Texas Capital to Raise Capital, Misses Earnings Estimates

By Olivero, Antonio | American Banker, January 23, 2014 | Go to article overview

Texas Capital to Raise Capital, Misses Earnings Estimates


Olivero, Antonio, American Banker


Byline: Antonio Olivero

Texas Capital Bancshares (TCBI) is planning to sell 1.25 million shares of common stock in a public offering.

The $11.7 billion-asset company said in a regulatory filing that will also offer underwriters a 30-day option to buy up to an additional 15% of common stock. The company did provide a price for the offering; its shares closed Wednesday at $63.52 a share.

Texas Capital also said it could also pursue a bank level Tier II offering, subject to market conditions. Proceeds from the offerings would be used for general corporate purposes, including providing capital to the bank. Deutsche Bank Securities and Macquarie Capital will manage the offering.

Separately, Texas Capital said its fourth-quarter earnings fell 3% from a year earlier, to $30.4 million. The company's earnings per share number of 67 cents missed the average estimate of analysts polled by Bloomberg by 12 cents. …

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