Texas Capital Bancshares in Dallas has formed a mortgage correspondent aggregation business line, to complement its existing mortgage finance business.
"This logical extension" of its lending business, said CEO Keith Cargill, "is expected to be highly profitable and capital efficient."
The $17.8 billion-asset company also reported on Wednesday that second-quarter
Net interest income rose 23% to $142.3 million. Loans held for investment rose 22% to $11.1 billion. Mortgage finance loans held for investment rose 33% to $4.9 billion. Total loans rose 25% to $16 billion. The net interest margin narrowed 65 basis points to 3.22%.
Fee income rose 21% to $12.8 million, as brokered loan fees increased.
Noninterest expenses rose 16% to $81.3 million on higher costs for salaries and employee benefits and a higher FDIC insurance assessment. The efficiency ratio improved to 52.4%.
