Texas Capital Bancshares (TCBI) 8-K Texas Capital Bancshares Announces Operating Results for Q2 2012

Exhibit 99.1

FOR IMMEDIATE RELEASE

July 25, 2012

INVESTOR CONTACT

Myrna Vance, 214.932.6646

myrna.vance@texascapitalbank.com

TEXAS CAPITAL BANCSHARES ANNOUNCES OPERATING RESULTS FOR Q2 2012

DALLAS – July 25, 2012 – Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, announced earnings and operating results for the second quarter of 2012.

• Net income increased 9% on a linked quarter basis and increased 77% from Q2 2011

• EPS increased 9% on a linked quarter basis and increased 73% for the second quarter of 2012 as compared to the same quarter of 2011

• Demand deposits increased 15% and total deposits increased 10% on a linked quarter basis and grew 36% and 23%, respectively, from Q2 2011

• Loans held for investment increased 8% and total loans increased 7% on a linked quarter basis; and grew 21% and 37%, respectively, from Q2 2011

“This has been another outstanding quarter for Texas Capital,” said George Jones, CEO. “Along with achieving dramatic improvements in ROE and ROA, we experienced good growth in total loans, deposits and earnings and have a strong pipeline in place to continue that trend.”

FINANCIAL SUMMARY

(dollars and shares in thousands)

	Q2 2012			Q2 2011			% Change
QUARTERLY OPERATING RESULTS(1)
Net Income	$	29,623		$	16,708			77	%
Diluted EPS	$	.76		$	.44			73	%
ROA		1.40	%		1.08	%
ROE		18.08	%		12.13	%
Diluted Shares		39,142			38,333
BALANCE SHEET(1)
Total Assets	$	9,144,360		$	6,709,338			36	%
Demand Deposits		2,019,473			1,483,159			36	%
Total Deposits		6,660,290			5,421,726			23	%
Loans Held for Investment		6,234,692			5,164,293			21	%
Total Loans		8,642,724			6,286,623			37	%
Stockholders’ Equity		680,705			563,924			21	%

(1) Operating results, assets and loans are reporting from continuing operations

DETAILED FINANCIALS

Texas Capital Bancshares, Inc. reported net income from continuing operations of $29.6 million for the quarter ended June 30, 2012 compared to $16.7 million for the second quarter of 2011. On a fully diluted basis, earnings per common share from continuing operations were $.76 for the three months ended June 30, 2012, compared to $.44 for the same period last year. The discussion below relates only to continuing operations.

Return on average equity was 18.08 percent and return on average assets was 1.40 percent for the second quarter of 2012, compared to 12.13 percent and 1.08 percent, respectively, for the second quarter of 2011.

Net interest income was $90.6 million for the second quarter of 2012, compared to $88.2 million in the first quarter of 2012 and $71.1 million for the second quarter of 2011. The net interest margin in the second quarter of 2012 was 4.49 percent, a 37 basis point decrease from the second quarter of 2011 and a 5 basis point decrease from the first quarter of 2012. The year over year decrease in net interest margin is due to the growth in loans with incremental yields that are less than the prior year net interest margin with an offsetting benefit of the reduction in funding costs. The growth in loans more than compensated for the reduction in yields and produced the strong growth in net interest income.

Average loans held for investment for the second quarter of 2012 were $6.0 billion, an increase of $1.1 billion from the second quarter of 2011 and an increase of $289.9 million from the first quarter of 2012. Average loans held for sale for the second quarter of 2012 increased $1.3 billion compared to the second quarter of 2011 and increased $25.8 million from the first quarter of 2012.

Average total deposits for the second quarter of 2012 increased $999.7 million from the second quarter of 2011 and increased $417.2 million from the first quarter of 2012. For the same periods, the average balance of demand deposits increased $409.1 million, or 28 percent, to $1.9 billion from $1.5 billion during the second quarter of 2011 and increased $164.1 million, or 10 percent, from the first quarter of 2012.

In the second quarter of 2012, we experienced decreases in the ratios of non-performing assets and credit losses to loans held for investment. Credit costs, including the provision for credit losses and valuation charges related to other real estate owned (“OREO”) totaled $4.1 million in the second quarter of 2012 compared to $8.7 million in the second quarter of 2011 and $5.7 million in the first quarter of 2012. We recorded a $1.0 million provision for credit losses in the second quarter of 2012 compared to $8.0 million in the second quarter of 2011 and $3.0 million in the first quarter of 2012. At June 30, 2012, the combined reserve decreased to 1.21 percent of loans held for investment as compared to 1.34 percent at June 30, 2011 and 1.29 percent at March 31, 2012. In management’s opinion, the reserve is appropriate and is derived from consistent application of the methodology for establishing the adequacy of reserves for Texas Capital Bank’s loan portfolio. In the second quarter of 2012, net charge-offs were $533,000, compared to net charge-offs of $10.5 million in the second quarter of 2011 and net charge-offs of $828,000 in the first quarter of 2012. Non-accrual loans were $56.4 million, or .91 percent of loans held for investment at the end of the second quarter of 2012, $77.9 million, or 1.51 percent, at the end of the second quarter of 2011 and $50.2 million, or .87 percent, at the end of the first quarter 2012. At June 30, 2012, total OREO was $27.9 million compared to $27.3 million at the end of the second quarter of 2011, and $32.6 million at the end of the first quarter of 2012. The OREO balance of $27.9 million at June 30, 2012 is stated net of a $9.0 million valuation allowance. The valuation charge for OREO reflected in non-interest expense was $3.1 million in the second quarter of 2012 compared to $725,000 in the second quarter of 2011 and $2.7 million in the first quarter of 2012. We realized a profit of $433,000 on sales of OREO during the second quarter of 2012, which is included in non-interest income, but offsets the OREO valuation expense of $3.1 million included in non-interest expense during the quarter.

Non-interest income increased $2.5 million during the second quarter of 2012, or 32 percent, compared to the same period of 2011 primarily related to a $1.6 million increase in brokered loan fees earned in the mortgage warehouse lending division.

2

Non-interest expense for the second quarter of 2012 increased $8.7 million, or 19 percent, to $54.0 million from $45.3 million in the second quarter of 2011. The increase is primarily related to a $6.1 million increase in salaries and employee benefits to $30.2 million from $24.1 million, which was primarily due to general business growth and costs of performance-based incentives resulting from the increase in stock price. Allowance and other carrying costs for OREO expense increased $2.8 million to $3.8 million, which included a $3.1 million valuation expense during the second quarter of 2012. Of the $3.1 million valuation expense in the second quarter of 2012, $2.7 million related to increasing the valuation allowance and $423,000 related to direct write-downs of the OREO balance, compared to $725,000 related to direct write-downs in the same period of 2011.

Stockholders’ equity increased by 21 percent from $563.9 million at June 30, 2011 to $680.7 million at June 30, 2012, primarily related to retained net income. The Bank is well capitalized under regulatory guidelines and at June 30, 2012, the Company’s ratio of tangible common equity to total tangible assets was 7.2 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 news release may be deemed to include forward-looking statements which are based on Texas Capital’s current estimates or expectations of future events or future results. Texas Capital is under no obligation, and expressly disclaims such obligation, to update, alter or revise its forward-looking statements, whether as a result of new information, future events, or otherwise. A number of factors, many of which are beyond Texas Capital’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, 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 the prospectus supplement relating to the offering and the Annual Report on Form 10-K and other filings made by Texas Capital with the Securities and Exchange Commission (SEC).

This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

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TEXAS CAPITAL BANCSHARES, INC.

SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)

(Dollars in thousands except per share data)

	2nd Quarter 2012			1st Quarter 2012			4th Quarter 2011			3rd Quarter 2011			2nd Quarter 2011
CONSOLIDATED STATEMENT OF INCOME
Interest income	$	95,546		$	93,131		$	92,967		$	83,263		$	75,259
Interest expense		4,906			4,902			4,820			4,065			4,165
Net interest income		90,640			88,229			88,147			79,198			71,094
Provision for credit losses		1,000			3,000			6,000			7,000			8,000
Net interest income after provision for credit losses		89,640			85,229			82,147			72,198			63,094
Non-interest income		10,462			9,190			8,994			7,603			7,951
Non-interest expense		53,973			52,276			50,353			46,186			45,263
Income from continuing operations before income taxes		46,129			42,143			40,788			33,615			25,782
Income tax expense		16,506			15,062			15,043			11,905			9,074
Income from continuing operations		29,623			27,081			25,745			21,710			16,708
Income (loss) from discontinued operations (after-tax)		(1	)		4			(5	)		(7	)		(54	)
Net income	$	29,622		$	27,085		$	25,740		$	21,703		$	16,654
Diluted EPS from continuing operations	$	.76		$	.70		$	.67		$	.56		$	.44
Diluted EPS	$	.76		$	.70		$	.67		$	.56		$	.43
Diluted shares		39,141,544			38,914,241			38,609,094			38,435,386			38,332,888
CONSOLIDATED BALANCE SHEET DATA
Total assets	$	9,144,360		$	8,559,917		$	8,137,225		$	7,705,372		$	6,709,338
Loans held for investment		6,234,692			5,792,349			5,572,371			5,302,584			5,164,293
Loans held for sale		2,408,032			2,255,281			2,080,081			1,909,567			1,122,330
Securities		114,964			123,828			143,710			142,895			157,821
Demand deposits		2,019,473			1,751,443			1,751,944			1,661,125			1,483,159
Total deposits		6,660,290			6,063,558			5,556,257			5,486,463			5,421,726
Other borrowings		1,609,039			1,657,728			1,768,116			1,451,894			561,902
Long-term debt		113,406			113,406			113,406			113,406			113,406
Stockholders’ equity		680,705			647,341			616,331			587,944			563,924
End of period shares outstanding		38,114,012			37,912,054			37,666,291			37,457,762			37,329,726
Book value (excluding securities gains/losses)	$	17.75		$	16.96		$	16.24		$	15.56		$	14.97
Tangible book value (excluding securities gains/losses)	$	17.22		$	16.42		$	15.69		$	15.01		$	14.41
SELECTED FINANCIAL RATIOS
From continuing operations
Net interest margin		4.49	%		4.54	%		4.60	%		4.81	%		4.86	%
Return on average assets		1.40	%		1.33	%		1.28	%		1.25	%		1.08	%
Return on average equity		18.08	%		17.36	%		17.05	%		14.93	%		12.13	%
Non-interest income to earning assets		.52	%		.47	%		.47	%		.46	%		.54	%
Efficiency ratio		53.4	%		53.7	%		51.8	%		53.2	%		57.3	%
Efficiency ratio (excluding OREO valuation/write-down)		50.3	%		50.8	%		50.7	%		51.3	%		56.3	%
Non-interest expense to earning assets		2.67	%		2.69	%		2.62	%		2.80	%		3.08	%
Non-interest expense to earning assets (excluding OREO valuation charge)		2.52	%		2.55	%		2.57	%		2.70	%		3.03	%
Tangible common equity to total tangible assets		7.2	%		7.3	%		7.3	%		7.3	%		8.0	%
Tier 1 capital ratio		9.5	%		9.5	%		9.6	%		9.7	%		10.2	%
Total capital ratio		10.5	%		10.4	%		10.6	%		10.7	%		11.3	%
Tier 1 leverage ratio		9.0	%		8.9	%		8.8	%		9.8	%		10.5	%

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in thousands)

	June 30, 2012			June 30, 2011			% Change
Assets
Cash and due from banks	$	93,377		$	70,751			32	%
Interest-bearing deposits		49,254			18,575			165	%
Federal funds sold		20			—			100	%
Securities, available-for-sale		114,964			157,821			(27	)%
Loans held for sale		2,408,032			1,122,330			115	%
Loans held for sale from discontinued operations		388			396			(2	)%
Loans held for investment (net of unearned income)		6,234,692			5,164,293			21	%
Less: Allowance for loan losses		72,404			67,748			7	%
Loans held for investment, net		6,162,288			5,096,545			21	%
Premises and equipment, net		12,037			12,118			(1	)%
Accrued interest receivable and other assets		284,207			210,406			35	%
Goodwill and intangibles, net		20,181			20,792			(3	)%
Total assets	$	9,144,748		$	6,709,734			36	%
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Non-interest bearing	$	2,019,473		$	1,483,159			36	%
Interest bearing		4,230,806			3,196,108			32	%
Interest bearing in foreign branches		410,011			742,459			(45	)%
Total deposits		6,660,290			5,421,726			23	%
Accrued interest payable		887			1,032			(14	)%
Other liabilities		80,421			47,744			68	%
Federal funds purchased		271,835			203,969			33	%
Repurchase agreements		22,148			14,634			51	%
Other borrowings		1,315,056			343,299			N/M
Trust preferred subordinated debentures		113,406			113,406			—
Total liabilities		8,464,043			6,145,810			38	%
Stockholders’ equity:
Preferred stock, $.01 par value, $1,000 liquidation value:
Authorized shares – 10,000,000
Issued shares		—			—			—
Common stock, $.01 par value:
Authorized shares – 100,000,000
Issued shares – 38,114,429 and 37,330,143 at June 30, 2012 and 2011, respectively		381			373			2	%
Additional paid-in capital		357,713			343,997			4	%
Retained earnings		318,490			214,340			49	%
Treasury stock (shares at cost: 417 at June 30, 2012 and 2011, respectively)		(8	)		(8	)		—
Accumulated other comprehensive income, net of taxes		4,129			5,222			(21	)%
Total stockholders’ equity		680,705			563,924			21	%
Total liabilities and stockholders’ equity	$	9,144,748		$	6,709,734			36	%

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(Dollars in thousands except per share data)

	Three Months Ended June 30						Six Months Ended June 30
	2012			2011			2012		2011
Interest income
Interest and fees on loans	$	94,291		$	73,509		$	186,065	$	141,549
Securities		1,203			1,680			2,510		3,526
Federal funds sold		4			5			5		33
Deposits in other banks		48			65			97		262
Total interest income		95,546			75,259			188,677		145,370
Interest expense
Deposits		3,482			3,417			6,954		8,288
Federal funds purchased		240			94			521		201
Repurchase agreements		4			2			7		4
Other borrowings		492			14			927		14
Trust preferred subordinated debentures		688			638			1,399		1,271
Total interest expense		4,906			4,165			9,808		9,778
Net interest income		90,640			71,094			178,869		135,592
Provision for credit losses		1,000			8,000			4,000		15,500
Net interest income after provision for credit losses		89,640			63,094			174,869		120,092
Non-interest income
Service charges on deposit accounts		1,624			1,608			3,228		3,391
Trust fee income		1,232			1,066			2,346		2,020
Bank owned life insurance (BOLI) income		588			539			1,109		1,062
Brokered loan fees		4,128			2,558			7,779		5,078
Equipment rental income		172			676			333		1,459
Other		2,718			1,504			4,857		2,625
Total non-interest income		10,462			7,951			19,652		15,635
Non-interest expense
Salaries and employee benefits		30,230			24,109			59,249		48,281
Net occupancy expense		3,679			3,443			7,283		6,753
Leased equipment depreciation		143			447			282		1,003
Marketing		3,174			2,733			5,997		4,856
Legal and professional		3,330			4,264			7,321		6,987
Communications and technology		2,720			2,584			5,203		4,931
FDIC insurance assessment		1,596			1,972			3,165		4,483
Allowance and other carrying costs for OREO		3,812			1,023			7,154		5,053
Other		5,289			4,688			10,595		9,315
Total non-interest expense		53,973			45,263			106,249		91,662
Income from continuing operations before income taxes		46,129			25,782			88,272		44,065
Income tax expense		16,506			9,074			31,568		15,418
Income from continuing operations		29,623			16,708			56,704		28,647
Income (loss) from discontinued operations (after-tax)		(1	)		(54	)		3		(114	)
Net income	$	29,622		$	16,654		$	56,707	$	28,533
Basic earnings per common share:
Income from continuing operations	$	.78		$	.45		$	1.50	$	.77
Net income	$	.78		$	.45		$	1.50	$	.77
Diluted earnings per common share:
Income from continuing operations	$	.76		$	.44		$	1.45	$	.75
Net income	$	.76		$	.43		$	1.45	$	.74

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TEXAS CAPITAL BANCSHARES, INC.

SUMMARY OF LOAN LOSS EXPERIENCE

(Dollars in thousands)

	2nd Quarter 2012			1st Quarter 2012			4th Quarter 2011			3rd Quarter 2011			2nd Quarter 2011
Reserve for loan losses:
Beginning balance	$	71,992		$	70,295		$	67,897		$	67,748		$	70,248
Loans charged-off:
Commercial		1,048			462			1,348			1,523			3,654
Real estate – construction		—			—			—			—			—
Real estate – term		56			559			2,438			5,049			6,424
Consumer		—			—			—			—			283
Leases		26			95			238			(16	)		464
Total		1,130			1,116			4,024			6,556			10,825
Recoveries:
Commercial		191			159			390			109			143
Real estate – construction		—			—			—			5			—
Real estate – term		348			108			45			152			122
Consumer		3			5			4			1			3
Leases		55			16			171			36			26
Total recoveries		597			288			610			303			294
Net charge-offs		533			828			3,414			6,253			10,531
Provision for loan losses		945			2,525			5,812			6,402			8,031
Ending balance	$	72,404		$	71,992		$	70,295		$	67,897		$	67,748
Reserve for off-balance sheet credit losses:
Beginning balance	$	2,937		$	2,462		$	2,274		$	1,676		$	1,707
Provision (benefit) for off-balance sheet credit losses		55			475			188			598			(31	)
Ending balance	$	2,992		$	2,937		$	2,462		$	2,274		$	1,676
Total reserves for credit losses	$	75,396		$	74,929		$	72,757		$	70,171		$	69,424
Total provision for credit losses	$	1,000		$	3,000		$	6,000		$	7,000		$	8,000
Reserve to loans held for investment(2)		1.16	%		1.24	%		1.26	%		1.28	%		1.31	%
Reserve to average loans held for investment(2)		1.22	%		1.27	%		1.30	%		1.30	%		1.39	%
Net charge-offs to average loans(1)(2)		.04	%		.06	%		.25	%		.48	%		.86	%
Net charge-offs to average loans for last twelve months(1)(2)		.20	%		.40	%		.58	%		.90	%		1.06	%
Total provision for credit losses to average loans(1)(2)		.07	%		.21	%		.44	%		.53	%		.66	%
Combined reserves for credit losses to loans held for investment(2)		1.21	%		1.29	%		1.31	%		1.32	%		1.34	%
Non-performing assets (NPAs):
Non-accrual loans	$	56,433		$	50,160		$	54,580		$	66,714		$	77,884
Other real estate owned (OREO) (4)		27,882			32,601			34,077			35,796			27,285
Total	$	84,315		$	82,761		$	88,657		$	102,510		$	105,169
Non-accrual loans to loans(2)		.91	%		.87	%		.98	%		1.26	%		1.51	%
Total NPAs to loans plus OREO(2)		1.35	%		1.42	%		1.58	%		1.92	%		2.03	%
Total NPAs to earning assets(2)		.97	%		1.01	%		1.14	%		1.40	%		1.64	%
Reserve for loan losses to non-accrual loans		1.3x			1.4x			1.3x			1.0x			.9x
Restructured loans	$	13,943		$	12,582		$	25,104		$	24,963		$	23,540
Loans past due 90 days and still accruing(3)	$	4,421		$	5,941		$	5,467		$	3,003		$	10,333
Loans past due 90 days to loans(2)		.07	%		.10	%		.10	%		.06	%		.20	%

(1) Interim period ratios are annualized.

(2) Excludes loans held for sale.

(3) At June 30, 2012, loans past due 90 days and still accruing includes premium finance loans of $3.2 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 June 30, 2012, OREO balance is net of $9.0 million valuation allowance.

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TEXAS CAPITAL BANCSHARES, INC.

CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)

(Dollars in thousands)

	2nd Quarter 2012			1st Quarter 2012		4th Quarter 2011			3rd Quarter 2011			2nd Quarter 2011
Interest income
Interest and fees on loans	$	94,291		$	91,774	$	91,512		$	81,692		$	73,509
Securities		1,203			1,307		1,408			1,524			1,680
Federal funds sold		4			1		1			3			5
Deposits in other banks		48			49		46			44			65
Total interest income		95,546			93,131		92,967			83,263			75,259
Interest expense
Deposits		3,482			3,472		3,471			3,191			3,417
Federal funds purchased		240			281		273			128			94
Repurchase agreements		4			3		4			2			2
Other borrowings		492			435		404			110			14
Trust preferred subordinated debentures		688			711		668			634			638
Total interest expense		4,906			4,902		4,820			4,065			4,165
Net interest income		90,640			88,229		88,147			79,198			71,094
Provision for credit losses		1,000			3,000		6,000			7,000			8,000
Net interest income after provision for credit losses		89,640			85,229		82,147			72,198			63,094
Non-interest income
Service charges on deposit accounts		1,624			1,604		1,504			1,585			1,608
Trust fee income		1,232			1,114		1,108			1,091			1,066
Bank owned life insurance (BOLI) income		588			521		500			533			539
Brokered loan fees		4,128			3,651		3,408			2,849			2,558
Equipment rental income		172			161		223			223			676
Other		2,718			2,139		2,251			1,322			1,504
Total non-interest income		10,462			9,190		8,994			7,603			7,951
Non-interest expense
Salaries and employee benefits		30,230			29,019		26,658			25,596			24,109
Net occupancy expense		3,679			3,604		3,537			3,367			3,443
Leased equipment depreciation		143			139		198			281			447
Marketing		3,174			2,823		3,798			2,455			2,733
Legal and professional		3,330			3,991		4,362			3,647			4,264
Communications and technology		2,720			2,483		2,468			2,210			2,584
FDIC insurance assessment		1,596			1,569		1,595			1,465			1,972
Allowance and other carrying costs for OREO		3,812			3,342		2,383			2,150			1,023
Other		5,289			5,306		5,354			5,015			4,688
Total non-interest expense		53,973			52,276		50,353			46,186			45,263
Income from continuing operations before income taxes		46,129			42,143		40,788			33,615			25,782
Income tax expense		16,506			15,062		15,043			11,905			9,074
Income from continuing operations		29,623			27,081		25,745			21,710			16,708
Income (loss) from discontinued operations (after-tax)		(1	)		4		(5	)		(7	)		(54	)
Net income	$	29,622		$	27,085	$	25,740		$	21,703		$	16,654

8

TEXAS CAPITAL BANCSHARES, INC.

QUARTERLY FINANCIAL SUMMARY – UNAUDITED

Consolidated Daily Average Balances, Average Yields and Rates

Continuing Operations

(Dollars in thousands)

	2nd Quarter 2012							1st Quarter 2012							4th Quarter 2011							3rd Quarter 2011							2nd Quarter 2011
	Average Balance		Revenue/ Expense (1)		Yield/ Rate			Average Balance		Revenue/ Expense (1)		Yield/ Rate			Average Balance		Revenue/ Expense (1)		Yield/ Rate			Average Balance		Revenue/ Expense (1)		Yield/ Rate			Average Balance		Revenue/ Expense (1)		Yield/ Rate
Assets
Securities – Taxable	$	91,623	$	948		4.16	%	$	109,003	$	1,041		3.84	%	$	109,761	$	1,126		4.07	%	$	115,871	$	1,214		4.16	%	$	127,269	$	1,346		4.24	%
Securities – Non-taxable(2)		26,817		393		5.89	%		28,506		409		5.77	%		30,065		434		5.73	%		33,051		477		5.73	%		35,804		514		5.76	%
Federal funds sold		8,077		4		0.20	%		6,848		1		0.06	%		8,505		1		0.05	%		20,864		3		0.06	%		14,303		5		0.14	%
Deposits in other banks		60,416		48		0.32	%		49,470		49		0.41	%		42,644		46		0.43	%		36,495		44		0.48	%		77,928		65		0.33	%
Loans held for sale		2,062,449		21,087		4.11	%		2,036,622		21,315		4.21	%		2,093,883		22,332		4.23	%		1,191,375		13,340		4.44	%		808,165		9,591		4.76	%
Loans held for investment		5,950,913		73,204		4.95	%		5,660,993		70,459		5.01	%		5,395,253		69,180		5.09	%		5,219,496		68,352		5.20	%		4,890,696		63,918		5.24	%
Less reserve for loan losses		71,779		—		—			70,261	��	—		—			67,214		—		—			66,215		—		—			68,031		—		—
Loans, net of reserve		7,941,583		94,291		4.78	%		7,627,354		91,774		4.84	%		7,421,922		91,512		4.89	%		6,344,656		81,692		5.11	%		5,630,830		73,509		5.24	%
Total earning assets		8,128,516		95,684		4.73	%		7,821,181		93,274		4.80	%		7,612,897		93,119		4.85	%		6,550,937		83,430		5.05	%		5,886,134		75,439		5.14	%
Cash and other assets		394,086							388,009							382,577							333,563							306,372
Total assets	$	8,522,602						$	8,209,190						$	7,995,474						$	6,884,500						$	6,192,506
Liabilities and Stockholders’ Equity
Transaction deposits	$	694,463	$	198		0.11	%	$	565,319	$	140		0.10	%	$	429,980	$	33		0.03	%	$	412,203	$	52		0.05	%	$	375,084	$	55		0.06	%
Savings deposits		2,664,598		2,107		0.32	%		2,535,412		2,083		0.33	%		2,422,465		2,062		0.34	%		2,253,123		1,664		0.29	%		2,465,118		1,700		0.28	%
Time deposits		584,581		831		0.57	%		624,823		920		0.59	%		534,441		927		0.69	%		468,196		1,032		0.87	%		541,337		1,351		1.00	%
Deposits in foreign branches		444,478		346		0.31	%		409,422		329		0.32	%		578,728		449		0.31	%		588,221		443		0.30	%		415,998		311		0.30	%
Total interest bearing deposits		4,388,120		3,482		0.32	%		4,134,976		3,472		0.34	%		3,965,614		3,471		0.35	%		3,721,743		3,191		0.34	%		3,797,537		3,417		0.36	%
Other borrowings		1,428,575		736		0.21	%		1,554,716		719		0.19	%		1,588,198		681		0.17	%		894,073		240		0.11	%		233,388		110		0.19	%
Trust preferred subordinated debentures		113,406		688		2.44	%		113,406		711		2.52	%		113,406		668		2.34	%		113,406		634		2.22	%		113,406		638		2.26	%
Total interest bearing liabilities		5,930,101		4,906		0.33	%		5,803,098		4,902		0.34	%		5,667,218		4,820		0.34	%		4,729,222		4,065		0.34	%		4,144,331		4,165		0.40	%
Demand deposits		1,864,456							1,700,390							1,659,132							1,525,087							1,455,366
Other liabilities		69,076							78,108							70,142							53,233							40,177
Stockholders’ equity		658,969							627,594							598,982							576,958							552,632
Total liabilities and stockholders’ equity	$	8,522,602						$	8,209,190						$	7,995,474						$	6,884,500						$	6,192,506
Net interest income			$	90,778						$	88,372						$	88,299						$	79,365						$	71,274
Net interest margin						4.49	%						4.54	%						4.60	%						4.81	%						4.86	%

(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.

9