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, Inc. (NASDAQ: TCBI) is the parent company of Texas Capital Bank and operates as a full-service financial services firm serving businesses, entrepreneurs and individual customers. This news page aggregates company announcements, press releases and other updates related to TCBI and its affiliates, giving readers a single place to review the latest information about the firm.
According to its public disclosures, Texas Capital is headquartered in Dallas, Texas, with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. The company reports capabilities in commercial banking, consumer banking, investment banking and wealth management, as well as capital markets and advisory services through its broker-dealer subsidiary, TCBI Securities, Inc. News items often highlight developments across these areas.
Visitors can expect to find coverage of quarterly and full-year operating results, including earnings releases and discussions of balance sheet trends, capital ratios and credit quality metrics. Other frequent topics include dividend declarations on preferred stock, share repurchase activity, index membership references, and announcements about strategic initiatives such as expansions of the Corporate and Investment Banking platform or changes related to sponsored funds and ETFs.
The page may also feature updates on community and philanthropic initiatives, such as the Texas Capital Foundation’s Honors Awards, which provide grants to nonprofit organizations across Texas. Together, these news items provide context on how Texas Capital Bancshares manages its banking operations, capital markets activities and community engagement over time. Investors, clients and observers can use this news feed to follow the company’s official communications and regulatory-related announcements.
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.
Truist Insurance Holdings, a subsidiary of Truist Financial Corporation (NYSE: TFC), has signed a definitive agreement to acquire BankDirect Capital Finance from Texas Capital Bancshares, Inc. (NASDAQ: TCBI) for over $3 billion in loans. This acquisition will enhance Truist's premium finance business and expand into the life insurance sector. BankDirect will operate under AFCO Credit Corporation post-acquisition, expected to close in Q4 2022. The deal will diversify Truist's risk management offerings and potentially increase geographic reach, particularly on the West Coast.
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.