Welcome to our dedicated page for Texas Capital news (Ticker: TCBI), a resource for investors and traders seeking the latest updates and insights on Texas Capital stock.
Texas Capital Bancshares (TCBI) delivers tailored financial solutions through commercial banking, secured lending, and wealth management services focused on Texas business communities. This news hub provides investors and stakeholders with centralized access to official TCBI developments.
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Texas Capital Bancshares (NASDAQ: TCBI) has appointed Dustin Cosper as the Head of Commercial Real Estate, effective immediately. Cosper, who has been with the bank for 10 years, will oversee the execution of the bank's real estate strategy and work alongside other business lines. He previously served as Senior Vice President, Group Manager, and is recognized for delivering significant results in the sector. His appointment is expected to strengthen client relationships and support the bank's growth in real estate finance.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) will host a conference call and webcast on January 19, 2023, at 9:00 a.m. EDT to discuss its fourth quarter 2022 operating results. The press release detailing these results will be issued on January 18, 2023, post-market close. Interested participants can pre-register for the call or join via phone using the provided access codes. An audio replay will be available one hour after the call concludes and can be accessed until January 19, 2024. Texas Capital Bancshares provides a range of financial services through Texas Capital Bank.
Texas Capital Bancshares, Inc. (TCBI) has completed the sale of its subsidiary, BankDirect Capital Finance LLC, to AFCO Credit Corporation for approximately $3.4 billion. This strategic move enhances Texas Capital's financial strength, increasing its liquidity and tangible book value while generating a pre-tax gain of about $250 million. The sale is expected to boost the Common Equity Tier 1 ratio by 200 basis points and provide a 7% increase in tangible book value per share. Management aims to focus on expanding its core commercial services in Texas.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has declared a cash dividend of $14.375 per share for its 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B. This amounts to $0.359375 per depositary share, representing a 1/40th interest in a share of the Series B Preferred Stock. The dividend is payable on December 15, 2022, to shareholders of record as of December 1, 2022. Texas Capital Bancshares is a member of the Russell 2000 Index and S&P MidCap 400, providing a range of financial services.
Texas Capital Bancshares (NASDAQ: TCBI) reported a net income of $41.4 million for Q3 2022, with earnings available to common stockholders at $37.1 million or $0.74 per diluted share. This is an increase from $29.8 million in Q2 2022 but a slight decrease from $39.1 million in Q3 2021. The bank's net interest income rose to $239.1 million, driven by improved yields. Despite a 20% rise in non-interest expenses due to staffing increases and legal costs, credit quality improved, evidenced by reduced criticized loans. Regulatory capital ratios remain strong.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has signed a 15-year lease for its headquarters at 2000 McKinney Avenue in Dallas, expanding its space to over 200,000 square feet across seven floors. The new location will be named Texas Capital Center and includes renovations and additional floors. This move aims to enhance workplace experience and accessibility in Uptown Dallas, with construction expected to begin in early 2023 and wrap up in 2024.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced that its executive team will hold a conference call on October 20, 2022, at 10:00 a.m. EDT to discuss third quarter operating results. The press release with detailed results will be issued after market close on October 19, 2022. Participants can pre-register or call in to join the discussion. An audio replay of the call will be available shortly after its conclusion and can be accessed until October 20, 2023. Texas Capital Bancshares is a full-service financial institution headquartered in Dallas.
Texas Capital Bancshares announced the sale of its insurance premium finance subsidiary, BankDirect Capital Finance, to AFCO Credit Corporation for approximately $3.4 billion. This divestiture includes BankDirect's loan portfolio, valued at $3.1 billion. The transaction is expected to improve Texas Capital's financial health, increasing its Common Equity Tier 1 ratio by 199 basis points and Tangible Book Value per Share by 6.5%. The sale is projected to enhance liquidity and streamline operations, aligning with the company's core business strategy.
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