DALLAS (AP) _ Texas Capital Bancshares Inc. (TCBI) on Wednesday reported a second-quarter loss of $34.3 million, after reporting a profit in the same period a year earlier.
The Dallas-based bank said it had a loss of 73 cents per share. Earnings, adjusted for non-recurring costs and severance costs, were 26 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The holding company for Texas Capital Bank posted revenue of $322.5 million in the period. Its revenue net of interest expense was $280.4 million, also beating Street forecasts. Six analysts surveyed by Zacks expected $235.2 million.
Texas Capital shares have dropped 51% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.01, a fall of 52% in the last 12 months.