Texas Capital Stock Price, News & Analysis

Texas Capital Bancshares (NASDAQ: TCBI) appointed Vivek Misra as Executive Vice President and Chief Compliance Officer, effective immediately. Misra joins with extensive experience in risk management from Wells Fargo, JPMorgan Chase, and Citigroup. His role will focus on enhancing compliance risk management at Texas Capital Bank. Chief Risk Officer Tim Storms expressed confidence in Misra's skills and leadership as essential for the firm’s growth. Misra's prior experience includes roles in compliance, operational, and risk management, further strengthening the bank's leadership team.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has appointed Bryan Kucholtz as Executive Vice President, Head of Private Wealth, effective immediately. Kucholtz, with over 30 years of industry experience and a strong background in wealth management, previously held leadership roles at PNC Investments and BBVA. His responsibilities will include overseeing the Private Wealth business, enhancing client services, and driving strategic growth. This leadership change aims to strengthen the firm's financial planning solutions and improve client experiences across its banking services.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced a cash dividend of $14.375 per share of its 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, equivalent to $0.359375 per depositary share. This dividend is payable on September 15, 2022, to shareholders on record as of September 1, 2022. Texas Capital Bank offers a range of financial services and is a member of the Russell 2000 Index and S&P MidCap 400.

Texas Capital Bancshares (NASDAQ: TCBI) reported a second quarter 2022 net income of $34.2 million, with $29.8 million available to common stockholders, translating to $0.59 per diluted share. This shows a decline from $35.3 million and $67.2 million in the previous quarters. The company saw a significant increase in loans held for investment, up 11% to $24.1 billion, while total net interest income rose 12% to $205.5 million. However, a $22 million provision for credit losses impacted the results. The net interest margin increased to 2.68%, reflecting improved asset yields.

Texas Capital Bancshares (NASDAQ: TCBI) announced a conference call and webcast to discuss its Q2 2022 operating results, scheduled for July 21, 2022, at 11:00 a.m. EDT. The press release will be issued at 6:00 a.m. EDT on the same day. Participants can pre-register for the call for immediate access or dial in using the provided access code. An audio replay will be available shortly after the conclusion of the call. Texas Capital Bancshares, a member of the Russell 2000 and S&P MidCap 400 Index, is a full-service financial firm headquartered in Dallas.

Texas Capital Bancshares (NASDAQ: TCBI) announced plans to relocate its Richardson offices to a new campus by Q4 2023. The Bank has signed a 15-year lease with Blue Cross and Blue Shield of Texas, moving to 1001 East Lookout Drive. This consolidation aims to enhance the efficiency of its Technology and Operations teams, reflecting the Bank's commitment to growth. The new location boasts amenities that will improve employee and client experiences, aligning with the Bank's strategy to become a leading financial services firm in Texas.

Driver Management Company has nominated Peter Bartholow for election to the Board of Republic First Bancorp, Inc. at a court-ordered special meeting by July 10. This nomination comes amid concerns regarding board dysfunction attributed to CEO Vernon Hill's management style and failed strategy. Bartholow, a former executive at Texas Capital Bancshares and First USA, aims to restore investor confidence and enhance shareholder value. The special meeting is expected to facilitate the long-awaited 2022 Annual Meeting of Shareholders, enabling further governance improvements.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) appointed Thomas E. Long to its Board of Directors, expanding the board to 12 members. Long, co-CEO of Energy Transfer LP, brings over 30 years of leadership experience in the energy sector. He aims to leverage his financial expertise to contribute to Texas Capital's strategic initiatives. The management expressed optimism about Long's appointment, stating it aligns with their enterprise transformation plan to enhance financial services and shareholder value. Long holds a BA in Accounting and is a Certified Public Accountant.

Texas Capital Bancshares will celebrate the launch of its broker dealer, Texas Capital Securities, on May 17, 2022, at the Nasdaq MarketSite, with CEO Rob C. Holmes ringing the Closing Bell. This move positions Texas Capital as the only full-service financial services firm in Texas, enhancing its capabilities to serve clients throughout their financial journeys. The new investment banking arm will offer access to capital markets and financial advisory services, representing a significant expansion of Texas Capital's service offerings.