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US: Texas Capital Bancshares to merge with Independent Bank Group

By  |  December 9, 2019
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Texas Capital Bancshares and Independent Bank Group said on Monday they would combine in a transaction structured as a merger of equals, creating the second-largest lender by assets headquartered in the Lone Star state. 

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    US regional banks have been coming together as they seek scale to reduce costs and share the burden of investing in new technology. The return of interest-rate reductions in 2019 also puts pressure on banks’ profitability, as they can’t charge as much to lend money. 

    The combined company will have about $48 billion in assets and $39 billion in deposits, with legacy Texas Capital shareholders controlling 55% of the new bank, according to a joint statement.

    Full Content: Reuters

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