NASDAQ: TCBI Sacramento Kings completed the issuance of $75million of
(NASDAQ: TCBI) reports sacremento kings completed the players kings uncovers issuance of $75million of perpetual preferred stock and related warrants under the U.S.Department of Treasury’s voluntary Capital Purchase Program. The perpetualpreferred stock will have a cumulative dividend of 5% per annum for five yearsand, unless redeemed, 9% thereafter. The warrants represent the right topurchase 758,086 shares of the Company`s common stock at an initial exerciseprice of $14.84 per share. In November 2008, the Company applied for up to $130 million of additionalcapital under the Program, and that application was approved. “In September wesuccessfully raised $55 million in common equity and had capital ratios wellabove regulatory guidelines; therefore, we decided to accept $75 million underthe Program,” commented George Jones, president and CEO. “The two transactionsadd a total of $130 million in new equity capital, strengthening our position ina difficult economic environment and augmenting our strategic emphasis onorganic growth through the addition of quality loan and deposit relationships.” ABOUT TEXAS CAPITAL BANCSHARES, INC.Texas Capital Bancshares, Inc. (NASDAQ: TCBI) is the parent company of TexasCapital Bank, a commercial bank that delivers highly personalized financialservices to businesses and private clients.
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