Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, April 1, 3:19 PM
|This Slide: #523 of 609|
Slide #523. Texas Capital Bancshares, Inc. — Preferred Stock Offering
Texas Capital Bancshares, Inc. (NASDAQ:TCBI)
Price Per Share:
Preferred Stock Offering Details:
Texas Capital Bancshares, Inc. (Texas Capital) (NASDAQ:TCBI), the parent company of Texas Capital Bank, today announced the pricing of a public offering of 6,000,000 shares, or $150 million in aggregate liquidation preference, of its 6.5% non-cumulative perpetual preferred stock, Series A, par value $.01. The preferred stock has a liquidation preference of $25 per share (the "Preferred Stock"). Texas Capital expects to use the net proceeds of this offering for general corporate purposes.
Texas Capital Bancshares is a bank holding company. Through its subsidiary, Texas Capital Bank, Co. serves commercial businesses and personnel and entrepreneurs located in Texas as well as operates several lines of business serving a regional or national clientele of commercial borrowers. Co. is mainly a lender, with the majority of its loans held for investment, excluding mortgage finance loans and other national lines of business, being made to businesses headquartered or with operations in Texas. Co. provides a variety of deposit products including commercial checking accounts, lockbox accounts, cash concentration accounts and other treasury management services, including online banking.
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Hold (2.45 out of 4)
(ranked lower than approx. 90% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com