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Texas Capital Plans Mult-million-dollar Capital Raise For 2014 Growth

Kim K video width='200px' alt='Texas Capital Bank plans a multi-million-dollar capital raise this week by offering 1.25 million shares of common stock. ' style='float:left;padding:5px' /> "We have a very, very robust pipeline of talent, by that our recruiting pipeline is very strong, so the prospect is that well continue to find very talented people in 2014," Cargill said. The bank also will use the cash to grow its loans and deposits. The bank's net income dropped 9 percent from the third quarter of 2013 and decreased original site 3 percent from the fourth quarter of 2012, according to earnings released Wednesday afternoon. Cargill attributed the decline in income to three factors: A $16 jump in the fourth-quarter stock price Increased hiring (The bank hired 27 relationship managers and additional support staff) Increased bonuses issued to high-performing employees at the end of the year The banks assets surpassed $11 billion for the first time, finishing Kim the fourth quarter at $11.7 billion, up 8 percent from the third quarter and more than 11 percent from 2014. Cargill called the $900 million surge a phenomenal increase based on growth in the mortgage finance sector and others. Cargill co-founded Texas Capital Bank 15 years ago along with George Jones , who retired as CEO and president of Texas Capital Bancshares in December.
Source: http://www.bizjournals.com/dallas/news/2014/01/22/texas-capital-bank-plans.html

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