Texas Capital Stock Price, News & Analysis

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.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has appointed Rob C. Holmes as CEO and President, effective January 24, 2021. Holmes succeeds Larry L. Helm, who will continue as Executive Chair for a transition period. With over 30 years at JPMorgan Chase, Holmes brings extensive experience in corporate banking and investment. Helm praised Holmes for his leadership qualities, emphasizing the need for innovation and strong client relationships. Holmes expressed commitment to sustainable growth and the bank's unique market position. Texas Capital Bank aims to enhance shareholder value under his leadership.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has declared a cash dividend of $0.40625 per share for its Series A non-cumulative perpetual preferred stock, trading under the symbol TCBIP. This dividend will be payable on December 15, 2020, to shareholders of record as of December 1, 2020. The company serves various financial needs with a strong presence in major Texas cities, enhancing its position in the market.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) reported Q3 2020 net income of $57.1 million ($1.08 per share), a significant improvement from a net loss of $34.3 million in Q2 2020 but down 36% from $88.1 million in Q3 2019. Total mortgage finance loans rose 6% quarter-over-quarter, while demand deposits increased 14%. However, loans held for investment fell 5% from Q2 and 6% from the previous year. The provision for credit losses decreased to $30 million, with criticized loans totaling $1.1 billion. Regulatory capital ratios remain well-capitalized.

Texas Capital Bancshares (NASDAQ: TCBI) has announced a conference call scheduled for October 21, 2020, at 5:00 p.m. EDT to discuss its third quarter 2020 operating results. The press release will be issued at 4:00 p.m. EDT on the same day. Participants can pre-register for the call via the provided link or join by calling designated numbers. An audio replay will be available shortly after the call's conclusion. Texas Capital Bancshares operates Texas Capital Bank, focusing on personalized financial services across major Texas cities.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced a cash dividend of $0.40625 per share for its non-cumulative perpetual preferred stock, Series A (NASDAQ: TCBIP). The dividend is payable on September 15, 2020, to shareholders who are on record as of September 1, 2020. As a member of the Russell 2000® Index and S&P MidCap 400®, Texas Capital Bank provides personalized financial services across Texas.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) reported a net loss of $34.3 million, or $0.73 per diluted share, for Q2 2020, a significant decline from net income of $77.8 million in Q2 2019. The loss was attributed to a $100 million provision for credit losses amid rising criticized loans due to COVID-19. Non-interest income rose by $58.7 million, but non-interest expenses increased significantly by $56.9 million compared to Q1 2020. The bank continues to support clients with a loan modification program and funded $717.5 million under the Paycheck Protection Program.