Texas Capital to offer series B noncumulative perpetual preferreds

By Taylor Fox

New York, Feb. 24 – Texas Capital Bancshares Inc. intends to sell series B noncumulative perpetual preferred stock, according to a 424B2 filing with the Securities and Exchange Commission.

The depositary shares will have a liquidation preference of $25.00 per share.

Morgan Stanley & Co. LLC, BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and UBS Securities LLC are the joint bookrunning managers.

Dividends will be payable on the 15th day of March, June, September and December, beginning June 15.

The bank can call the preferreds in whole or in part starting on June 15, 2026 or in whole within 90 days of a regulatory capital treatment event. The redemption price in either instance is par plus accrued interest.

Texas Capital has applied to list the new preferreds on the Nasdaq Global Select market under the ticker symbol “TCBIO.”

Proceeds will be used for general corporate purposes.

Texas Capital is based in Dallas.

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