If approved, it would be Texas Capital's first new branch since 2018, when it opened in Trinity Groves in west Dallas.
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Texas Capital Bank wants to open its first new branch in six years in the most affluent suburb of the Dallas-Fort Worth Metroplex.
The Dallas-based bank, a subsidiary of Texas Capital Bankshares (Nasdaq: TCBI), is located at 1538 E. Southlake Ave. in Southlake, according to a Feb. 7 filing with the Texas Department of Banking. We are aiming to open a base.
If approved, it would be Texas Capital's first new branch since 2018, when it opened in Trinity Groves in west Dallas.
Bank spokeswoman Julia Monter confirmed the plans for the new branch in an email.
“Texas Capital is opening a new financial center in Southlake and focusing on building relationships with the local and surrounding communities to serve the needs of current and future customers throughout the metropolitan area,” Monter said in a statement. I look forward to continuing in that capacity.” “Additional details will be provided closer to opening date later this year.”
The bank declined an interview request.
The new branch will be located at Southlake Town Square, a 130-acre mixed-use development owned and managed by Indianapolis-based Kite Realty Group Trust. Texas Capital will occupy 3,282 square feet of space previously occupied by TD Ameritrade, located just down the road from the Charles Schwab branch, according to an online retail brochure. Westlake-based Schwab and TD Ameritrade merged in 2020 in a $26 billion deal.
Other tenants at Southlake Town Center include Apple, Trader Joe's, Tesla and Fidelity.
Jason Casal, vice president and senior leasing director at Kite Realty Group, could not be reached for comment.
This represents a shift in strategy for Texas Capital. The mid-sized bank, which had $28.4 billion in assets as of Dec. 31, operates a branch-lite network with strategies focused on commercial banking, investment banking and private wealth management. In addition to one location in New York, Texas Capital has 10 branches in Dallas, Fort Worth, Austin, Houston, and San Antonio.
Under the leadership of Rob Holmes, who took over as CEO in 2021, Texas Capital has undergone a major transformation, including establishing an investment bank and expanding its treasury and private wealth services. Mr. Holmes aims to make Texas Capital a full-service financial institution and less dependent on loan growth.
Although Texas Capital does not have a large retail operation, opening a branch in Southlake will help the bank continue on the path it has made over the past three years. Southlake's ZIP code 76092 has topped the Dallas Business Journal's list of DFW's wealthiest ZIP codes for several years, based on a median household income of $240,694, and Texas Capital reliably serves It has become a hotbed for small and medium-sized businesses that want to provide services. .
“The fact that we have decided to open here is a testament to the strength of our local economy and reflects our commitment to fostering a business-friendly environment,” Southlake Mayor John Huffman said in a statement. said. “We look forward to the ribbon cutting later this year.”
Southlake has a population of approximately 31,000 people and is poised for continued growth. Huffman told the Dallas Business Journal last year that he wanted to attract more corporate headquarters. The town's office inventory totals over 4.2 million square feet, and its retail footprint exceeds 4.5 million square feet.
Texas Capital isn't the only bank eyeing an opportunity in Southlake. Texas Security Bank, Great Plains National Bank, and Origin Bank have expanded into the market within the past two years.
