Energy sector rebound fuels 1Q profit rise at Texas Capital | American Banker

This post was originally published on this site

Profit at Texas Capital Bancshares spiked upward in the first quarter as improvement in the energy sector allowed the Dallas company to reduce its loan-loss provision by more than two-thirds.

The $21 billion-asset company’s net income rose 77% from a year earlier to $40.1 million. Earnings per share were 80 cents, meeting the average estimate of analysts compiled by FactSet Research Systems.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.