Texas Capital Bancshares, Inc. Appoints Thomas E. Long to Board of Directors

Rhea-AI Summary

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) appointed Thomas E. Long to its Board of Directors, expanding the board to 12 members. Long, co-CEO of Energy Transfer LP, brings over 30 years of leadership experience in the energy sector. He aims to leverage his financial expertise to contribute to Texas Capital's strategic initiatives. The management expressed optimism about Long's appointment, stating it aligns with their enterprise transformation plan to enhance financial services and shareholder value. Long holds a BA in Accounting and is a Certified Public Accountant.

Positive

• Thomas E. Long's extensive leadership experience in the energy industry could provide valuable perspectives for strategic growth.
• The expansion of the board is part of the company's transformation plan aimed at enhancing financial services and increasing shareholder value.

Negative

• Concerns may arise regarding the continuity of the board's dynamic with the addition of a new member.
• Long's experience is primarily in the energy sector, which may not translate directly to the financial services industry.

DALLAS, May 16, 2022 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, today announced the appointment of Thomas E. Long to its Board of Directors, effective immediately. With Mr. Long’s appointment, the Board will be expanded to 12 directors.

Mr. Long currently serves as co-Chief Executive Officer of Energy Transfer LP, owner and operator of one of the largest and most diversified portfolios of energy assets in North America. He brings more than three decades of leadership experience in the energy industry to his new role. He has previously held senior roles at Regency GP LLC, Matrix Service Company, DCP Midstream Partners, and Duke Energy.

“We are delighted to welcome Tom to the Texas Capital Board,” said Larry Helm, Chairman of the Board. “Tom is an experienced professional with a proven track record in financial leadership and deep experience in the Texas market. We look forward to benefitting from his expertise as we execute on our new strategic plan and continue to deliver best-in-class financial services and solutions to our clients and bring value to our shareholders.”

Rob C. Holmes, President and CEO, added, “Building the right Texas Capital Bank team for the firm we aspire to be was one of the core strategic tenets of our enterprise-wide transformation plan, including adding additional talented individuals to our Board. Tom’s expertise and knowledge will be invaluable to Texas Capital as we continue to expand our best-in-class financial services to our clients and create additional value to build the company for the future.”

Mr. Long said, “I am excited to join the Texas Capital Board as the Company furthers its commitment to become the flagship financial services firm in Texas. I look forward to working with the entire Texas Capital Board to continue building on the Company’s 22-year history of growth.”

In his current role, Mr. Long oversees the Company’s leadership and strategic direction in delivering energy safely and responsibly to its customers throughout the world. From 2016 through 2020, he served as Energy Transfer’s Group Chief Financial Officer. Previously, he served as Executive Vice President and Chief Financial Officer of Regency GP LLC and as Vice President and Chief Financial Officer of DCP Midstream Partners. Prior, he served in executive leadership positions of increasing responsibility at subsidiaries of Duke Energy Corp., one of the nation’s largest electric power companies. He currently serves on the Board of Directors of Energy Transfer LP and as Chairman of USA Compression Partners, LP.

Mr. Long received his BA in Accounting from Lamar University and is a Certified Public Accountant.

About Texas Capital Bancshares 

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, a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio, and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital Bank has established commercial banking, consumer banking, investment banking and wealth management capabilities. For more information, please visit www.texascapitalbank.com. Member FDIC.

FAQ

Who is Thomas E. Long in relation to Texas Capital Bancshares?

Thomas E. Long is the newly appointed member of the Board of Directors for Texas Capital Bancshares.

What is the significance of Long's appointment to TCBI's Board?

Long's appointment is expected to strengthen the board's leadership and support the company's strategic initiatives.

How many directors are now on the Texas Capital Bancshares Board?

With Long's appointment, the Board of Directors has been expanded to 12 members.

What experience does Thomas E. Long bring to TCBI?

Long brings over 30 years of leadership experience in the energy sector and has held senior roles in various companies.

What are the strategic goals that TCBI aims to achieve with Long's addition?

TCBI aims to enhance its financial services and increase shareholder value through its transformation plan.