Texas Capital Bancshares, Inc. Announces Continued Execution of Its Strategic Transformation Through the Sale of Its Insurance Premium Finance Business
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Tuesday, September 6, 2022
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The sale of BankDirect includes its business operations and loan portfolio of approximately $3.1 billion as of June 30, 2022.
Key Points:
- The sale of BankDirect includes its business operations and loan portfolio of approximately $3.1 billion as of June 30, 2022.
- Additionally, given the expected growth in the core business strategy, Texas Capital is reaffirming forward guidance of delivering year-over-year quarterly operating leverage by year-end.
- Morgan Stanley & Co. LLC and Texas Capital Securities served as financial advisors to Texas Capital.
- Texas Capital will host a public conference call to discuss the transaction at 9:00 a.m. Central Time today.