Texas Capital Stock Price, News & Analysis

Texas Capital Bancshares (NASDAQ: TCBI) announced 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, with the depositary shares traded under the symbol TCBIO. The dividend is scheduled for payment on June 15, 2023, to shareholders of record as of June 1, 2023.

Texas Capital Bancshares is a prominent financial institution based in Dallas, offering a wide range of services including commercial and consumer banking, investment banking, and wealth management. The company has established a robust client base and is a member of the Russell 2000 Index and the S&P MidCap 400.

National Partners in Healthcare (NPH), a leading healthcare organization specializing in anesthesiology services, announced its acquisition of Medstream Anesthesia Solutions, enhancing its regional presence in the Southeast, Mid-Atlantic, Northeast, Pacific Northwest, and Hawaii. This strategic acquisition is backed by a $125 million senior secured debt facility arranged by Texas Capital Bank, which closed on April 7, 2023. The financing aims to support NPH's growth and refinance existing debts. CEO Mike Saunders emphasized the importance of this acquisition in fortifying NPH's market leadership during uncertain credit market conditions. Texas Capital Bank also expressed its commitment to supporting NPH's transformation and growth.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) has appointed Laura Whitley to its Board of Directors, effective immediately. This change follows the retirement of Larry L. Helm, who served 17 years on the board, including 11 years as chairman. Robert Stallings, a board member since 2001, will assume the chairmanship. Whitley brings extensive experience from her nearly 35-year tenure at Bank of America, where she held leadership roles across various banking sectors. She currently serves as CFO for Urban Strategies and has significant community engagement experience. The CEO, Rob C. Holmes, expressed gratitude for Helm's service and optimism about Whitley's transformational leadership benefiting Texas Capital Bank as it continues to grow.

Texas Capital Bancshares (NASDAQ: TCBI) reported a net income of $38.7 million for Q1 2023, reflecting a decline from $39.7 million in Q1 2022. Net income available to common stockholders was $34.3 million, or $0.70 per diluted share, down from $35.3 million or $0.69 per diluted share a year ago. The company's Pre-Provision Net Revenue grew by 55% year-over-year, totaling $28 million. Total deposits decreased by 3%, in line with a strategic shift away from high-cost sources. Regulatory ratios remain robust, with the Common Equity Tier 1 ratio at 12.4%. The bank repurchased 1,011,909 shares for $59.7 million. Credit quality showed some concern with net charge-offs totaling $19.9 million, attributed to a single commercial loan. Overall, Texas Capital maintains a focus on strategic growth despite challenges in the current banking environment.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced the appointment of David A. Youngberg Jr. as managing director and chief credit officer, effective immediately. Youngberg brings over 20 years of experience in credit risk and enterprise risk management, previously serving at Goldman Sachs in various senior roles. In his new role, he will oversee Texas Capital Bank's credit approval, underwriting, and monitoring processes, reporting directly to Chief Risk Officer Tim Storms. Youngberg expressed enthusiasm for shaping the bank's credit framework to better serve clients nationwide. This leadership change aims to enhance the bank's risk discipline and support its growth as a premier financial services firm in Texas.

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced that it will release its financial results for the first quarter of 2023 on April 20, 2023, prior to market opening. Following the release, executive management will host a conference call at 9:00 a.m. EDT to discuss the operating results. Participants can register for the call online or by dialing in. An audio replay will be available within an hour after the call concludes. The company is part of the Russell 2000 and S&P MidCap 400 indices and serves a wide array of clients through its commercial, consumer, investment banking, and wealth management services.