross LHI excl. Mortgage Finance TCBI NII Sensitivity ($M)  The asset sensitivity profile of the bank increased QoQ driven by the increase in cash balances related to sale of BDCF and the continued remixing of the deposit base  $255 million of securities purchased during the quarter at a yield of 4.7% reduced asset sensitivity by ~25bps  Actions create a more stable medium-term NIM profile, while lowering rates-fall risk  LHI excl. Mortgage Finance: 7% fixed / 93% variable  $4.4 billion (29%) of LHI excl. Mortgage Finance have contractual floors  All loans with floors are acting as variable rate loans  Mortgage Finance represents 21% of the total Loan portfolio with the majority tied to 1-month SOFR which rose 159 bps in Q4 2022  Overall Mortgage Finance NII will not be as sensitive to changes in index rates as the rest of the portfolio due to the pricing dynamic of the associated deposits held in non-interest bearing accounts  Bank’s overall Net Interest Income sensitivity (8.0%, $77 million and 14.5%, $140 million at Q4 2022) inclusive of Mortgage Finance NII impact $135 Base NII17 $718M $1,045M $966M Hedging Profile $77 $(104) $49 $125 ($M) Notional Balance Fixed Rate Q2 2022 $750 5.01% Q3 2022 $3,000 3.61% Q4 2022 $3,000 3.61% 2023 $3,000 3.61% 2024 $2,750 3.54% ($15.3B) Q4 2022 Fixed 7% Prime 18% 1 Month 68% 3 Month 5% 6 Month 2% Variable 93% Total 100% $140 $77 $(99)

15 $31.5 $20.3 $26.2 $25.3 $29.2 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $248.5 Q4-2022 Earnings Overview $89.1 $100.1 $103.9 $115.6 $101.5 $57.6 $53.0 $60.4 $64.7 $80.9 $16.7M $30.7M Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022Deposit Service Charges Investment Banking and Trading Wealth Management Net Interest Income ($M) Non-Interest Income ($M) Fee Income Detail ($M) Net Interest Margin ($M) Non-interest Expense ($M) $239.1 $(38.3) $51.9 $(0.7) $36.3 $(35.8) $(4.9) $247.6 Q3 2022 Loan Volume Loan Yield Loan Fees Investment Securities & Cash Deposits Borrowings Q4 2022 $4.7 $5.7 $5.1 $3.8 $3.6 $3.4 $6.5 $7.8 $11.9 $146.6 $153.1 $164.3 $197.0 $213.1 61% 65% 63% 59% 48% 39% 35% 37% 33% 38% 8% 14% Salaries & Benefits Non-Recurring Items12Other NIE % of Adj Total Revenue12 14% 10% 11% 10% 11% $194.0 $183.5 $205.5 $239.1 $247.6 2.12% 2.23% 2.68% 3.05% 3.26% Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Net Interest Income Net Interest Margin Q4 2021 Q4 2022Q3 2022 Non-interest Income Gain on Sale of BDCF

16 37% 60% 46% 62% 67% 18% 4% 45% 40% 50% 38% 33% Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Commercial Mortgage Finance Energy Real Estate 45% 51% 36% 68% 73% 32% 2% 9% 8% 4% 6% 4% 46% 41% 28% 24% 23% Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Commercial Mortgage Finance Energy Real Estate 0.21% 0.19% 0.16% 0.12% 0.17% 0.02% (0.01%) 0.05% 0.05% 0.31% 2.56% 2.20% 2.51% 2.45% 2.66% Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 NPAs / Total Assets NCOs / Avg. LHI Criticized / LHI 1.34% 1.51% 1.60% 1 2 3 2.9 x 6.5 x 5.2 x 1 2 3 Allowance for Credit Loss Reserve Ratios Special Mention Composition ($M) Q4-2022 Earnings Overview Q4 2021 Q3 2022 Q4 2022 Asset Quality Ratios ACL on Loans excl MF5 / Loans HFI excl MF5 ACL on Loans / Non- accrual Loans HFI Substandard Composition ($M) $427.8 $313.2 $449.2 $220.7 $255.1 Charge-offs ($M) $3.8 $0.5 $2.9 $3.1 $17.1 Recoveries ($M) $2.7 $1.0 $0.2 $0.4 $2.1 $155.1 $162.8 $154.3 $263.3 $258.0  Reserves to loans coverage ratio as a percent of LHI in the top 20 percent among peers  ACL on Loans, excl. Mortgage Finance increased to $242.7 million in Q4 2022 from $224.5 million in Q3 2022 due to modest portfolio growth coupled with observed migration trends  Enterprise disciplines supporting a values-driven credit culture, driving criticized loans down 12% YoY  $15 million of net charge-offs recorded for the quarter as expected losses on legacy credits moved closer to resolution  Downward grade migrations to special mention and substandard in Q4 2022 predominantly related to Commercial clients with consumer dependencies  Substandard loans increased $34.4 million, or 16%, QoQ  Total criticized loans increased 6% to $513.2 million from $484.0 million in Q3 2022

17 11.06% 11.45% 10.46% 11.08% 13.00% 12.00% 1.54% 1.58% 1.45% 1.51% 1.67% 2.72% 2.65% 2.51% 2.66% 3.03% Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $57.14 $54.68 $53.93 $51.48 $56.45$57.48 $55.02 $54.27 $51.82 $56.48 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 8.33% 8.93% 8.32% 8.45% 9.69% 8.38% 8.98% 8.37% 8.50% 9.70% Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 2023 Target Q4-2022 Earnings Overview Regulatory Capital Levels Tangible Common Equity / Tangible Assets4 Tangible Book Value per Share3 Period End AOCI ($M) $(47.7) $(205.4) $(272.2) $(435.4) $(418.9) 15.32% 15.68% 14.42% 15.25% 17.70% CET1 Tier 2 CapitalTier 1 Capital AOCI per Share $0.94 $4.05 $5.46 $8.73 $8.59  Capital is at record levels with CET1, Total Capital Ratio and Total Common Equity / Total Assets in top decile of peer group2  Capital discipline demonstrated through 2022  Q4 2022 repurchased 1.1 million shares (2% of prior quarter common stock) at a weighted average price of $57.20  In 2022 repurchases totaled 2.1 million shares at a weighted average price of $55.35 (4% of year-end 2021 common stock)  Board authorized new repurchase plan of $150 million  Tangible Common Equity / Tangible Assets4 finished the quarter at 9.69%, an important characteristic of our financially resilient business model and a key metric as we manage the balance sheet through-cycle  Tangible Book Value per Share3 grew 10% QoQ primarily due to the realized gain on the sale of BDCF paired with a modest improvement in AOCI of $16 million from the prior quarter Tangible Common Equity / Tangible Assets4 Common Equity / Total Assets Peer2 Tangible Common Equity / Tangible Assets4 8.0% 7.6% 7.2% 6.8% Tangible Book Value per Share3 Book Value per Share

18 Full Year 2023 Guidance Full Year 2023 Guidance Total Revenue Mid Teens % Growth Non-Interest Expense, Adjusted12 Low Double Digit % Growth Quarterly Operating Leverage (YoY Growth in Quarterly PPNR13) Maintain Cash & Total Securities (% of Total Assets) >20% 2023 CET1 Target Medium Term CET1 Target >12% >10%  Forward curve18 assumes a peak Fed Funds of 5.25% and a 2023 exit rate of 4.75%  Assumes tax rate of 25% in 2023  Non-interest expense growth guidance excludes 2022 non-recurring expenses Guidance Commentary

19 1. C&I Loans includes Commercial and Energy loans and excludes PPP loans and Insurance Premium Finance Loans (in periods prior to divestiture in Q4 2022) 2. Compared to major exchange traded peer banks with $20-100 billion in assets as of Q3 2022, excluding PR headquartered banks and merger targets Source: S&P Capital IQ Pro 3. Stockholders’ equity excluding preferred stock, less goodwill and intangibles (Q3 2022 includes $15.5 million BDCF goodwill and intangibles reclassed to other assets held for sale), divided by shares outstanding at period end 4. Stockholders’ equity excluding preferred stock, less goodwill and intangibles (Q3 2022 includes $15.5 million BDCF goodwill and intangibles reclassed to other assets held for sale), divided by Total Assets, less goodwill and intangibles (Q3 2022 includes $15.5 million of BDCF goodwill and intangibles reclassed to other assets held for sale) 5. “MF” used as abbreviation for Mortgage Finance 6. See slide: Appendix // Correspondent Lending Historical Contribution 7. Includes service charges on deposit accounts, as well as fees related to our commercial card program, merchant transactions, wire fees, and FX transactions, all of which are included in other non- interest income and totaled $3.1 million for FY 2020, $4.4 million for FY 2021, $6.5 million for FY 2022 and $1.3 million, $1.3 million, $1.6 million, $1.7 million, and $1.9 million for Q4 2021, Q1 2022, Q2 2022, Q3 2022, and Q4 2022, respectively 8. Adj. Total Revenue in 2020 and 2021 excludes Correspondent Lending and in 2022 excludes the $248.5 million gain on sale of BDCF; See slide: Appendix // Correspondent Lending Historical Contribution 9. Adj. Non-interest Income in 2020 and 2021 excludes Correspondent Lending and Adj. Non-interest Income in 2022 excludes the $248.5 million gain on sale of BDCF; See slide: Appendix // Correspondent Lending Historical Contribution 10. Includes interest-bearing cash and cash equivalents and investment securities, excluding held-to-maturity debt securities 11. See slide: Non-GAAP Reconciliation // Return on Average Tangible Common Equity (ROATCE) 12. See slide: Non-GAAP Reconciliation // 2020, 2021, and 2022 Adjusted Earnings 13. Net interest income and non-interest income, less non-interest expense 14. Non-interest expense divided by the sum of net interest income and non-interest income 15. Outstanding loans divided by total commitments excluding Mortgage Finance Loans and leases 16. Beta taken as the difference of Q4 2022 and Q4 2021 cost of total deposits, cost of interest-bearing deposits, and cost of indexed deposits divided by the change in fed funds upper target over the same period 17. Baseline scenarios hold constant balances, market rates, and assumptions as of period end reporting 18. Forward curve as of January 3, 2023 Appendix // Footnotes

20 Appendix // Correspondent Lending Historical Contribution Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 LHS (Average) LHS (Period-end) $70.6M $75.5M $95.3M $105.4M $121.1M $1.3M $1.2M $0.0M Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 MSR (Period-end) Risk Weighted ~50% Risk Weighted 250% ($M) Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Net Interest Income 24.5 1.5 2.8 1.4 30.2 0.9 0.3 0.0 0.0 1.2 Non-interest Income Brokered Loan Fees 2.6 2.8 5.8 3.9 15.1 2.2 0.7 0.0 0.0 2.9 Servicing Income 4.6 5.9 7.1 8.6 26.2 8.8 5.7 0.0 0.0 14.5 Gain/(Loss) on Sale of LHS (13.0) 39.0 25.2 6.8 58.0 5.6 (3.1) (1.2) 0.0 1.3 Non-Interest Expense Salaries & Benefits 3.6 3.5 4.5 3.4 15.0 3.0 3.1 0.4 0.3 6.8 Marketing 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Legal & Professional 0.8 0.6 0.8 0.9 3.1 1.0 0.8 0.3 0.2 2.3 Communications & Tech 0.7 1.4 1.0 1.0 4.1 0.4 0.3 1.3 0.5 2.5 Servicing-Related Expenses 16.4 20.1 12.3 15.9 64.7 13.0 12.4 2.4 0.0 27.8 Other Expense 0.5 0.5 0.4 0.7 2.1 0.7 0.6 0.6 0.2 2.1

21 Non-GAAP Reconciliation // Return on Average Tangible Common Equity (ROATCE) 2020 ($M) 2021 ($M) 2022 ($M) As Reported Adjusted1 As Reported Adjusted1 As Reported Adjusted1 Net Income to Common $56.5 $112.6 $235.2 $244.5 $315.2 $159.5 Average Common Equity $2,686.7 $2,686.7 $2,815.7 $2,815.7 $2,783.3 $2,783.3 Less: Average Goodwill and Intangibles 17.9 17.9 17.4 17.4 14.5 14.5 Average Tangible Common Equity $2,668.8 $2,668.8 $2,798.3 $2,798.3 $2,768.8 $2,768.8 ROACE 2.1% 4.2% 8.4% 8.7% 11.3% 5.7% ROATCE 2.1% 4.2% 8.4% 8.7% 11.4% 5.8% 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 presented below. (1) See slide Non-GAAP Reconciliation // 2020, 2021, and 2022 Adjusted Earnings

22 Non-GAAP Reconciliation // 2020, 2021, and 2022 Adjusted Earnings 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 presented below. ($M, Except per Share) Q4 2021 Q3 2022 Q4 2022 2020 2021 2022 Net Interest Income $194.0 $239.1 $247.6 $851.3 $768.8 $875.8 Non-interest Revenue 31.5 25.3 277.7 203.0 138.2 349.5 Adjustments for Non-Recurring Items: Gain on Sale of BDCF 0.0 0.0 (248.5) 0.0 0.0 (248.5) Non-interest Revenue, Adjusted 31.5 25.3 29.2 203.0 138.2 101.0 Non-interest Expense 146.6 197.0 213.1 704.4 599.0 727.5 Adjustments: Software Write-offs 0.0 0.0 0.0 (36.0) (12.0) 0.0 Transaction Costs 0.0 (16.7) (13.0) (17.8) 0.0 (29.6) Restructuring Expenses 0.0 0.0 (9.8) (18.0) 0.0 (9.8) Charitable Contribution 0.0 0.0 (8.0) 0.0 0.0 (8.0) Non-interest Expense, Adjusted 146.6 180.4 182.3 632.6 587.0 680.1 PPNR13 78.8 67.4 312.2 349.9 308.1 497.8 PPNR13, Adjusted 78.8 84.0 94.4 421.7 320.0 296.6 Provision for Credit Losses (10.0) 12.0 34.0 258.0 (30.0) 66.0 Income Tax Expenses 23.7 13.9 60.9 25.7 84.1 99.3 Tax Impact of Adjustments Above 0.0 3.8 (49.2) 15.6 2.7 (45.4) Income Tax Expense, Adjusted 23.7 17.7 11.8 41.3 86.8 53.9 Net Income 65.1 41.4 217.3 66.3 253.9 332.5 Net Income, Adjusted 65.1 54.3 48.6 122.4 263.2 176.8 Preferred Stock Dividends 4.3 4.3 4.3 9.8 18.7 17.3 Net Income to Common 60.8 37.1 212.9 56.5 235.2 315.2 Net Income to Common, Adjusted 60.8 50.0 44.3 112.6 244.5 159.5 Average Assets $37,239.7 $31,813.9 $30,738.4 $37,516.2 $38,140.3 $32,049.8 Return on Average Assets 0.69% 0.52% 2.80% 0.18% 0.67% 1.04% Return on Average Assets, Adjusted 0.69% 0.68% 0.63% 0.33% 0.69% 0.55% PPNR13 / Average Assets 0.84% 0.84% 4.03% 0.93% 0.81% 1.55% PPNR13, Adjusted / Average Assets 0.84% 1.05% 1.22% 1.12% 0.84% 0.93% Average Common Equity $2,887.7 $2,745.0 $2,755.8 $2,686.7 $2,815.7 $2,783.3 Return on Average Common Equity 8.36% 5.36% 30.66% 2.10% 8.35% 11.33% Return on Average Common Equity, Adjusted 8.36% 7.23% 6.38% 4.19% 8.68% 5.73% Diluted Common Shares 51,208,161 50,417,884 50,282,663 50,582,979 51,140,974 51,046,742 Earnings per Share $1.19 $0.74 $4.23 $1.12 $4.60 $6.18 Earnings per Share, Adjusted $1.19 $0.99 $0.88 $2.23 $4.78 $3.13


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