North Reef's Schedule 13G/A Shows 4.3% Position in TCBI

Rhea-AI Filing Summary

North Reef Capital and related entities filed a Schedule 13G amendment disclosing beneficial ownership of 1,984,977 shares of Texas Capital Bancshares common stock, representing 4.3% of the class. The filing reports shared voting power and shared dispositive power over these shares and no sole voting or dispositive power. The statement certifies the holdings are owned in the ordinary course of business and not for the purpose of changing or influencing control. Reporting persons named are North Reef Capital Management LP, North Reef Capital Management GP LLC and James H. Hanna, III.

Insights

Financial Analyst

TL;DR: A passive, sub-5% stake with shared voting/dispositive power; limited immediate market impact.

The filing documents a 1,984,977-share position representing 4.3% of the class, reported on a Schedule 13G amendment consistent with passive ownership. Shared voting and dispositive power are disclosed while no sole power is shown. The filing includes a certification that the position is held in the ordinary course of business and not to influence control. For market impact, positions below 5% reported on a 13G are typically treated as passive and are unlikely by themselves to change control dynamics.

Corporate Governance Expert

TL;DR: Joint filing structure shows related entities reporting the stake; no expressed intent to exert control.

The filing is a joint disclosure by an investment manager, its GP, and an individual, each reporting the same 4.3% aggregate interest with shared voting and dispositive power. Item disclosures indicate ownership is "in the ordinary course of business" and not held to influence control, and Item 5 notes ownership is 5% or less of the class. There are no statements in the filing of group formation for control, dissolution, or transactions that would change governance composition.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TEXAS CAPITAL BANCSHARES INC/TX

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

88224Q107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 88224Q107

1

Names of Reporting Persons

North Reef Capital Management LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,984,977.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,984,977.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,984,977.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.3 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 88224Q107

1

Names of Reporting Persons

North Reef Capital Management GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,984,977.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,984,977.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,984,977.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.3 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 88224Q107

1

Names of Reporting Persons

James H. Hanna, III

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,984,977.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,984,977.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,984,977.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TEXAS CAPITAL BANCSHARES INC/TX
(b)	Address of issuer's principal executive offices: 2000 McKinney Avenue, Suite 700, Dallas, Texas, 75201
Item 2.
(a)	Name of person filing: This statement is filed on behalf of each of the following persons (collectively, the "Reporting Persons"): 1. North Reef Capital Management LP ("North Reef Capital"), a Delaware limited partnership and the investment manager of certain funds and accounts (collectively, "North Reef"), with respect to the shares of Common Stock (as defined in Item 2(d) below) directly held by North Reef. 2.North Reef Capital Management GP LLC ("North Reef GP"), a Delaware limited liability company, as the general partner of North Reef Capital, and 3.James H. Hanna, III, the managing member of North Reef GP. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the forgoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the shares of Common Stock reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is: 1833 South Coast Highway, Suite 210, Laguna Beach, California 92651
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP No.: 88224Q107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,984,977
(b)	Percent of class: 4.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote:
	(ii) Shared power to vote or to direct the vote: 1,984,977
	(iii) Sole power to dispose or to direct the disposition of:
	(iv) Shared power to dispose or to direct the disposition of: 1,984,977
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

North Reef Capital Management LP

Signature:	/s/ Daniel M. Locasto
Name/Title:	Chief Compliance Officer
Date:	08/14/2025

North Reef Capital Management GP LLC

Signature:	/s/ James H. Hanna, III
Name/Title:	Managing Member
Date:	08/14/2025

James H. Hanna, III

Signature:	/s/ James H. Hanna, III
Name/Title:	James H. Hanna, III
Date:	08/14/2025

Exhibit Information

EXHIBIT 99.1 - JOINT FILING AGREEMENT

FAQ

What stake did North Reef disclose in TCBI?

North Reef and related reporting persons disclosed ownership of 1,984,977 shares, representing 4.3% of Texas Capital Bancshares common stock.

Who are the reporting persons in this filing?

The filing was made by North Reef Capital Management LP, North Reef Capital Management GP LLC and James H. Hanna, III.

Does the filing indicate an intent to influence control of TCBI?

No. The certification states the securities are held in the ordinary course of business and were not acquired or held for the purpose of changing or influencing control.

What voting and dispositive powers are reported?

The reporting persons disclose shared voting power and shared dispositive power over the 1,984,977 shares and report no sole voting or sole dispositive power.

Was this filing a Schedule 13G or 13D?

This is a Schedule 13G amendment (a passive ownership disclosure) and Item 5 indicates ownership of 5 percent or less of the class.