Ted Strauss, a Dallas entrepreneur who helped establish two of the city's most-prominent banks, died Friday morning.

The news was first reported by the Dallas Morning News. Strauss was 89.

Strauss was a founder of the $13.5 billion-asset Texas Capital Bancshares, which opened in 1998. He also was a founder of the $97 million-asset United National Bank, which opened in 1975 and, through subsequent acquisitions, is now part of JPMorgan Chase.

He once worked as a managing director at Bear Stearns, an investment bank that was bought by JPMorgan during the financial crisis.

Before Strauss was a banker, he was an entrepreneur. He founded Susan Crane Packaging, a high-end gift wrapping company, in 1951, according to the Dallas Morning News.

Strauss' wife, Annette, was the first woman mayor of Dallas. She died in 1998.

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