S&P ups Texas Capital Bancshares

S&P said it upgraded its ratings for Texas Capital Bancshares Inc. and its subsidiary Texas Capital Bank NA by one notch each, to BBB- and BBB, respectively.

“We raised our ratings on TCBI to reflect the improvement in its balance sheet and its efforts to grow its fee income and diversify its franchise. The company has reduced its reliance on higher-risk funding sources, added liquidity and increased its capital ratios. Its stable funding ratio rose to 115% at Sept. 30, 2021, from 109% at Dec. 31, 2020, by our calculation, roughly in line with the median of rated U.S. banks,” the agency said in a press release.

The outlooks are stable.

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