Texas Capital Bancshares, Inc. reports news as the bank holding company parent of Texas Capital Bank and the broader Texas Capital brand. The firm provides full-service financial services through commercial banking, consumer banking, investment banking and wealth management capabilities for businesses, entrepreneurs and individual customers.
Recurring updates cover quarterly operating results, net interest income and margin trends, loan and deposit activity, fee-generating businesses, regulatory capital levels, dividends on common and preferred securities, and capital actions. Company news also includes syndicated credit facilities led by Texas Capital, leadership and operating-model appointments, and Texas Capital Foundation community grant programs in Texas.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced the appointment of Edward Rosenberg as Managing Director at Texas Capital Securities, effective March 2, 2023. Rosenberg will lead the funds management strategy and work with the Investment Banking and Private Wealth teams. With over 28 years of experience, he previously held leadership roles at American Century Investments, Northern Trust, and Russell Investments. Texas Capital Bank aims to expand its service offerings in investment banking and private wealth management. The company is headquartered in Dallas and operates across several Texas cities.
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 translates to $0.359375 per depositary share, each representing a 1/40th interest in the preferred stock. The dividend is scheduled for payment on March 15, 2023, to shareholders on record as of March 1, 2023. Texas Capital Bancshares operates Texas Capital Bank, offering tailored financial services across various sectors, with a presence in multiple Texas cities.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI) reported a robust fourth quarter of 2022 with net income of $217.3 million, translating to $4.23 per diluted share, compared to $37.1 million in Q3 2022. The company recognized a pre-tax gain of $248.5 million from the sale of BankDirect Capital Finance, LLC, which significantly boosted non-interest income. Regulatory capital ratios were strong, with CET 1 at 13.0%. Total loans stood at $19.3 billion, reflecting a slight decline from prior quarters. The company also repurchased $65.3 million in stock during the quarter, reinforcing shareholder value.
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.
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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.