TCBI - Earnings call transcript Q1 2021 | Texas Capital Bancshares, Inc.

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Operator

Welcome to the Texas Capital Bancshares Q1 2021 Earnings Conference Call. All participants will be in listen-only mode during the presentation. Please note, this event is being recorded. [Operator Instructions]. I would now like to turn the call over to Jamie Britton, Director of Investor Relations and Corporate Finance. ahead. go Please

Jamie Britton

afternoon TCBI's Good Jamie you joining for Director Thank Quarter and XXXX for First Investor I'm Earnings us of you. Relations. thank Conference Britton, Call.

please our current of include begin, Before call or expectations aware are on that future will we based forward-looking be events. statements results this

those and results from materially to risks are uncertainties and statements Forward-looking known that subject differ these to unknown could actual statements. cause

obligation together of as do forward-looking date update filings this call, earnings them. are annual most the we made other should any cautionary release, Our and this not assume subsequent recent today's with SEC. and report Statements of the to contained revise with or call statements Form in on statements and our information on be the considered XX-K

to presentation, section Investor the be will which release the texascapitalbank.com. slides Relations with We today's at can press website during along found in of our refer

are CFO. our CEO; call turn and Rob the I the President for will our remarks, call session. prepared the speakers At a And operator will now to remarks. for today Rob? Our opening Q&A Holmes, Rob facilitate Anderson, conclusion over Julie and of

Rob Holmes

to This call and everyone. afternoon, CEO. I'm our be new excited Rob conference Holmes. first quarter Good as hosting Bank's And Capital Texas is President

Here Julie with is me, CFO. as Anderson, our Jamie said

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Julie Anderson

balance results, the to Rob. us through Were quarter the in in XX. $XXX importantly, of consistent taken comments the the position fourth financial the pleased to was quarter mortgage and Slides during with the business, first performance result first for quarter downs cover total actions our sheet Thanks, expected, the respect as XXXX. and operating but finance revenue solid was quarter more with the for the our With future. and will a as in million X strengthen My of quarter first seasonality

the very quarter basis. slight to Our quarter meaningfully from continue down and poor Loan small were portfolio, on as had in in year a be we in quarter to a improve. flat we've conditions of modest in A and for want negative quarter resulting can We a expense from cautious should be We're loan the release fourth the fluctuations down and detail items which to linked be few first in the additional yields in reserves, conservative confident included our highlight. non-interest evaluation. a economic the last fees that the helpful understanding result. as noteworthy I evidenced provision was quality continue

We in our have in earned an which PPP, loans quarter. PPP We similar and of be the second million of $XXX net yet forgiven level continue fees next balances. to expect fees round participated a in in to be additional resulted to

built the a outlook lag materially disciplined and remain improving and in and we're to to credit a over underlying will revenue As This decrease understand portion reallocation experience focus correspondent Overall with selling the support charge-offs allowing from Net for of to XX-months. conservative fundamentals, were economic more mentioned, on to from Rob investments. non-accruals aligns the Despite to with business. the expense continue and lending the our the continue winding the of frontline It's risks last the while MSR trends down important last we capabilities million levels only predictable base substantial credit into that year. these business. $X.X a improved there portfolio strategic C&I down and talent be learning, substantial improve.

overall Our which X.XX% We X.XX%, with underlying finance of and slight related XXXX fourth the losses the specifically experience reserved loans, hospitality exposures, including end the we total credit support. and did times comfortable loans to from for increase a quarter for are structures, X.X criticized the up and LTVs in feel appropriately allowance loans care mortgage excluding on non-accrual and borrower currently loan. at represents is

negative Importantly, special watch from there of mention. was slowing category a to migration the

Core result yields LHI, normalized excluding level basis, a in quarter loan It's time, spreads the of growth our bearing funding loans non-interest but even round this that the a loan was another stable We growth. fee Our increased as since modestly deposits. linked PPP a second activity. as finance from the quarter, a average during result down quarter ending of noteworthy deposit average have on improvement and at down bit meaningful quarter. and remained fourth continued higher mortgage experienced last improved a in costs year of continued of

in CDs enhance down are reduction higher in hire with sales talent managing is frontline our funding already the initiatives Global we the first expect interest index after working running banking We McDonnell, heads, balances. the down recruiting aggressively expected, which longer higher still institution. the Net higher in off continued Treasury closely one driven be fourth Ultimately, by outsized was focus focusing She the And term quarter. seasonally a of liquidity. evident will one is are be aggressively by much and on Nancy pressured with on value costs income Treasury, who costs and Rob's a treasury NIM quarter weaker continue second run quarter, to in cost at level normalization as treasury more platform. the fees experienced as portfolio day and in loan larger to

balance With future. excess position than the less for the reposition ago, appropriately capital for sheet days paused actions new CEO needed to arriving efforts we bit cash XXX instead executed on on and to a the

quarter, security, acutely include We fairly compared the can to that the resuming excess of points XXXX extremely discuss but management, to of be Rob managing builds also final in liquidity drop category. more fourth the cost quarter certain been linked and XX down note funds. Warehouse yields a note have since higher only NIM, net migration in with over yields the to fee in LHI each in few interest liquidity net points aggressively but deposit been of margin. liquidity have focused been four not of us net to the quarter. finalize Fed basis plan third coming expect we quarters, in seen quarter XXXX. the for which stable slightly has decline will more drop only you down basis the yields some spreads would basis past fluctuations only continue will strategic expect those on some It's continued As the points on Core resilient. redeployment XXX important One

a First expenses additional the quarter professionals. A our row actively than the of treasury hiring lead from fee is fact finance reset pricing service mortgage we fourth by impairment. bankers and a rates long-term levels, expense benefit incentive quarter higher optimizing consistent for in as volume. been slightly Management priority. offset and of And to expense our In level accruals was non-interest prepayment with a and quarter focus of was Total was expense third reductions reversal in more treasury related we're a income. credit with frontline recruiting on and non-interest as those increasing benefited speeds Wealth and in transparent amortization support income. also saw sales We've for down charge of lower interest servicing relationships MSR expectations that seasonally bankers, slower income reduction deposit quarter

As our mentioned, which pointed in to underwriting that But spend. the we're previously initiatives long-term will include net minimizing every expense all our and quarter, our out that third and strategy quantifying Rob of businesses, ensuring investment priorities aligned important investments. and Rob? on detail give we'll reprioritizing dollar those more strategic re are both as new dollars it's understand with

Rob Holmes

Thank you, Julie.

So up why don't Sarah, we open please? questions for

Operator

Instructions] Please you. Brady from Thank Gailey question KBW. [Operator comes go First ahead. with

Brady Gailey

guys. afternoon, Good you. Thank

Rob Holmes

Hi, Brady.

Brady Gailey

think will first well with Yeah, of was you last quarter. away components. could couple understand, MSR some for that looks I year, unit like of you some Julie, fee the a go it we I expense goes us away? the all income just help as was dynamics I could that Now, start there's that know components profitable as sale. profitable thought just in it the

Rob Holmes

that's f start we And okay? just Julie I maybe then did if it? that of help why Can Brady. with kind Hey, can with

Brady Gailey

great. be That'd

Rob Holmes

leverage lastly, contribute two And of consumer a loan MSR half fully Yeah. then assets. don't regular the it could platform broad us. to for overtime. We Number have capital one, volatility a earnings of they great times to and attract

it capital those an for and in effort our and all in So more simplify like to position sheet balance reasons. the consistent safer make help earnings

it's It to business was a think got scale. this the I we Capital. a great actually Texas lifecycle a in time it good good for business. But it's business, not of

So that's why it. we did

I think question? don't the Julie that'll why you help you understand. then And answer

Julie Anderson

Brady, of in breakout time. on correspondent a couple there's couple to income the deck Slide a net components them, all been extra then interest of components of different non-interest see the little we A lending. always slide the of income. that's And detail the component. there's face a X, of what Sure. able provided you've the in financials, this

to so able to you've had and And is as expenses, the What expense other haven't given you. gone reallocate I the we've I now. expect been the comments that we're of think see right on focused And in investments said in my that. ahead to would those you we that component, past which some

Brady Gailey

where about attractive kind point do outside Okay. markets? lot loan as is of like of longer see that All when At about company, Loans growth. just then linked talking I Texas And honestly some from the think as far right. Great. potential a in kind growth. I Rob, want view, back growth. do ask, just picking the want flat considering nice demand, this then it see ask the were of relative Capital you're maybe pretty term could loan up? the the near-term of year, of point, also of such about do is to you loan could half the rest think a quarter, what we you growth the loan Maybe But to good And loan of you to which industry. people are

Rob Holmes

up, think spoke Why investor financial take do I and to to want You she can? the I Julie if answer call then we do on. anything has Brady, on early to want to you first, - clean you first? don't

the not say to will got me heard an have that our growth. actually last we growth output target clients' of may loan of year. where part have may us I loan that will were the that You be that calculus been needs think

The to that to with do not also our loan that growth. you would that's if and to KPI, clients we So loan work don't have, for platform. the aspire say more have will clients add we be

share said, times, We in we market. I've market have of more a And you constructive low as clients a in very said many ourselves and couldn't Texas. find

loan growth, So to an we'll the banking cycle. life be it'll but these have clients corporate of outcome

Brady Gailey

for Rob, expenses that But the finally know then great adding And talent. I mentioned at had me, a now flat. be same bunch right. All year-over-year I Julie would you're of time, roughly

here. just I kind an So the wanted from of how thinking you're about update on expense base

Julie Anderson

Yeah.

Brady, I third comprehensive on you give rollout more when the that So that quarter. we more plan the will in detail think

reiterate comment that I certainly lending, think the can is, is And expenses with down spend, those be and correspondent again, I initiatives. some now of we're on I made will both of just that one say a re-underwriting what all be reallocated. focused Rob all how we'll

really to detail more come quarter. third granular So more the in in

Rob Holmes

and Brady, re-underwrite spend I and also emphasize would hard meaning running dollar just spin is of kind And investing. the soft then place both the

So types. both it's

Brady Gailey

Okay, guys. the collar, great. for Thanks

Julie Anderson

Sure.

Operator

Brett comes go next Rabatin question with Group. ahead. Our from Hovde Please

Brett Rabatin

good afternoon, Hey, everyone.

Julie Anderson

Hey Brett.

Brett Rabatin

some you the few off as the see be play you sheet of - others that mitigate And you continue mountain just the a Julie, the a many deploying it's some balance on balances question not a the for think from to talk the that obviously at cash. out of liquidity? a perspective? build with next point. time of underwater to liquidity here. do liquidity? that you the try excess deploy might to it Like ton with just might quarters super-attractive and about securities And what into yourselves, like Can back might how And to Want

Julie Anderson

happy Brett, that. Sure. answer to

a of on some deposits. in - we additional cash. with the look took think we excess joining same the any time, - XXX pause days I Rob at And less of a us little a we So than ago, took growth redeploying that bit had

cash the tell that So think at will I too were I quarter, our end of first the you balances hot.

a to of are you still balance But thing going sheet. we're final different on us will one working for how asset on start to think see that see be the aggressively, you will do allocation us, the little the I pick more will up. classes plan

into start said. be you more And securities. not going to to going - aggressively some go will, of then managing see I some on additional on those the But little securities, to think we're into also that. higher crazy deposits. We of a liability as but we're think bit higher again, you'll cost redeployment redeploy side, I don't beta

So we you'll third see you'll are think bit And help for on inform think would the aggressive second longer roll you to what when that kind I we the more then see why a out levels will again, think more little quarter. action in holistic liquidity the look that the will quarter, term. plan that like of going in

Brett Rabatin

would of And is quarter kind relates Julie, just just from then quarter but this to around Or thoughts do that say that that, lot think just you it fair a about that, excess the here? here, maybe a as margin Okay. to be think of it to you one this culmination of in the liquidity? go any how damage margin? from blip obviously, the there's margin Then

Julie Anderson

the liquidity again, to pieces it. a try just continues on away I Sure, be different focus focusing of from margin. We drag. the But on to obviously the stay excess

side, to was that think that going loan side, the that's the the then extent And more margin. reduce fees to the deposit outsized So that I liability normal to the fourth quarter will improve first able There was improve a on quarter, continue margin. run-rate. the remixing to to we're sum some back on the in

Brett Rabatin

that's that last real had then quick around I the one Okay. one mostly an like criticized commercial around the mentioned, industry. were increase a you Seems just bit estate hospitality. And of loans outlier for in

folks that quarter. folks year I that ADRs that these around about criticized most reason to us Was quick a why you give hospitality. a previously? and talking is this thoughts Can in lot with hospitality? And of increase moved opposed had loans improved been any last there think now movement are hadn't

Julie Anderson

Yeah.

think year. I we've actually for aggressive pretty So downgrading the at that been past

watch in some in been movement first was the had quarter were And so already saw we the category the that had that identified. that previously

book, So that about overall. that I we've this part think in somewhere that think piece. entire a that which criticized. pretty million I book about mentions. $XXX It's the been of special CRE piece, that about watch And transparent moved from - of not is percentage just hospitality of is was large meaningful A - category to the the

we we have would we expected. don't So what was - think it

Brett Rabatin

great. enough. the for color. Okay, Thanks all Fair

Operator

from comes Jennifer question Securities. Truist Please Demba ahead. with next Our go

Jennifer Demba

afternoon. earnings you you. you're it separate on in of disclose that third quarter. Rob, or be Question. the Good going Thank a said event? the to part more Will would the call details strategy be

Rob Holmes

second will separate. It dedicated It a quarter be and strategy. third be call. will the the between and to earnings we solely

mixed I focus. a too of you that reset hopefully in earnings important a think it's and call appreciate GAAP all in

Jennifer Demba

We know are of become Definitely. strategy the in have mind? that today? mentioned there in your Rob, part you a lot on the earlier monologue the Would acquisitions ever your in discussions company industry would an going organic of focus.

Rob Holmes

is acquisition. to haven't much industrial like we the done in is surprised about, less strategy. can feel product, opening and lot a I'm my committed are yet we that logic. is. clients. I an mentioned But strategies so or more lot I organic do board certainly There Yeah, not than what see I and theirs in There organic need this and a And of that remarks it. And services, by activity beta bank There's anybody's the we we and permission. of market, much what don't and

to right thoughts ideas, of to organic, do forward a given that. background action living. now just my focus other strategic to and while think is doing go and than on alternatives, wide to right I So organic especially open opportunities that course for the I'm that the

Jennifer Demba

Thank you.

Rob Holmes

Thank you.

Operator

go Ebrahim Poonawala Our next with question comes ahead. Bank Please America. from of

Ebrahim Poonawala

fees, the saw give the quarter guess I to given headed, fees, the just where we margin impact you any of appreciate could afternoon. relative first on to terms the Good up, outlook PPP to loan just you see wanting pieces. moving given NII our color levels. not But give if Julie, follow some in

Julie Anderson

pieces. different just Ebrahim, again, you take the I to So would back

finance give volumes, lower mortgage but we're bit first quarter. lower overall seasonally in to quarter. little Again, seasonally think not guidance the a I any on in going the first

I to there have remains think sure that there that strong. are levers business make we

I up that really it. think yield well. could we in But little up well. We held held have think bit it's see of a compression

the again, different a you the more little components that book, so can fees. given On out in kind detail parse core of loan we've

One like, still got some come growth And I then give some that kind exactly over be CDs what think, on we're it will It rolling going that. some of deposit cost brokered we're expect higher - aggressive then sure higher brokered to looks next that And categories. Rob's a already pickup. think of us I in bit higher that I is. deposit think of deposits, we managing when And addressed quarters. costs cost loan, not beta couple continue more the are which little will will be to off, down. on we again, the

Ebrahim Poonawala

I Got guess prepared so certainly for Rob. it. a remarks. question Thanks for

giving But not time the the by be is about the a I Is to for is followed who taking strategic someone with year, can by you for the on think I that anyone that's - years, I end the that to fruits that terms next your in Anything a company there? terms years. you start think I the the of the least in qualitatively the brand last guess at of last stuck we in missed hang shareholder half of bruised. your on what first that seeing you strategic sort that provide of plan? would the we who several as year? could this of bank. when And message bank mentioned think update several appreciate

Rob Holmes

I product past with it's seven there's soon thing going possible as say here. quality size. was with with corporate that still it some different on have of here team there would Taxes for multiples we relates on think the you than global bet. ran people that Tim Nancy, and sides Storms a today Yeah. depth I and thing businesses I adds and A management. experience an platform to is a And world the services the different every were supplement multiple at philosophy, and of one Treasury. running I just entirely that in that We're Capital that great this the was in this platform the different a And years. Risk, financial what that have other best different backgrounds. business strategy of to same and are service.

I So And seven want that you me I quarter today. ago what think compare hope if and you do. tell third only you you can can with years

Ebrahim Poonawala

for Thanks the questions. it. Got taking

Rob Holmes

Thank you.

Operator

question Brad ahead. Please PSC. Milsaps Our next from with comes go

Brad Milsaps

Hey, good evening.

Julie Anderson

Brad. Hey,

Brad Milsaps

Rob, Hey, Julie. Hey, welcome.

expense discussion the the business. Just follow to relates it up as MCA want to on

I think first about the expenses business the had million $XX in quarter. correspondent

be You you mentioned $XX that I The million. make is occurs that's that something would wanted overnight those. assume you to million annualized would reallocate that more than investments these of sort not $XX overtime.

kind just of of think quickly how expenses So, wanted see you up. to ramp through sort back

Julie Anderson

But would the to think yes until into some that's happen. happen to fair. that not looking again, third that won't alluded the hiring we're and already we've I would - hiring happening get quarter. overtime. that I happen That specifics overnight about the it of that's already very Yeah, mean And we

about your reinvested I to to look, how So is fair, that's But yeah, more be overnight. that. not we'll point think talk again, that and going to third meaningful quarter. the But speed of that's that's that parts in very going the

Brad Milsaps

away do the borrowings may how secondly, the FHLB require need funding to you changed? that You Are $X source that in how relates saw or that a warehouse think as obviously I think then to And it. quarter. against are going buy about just that's to on to I of the curious percentage business? your the don't deck kind certain warehouse, Okay. but it, here to borrowings to in of advances kind is going to mention curious about your hold so second just billion overnight wholesale now of continue, that something You think of but go

Julie Anderson

facility talked have, about pretty that we that Yeah, that we've agreed we do. we of XX% And finance mortgage the outstanding I about Because the book. candidly of will hold think we've before.

as slips that the all the is through overnight higher and term money, rate. the slips ran-off and the first but yeah, all to that term opposed that So XX% to quarter in

Brad Milsaps

Got it. it. Got Okay.

bit up there. pick you'll a So little

sense you of you I of just Can a the in of $XX be Capital, as feel yet. of then not fair. approach to us of That's billion give near, gloated. kind you size bit about kind what look of think understand you And Rob, from Texas of how the kind kind balance at Okay. intermediate But bank answer market assets question. bigger kind at clearly the a should this sheets the of picture to size may standpoint? right be finally, the When over term, a kind able you

Rob Holmes

decision I And is mean, certainly and know that lending decisions execute. but rationalized. decisive then if assets the that acknowledge third view, make the balance my quickly. and decided, use be MSR that maybe to started. I I'll takes sell a is hopefully, willingness down could looked before word would a So, And was I wind week - correspondent I of sheet it's at don't our the it here to to pretty - gloated, my I when evidence pretty since it while

you. So disciplined that going I mentioned address agree balance be with about I going very to committee, who to sheet would capital. [ph]. are We're the

we to focused, we discernment. with great more sheet And manage forward. So use will and be balance it appropriately going the need

Brad Milsaps

Great, thank you.

Rob Holmes

Thank you.

Operator

Anthony with from ahead. JPMorgan. comes question next Our go Elian Please

Anthony Elian

sale and welcome A everyone, Hi, correspondent on follow business. up Rob. the of the

higher businesses specifically how the So backdrop about are these other the lower you here? rates mortgage volumes to normalize could businesses. commitment more from thinking you as guess, finance, reaffirm of the with especially mortgage I

Rob Holmes

we structure remember, warehouse past employ, do of starting different Yeah. very between products stuff. I for The business the that business warehouse, of that in and I the forbearance is MSRs, we that was category life, through and the the the warehouse business difference and went earnings of in which a consistency my a conservative the type in we put responsible large with terms COVID warehouse I a and the and to understand scope, this

out quarter business. noticed a number you've volumes reduction sound first hope safe There's through we of things that a and have warehouse cycles. We the can can bring have talking the And do balance down I their is participations influence it's to we're on that certainly openly seasonal, we if cyclical, see about sheet yet of we sheet. seasonally. but But that to place off-balance not

other of have balances that in us I've does right whom that we We But we're with, about be that talking a to into, that of many can there warehouse spoken clients proud use I want are we'd are number risk. there's to on. And using great bringing that prospects, have, that we're increase the not said, products, safe and with mortgage the products expand structures. sound like products to

We're the historically, if you look and warehouse, that outperformed. not our we're news sensitive, competition. So price have at not certainly as we as

between affected. all manage that we be it, things, they think the appreciate can we So will contribute. But we earnings those we

Anthony Elian

likely then, XXXX? you the to recognizing that impact. a you show the And to know I more long this signs of in or identified initiatives, after XXXX I the Julie, new mentioned these take take Okay. of for Is new from? initiatives revenue it how event it'll revenue time will start guess,

Rob Holmes

that? take Can I

Julie Anderson

Yes.

Rob Holmes

it's new as not answer trying that. be. to the It's hard for promised I'm to identified to I forthcoming But initiative. hard we to that haven't answer candidate not be

okay. that, guidance And us rollout of and those that's initiatives, great both with be raft deliberate expense. let we'll the giving very then on revenue So and if

Anthony Elian

know them. finally was an do you ago, of guys deposit know, you I I I Thank me. those talked verticals. have? one about couple then Bask And there stand on of Bank Okay. update quarters for new you you. now? had where guess, a Is the

Rob Holmes

and escrow today, on we deposits will candidly. So behind the overpriced the strategy some new we part of in we whole deposit I standing be just go-forward decisions Bank speak the vertical, if and initiative. broader would a sheet that. we're just platform invested say Bask have Look, balance

Bask more contemplation the protocol I with of I is in the will we'll that we of mean, aggressive part third deposit that the be the those. strategy. the rollout And and part think Julie bank of a overall be quarter. funding mentioned,

late. can't they're You -

discussion. part So that'll the big be a of

Anthony Elian

thank Great, you.

Operator

Our next Raymond with Rose question Michael ahead. James. comes Please from go

Michael Rose

for my just Hey, on Maybe good afternoon. questions. credit. want Thanks taking

of quarter. line do expect to of pretty revision guys the of day think continue low do economic Thanks. So levels things where had levels, can you one one day if kind you to back get you should we Julie, reserve guys I post-Cecil released this improve? relatively you sight? backdrop And just assuming a reserve here. stable remains think mean,

Julie Anderson

the did why provision? kind that small risking we So, I about ended up de XXXX. make we that think I'll with a of a from comments few benefited in negative We

I of still we how in NPAs. economic mean, as evaluate we're of in improving, it. to So charge-off I going I conditions But that we lower cautious comments, all my be ahead were while thought conservative lower said are and

been so is year criticized, we it we CRE deliberate good. - provision been feel of So have was - We good I'm has give going to good. like is the any feel guess book the much book structure The along. be is I we composition not the in going book. - guidance not different don't the book a I going we're and forward. The - to selection about feel That going to than solid, ago. all the think credit what is We that client

feel conservative. good to will and tell want that. CEO about reserve to with And the be right So my we think new he I that. conservative very cautious is we But you again,

Michael Rose

Understood. warehouse, just maybe many bigger bigger about fee much the from with of one And question. lot a A of you've talk been. picture lines come lot of you've talk where around business. different Rob, a bank

And question. guess the that's so I

of exiting there As bank just in you fit of the for forward? make you but term, you enter about there to are sorts sense sight that term, businesses strategic kind think Thanks. as you're any Obviously, the to is that might you kind you some might move near think line of intermediate for be in of any that business make seek

Rob Holmes

Yeah.

it. got You

strategy to scale. income we're of be - the also be of part that answer business, recognize do times definitely to which said, I'll that we'll what peers. business, focus we a what great We There obvious don't So wealth strategy that's addition around around whole conversation which then going - the there. be part platform already and low it, the is And part ones of is management treasury on, will fee for our in really needs focus a is our we've broader T would whole Because that some the a going forward. because strategy.

you So going of rest forward both as quarter. businesses, talk should look And about at the we their then those should contributors.

Michael Rose

Do move think just Maybe I'll to you're year just liquidity you grows guidance. forward and going me, not where quarter. give from of opportunities sort final Very given helpful. NII some here? the one one margin to was But margin just know this given try. just deployment, the I for any throughout actually

Julie Anderson

kind that. Michael, pieces of walk Again, different of the I'll through

not down - We yields that overall have We're expect come could we're we finance. can, where market on would as but usually mortgage not some affected they the the levers securities, with that would Securities, on again, of cash some we redeploy we're which I that be And into would the expect additional excess some pickup. think work doing then deposits. some as to

are the to going to from how going I'm pieces specific look So going exactly what helpful. Hopefully, trend. I I that's like But give not it's on think and guess guidance they're those to quarter-to-quarter. different

Michael Rose

Yeah, my very questions. taking for helpful. Thanks

Julie Anderson

Sure.

Operator

Securities. Peter go comes ahead. Wedbush question Please from with next Winter Our

Peter Winter

fee income. the That was my question on

set. all you. Thank I'm So

to Rob. with forward your working Looking

Rob Holmes

Me you, Peter. Thank Yeah. well. as

Operator

This over the and I will the CEO, Holmes question-and-answer closing remarks. back turn session. now conference any Rob concludes for President our

Rob Holmes

in I you Texas Look, and the quarter about of safe. stay everybody with your forward just call. excited And third I look And to being appreciate want Capital. time interest and working each transparent. really for to investment, we're say And I Thanks everybody's time.

Operator

your QX, direct to requests questions for Julie earnings in Anderson at Please jamie.britton@texascapitalbank.com. participation TCBI's you conference XXXX follow Thank for up call.

now may disconnect. You

Texas Capital Bancshares (TCBI) 22 Apr 212021 Q1 Earnings call transcript