Texas Capital Bancshares elects Rob C. Holmes as Chairman of the Board, recognizing his leadership and company transformation efforts.
Quiver AI Summary
Texas Capital Bancshares, Inc. announced that Rob C. Holmes, the current President and CEO, has been elected as Chairman of the Board following the 2025 Annual Meeting of Stockholders. This decision, praised by outgoing Chairman Bob Stallings, reflects confidence in Holmes' leadership and the successful transformation of the bank since 2021. Holmes expressed gratitude for the Board’s trust and emphasized the hard work of his team in achieving their strategic goals. Stallings will continue to serve on the board as Lead Independent Director after receiving a waiver from the retirement policy to ensure a smooth transition. The bank also reported positive operating results for the fourth quarter and full-year 2024, indicating readiness for continued growth in 2025.
Potential Positives
- Rob C. Holmes being elected as Chairman of the Board demonstrates strong confidence from the Board in his leadership and strategic vision, indicating continuity and focus on the company's future direction.
- The transition of responsibilities to Holmes is part of a broader multi-year transformation that has successfully positioned Texas Capital for future growth, highlighting effective management practices.
- The announcement reflects a successful execution of strategic milestones, with positive operating results indicated for the fourth quarter and full-year 2024, showcasing the company's financial health and readiness for growth in 2025.
Potential Negatives
- The announcement of Rob C. Holmes holding dual roles as President & CEO and Chairman of the Board could raise concerns about governance practices and concentration of power within the company.
- The waiver granted to outgoing Chairman Bob Stallings to stand for reelection despite retirement policy may indicate a lack of succession planning within the Board.
- The press release contains numerous forward-looking statements that highlight uncertainties and potential risks, which could create apprehension for investors regarding future performance and stability.
FAQ
Who has been elected as Chairman of the Board at Texas Capital Bancshares?
Rob C. Holmes has been elected as Chairman of the Board immediately after the 2025 Annual Meeting of Stockholders.
What was the reason for Rob C. Holmes's election as Chairman?
The decision reflects the Board's confidence in his leadership and the success of Texas Capital's multi-year transformation.
Who is the outgoing Chairman of the Board for Texas Capital?
Bob Stallings, who has served as Chairman since April 2023, is stepping down as Chairman while remaining on the Board.
What strategic goals has Texas Capital Bancshares achieved?
Texas Capital has successfully executed significant strategic milestones since 2021 and is positioned for strong future growth in 2025.
What services does Texas Capital Bancshares offer?
Texas Capital provides commercial banking, consumer banking, investment banking, and wealth management services tailored to businesses and individuals.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TCBI Congressional Stock Trading
Members of Congress have traded $TCBI stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $TCBI stock by members of Congress over the last 6 months:
- REPRESENTATIVE JOSH GOTTHEIMER purchased up to $15,000 on 10/31.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.
$TCBI Insider Trading Activity
$TCBI insiders have traded $TCBI stock on the open market 13 times in the past 6 months. Of those trades, 13 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $TCBI stock by insiders over the last 6 months:
- ROBERT W STALLINGS has made 13 purchases buying 111,980 shares for an estimated $2,286,162 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TCBI Hedge Fund Activity
We have seen 116 institutional investors add shares of $TCBI stock to their portfolio, and 117 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- NORTH REEF CAPITAL MANAGEMENT LP removed 425,000 shares (-20.2%) from their portfolio in Q3 2024, for an estimated $30,370,499
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 382,171 shares (+13.2%) to their portfolio in Q3 2024, for an estimated $27,309,939
- ARISTOTLE CAPITAL BOSTON, LLC removed 227,863 shares (-50.5%) from their portfolio in Q3 2024, for an estimated $16,283,089
- BLACKROCK, INC. removed 196,293 shares (-3.3%) from their portfolio in Q3 2024, for an estimated $14,027,097
- AQR CAPITAL MANAGEMENT LLC removed 178,629 shares (-16.4%) from their portfolio in Q3 2024, for an estimated $12,764,828
- BANK OF AMERICA CORP /DE/ removed 171,561 shares (-51.9%) from their portfolio in Q3 2024, for an estimated $12,259,749
- WELLINGTON MANAGEMENT GROUP LLP added 150,301 shares (+15.4%) to their portfolio in Q3 2024, for an estimated $10,740,509
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DALLAS, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital, today announced that its Board of Directors (the Board) unanimously elected Rob C. Holmes, Texas Capital’s President & Chief Executive Officer and existing Board Director, to also serve as Chairman of the Board immediately following the 2025 Annual Meeting of Stockholders.
“The decision to entrust Chairman of the Board responsibilities to Rob is a validation of the success of the multi-year transformation he has led for Texas Capital,” said Bob Stallings, Texas Capital’s outgoing Chairman of the Board who will assume the role of Lead Independent Director. “Rob and his team continue to deliver on every aspect of the strategic plan he communicated in 2021, and I am proud to say that Texas Capital is well-positioned for strong future growth.”
“I am honored by the trust the Board of Directors has placed not just in me, but in the incredible team we have built. We committed to build the premier full-service financial services firm headquartered in Texas, serving the very best clients across all business cycles, and I am gratified by what we have achieved to date and am excited about what we will do next,” Holmes said. “The dedication of our employees who execute our strategy every single day are the unquestioned driving force behind the continued success of the firm.”
Stallings, who has served as Texas Capital’s Chairman of the Board since April 2023 and as a Director since August 2001, will receive a one-year waiver from the Board of its retirement policy to permit him to stand for reelection to the Board at the 2025 Annual Meeting. This decision was made in recognition of Stallings’ valuable contributions to Texas Capital as it continues to execute on its multi-year transformation and to facilitate a smooth transition of his responsibilities to Holmes.
“The Board’s actions reflect its deep confidence in Rob’s transformational leadership and strategic vision for Texas Capital,” added Stallings. “This new governance structure provides an effective consolidation of leadership under Rob, along with a balance of oversight by independent directors.”
Texas Capital also announced its operating results for the fourth quarter and full-year 2024 today.
Commenting on Texas Capital’s performance, Holmes observed, “We are poised to deliver in 2025 off the momentum built since 2021, with the successful execution of significant strategic milestones and the realization of client adoption trends. We achieved these financial milestones while maintaining industry-leading capital and liquidity, a proven competitive advantage, through market and rate cycles.”
Holmes concluded, “I would also like to thank Bob for his service as Chairman, his stewardship as a Director over the last 24 years and his mentorship to me over the last four years. His insight and guidance have been invaluable, and I am very pleased and grateful that Bob will remain on the Board and serve as Texas Capital’s first Lead Independent Director while we continue to drive execution through 2025.”
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 (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit www.texascapital.com .
Forward Looking Statements
This communication contains “forward-looking statements” within the meaning of and pursuant to the Private Securities Litigation Reform Act of 1995 regarding, among other things, TCBI’s financial condition, results of operations, business plans and future performance. These statements are not historical in nature and may often be identified by the use of words such as “believes,” “projects,” “expects,” “may,” “estimates,” “should,” “plans,” “targets,” “intends” “could,” “would,” “anticipates,” “potential,” “confident,” “optimistic” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, trends, guidance, expectations and future plans.
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. Numerous risks and other factors, many of which are beyond management’s control, could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. While there can be no assurance that any list of risks is complete, important risks and other factors that could cause actual results to differ materially from those contemplated by forward-looking statements include, but are not limited to: economic or business conditions in Texas, the United States or globally that impact TCBI or its customers; negative credit quality developments arising from the foregoing or other factors; increased or expanded competition from banks and other financial service providers in TCBI’s markets; TCBI’s ability to effectively manage its liquidity and maintain adequate regulatory capital to support its businesses; TCBI’s ability to pursue and execute upon growth plans, whether as a function of capital, liquidity or other limitations; TCBI’s ability to successfully execute its business strategy, including its strategic plan and developing and executing new lines of business and new products and services and potential strategic acquisitions; the extensive regulations to which TCBI is subject and its ability to comply with applicable governmental regulations, including legislative and regulatory changes; TCBI’s ability to effectively manage information technology systems, including third party vendors, cyber or data privacy incidents or other failures, disruptions or security breaches; TCBI’s ability to use technology to provide products and services to its customers; risks related to the development and use of artificial intelligence; changes in interest rates, including the impact of interest rates on TCBI’s securities portfolio and funding costs, as well as related balance sheet implications stemming from the fair value of our assets and liabilities; the effectiveness of TCBI’s risk management processes strategies and monitoring; fluctuations in commercial and residential real estate values, especially as they relate to the value of collateral supporting TCBI’s loans; the failure to identify, attract and retain key personnel and other employees; adverse developments in the banking industry and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments, including in the context of regulatory examinations and related findings and actions; negative press and social media attention with respect to the banking industry or TCBI, in particular; claims, litigation or regulatory investigations and actions that TCBI may become subject to; severe weather, natural disasters, climate change, acts of war, terrorism, global conflict (including those already reported by the media, as well as others that may arise), or other external events, as well as related legislative and regulatory initiatives; and the risks and factors more fully described in TCBI’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents and filings with the SEC. 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.