Texas Capital Stock Price, News & Analysis

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.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has priced a public offering of 12 million depositary shares, each representing a 1/40^th interest in its 5.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, at a total offering price of $300 million. The offering is set to close on March 3, 2021. Proceeds will be used for general corporate purposes and to redeem Series A Preferred Stock, pending regulatory approvals. The company has also applied to list the depositary shares on Nasdaq under the symbol "TCBIO."

Texas Capital Bank has announced the appointment of Tim Storms as Executive Vice President and Chief Risk Officer, effective immediately, succeeding John Turpen, who will assist until March 31, 2021. Shannon Jurecka has been named Chief Human Resources Officer, effective April 1, 2021. Storms will oversee risk management functions, while Jurecka will focus on the company’s human capital strategy. Both executives report to Rob C. Holmes, President and CEO, as Texas Capital Bank aims to enhance its risk management culture and employee development initiatives.

The board of Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has declared a cash dividend of $0.40625 per share for its Series A Preferred Stock, symbolized as TCBIP. This dividend is scheduled for payment on March 15, 2021, to shareholders recorded by the close of business on March 1, 2021. Headquartered in Dallas, Texas Capital Bank provides personalized financial services and is noted for being part of the Russell 2000® and S&P MidCap 400® indices.

Texas Capital Bank announces executive appointments to strengthen leadership and drive long-term strategy. Nancy McDonnell becomes Executive Vice President, Head of Treasury Services, bringing 30 years of experience from JPMorgan Chase. Tim Storms is appointed Executive Vice President, Head of Risk Transformation, with nearly 38 years in risk management at JPMorgan. Both executives will report to CEO Rob C. Holmes and aim to enhance the company’s operations and shareholder value while navigating a challenging market.

Texas Capital Bancshares (NASDAQ: TCBI) reported its fourth quarter and full-year results for 2020, highlighting a net income of $60.2 million ($1.14 per share) for the fourth quarter, a 7% decline year-over-year. The full-year net income was $66.3 million, down 79% from 2019. Average mortgage finance loans rose 5% quarter-over-quarter, and credit quality improved with decreases in non-performing assets. The company successfully deployed $1.8 billion into higher yielding securities. Despite challenges, the company remains optimistic with new CEO Rob Holmes expected to enhance performance.

Benchmark Email has secured a $3,000,000 credit facility from Texas Capital Bank, designed to scale with the company's revenue. CEO Jonathan Herrick stated that this funding will support aggressive acquisitions to promote growth and innovation in 2021. The company aims to enhance its sales and marketing solutions for small to medium-sized businesses (SMBs), leveraging Martech tools and AI. Texas Capital Bank's Doug Mangum expressed confidence in Benchmark Email's leadership and growth potential within the Martech space.

Liberty Commercial Finance has announced the closing of a new senior lending facility with Texas Capital Bank to enhance its funding capabilities. This move follows a recent equity investment from Copley Equity Partners. While the size of the facility remains undisclosed, it aims to provide a stable capital base to support Liberty's clients. The partnership underscores the commitment to delivering value at various business stages, as highlighted by Texas Capital Bank's management. Liberty has funded over $600 million in originations since its inception in 2017.