Texas Capital Bancshares (TCBI) 8-K Texas Capital Bancshares Announces Operating Results for Q3 2009

Exhibit 99.1

FOR IMMEDIATE RELEASE
October 21, 2009

INVESTOR CONTACT
Myrna Vance, 214.932.6646
myrna.vance@texascapitalbank.com

TEXAS CAPITAL BANCSHARES ANNOUNCES OPERATING RESULTS FOR Q3 2009

DALLAS — October 21, 2009 — Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced earnings and operating results for the third quarter of 2009.

• Loans held for investment increased 2% and total loans increased 2% on a linked quarter basis and grew 12% and 16%, respectively, from Q3 2008

• Demand deposits grew 10% and total deposits increased 7% on a linked quarter basis and grew 43% and 16%, respectively, from Q3 2008

• Net income before preferred dividends decreased 17% on a linked quarter basis and decreased 29% from Q3 2008

• EPS increased 150% on a linked quarter basis, due to the reduction in preferred stock dividends related to the TARP that was repaid in Q2, and decreased 44% from Q3 2008

“Our core earnings power improved, even in the overall economic downturn and the increased pressure on credit,” said George Jones, CEO. “Our growth in loans, demand deposits and the improvement in net interest margin are indicators of success in this challenging environment.”

FINANCIAL SUMMARY
(dollars and shares in thousands)

	Q3 2009			Q3 2008			% Change
QUARTERLY OPERATING RESULTS
Net Income	$	5,353		$	7,565			(29	)%
Diluted EPS	$	.15		$	.27			(44	)%
ROA		.40	%		.65	%
ROE		4.46	%		9.12	%
Diluted Shares		36,304			27,793

	Q3 2009		Q3 2008		% Change
BALANCE SHEET
Total Assets	$	5,317,851	$	4,742,043		12	%
Demand Deposits		802,692		561,227		43	%
Total Deposits		3,916,568		3,388,963		16	%
Loans Held for Investment		4,290,453		3,840,172		12	%
Total Loans		4,840,240		4,183,174		16	%
Stockholders’ Equity		474,044		380,858		24	%

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DETAILED FINANCIALS

Texas Capital Bancshares, Inc. reported net income from continuing operations of $5.4 million for the quarter ended September 30, 2009 compared to $7.6 million for the third quarter of 2008. On a fully diluted basis, earnings per common share from continuing operations were $.15 for the three months ended September 30, 2009, compared to $.27 for the same quarter last year. The discussion below relates only to continuing operations.

Return on average equity was 4.46 percent and return on average assets was .40 percent for the third quarter of 2009, compared to 9.12 percent and .65 percent, respectively for the third quarter of 2008. The reduction in the ROE resulted from the 24 percent increase in stockholders’ equity from two equity offerings since September 2008 and reduced earnings.

Net interest income was $51.6 million for the third quarter of 2009, compared to $38.3 million for the third quarter of 2008. The increase was due to an increase in average earning assets of $645.3 million over levels reported in the third quarter of 2008. The increase in average earning assets included a $482.9 million increase in average loans held for investment and an increase of $251.8 million in average loans held for sale, offset by a decrease of $80.0 million in average securities.

The net interest margin in the third quarter of 2009 was 4.06 percent, a 59 basis point increase from the third quarter of 2008 and an 18 basis point increase from the second quarter of 2009 due to low funding costs and our ability to maintain and improve yields on our earning assets.

Average total deposits increased by $529.2 million from the third quarter of 2008 and increased by $664.5 million from the second quarter of 2009. For the same periods, the average balance of demand deposits increased by $196.6 million, or 35 percent, to $764.6 million from $567.9 million during the third quarter of 2008 and increased $40.1 million, or 6 percent, from the second quarter of 2009.

As a result of the overall economic downturn, we have experienced increases in levels of non-performing assets and exposure to credit losses. Provision for loan losses and valuation allowance related to OREO totaled $15.7 million in third quarter of 2009 compared to $4.0 million in the third quarter of 2008 and $11.0 million in the second quarter of 2009. The Company recorded a $13.5 million provision for loan losses in the third quarter of 2009, compared to $4.0 million in the third quarter of 2008 and $11.0 million in the second quarter of 2009. The third quarter provision resulted in an increase in the reserve to 1.59 percent of loans held for investment as compared to 1.07 percent at September 30, 2008, and 1.35 percent at the end of the second quarter of 2009. In management’s opinion, the reserve is adequate and is derived from consistent application of the methodology for establishing the adequacy of reserves for Texas Capital Bank’s loan portfolio. In the third quarter of 2009, net charge-offs were $2.0 million, compared to net charge-offs of $1.5 million in the third quarter of 2008 and net charge-offs of $6.8 million in the second quarter of 2009. Non-accrual loans were $85.3 million, or 1.99 percent, of loans at the end of the third quarter of 2009, compared to $46.6 million, or 1.21 percent of loans at the end of the third quarter of 2008, and $49.6 million, or 1.18 percent of loans at the end of the second quarter of 2009. At September 30, 2009, total other real estate owned (OREO) was $34.7 million compared to $5.8 million at the end of the third quarter of 2008, and $31.4 million at the end of the second quarter of 2009. The balance of $34.7 million at September 30, 2009 is stated net of a valuation allowance for which the Company incurred a non-interest expense of $2.2 million during the third quarter of 2009.

Non-interest income for the third quarter of 2009 increased $2.2 million, or 45 percent, to $7.1 million from $4.9 million in the third quarter of 2008. The increase is primarily related to a $1.1 million increase in brokered loan fees and a $497,000 increase in service charge income, offset by a $234,000 decrease in trust fee income. Additionally, other non-interest income increased $1.0 million due to a $1.0 million charge associated with customer fraud on certain mortgage loans that was recorded in other non-interest income in the third quarter of 2008.

Non-interest expense for the third quarter of 2009 increased $9.4 million, or 34 percent, to $37.1 million from $27.7 million in the third quarter of 2008. The increase is primarily related to a $3.6 increase in salaries and

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employee benefits to $19.6 million from $16.0 million, which was primarily due to general business growth. Valuation allowance for foreclosed assets and other carrying costs expense increased $2.2 million related to establishing a valuation allowance of $2.2 million. The expense related to the valuation allowance increased our efficiency ratio from 59.4 percent to 63.1 percent for the third quarter. Additionally, legal and professional expense and FDIC assessment expense increased $916,000 and $1.0 million, respectively, from the third quarter 2008.

Stockholders’ equity increased by 24 percent from $380.9 million in September 2008 to $474.0 million at the end of the third quarter of 2009. Contributing to the increase was retained net income of $21.4 million and proceeds of sales of common stock totaling $114.4 million. The Bank is well capitalized under regulatory guidelines and at September 30, 2009, the Company’s ratio of tangible common equity to total tangible assets was 8.7 percent.

ABOUT TEXAS CAPITAL BANCSHARES, INC.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and private clients. Headquartered in Dallas, the Bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio.

This release contains forward-looking statements, which are subject to risks and uncertainties. A number of factors, many of which are beyond Texas Capital Bancshares’ control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These risks and uncertainties include the risk of adverse impacts from general economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. These and other factors that could cause results to differ materially from those described in the forward-looking statements can be found in theForm 10-K and other filings made by Texas Capital Bancshares with the Securities and Exchange Commission.

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TEXAS CAPITAL BANCSHARES, INC.

SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
(Dollars in thousands except per share data)

	3rd Quarter			2nd Quarter			1st Quarter			4th Quarter			3rd Quarter
	2009			2009			2009			2008			2008
CONSOLIDATED STATEMENT OF INCOME
Interest income	$	62,197		$	60,013		$	55,806		$	58,873		$	62,240
Interest expense		10,631			11,211			14,589			20,161			23,974
Net interest income		51,566			48,802			41,217			38,712			38,266
Provision for loan losses		13,500			11,000			8,500			11,000			4,000
Net interest income after provision for loan losses		38,066			37,802			32,717			27,712			34,266
Non-interest income		7,133			7,416			6,900			5,950			4,885
Non-interest expense		37,067			35,373			30,306			28,443			27,675
Income from continuing operations before income taxes		8,132			9,845			9,311			5,219			11,476
Income tax expense		2,779			3,363			3,186			1,732			3,911
Income from continuing operations		5,353			6,482			6,125			3,487			7,565
Loss from discontinued operations (after-tax)		(41	)		(44	)		(95	)		(100	)		(252	)
Net income		5,312			6,438			6,030			3,387			7,313
Preferred stock dividends		—			4,453			930			—			—
Net income available to common shareholders	$	5,312		$	1,985		$	5,100		$	3,387		$	7,313
Diluted EPS from continuing operations	$	.15		$	.06		$	.17		$	.11		$	.27
Diluted EPS	$	.15		$	.06		$	.16		$	.11		$	.26
Diluted shares		36,303,975			33,866,237			31,072,444			31,037,610			27,792,938
CONSOLIDATED BALANCE SHEET DATA
Total assets	$	5,317,851		$	5,303,800		$	5,009,931		$	5,139,564		$	4,742,043
Loans held for investment		4,290,453			4,211,304			4,019,247			4,027,871			3,840,172
Loans held for sale		549,787			544,652			426,982			496,351			343,002
Securities		285,869			308,187			361,898			378,752			365,145
Demand deposits		802,692			730,034			608,939			587,161			561,227
Total deposits		3,916,568			3,643,582			3,010,960			3,333,187			3,388,963
Other borrowings		790,192			1,059,572			1,386,783			1,280,607			835,025
Long-term debt		113,406			113,406			113,406			113,406			113,406
Stockholders’ equity		474,044			464,026			471,990			387,073			380,858
End of period shares		35,802,485			35,688,661			31,014,575			30,971,189			30,844,202
Book value (excluding securities gains/losses)	$	13.05		$	12.87		$	12.64		$	12.44		$	12.33
Tangible book value (excluding securities gains/losses)	$	12.84		$	12.66		$	12.39		$	12.19		$	12.08
SELECTED FINANCIAL RATIOS
From continuing operations:
Net interest margin		4.06	%		3.88	%		3.39	%		3.41	%		3.47	%
Return on average assets		.40	%		.49	%		.48	%		.29	%		.65	%
Return on average equity		4.46	%		5.45	%		5.44	%		3.61	%		9.12	%
Non-interest income to earning assets		.56	%		.59	%		.56	%		.52	%		.44	%
Efficiency ratio		63.1	%		62.9	%		63.0	%		63.7	%		64.1	%
Non-interest expense to earning assets		2.91	%		2.80	%		2.48	%		2.49	%		2.49	%
From consolidated:
Net interest margin		4.06	%		3.88	%		3.39	%		3.41	%		3.47	%
Return on average assets		.40	%		.48	%		.47	%		.28	%		.63	%
Return on average equity		4.43	%		5.41	%		5.36	%		3.50	%		8.81	%
Tangible common equity to total tangible assets		8.7	%		8.6	%		7.8	%		7.4	%		7.9	%
Tier 1 capital ratio		11.2	%		11.2	%		11.9	%		10.0	%		10.5	%
Total capital ratio		12.5	%		12.3	%		13.0	%		10.9	%		11.4	%
Tier 1 leverage ratio		10.8	%		10.6	%		11.0	%		10.2	%		10.5	%

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Dollars in thousands)

	September 30,			September 30,			%
	2009			2008			Change
Assets
Cash and due from banks	$	60,365		$	64,738			(7	)%
Federal funds sold		240			3,050			(92	)%
Securities, available-for-sale		285,869			365,145			(22	)%
Loans held for sale		549,787			343,002			60	%
Loans held for sale from discontinued operations		589			648			(9	)%
Loans held for investment (net of unearned income)		4,290,453			3,840,172			12	%
Less: Allowance for loan losses		68,368			40,998			67	%
Loans held for investment, net		4,222,085			3,799,174			11	%
Premises and equipment, net		11,473			6,081			89	%
Accrued interest receivable and other assets		180,465			153,124			18	%
Goodwill and intangibles, net		7,567			7,729			(2	)%
Total assets	$	5,318,440		$	4,742,691			12	%
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Non-interest bearing	$	802,692		$	561,227			43	%
Interest bearing		2,720,011			2,143,944			27	%
Interest bearing in foreign branches		393,865			683,792			(42	)%
Total deposits		3,916,568			3,388,963			16	%
Accrued interest payable		2,516			5,508			(54	)%
Other liabilities		21,714			18,931			15	%
Federal funds purchased		616,029			240,405			156	%
Repurchase agreements		65,422			42,032			56	%
Other short-term borrowings		108,741			552,588			(80	)%
Trust preferred subordinated debentures		113,406			113,406			—
Total liabilities		4,844,396			4,368,833			11	%
Stockholders’ equity:
Common stock, $.01 par value:
Authorized shares — 100,000,000
Issued shares — 35,802,485 and 30,844,202 at September 30, 2009 and 2008, respectively		358			308			16	%
Additional paid-in capital		324,724			253,599			28	%
Retained earnings		142,248			126,464			12	%
Treasury stock (shares at cost: 417 at September 30, 2009 and 84,691 at September 30, 2008)		(8	)		(581	)		(99	)%
Deferred compensation		—			573			(100	)%
Accumulated other comprehensive income, net of taxes		6,722			495			N/M
Total stockholders’ equity		474,044			380,858			24	%
Total liabilities and stockholders’ equity	$	5,318,440		$	4,742,691			12	%

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(Dollars in thousands except per share data)

	Three Months Ended						Nine Months Ended
	September 30						September 30
	2009			2008			2009			2008
Interest income
Interest and fees on loans	$	58,959		$	57,909		$	167,326		$	176,195
Securities		3,226			4,281			10,621			13,691
Federal funds sold		5			40			29			141
Deposits in other banks		7			10			40			30
Total interest income		62,197			62,240			178,016			190,057
Interest expense
Deposits		8,916			18,338			29,264			56,777
Federal funds purchased		586			2,273			1,944			7,186
Repurchase agreements		14			86			42			462
Other borrowings		125			1,791			1,873			7,770
Trust preferred subordinated debentures		990			1,486			3,308			4,837
Total interest expense		10,631			23,974			36,431			77,032
Net interest income		51,566			38,266			141,585			113,025
Provision for loan losses		13,500			4,000			33,000			15,750
Net interest income after provision for loan losses		38,066			34,266			108,585			97,275
Non-interest income
Service charges on deposit accounts		1,658			1,161			4,797			3,566
Trust fee income		1,000			1,234			2,836			3,656
Bank owned life insurance (BOLI) income		418			299			1,115			925
Brokered loan fees		2,120			1,024			6,822			2,168
Equipment rental income		1,291			1,487			4,200			4,513
Other		646			(320	)		1,679			1,692
Total non-interest income		7,133			4,885			21,449			16,520
Non-interest expense
Salaries and employee benefits		19,569			16,039			53,788			46,750
Net occupancy expense		3,164			2,300			9,305			7,097
Leased equipment depreciation		1,050			1,153			3,288			3,525
Marketing		705			521			1,915			1,847
Legal and professional		3,274			2,358			8,816			6,829
Communications and data processing		935			858			2,750			2,482
FDIC insurance assessment		1,452			432			6,492			1,154
Allowance and other carrying costs for OREO		2,390			239			3,968			668
Other		4,528			3,775			12,424			10,856
Total non-interest expense		37,067			27,675			102,746			81,208
Income from continuing operations before income taxes		8,132			11,476			27,288			32,587
Income tax expense		2,779			3,911			9,328			11,192
Income from continuing operations		5,353			7,565			17,960			21,395
Loss from discontinued operations (after-tax)		(41	)		(252	)		(180	)		(516	)
Net income		5,312			7,313			17,780			20,879
Preferred stock dividends		—			—			5,383			—
Net income available to common stockholders	$	5,312		$	7,313		$	12,397		$	20,879
Basic earnings per common share:
Income from continuing operations	$	.15		$	.27		$	.38		$	.79
Net income	$	.15		$	.26		$	.37		$	.77
Diluted earnings per common share:
Income from continuing operations	$	.15		$	.27		$	.37		$	.79
Net income	$	.15		$	.26		$	.37		$	.77

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TEXAS CAPITAL BANCSHARES, INC.

SUMMARY OF LOAN LOSS EXPERIENCE
(Dollars in thousands)

	3rd Quarter			2nd Quarter			1st Quarter			4th Quarter			3rd Quarter
	2009			2009			2009			2008			2008
Beginning balance	$	56,893		$	52,727		$	46,835		$	40,998		$	38,460
Loans charged-off:
Commercial		115			92			1,695			535			592
Real estate — construction		576			1,821			60			1,195			553
Real estate — term		1,239			1,250			236			3,432			267
Consumer		80			—			419			64			129
Leases		72			3,724			226			—			—
Total		2,082			6,887			2,636			5,226			1,541
Recoveries:
Commercial		21			48			21			43			27
Consumer		16			5			—			—			13
Leases		20			—			—			—			12
Real estate — construction		—			—			7			—			—
Real estate — term		—			—			—			20			27
Total recoveries		57			53			28			63			79
Net charge-offs		2,025			6,834			2,608			5,163			1,462
Provision for loan losses		13,500			11,000			8,500			11,000			4,000
Ending balance	$	68,368		$	56,893		$	52,727		$	46,835		$	40,998
Reserve to loans held for investment(2)		1.59	%		1.35	%		1.31	%		1.16	%		1.07	%
Reserve to average loans held for investment(2)		1.60	%		1.38	%		1.31	%		1.21	%		1.08	%
Net charge-offs to average loans(1)(2)		.19	%		.66	%		.26	%		.53	%		.15	%
Net charge-offs to average loans for last twelve months(1)(2)		.41	%		.41	%		.34	%		.35	%		.28	%
Provision for loan losses to average loans(1)(2)		1.26	%		1.07	%		.85	%		1.13	%		.42	%
Non-performing assets (NPAs): (4)
Non-accrual loans	$	85,270		$	49,592		$	50,683		$	47,499		$	46,579
Other real estate owned (OREO) (5)		34,671			31,404			27,501			25,904			5,792
Total	$	119,941		$	80,996		$	78,184		$	73,403		$	52,371
Non-accrual loans to loans(2)		1.99	%		1.18	%		1.26	%		1.18	%		1.21	%
Total NPAs to loans plus OREO		2.77	%		1.91	%		1.93	%		1.81	%		1.36	%
Reserve to non-accrual loans		.8	x		1.1	x		1.0	x		1.0	x		.9	x
Loans past due 90 days and still accruing(3)	$	7,569		$	3,539		$	4,637		$	4,115		$	2,970
Loans past due 90 days to loans(2)		.18	%		.08	%		.12	%		.10	%		.08	%

(1)	Interim period ratios are annualized.
(2)	Excludes loans held for sale.
(3)	At September 30, 2009, loans past due 90 days and still accruing includes premium finance loans of $2.6 million. These loans are primarily secured by obligations of insurance carriers to refund premiums on cancelled insurance policies. The refund of premiums from the insurance carriers can take 180 days or longer from the cancellation date.
(4)	At September 30, 2009, non-performing assets include $3.1 million of mortgage warehouse loans which were transferred to the loans held for investment portfolio at lower of cost or market, and some were subsequently moved to other real estate owned.
(5)	At September 30, 2009, OREO balance is net of $2.2 million valuation allowance.

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
(Dollars in thousands)

	3rd Quarter			2nd Quarter			1st Quarter			4th Quarter			3rd Quarter
	2009			2009			2009			2008			2008
Interest income
Interest and fees on loans	$	58,959		$	56,455		$	51,912		$	54,814		$	57,909
Securities		3,226			3,544			3,851			4,031			4,281
Federal funds sold		5			9			15			27			40
Deposits in other banks		7			5			28			1			10
Total interest income		62,197			60,013			55,806			58,873			62,240
Interest expense
Deposits		8,916			8,769			11,579			16,075			18,338
Federal funds purchased		586			740			618			1,046			2,273
Repurchase agreements		14			14			14			79			86
Other borrowings		125			570			1,178			1,353			1,791
Trust preferred subordinated debentures		990			1,118			1,200			1,608			1,486
Total interest expense		10,631			11,211			14,589			20,161			23,974
Net interest income		51,566			48,802			41,217			38,712			38,266
Provision for loan losses		13,500			11,000			8,500			11,000			4,000
Net interest income after provision for loan losses		38,066			37,802			32,717			27,712			34,266
Non-interest income
Service charges on deposit accounts		1,658			1,614			1,525			1,133			1,161
Trust fee income		1,000			952			884			1,036			1,234
Bank owned life insurance (BOLI) income		418			423			274			315			299
Brokered loan fees		2,120			2,670			2,032			1,074			1,024
Equipment rental income		1,291			1,453			1,456			1,482			1,487
Other		646			304			729			910			(320	)
Total non-interest income		7,133			7,416			6,900			5,950			4,885
Non-interest expense
Salaries and employee benefits		19,569			18,000			16,219			14,688			16,039
Net occupancy expense		3,164			3,387			2,754			2,534			2,300
Leased equipment depreciation		1,050			1,115			1,123			1,142			1,153
Marketing		705			655			555			882			521
Legal and professional		3,274			3,291			2,251			2,793			2,358
Communications and data processing		935			979			836			832			858
FDIC insurance assessment		1,452			3,493			1,547			643			432
Allowance and other carrying costs for OREO		2,390			378			1,200			873			239
Other		4,528			4,075			3,821			4,056			3,775
Total non-interest expense		37,067			35,373			30,306			28,443			27,675
Income from continuing operations before income taxes		8,132			9,845			9,311			5,219			11,476
Income tax expense		2,779			3,363			3,186			1,732			3,911
Income from continuing operations		5,353			6,482			6,125			3,487			7,565
Loss from discontinued operations (after-tax)		(41	)		(44	)		(95	)		(100	)		(252	)
Net income		5,312			6,438			6,030			3,387			7,313
Preferred stock dividends		—			4,453			930			—			—
Net income available to common stockholders	$	5,312		$	1,985		$	5,100		$	3,387		$	7,313

9

TEXAS CAPITAL BANCSHARES, INC.

QUARTERLY FINANCIAL SUMMARY — UNAUDITED
Consolidated Daily Average Balances, Average Yields and Rates
Continuing Operations
(Dollars in thousands)

	3rd Quarter 2009							2nd Quarter 2009							1st Quarter 2009							4th Quarter 2008							3rd Quarter 2008
	Average		Revenue/		Yield/			Average		Revenue/		Yield/			Average		Average		Average			Average		Revenue/		Yield/			Average		Revenue/		Yield/
	Balance		Expense(1)		Rate			Balance		Expense(1)		Rate			Balance		Balance		Balance			Balance		Expense(1)		Rate			Balance		Expense(1)		Rate
Assets
Securities — Taxable	$	247,936	$	2,813		4.50	%	$	280,372	$	3,124		4.47	%	$	321,802	$	3,431		4.32	%	$	313,992	$	3,610		4.57	%	$	325,317	$	3,852		4.71	%
Securities — Non-taxable(2)		44,642		635		5.64	%		45,901		646		5.64	%		46,055		646		5.69	%		46,272		648		5.57	%		47,271		660		5.55	%
Federal funds sold		6,782		5		0.29	%		5,649		9		0.64	%		14,923		15		0.41	%		23,050		27		0.47	%		8,001		40		1.99	%
Deposits in other banks		12,649		7		0.22	%		12,268		5		0.16	%		11,207		28		1.01	%		5,761		1		0.07	%		2,554		10		1.56	%
Loans held for sale		539,889		6,881		5.06	%		656,462		7,775		4.75	%		587,401		6,487		4.48	%		316,409		4,441		5.58	%		288,103		4,137		5.71	%
Loans held for investment		4,264,202		52,078		4.85	%		4,124,937		48,680		4.73	%		4,022,180		45,425	��	4.58	%		3,875,586		50,373		5.17	%		3,781,289		53,772		5.66	%
Less reserve for loan losses		56,429		—		—			51,601		—		—			46,686		—		—			38,145		—		—			38,180		—		—
Loans, net of reserve		4,747,662		58,959		4.93	%		4,729,798		56,455		4.79	%		4,562,895		51,912		4.61	%		4,153,850		54,814		5.25	%		4,031,212		57,909		5.71	%
Total earning assets		5,059,671		62,419		4.89	%		5,073,988		60,239		4.76	%		4,956,882		56,032		4.58	%		4,542,925		59,100		5.18	%		4,414,355		62,471		5.63	%
Cash and other assets		245,564							251,960							238,723							218,335							201,589
Total assets	$	5,305,235						$	5,325,948						$	5,195,605						$	4,761,260						$	4,615,944
Liabilities and Stockholders’ Equity
Transaction deposits	$	144,944	$	58		0.16	%	$	135,756	$	55		0.16	%	$	129,850	$	44		0.14	%	$	103,111	$	67		0.26	%	$	103,905	$	122		0.47	%
Savings deposits		1,377,712		3,090		0.89	%		974,275		2,003		0.82	%		745,355		1,420		0.77	%		729,337		2,350		1.28	%		778,956		3,371		1.72	%
Time deposits		1,284,220		4,245		1.31	%		1,082,691		5,105		1.89	%		1,277,824		8,066		2.56	%		1,405,426		10,603		3.00	%		1,275,798		10,524		3.28	%
Deposits in foreign branches		404,545		1,523		1.49	%		394,251		1,606		1.63	%		444,549		2,049		1.87	%		555,573		3,055		2.19	%		720,211		4,321		2.39	%
Total interest bearing deposits		3,211,421		8,916		1.10	%		2,586,973		8,769		1.36	%		2,597,578		11,579		1.81	%		2,793,447		16,075		2.29	%		2,878,870		18,338		2.53	%
Other borrowings		724,127		725		0.40	%		1,404,881		1,324		0.38	%		1,367,691		1,810		0.54	%		881,868		2,478		1.12	%		709,157		4,150		2.33	%
Trust preferred subordinated debentures		113,406		990		3.46	%		113,406		1,118		3.95	%		113,406		1,200		4.29	%		113,406		1,608		5.64	%		113,406		1,486		5.21	%
Total interest bearing liabilities		4,048,954		10,631		1.04	%		4,105,260		11,211		1.10	%		4,078,675		14,589		1.45	%		3,788,721		20,161		2.12	%		3,701,433		23,974		2.58	%
Demand deposits		764,557							724,487							636,704							566,513							567,914
Other liabilities		15,617							18,899							23,619							21,323							16,452
Stockholders’ equity		476,107							477,302							456,607							384,703							330,145
Total liabilities and stockholders’ equity	$	5,305,235						$	5,325,948						$	5,195,605						$	4,761,260						$	4,615,944
Net interest income			$	51,788						$	49,028						$	41,443						$	38,939						$	38,497
Net interest margin						4.06	%						3.88	%						3.39	%						3.41	%						3.47	%

(1)	The loan averages include loans on which the accrual of interest has been discontinued and are stated net of unearned income.
(2)	Taxable equivalent rates used where applicable.

10