TCBI 8-K

Texas Capital Bancshares Inc/Tx (TCBI)

8-K 2025-01-23 For: 2025-01-23

View Original

Added on July 04, 2026

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Delaware	001-34657	75-2679109
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)


☐			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))


						INVESTOR CONTACT
						Jocelyn Kukulka, 469.399.8544
						[email protected]

						MEDIA CONTACT
						Julia Monter, 469.399.8425
						[email protected]




	4th Quarter			3rd Quarter			4th Quarter			Full Year			Full Year
(dollars in thousands except per share data)	2024			2024			2023			2024			2023
OPERATING RESULTS
Net income/(loss)	$	71,023		$	(61,319)		$	20,150		$	77,508		$	189,141
Net income/(loss) available to common stockholders	$	66,711		$	(65,632)		$	15,838		$	60,258		$	171,891
Pre-provision net revenue(4)	$	111,522		$	(69,993)		$	44,465		$	174,061		$	318,595
Diluted earnings/(loss) per common share	$	1.43		$	(1.41)		$	0.33		$	1.28		$	3.54
Diluted common shares	46,770,961			46,608,742			48,097,517			46,989,204			48,610,206
Return on average assets	0.88		%	(0.78)		%	0.27		%	0.25		%	0.64		%
Return on average common equity	8.50		%	(8.87)		%	2.25		%	2.04		%	6.15		%

OPERATING RESULTS, ADJUSTED(3)
Net income/(loss)	$	71,023		$	78,654		$	35,403		$	225,595		$	204,394
Net income/(loss) available to common stockholders	$	66,711		$	74,341		$	31,091		$	208,345		$	187,144
Pre-provision net revenue(4)	$	111,522		$	114,860		$	64,351		$	369,394		$	338,481
Diluted earnings/(loss) per common share	$	1.43		$	1.59		$	0.65		$	4.43		$	3.85
Diluted common shares	46,770,961			46,608,742			48,097,517			46,989,204			48,610,206
Return on average assets	0.88		%	1.00		%	0.47		%	0.74		%	0.69		%
Return on average common equity	8.50		%	10.04		%	4.41		%	7.05		%	6.70		%

BALANCE SHEET
Loans held for investment	$	17,234,492		$	16,764,512		$	16,362,230
Loans held for investment, mortgage finance	5,215,574			5,529,659			3,978,328
Total loans held for investment	22,450,066			22,294,171			20,340,558
Loans held for sale	—			9,022			44,105
Total assets	30,731,883			31,629,299			28,356,266
Non-interest bearing deposits	7,485,428			9,070,804			7,328,276
Total deposits	25,238,599			25,865,255			22,371,839
Stockholders’ equity	3,367,936			3,354,044			3,199,142


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
	2024			2024			2024			2024			2023
CONSOLIDATED STATEMENTS OF INCOME
Interest income	$	437,571		$	452,533		$	422,068		$	417,378		$	417,072
Interest expense	207,964			212,431			205,486			202,369			202,355
Net interest income	229,607			240,102			216,582			215,009			214,717
Provision for credit losses	18,000			10,000			20,000			19,000			19,000
Net interest income after provision for credit losses	211,607			230,102			196,582			196,009			195,717
Non-interest income	54,074			(114,771)			50,424			41,319			31,133
Non-interest expense	172,159			195,324			188,409			202,393			201,385
Income/(loss) before income taxes	93,522			(79,993)			58,597			34,935			25,465
Income tax expense/(benefit)	22,499			(18,674)			16,935			8,793			5,315
Net income/(loss)	71,023			(61,319)			41,662			26,142			20,150
Preferred stock dividends	4,312			4,313			4,312			4,313			4,312
Net income/(loss) available to common stockholders	$	66,711		$	(65,632)		$	37,350		$	21,829		$	15,838
Diluted earnings/(loss) per common share	$	1.43		$	(1.41)		$	0.80		$	0.46		$	0.33
Diluted common shares	46,770,961			46,608,742			46,872,498			47,711,192			48,097,517
CONSOLIDATED BALANCE SHEET DATA
Total assets	$	30,731,883		$	31,629,299		$	29,854,994		$	29,180,585		$	28,356,266
Loans held for investment	17,234,492			16,764,512			16,700,569			16,677,691			16,362,230
Loans held for investment, mortgage finance	5,215,574			5,529,659			5,078,161			4,153,313			3,978,328
Loans held for sale	—			9,022			36,785			37,750			44,105
Interest bearing cash and cash equivalents	3,012,307			3,894,537			2,691,352			3,148,157			3,042,357
Investment securities	4,396,115			4,405,520			4,388,976			4,414,280			4,143,194
Non-interest bearing deposits	7,485,428			9,070,804			7,987,715			8,478,215			7,328,276
Total deposits	25,238,599			25,865,255			23,818,327			23,954,037			22,371,839
Short-term borrowings	885,000			1,035,000			1,675,000			750,000			1,500,000
Long-term debt	660,346			660,172			659,997			859,823			859,147
Stockholders’ equity	3,367,936			3,354,044			3,175,601			3,170,662			3,199,142

End of period shares outstanding	46,233,812			46,207,757			46,188,078			46,986,275			47,237,912
Book value per share	$	66.36		$	66.09		$	62.26		$	61.10		$	61.37
Tangible book value per share(1)	$	66.32		$	66.06		$	62.23		$	61.06		$	61.34
SELECTED FINANCIAL RATIOS
Net interest margin	2.93		%	3.16		%	3.01		%	3.03		%	2.93		%
Return on average assets	0.88		%	(0.78)		%	0.56		%	0.36		%	0.27		%
Return on average assets, adjusted(4)	0.88		%	1.00		%	0.57		%	0.47		%	0.47		%
Return on average common equity	8.50		%	(8.87)		%	5.26		%	3.03		%	2.25		%
Return on average common equity, adjusted(4)	8.50		%	10.04		%	5.31		%	4.11		%	4.41		%
Efficiency ratio(2)	60.7		%	155.8		%	70.6		%	79.0		%	81.9		%
Efficiency ratio, adjusted(2)(4)	60.7		%	62.3		%	70.4		%	75.1		%	73.8		%
Non-interest income to average earning assets	0.69		%	(1.52)		%	0.71		%	0.59		%	0.43		%
Non-interest income to average earning assets, adjusted(4)	0.69		%	0.86		%	0.71		%	0.59		%	0.43		%
Non-interest expense to average earning assets	2.21		%	2.59		%	2.65		%	2.89		%	2.79		%
Non-interest expense to average earning assets, adjusted(4)	2.21		%	2.52		%	2.65		%	2.74		%	2.52		%
Common equity to total assets	10.0		%	9.7		%	9.6		%	9.8		%	10.2		%
Tangible common equity to total tangible assets(3)	10.0		%	9.7		%	9.6		%	9.8		%	10.2		%
Common Equity Tier 1	11.4		%	11.2		%	11.6		%	12.4		%	12.6		%
Tier 1 capital	12.8		%	12.6		%	13.1		%	13.9		%	14.2		%
Total capital	15.4		%	15.2		%	15.7		%	16.6		%	17.1		%
Leverage	11.3		%	11.4		%	12.2		%	12.4		%	12.2		%


TEXAS CAPITAL BANCSHARES, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
	December 31, 2024		December 31, 2023		% Change
Assets
Cash and due from banks	$	176,501	$	200,493	(12)	%
Interest bearing cash and cash equivalents	3,012,307		3,042,357		(1)	%
Available-for-sale debt securities	3,524,686		3,225,892		9	%
Held-to-maturity debt securities	796,168		865,477		(8)	%
Equity securities	75,261		51,825		45	%
Investment securities	4,396,115		4,143,194		6	%
Loans held for sale	—		44,105		(100)	%
Loans held for investment, mortgage finance	5,215,574		3,978,328		31	%
Loans held for investment	17,234,492		16,362,230		5	%
Less: Allowance for credit losses on loans	271,709		249,973		9	%
Loans held for investment, net	22,178,357		20,090,585		10	%

Premises and equipment, net	85,443		32,366		164	%
Accrued interest receivable and other assets	881,664		801,670		10	%
Goodwill and intangibles, net	1,496		1,496		—	%
Total assets	$	30,731,883	$	28,356,266	8	%

Liabilities and Stockholders’ Equity
Liabilities:
Non-interest bearing deposits	$	7,485,428	$	7,328,276	2	%
Interest bearing deposits	17,753,171		15,043,563		18	%
Total deposits	25,238,599		22,371,839		13	%
Accrued interest payable	23,680		33,234		(29)	%
Other liabilities	556,322		392,904		42	%
Short-term borrowings	885,000		1,500,000		(41)	%
Long-term debt	660,346		859,147		(23)	%
Total liabilities	27,363,947		25,157,124		9	%

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, 2024 and 2023	300,000		300,000		—	%
Common stock, $.01 par value:
Authorized shares - 100,000,000
Issued shares - 51,520,315 and 51,142,979 at December 31, 2024 and 2023, respectively	515		511		1	%
Additional paid-in capital	1,056,719		1,045,576		1	%
Retained earnings	2,495,651		2,435,393		2	%
Treasury stock - 5,286,503 and 3,905,067 shares at cost at December 31, 2024 and 2023, respectively	(301,842)		(220,334)		37	%
Accumulated other comprehensive loss, net of taxes	(183,107)		(362,004)		(49)	%
Total stockholders’ equity	3,367,936		3,199,142		5	%
Total liabilities and stockholders’ equity	$	30,731,883	$	28,356,266	8	%


TEXAS CAPITAL BANCSHARES, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands except per share data)
	Three Months Ended December 31,				Year Ended December 31,
	2024		2023		2024		2023
Interest income
Interest and fees on loans	$	340,388	$	325,210	$	1,377,925	$	1,300,653
Investment securities	44,102		28,454		148,219		108,294
Interest bearing cash and cash equivalents	53,081		63,408		203,406		220,976
Total interest income	437,571		417,072		1,729,550		1,629,923
Interest expense
Deposits	189,061		170,173		736,196		587,775
Short-term borrowings	10,678		18,069		49,994		70,642
Long-term debt	8,225		14,113		42,060		57,383
Total interest expense	207,964		202,355		828,250		715,800
Net interest income	229,607		214,717		901,300		914,123
Provision for credit losses	18,000		19,000		67,000		72,000
Net interest income after provision for credit losses	211,607		195,717		834,300		842,123
Non-interest income
Service charges on deposit accounts	6,989		5,397		25,546		20,874
Wealth management and trust fee income	4,009		3,302		15,315		13,955
Brokered loan fees	2,519		2,076		8,961		8,918

Investment banking and advisory fees	26,740		6,906		104,965		63,670
Trading income	5,487		3,819		21,635		22,512
Available-for-sale debt securities gains/(losses), net	—		—		(179,581)		489


Other	8,330		9,633		34,205		31,001
Total non-interest income	54,074		31,133		31,046		161,419
Non-interest expense
Salaries and benefits	97,873		107,970		466,578		459,700
Occupancy expense	11,926		9,483		45,266		38,494
Marketing	4,454		5,686		22,349		25,854
Legal and professional	15,180		17,127		53,783		64,924
Communications and technology	24,007		23,607		93,085		81,262
Federal Deposit Insurance Corporation insurance assessment	4,454		25,143		23,351		36,775


Other	14,265		12,369		53,873		49,938
Total non-interest expense	172,159		201,385		758,285		756,947
Income before income taxes	93,522		25,465		107,061		246,595
Income tax expense	22,499		5,315		29,553		57,454
Net income	71,023		20,150		77,508		189,141
Preferred stock dividends	4,312		4,312		17,250		17,250
Net income available to common stockholders	$	66,711	$	15,838	$	60,258	$	171,891

Basic earnings per common share	$	1.44	$	0.33	$	1.29	$	3.58
Diluted earnings per common share	$	1.43	$	0.33	$	1.28	$	3.54


TEXAS CAPITAL BANCSHARES, INC.
SUMMARY OF CREDIT LOSS EXPERIENCE
(dollars in thousands)
	4th Quarter			3rd Quarter			2nd Quarter			1st Quarter			4th Quarter
	2024			2024			2024			2024			2023
Allowance for credit losses on loans:
Beginning balance	$	273,143		$	267,297		$	263,962		$	249,973		$	244,902
Allowance established for acquired purchase credit deterioration loans	—			2,579			—			—			—
Loans charged-off:
Commercial	14,100			6,120			9,997			7,544			8,356

Commercial real estate	2,566			262			2,111			3,325			5,500
Consumer	—			30			—			—			—
Total charge-offs	16,666			6,412			12,108			10,869			13,856
Recoveries:
Commercial	4,562			329			153			105			15

Commercial real estate	18			—			—			—			4
Consumer	15			—			—			—			—
Total recoveries	4,595			329			153			105			19
Net charge-offs	12,071			6,083			11,955			10,764			13,837
Provision for credit losses on loans	10,637			9,350			15,290			24,753			18,908
Ending balance	$	271,709		$	273,143		$	267,297		$	263,962		$	249,973

Allowance for off-balance sheet credit losses:
Beginning balance	$	45,969		$	45,319		$	40,609		$	46,362		$	46,270
Provision for off-balance sheet credit losses	7,363			650			4,710			(5,753)			92
Ending balance	$	53,332		$	45,969		$	45,319		$	40,609		$	46,362

Total allowance for credit losses	$	325,041		$	319,112		$	312,616		$	304,571		$	296,335
Total provision for credit losses	$	18,000		$	10,000		$	20,000		$	19,000		$	19,000

Allowance for credit losses on loans to total loans held for investment	1.21		%	1.23		%	1.23		%	1.27		%	1.23		%
Allowance for credit losses on loans to average total loans held for investment	1.22		%	1.24		%	1.27		%	1.32		%	1.24		%
Net charge-offs to average total loans held for investment(1)	0.22		%	0.11		%	0.23		%	0.22		%	0.27		%
Net charge-offs to average total loans held for investment for last 12 months(1)	0.19		%	0.20		%	0.22		%	0.20		%	0.25		%
Total provision for credit losses to average total loans held for investment(1)	0.32		%	0.18		%	0.38		%	0.38		%	0.37		%
Total allowance for credit losses to total loans held for investment	1.45		%	1.43		%	1.44		%	1.46		%	1.46		%


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
	2024			2024			2024			2024			2023
Non-accrual loans held for investment	$	111,165		$	88,960		$	85,021		$	92,849		$	81,398
Non-accrual loans held for sale(1)	—			—			—			9,250			—
Other real estate owned	—			—			—			—			—
Total non-performing assets	$	111,165		$	88,960		$	85,021		$	102,099		$	81,398

Non-accrual loans held for investment to total loans held for investment	0.50		%	0.40		%	0.39		%	0.45		%	0.40		%
Total non-performing assets to total assets	0.36		%	0.28		%	0.28		%	0.35		%	0.29		%
Allowance for credit losses on loans to non-accrual loans held for investment	2.4x			3.1x			3.1x			2.8x			3.1x
Total allowance for credit losses to non-accrual loans held for investment	2.9x			3.6x			3.7x			3.3x			3.6x


Loans held for investment past due 90 days and still accruing	$	4,265		$	5,281		$	286		$	3,674		$	19,523
Loans held for investment past due 90 days to total loans held for investment	0.02		%	0.02		%	—		%	0.02		%	0.10		%
Loans held for sale past due 90 days and still accruing	$	—		$	—		$	64		$	147		$	—


TEXAS CAPITAL BANCSHARES, INC.
TAXABLE EQUIVALENT NET INTEREST INCOME ANALYSIS (UNAUDITED)(1)
(dollars in thousands)
	4th Quarter 2024						3rd Quarter 2024						2nd Quarter 2024						1st Quarter 2024						4th Quarter 2023
	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)	$	4,504,101	$	44,102	3.79	%	$	4,314,834	$	38,389	3.34	%	$	4,427,023	$	33,584	2.80	%	$	4,299,368	$	32,144	2.77	%	$	4,078,975	$	28,454	2.48	%
Interest bearing cash and cash equivalents	4,472,772		53,081		4.72	%	3,958,843		52,737		5.30	%	3,273,069		43,233		5.31	%	4,051,627		54,355		5.40	%	4,637,374		63,408		5.42	%
Loans held for sale	—		—		—	%	23,793		565		9.44	%	28,768		683		9.55	%	51,164		1,184		9.31	%	29,071		672		9.17	%
Loans held for investment, mortgage finance(4)	5,409,980		50,685		3.73	%	5,152,317		54,371		4.20	%	4,357,288		42,722		3.94	%	3,517,707		31,455		3.60	%	3,946,280		33,709		3.39	%
Loans held for investment(3)(4)	16,919,925		289,916		6.82	%	16,792,446		306,541		7.26	%	16,750,788		301,910		7.25	%	16,522,089		298,306		7.26	%	16,164,233		290,897		7.14	%
Less: Allowance for credit losses on loans	272,975		—		—		266,915		—		—		263,145		—		—		249,936		—		—		244,287		—		—
Loans held for investment, net	22,056,930		340,601		6.14	%	21,677,848		360,912		6.62	%	20,844,931		344,632		6.65	%	19,789,860		329,761		6.70	%	19,866,226		324,606		6.48	%
Total earning assets	31,033,803		437,784		5.59	%	29,975,318		452,603		5.96	%	28,573,791		422,132		5.86	%	28,192,019		417,444		5.88	%	28,611,646		417,140		5.69	%
Cash and other assets	1,178,284						1,239,855						1,177,061						1,058,463						1,120,354
Total assets	$	32,212,087					$	31,215,173					$	29,750,852					$	29,250,482					$	29,732,000

Liabilities and Stockholders’ Equity
Transaction deposits	$	2,141,739	$	15,403	2.86	%	$	1,988,688	$	15,972	3.20	%	$	2,061,622	$	16,982	3.31	%	$	2,006,493	$	16,858	3.38	%	$	1,972,324	$	15,613	3.14	%
Savings deposits	12,932,458		144,393		4.44	%	12,240,616		147,770		4.80	%	11,981,668		143,173		4.81	%	11,409,677		136,790		4.82	%	11,043,155		132,801		4.77	%
Time deposits	2,331,009		29,265		4.99	%	2,070,537		26,513		5.09	%	1,658,899		21,125		5.12	%	1,719,325		21,952		5.14	%	1,716,812		21,759		5.03	%
Total interest bearing deposits	17,405,206		189,061		4.32	%	16,299,841		190,255		4.64	%	15,702,189		181,280		4.64	%	15,135,495		175,600		4.67	%	14,732,291		170,173		4.58	%
Short-term borrowings	883,326		10,678		4.81	%	1,012,608		13,784		5.42	%	927,253		12,749		5.53	%	912,088		12,783		5.64	%	1,257,609		18,069		5.70	%
Long-term debt	660,270		8,225		4.96	%	660,098		8,392		5.06	%	778,401		11,457		5.92	%	859,509		13,986		6.54	%	858,858		14,113		6.52	%
Total interest bearing liabilities	18,948,802		207,964		4.37	%	17,972,547		212,431		4.70	%	17,407,843		205,486		4.75	%	16,907,092		202,369		4.81	%	16,848,758		202,355		4.76	%
Non-interest bearing deposits	9,319,711						9,439,020						8,647,594						8,637,775						9,247,491
Other liabilities	522,641						558,368						537,754						509,286						541,162
Stockholders’ equity	3,420,933						3,245,238						3,157,661						3,196,329						3,094,589
Total liabilities and stockholders’ equity	$	32,212,087					$	31,215,173					$	29,750,852					$	29,250,482					$	29,732,000
Net interest income			$	229,820					$	240,172					$	216,646					$	215,075					$	214,785
Net interest margin					2.93	%					3.16	%					3.01	%					3.03	%					2.93	%


Reconciliation of Non-GAAP Financial Measures
(dollars in thousands except per share data)	4th Quarter 2024			3rd Quarter 2024			2nd Quarter 2024			1st Quarter 2024			4th Quarter 2023			Full Year 2024			Full Year 2023
Net interest income	$	229,607		$	240,102		$	216,582		$	215,009		$	214,717		$	901,300		$	914,123

Non-interest income	54,074			(114,771)			50,424			41,319			31,133			31,046			161,419
Available-for-sale debt securities losses, net	—			179,581			—			—			—			179,581			—
Non-interest income, adjusted	54,074			64,810			50,424			41,319			31,133			210,627			161,419

Non-interest expense	172,159			195,324			188,409			202,393			201,385			758,285			756,947
FDIC special assessment	—			651			(462)			(3,000)			(19,886)			(2,811)			(19,886)
Restructuring expenses	—			(5,923)			—			(2,018)			—			(7,941)			—
Legal Settlement	—			—			—			(5,000)			—			(5,000)			—
Non-interest expense, adjusted	172,159			190,052			187,947			192,375			181,499			742,533			737,061

Provision for credit losses	18,000			10,000			20,000			19,000			19,000			67,000			72,000

Income tax expense/(benefit)	22,499			(18,674)			16,935			8,793			5,315			29,553			57,454
Tax effect of adjustments	—			44,880			104			2,262			4,633			47,246			4,633
Income tax expense/(benefit), adjusted	22,499			26,206			17,039			11,055			9,948			76,799			62,087

Net income/(loss)(1)	$	71,023		$	(61,319)		$	41,662		$	26,142		$	20,150		$	77,508		$	189,141
Net income/(loss), adjusted(1)	$	71,023		$	78,654		$	42,020		$	33,898		$	35,403		$	225,595		$	204,394

Preferred stock dividends	4,312			4,313			4,312			4,313			4,312			17,250			17,250

Net income/(loss) to common stockholders(2)	$	66,711		$	(65,632)		$	37,350		$	21,829		$	15,838		$	60,258		$	171,891
Net income/(loss) to common stockholders, adjusted(2)	$	66,711		$	74,341		$	37,708		$	29,585		$	31,091		$	208,345		$	187,144

PPNR(3)	$	111,522		$	(69,993)		$	78,597		$	53,935		$	44,465		$	174,061		$	318,595
PPNR(3), adjusted	$	111,522		$	114,860		$	79,059		$	63,953		$	64,351		$	369,394		$	338,481

Weighted average common shares outstanding, diluted	46,770,961			46,608,742			46,872,498			47,711,192			48,097,517			46,989,204			48,610,206
Diluted earnings/(loss) per common share	$	1.43		$	(1.41)		$	0.80		$	0.46		$	0.33		$	1.28		$	3.54
Diluted earnings/(loss) per common share, adjusted	$	1.43		$	1.59		$	0.80		$	0.62		$	0.65		$	4.43		$	3.85

Average total assets	$	32,212,087		$	31,215,173		$	29,750,852		$	29,250,482		$	29,732,000		$	30,613,195		$	29,537,344
Return on average assets	0.88		%	(0.78)		%	0.56		%	0.36		%	0.27		%	0.25		%	0.64		%
Return on average assets, adjusted	0.88		%	1.00		%	0.57		%	0.47		%	0.47		%	0.74		%	0.69		%

Average common equity	$	3,120,933		$	2,945,238		$	2,857,661		$	2,896,329		$	2,794,589		$	2,955,467		$	2,794,964
Return on average common equity	8.50		%	(8.87)		%	5.26		%	3.03		%	2.25		%	2.04		%	6.15		%
Return on average common equity, adjusted	8.50		%	10.04		%	5.31		%	4.11		%	4.41		%	7.05		%	6.70		%

Efficiency ratio(4)	60.7		%	155.8		%	70.6		%	79.0		%	81.9		%	81.3		%	70.4		%
Efficiency ratio, adjusted(4)	60.7		%	62.3		%	70.4		%	75.1		%	73.8		%	66.8		%	68.5		%

Average earning assets	$	31,033,803		$	29,975,318		$	28,573,791		$	28,192,019		$	28,611,646		$	29,449,530		$	28,457,737
Non-interest income to average earning assets	0.69		%	(1.52)		%	0.71		%	0.59		%	0.43		%	0.11		%	0.57		%
Non-interest income to average earning assets, adjusted	0.69		%	0.86		%	0.71		%	0.59		%	0.43		%	0.72		%	0.57		%
Non-interest expense to average earning assets	2.21		%	2.59		%	2.65		%	2.89		%	2.79		%	2.57		%	2.66		%
Non-interest expense to average earning assets, adjusted	2.21		%	2.52		%	2.65		%	2.74		%	2.52		%	2.52		%	2.59		%