Texas Capital Bancshares, Inc. Announces Full Redemption of 6.50% Subordinated Notes Due 2042
May 12 2021 - 4:30PM
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company
of Texas Capital Bank, N.A., announced today that it will redeem
all of the issued and outstanding 6.50% Subordinated Notes due 2042
(the “Notes”) on June 21, 2021 (the “Redemption Date”). The Notes
have an aggregate principal amount outstanding of $111,000,000.
The Notes will be redeemed for a redemption
price equal to 100.000% of the principal amount of the Notes plus
accrued and unpaid interest to but excluding the Redemption Date
(together, the “Redemption Price”). From and after the Redemption
Date, all interest will cease to accrue on the of Notes.
The Notes are held in book-entry form through
The Depository Trust Company (“DTC”) and will be redeemed in
accordance with the procedures of DTC. Investors in the Notes
should contact the bank or broker through which they hold a
beneficial interest in the Notes for information about obtaining
the Redemption Price for the Notes in which they have a beneficial
interest.
About Texas Capital Bancshares,
Inc.Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a
member of the Russell 2000® Index and the S&P MidCap 400®, is
the parent company of Texas Capital Bank, N.A., a commercial bank
that delivers highly personalized financial services to businesses
and entrepreneurs. Headquartered in Dallas, the bank has
full-service locations in Austin, Dallas, Fort Worth, Houston and
San Antonio. Member FDIC.
Forward Looking Statements
This communication contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 regarding our financial condition, results of
operations, business plans and future performance. These statements
are not historical in nature and can generally be identified by
such words as “believe,” “expect,” “estimate,” “anticipate,”
“plan,” “may,” “will,” “forecast,” “could,” “should,” “projects,”
“targeted,” “continue,“ “intend” and similar expressions.
Because forward looking statements relate to
future results and occurrences, they are subject to inherent
uncertainties, risks, and changes in circumstances that are
difficult to predict. A number of factors, many of which are beyond
our control, could cause actual results to differ materially from
future results expressed or implied by such forward looking
statements. These factors include, but are not limited to, (1) the
credit quality of our loan portfolio, (2) general economic
conditions in the United States, globally and in our markets and
the impact they may have on us and our customers, including the
continued impact on our customers from volatility in oil and gas
prices, (3) the material risks and uncertainties for the U S and
world economies, and for our business, resulting from the ongoing
COVID 19 pandemic and any other pandemic, epidemic or health
related crisis, (4) expectations regarding rates of default and
credit losses, (5) volatility in the mortgage industry, (6) our
business strategies, (7) our expectations about future financial
performance, future growth and earnings, (8) the appropriateness of
our allowance for credit losses and provision for credit losses,
(9) our ability to identify, employ and retain qualified employees,
(10) the impact of changing regulatory requirements and legislative
changes on our business, (11) increased competition, (12) interest
rate risk, (13) greater than expected costs or difficulties related
to the integration and development of new lines of business, new
products or service offerings and new technologies, (14)
technological changes, (15) the cost and effects of cyber incidents
or other failures, interruptions or security breaches of our
systems or those of third party providers and (16) our success at
managing the risk and uncertainties involved in the foregoing
factors. In addition, statements about the effects of the COVID 19
pandemic on the firm’s business, results, financial position,
liquidity and results of operations may constitute forward looking
statements and are subject to the risk that the actual impact may
differ, possibly materially, from what is currently expected.
These and other factors that could cause results
to differ materially from those described in the forward looking
statements, as well as a discussion of the risks and uncertainties
that may affect our business, can be found in our Annual Report on
Form 10-K, our Quarterly Reports on Form 10-Q and in other filings
we make with the Securities and Exchange Commission. The
information contained in this communication speaks only as of its
date. Except to the extent required by applicable law or
regulation, we disclaim any obligation to update such factors or to
publicly announce the results of any revisions to any of the
forward looking statements included herein to reflect future events
or developments.
INVESTOR CONTACT
Jamie Britton, 214.932.6721
jamie.britton@texascapitalbank.com
MEDIA CONTACT
Shannon Wherry, 469.399.8527
shannon.wherry@texascapitalbank.com
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