Texas Capital Bancshares (TCBI) in Dallas has added a board member who has held top risk positions with Barclays (BCS) and KeyCorp (KEY).
Charles Hyle has been elected to Texas Capital's board and will serve on its audit committee, the $11 billion-asset company announced this week. His election expands the bank's board to fifteen members.
Hyle was the chief risk officer for KeyCorp in Cleveland from 2004 through his retirement last year. Before joining KeyCorp, he spent 23 years with Barclays in a variety of roles, including chief credit officer and global head of portfolio management for its investment bank.
Hyle "is highly regarded as a senior risk executive in banking who has a deep understanding of what it takes to manage risks in a rapidly changing industry," Larry Helm, the chairman of Texas Capital's board, said in a news release. "We are confident that [Hyle] will make a significant contribution to our board and Texas Capital."
Texas Capital reshuffled several top executives this summer. Keith Cargill, Texas Capital's chief lending and operating officer, will take over the chief executive role when George Jones retires at the end of the year.
The company reported a profit of $33.5 million in the third quarter, 3% higher than in the same period of 2012. Its earnings per share of 75 cents missed the estimates of analysts polled by Bloomberg by 2 cents.
Texas Capital's net interest income rose 12%, to $108.8 million, as growth in loans more than compensated for a 15-basis-point decrease in the bank's net interest margin, to 4.21%. The bank's total loans grew by 10%, to $10.3 billion. Its expenses rose, noninterest income fell slightly and it had to pay the Federal Deposit Insurance Corp. a special $3 million assessment because its capital standing slipped below "well capitalized" in its 2011 and 2012 call reports, the company said this week.