Texas Capital Bancshares, Inc. Announces Redemption of 6,000,000 Shares of Its 6.50% Non-Cumulative Perpetual Preferred Stock, Series A

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[{"type":"text","content":"DALLAS, May 12, 2021 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, N.A., today announced that it will redeem all outstanding shares of its 6.50% Non-Cumulative Perpetual Preferred Stock, Series A, liquidation preference $25 per share (the “Series A Preferred Stock”). There are currently 6,000,000 shares of Series A Preferred Stock outstanding. The redemption date for the Series A Preferred Stock will be the dividend payment date on June 15, 2021 (the “Redemption Date”) and payment of the Redemption Price (as defined below) will be made on the Redemption Date. The redemption price for the Series A Preferred Stock will be $25 per share (the “Redemption Price”). Because the Redemption Date is a dividend payment date for the Series A Preferred Stock, the Redemption Price does not include declared and unpaid dividends. Regular quarterly dividends will be paid separately in the customary manner on June 15, 2021 to holders of record at the close of business on June 1, 2021. On and after the Redemption Date, no shares of Series A Preferred Stock will be outstanding and dividends in respect of the Series A Preferred Stock will no longer accrue. The Series A Preferred Stock is held in book-entry form through The Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Computershare Trust Company, N.A. and Computershare Inc. (collectively, “Computershare”), Texas Capital Bancshares, Inc.’s redemption agent for the Series A Preferred Stock. Computershare’s address is as follows: First Class/Registered/Certified Computershare Inc.150 Royall StreetCanton, MA 02021(800) 546-5141 Investors in the Series A Preferred Stock should contact the bank or broker through which they hold a beneficial interest in the Series A Preferred Stock for information about obtaining the Redemption Price for the Series A Preferred Stock in which they have a beneficial interest. 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, N.A., a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Headquartered in Dallas, the bank has full-service locations in...

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