Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company
of Texas Capital Bank, today announced that Daniel S. Hoverman has
been appointed as Executive Vice President of Texas Capital Bank
and Managing Partner and President of TCBI Securities, Inc.,
effective immediately.
In this newly created role, Mr. Hoverman will
report directly to Rob C. Holmes, President and CEO, and will lead
Texas Capital Bank’s Investment Banking Division, expanding its
existing syndications, equipment finance, hedging, asset-based loan
and related businesses, and establishing and operating its newly
formed, affiliated broker-dealer, TCBI Securities, Inc. Texas
Capital Bank has initiated the application process to register TCBI
Securities, Inc. with the Financial Industry Regulatory Authority
(FINRA), the Securities and Exchange Commission (SEC) and
applicable state regulatory agencies. Once approved, Texas Capital
Bank’s Investment Banking Division will provide its clients access
to a wide array of products, services and solutions, including
mergers and acquisitions advisory, capital raising, securities
underwriting, sales and trading, hedging and mortgage services.
Mr. Hoverman brings more than 20 years of
experience encompassing financial and legal roles in investment
banking, corporate advisory and capital markets. He most recently
served as Managing Director, Head of Corporate Advisory and
Sponsors Coverage at Regions Bank in Dallas, Texas, where he led a
team focused on originating and executing financing and advisory
transactions. Prior to that, Mr. Hoverman was a Director in the
Corporate Finance group at Houlihan Lokey in New York, where he
advised clients on mergers and acquisitions and capital markets
activities. He also previously held various financial and legal
roles at Credit Suisse, UBS Investment Bank and Kirkland &
Ellis in New York, London and Hong Kong.
“I am pleased to welcome Dan, a proven leader and
veteran investment banking professional, to Texas Capital Bank,”
said Mr. Holmes. “Dan’s track record of delivering successful
client outcomes across a range of investment banking products and
deep expertise with the appropriate legal, regulatory, risk and
compliance investment banking infrastructure, as well as his
personal and professional connections to the Texas market, will
prove invaluable in this new role. Under his leadership, Texas
Capital Bank will build on our commitment to deliver an enhanced
offering of products, services and solutions for our clients. I
look forward to sharing additional details about our vision for the
business more broadly on today’s strategic update call.”
Mr. Hoverman said, “It is an honor to join Texas
Capital Bank at this important moment in the company’s
transformation. I look forward to working with Rob and the team of
talented executives and bankers to build the premier Texas-based
investment banking platform.”
In a separate release, Texas Capital Bank today
announced updates to the Company’s go-forward strategy. Executive
management will host a conference call and webcast to discuss these
updates today, Wednesday, September 1, 2021 at 4:30 p.m. EDT.
About Daniel S. Hoverman
Mr. Hoverman joined Texas Capital Bank in August
2021 as Executive Vice President of Texas Capital Bank and Managing
Partner and President of TCBI Securities, Inc. Mr. Hoverman has
extensive mergers and acquisitions advisory and financing
experience, having completed more than $100 billion in transactions
for private and public companies and private equity firms in the
United States, Europe and Asia.
Mr. Hoverman earned a BA from Yale University,
where he was a Robert C. Bates Fellow and the New Prize recipient.
Mr. Hoverman also earned a JD and an MBA from Columbia University,
where he was a John M. Olin Fellow and a James Kent Scholar. He
holds FINRA Series 7, 24, 63 and 79 licenses, is a Chartered
Financial Analyst and is an inactive member of the New York
Bar.
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, a commercial bank that
delivers highly personalized financial services to businesses and
entrepreneurs. We are headquartered in Dallas, Texas, and work with
clients across the country. For more information, please visit
www.texascapitalbank.com. Member FDIC.
Forward Looking Statements
This press release contains “forward-looking
statements” within the meaning of and pursuant to the Private
Securities Litigation Reform Act of 1995 regarding, among other
things, our strategy, our enterprise-wide transformation, our
future performance, financial condition and business models, new
products and business initiatives, our plans for investments and
for growth and expansion, including establishing a broker-dealer,
and our targets for various future time periods, including expense
and revenue growth in 2022 and our plans to build tangible book
value. These statements are not historical in nature and may often
be identified by the use of words such as “expect,” “plan,” “may,”
“will,” “should”, “projects,” “target,” “continue,” “intend,”
“goals,” “growth,” “roadmap” and similar expressions.
Because forward-looking statements relate to future
results and occurrences, they are subject to inherent and various
uncertainties, risks, and changes in circumstances that are
difficult to predict, may change over time, are based on
management’s expectations and assumptions at the time the
statements are made and are not guarantees of future results. 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 and related
material risks and uncertainties 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 as well as the continued impact of
the COVID-19 pandemic (and any other pandemic, epidemic or
health-related crisis), (3) technological changes, including the
increased focus on information technology and cybersecurity and our
ability to manage such information systems and the effects of
cyber-incidents (including failures, disruptions or security
breaches) or those of third-party providers, (4) changes in
interest rates and changes in the value of commercial and
residential real estate securing our loans, (5) adverse economic or
market conditions that could affect the credit quality of our loan
portfolio or our operating performance, (6) expectations regarding
rates of default and credit losses and the appropriateness of our
allowance for credit losses and provision for credit losses, (7)
unexpected market conditions, regulatory changes or changes in our
credit ratings that could, among other things, cause access to
capital market transactions and other sources of funding to become
more difficult, (8) the inadequacy of our available funds to meet
our obligations, (9) the failure to effectively balance our funding
sources with cash demands by depositors and borrowers, (10)
material failures of our accounting estimates and risk management
processes based on management judgment, (11) failure of our risk
management strategies and procedures, including failure or
circumvention of our controls, (12) the failure to effectively
manage risk, (13) uncertainty regarding the London Interbank
Offered Rate and our ability to successfully implement any new
interest rate benchmarks, (14) the impact of changing regulatory
requirements and legislative changes on our business, (15) the
failure to successfully execute our business strategy, including
completing planned merger, acquisition or sale transactions, (16)
the failure to identify, attract and retain key personnel or the
loss of such personnel, (17) increased or more effective
competition from banks or other financial service providers in our
markets, (18) structural changes in the markets for origination,
sale and servicing of residential mortgages, (19) certainty in the
pricing of mortgage loans that we purchase, and later sell or
securitize, (20) volatility in the market price of our common
stock, (21) credit risk resulting from our exposure to
counterparties, (22) an increase in the incidence or severity of
fraud, illegal payments, security breaches and other illegal acts
impacting us, (23) the failure to maintain adequate regulatory
capital to support our business, (24) environmental liability or
other environmental, social or governance factors that may
materially negatively impact the company, (25) severe weather,
natural disasters, acts of war or terrorism and other external
events and (26) our success at managing the risk and uncertainties
involved in the foregoing factors.
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 “SEC”).
You can access our filings with the SEC through the SEC website at
www.sec.gov or through our website, and we strongly encourage you
to do so. 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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