A new bank company that will target high-net-worth customers has completed its initial capitalization and is set to open next month in Dallas.
The start-up company, Texas Capital Bancshares, obtained a charter when it acquired 15-month-old Resource Bank of North Dallas late last year. Its plan is to move Resource to Dallas in February, rename it Texas Capital Bank, and open 19 more branches in Fort Worth, Houston, San Antonio, and other Texas cities in the next two years.
Texas Capital is also launching an Internet branch so it can collect deposits nationwide.
The new bank will be capitalized with $78 million, which it says will allow it to serve upper-income clients and businesses with lending needs of $10 million to $15 million. Resource Bank had only $11 million of assets at midyear 1998, which limited its loans to a maximum of $650,000.