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Texas Capital Bancshares in Dallas plans to raise about $150 million by selling common stock.
November 13 -
Ted Strauss, a Dallas entrepreneur who helped establish two of the city's most-prominent banks, died Friday morning.
September 5 -
George Jones, who recently retired, is proud of how the Dallas company grew while avoiding acquisitions. He believes Texas Capital can quadruple to $40 billion in assets by staying the course.
December 31
Texas Capital Bancshares in Dallas reported a higher first-quarter profit on an increase in total loans and heightened demand for refinancing home loans.
The $17 billion-asset company said late Wednesday that its net income rose 26% from the same quarter last year, to $33 million.
Net interest income rose 20%, to $130 million. The net interest margin compressed 77 basis points, to 3.22%, due to increased liquidity and the addition of loans with lower average yields. Total deposits grew 45%, to $14 billion.
Texas Capital's provision for credit losses more than doubled, to $11 million, as the company increased the number of loans held for investment. Texas Capital also raised the provision because it expects to downgrade some energy-industry loans.
Fee income rose 18%, to $12 million, on increases in service charges on deposit accounts, brokered loan fees and swap fees.
Noninterest expense rose 10%. to $77 million, due to increases in salaries and employee benefits, and expenses related to occupancy, marketing, technology and other areas. The efficiency ratio improved 460 basis points, to 53.8%.
