Texas Capital Stock Price, News & Analysis

Texas Capital Bancshares (NASDAQ: TCBI) announced the redemption of all issued and outstanding 6.50% Subordinated Notes due 2042, totaling $111 million, effective June 21, 2021. Holders will receive a redemption price of 100% of the principal plus accrued interest up to the redemption date. Post-redemption, interest on the Notes will cease. The Notes are book-entry form through The Depository Trust Company. For redemption details, investors must contact their brokers.

Texas Capital Bank has completed a rebranding initiative, introducing a new logo and an updated website to reflect its commitment to client relationships and future vision under President and CEO Rob C. Holmes. The rebranding focuses on expanding client relationships and enhancing capital flexibility to foster growth and long-term value. The new logo is designed to be modern and approachable, while the redesigned website improves user experience and showcases the bank's expertise. Texas Capital Bancshares is listed on NASDAQ under the ticker TCBI.

Texas Capital Bancshares (NASDAQ: TCBI) has announced a public offering of $375 million in 4.000% Fixed-to-Fixed Rate Subordinated Notes due 2031, priced at 100% of face value. Interest will be paid semi-annually, starting November 6, 2021. The offering is expected to close on May 6, 2021, subject to typical closing conditions. The proceeds will be used for general corporate purposes, including potentially redeeming existing subordinated notes. J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) declared a cash dividend of $0.40625 per share for its Series A Preferred Stock and $14.375 per share for its Series B Preferred Stock. These dividends are payable on June 15, 2021, to shareholders on record by June 1, 2021. The Series A Preferred Stock trades under the symbol TCBIP, and the Series B under TCBIO.

Texas Capital Bank offers personalized financial services, serving the community from locations in major Texas cities.

Texas Capital Bank has agreed to sell its Mortgage Servicing Rights (MSRs) portfolio, valued at approximately $14 billion, to PHH Mortgage. This sale aims to optimize the bank's balance sheet and focus on high-growth segments. Alongside, PHH plans to offer jobs to many of Texas Capital's Correspondent Lending employees, facilitating a smoother transition. Texas Capital remains committed to its core Mortgage Finance, Mortgage Warehouse, and Specialty Lending businesses, with an expectation of increased investments in these areas. The transaction is set for completion in Q2 2021, pending standard conditions.

Texas Capital Bancshares (NASDAQ: TCBI) reported Q1 2021 net income of $71.9 million ($1.33 per diluted share), up 531% year-over-year. CEO Rob C. Holmes highlighted significant achievements, including the largest capital raise in company history and the first warehouse lending credit risk transfer transaction. Demand deposits surged 19% linked quarter, while total deposits increased 8%. However, total mortgage finance loans fell 2% quarter-over-quarter. The bank's regulatory capital ratios remain strong, exceeding 'well-capitalized' standards.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) will host a conference call on April 21, 2021, at 4:30 p.m. EDT to discuss its first-quarter 2021 operating results. The earnings press release will be made available at 4:00 p.m. EDT. Participants can pre-register online for a unique PIN or join via phone. A live webcast and presentation slides will be accessible through their website. An audio replay will be available shortly after the call and can be accessed until July 21, 2021.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has appointed Julia Harman as the Head of Corporate Banking, effective immediately. This new role reflects the bank's commitment to enhancing its commercial and industrial offerings for larger clients. Harman, previously serving as North Texas Regional President at Truist Financial Corporation, brings extensive expertise in corporate banking. CEO Rob C. Holmes expressed confidence in Harman's ability to lead the division, aiming for growth and a strengthened market presence.

Texas Capital Bank announced the closure of a Credit Risk Transfer (CRT) transaction with institutional investors, aimed at optimizing its balance sheet and enhancing its mortgage finance offerings. The CRT references $2.20 billion of loan exposure through a $275 million Credit Linked Note, underscoring strong investor interest. Additionally, the bank recently raised $300 million through a Series B preferred stock offering. These steps significantly improve regulatory capital ratios, positioning Texas Capital Bank favorably to support its Warehouse Lending clients across various market conditions.