Texas Capital Bank Appoints David A. Youngberg Jr. to Serve as Chief Credit Officer

Rhea-AI Summary

Texas Capital Bancshares, Inc. (NASDAQ: TCBI) announced the appointment of David A. Youngberg Jr. as managing director and chief credit officer, effective immediately. Youngberg brings over 20 years of experience in credit risk and enterprise risk management, previously serving at Goldman Sachs in various senior roles. In his new role, he will oversee Texas Capital Bank's credit approval, underwriting, and monitoring processes, reporting directly to Chief Risk Officer Tim Storms. Youngberg expressed enthusiasm for shaping the bank's credit framework to better serve clients nationwide. This leadership change aims to enhance the bank's risk discipline and support its growth as a premier financial services firm in Texas.

Positive

• Youngberg's extensive experience in credit risk management may strengthen the bank's risk discipline.
• His appointment is expected to positively impact the growth of Texas Capital Bank's credit organization.

Negative

• Concerns may arise regarding continuity and potential experience gaps as the bank undergoes leadership changes.

DALLAS, April 11, 2023 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank, today announced that David A. Youngberg Jr. has joined the firm as managing director and chief credit officer, effective immediately.

Youngberg brings more than two decades of credit risk and enterprise risk management experience to Texas Capital Bank. Most recently, he served as managing director and head of Goldman Sachs’ risk division office in Dallas. Youngberg previously served in Goldman Sachs’ credit risk management and advisory group as a senior credit officer and commodities credit risk manager in New York. Over his career he has covered numerous industries as well as a variety of products across the credit risk management spectrum.

“David is a proven, solutions-focused leader, and his expertise and broad range of experience make him an excellent addition to our team as we progress in building a best-in-class risk discipline,” said Texas Capital Bank Chief Risk Officer Tim Storms. “David will play a key role in the continued growth of our credit organization as we solidify Texas Capital Bank as the premier financial services firm headquartered in Texas.”

As chief credit officer, Youngberg is responsible for directing the strategy for Texas Capital Bank’s credit approval, underwriting and monitoring processes. Youngberg reports directly to Storms.

“It is an honor to join Texas Capital Bank with the unique opportunity to help shape our credit framework as it evolves to better serve our clients across the state and the country,” said Youngberg.

About David A. Youngberg Jr.

David Youngberg joined Texas Capital Bank on March 31, 2023, as chief credit officer. Previously, he served in progressive leadership roles over a 20-year career at Goldman Sachs. David first joined Goldman Sachs in the credit department and over his career covered numerous industries as well as a variety of products across the credit risk management spectrum. Prior, he served as an active-duty engineer officer in the U.S. Army.

Youngberg earned a Bachelor of Science from the United States Military Academy and a Master of Business Administration from the University of Pennsylvania. He is a retired colonel in the U.S. Army Reserve and a veteran of Operation Desert Storm and Operation Iraqi Freedom.

About Texas Capital Bank 
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.

TCBI Securities, Inc., doing business as Texas Capital Securities, is a member of FINRA and SIPC and has registered with the SEC and other state securities regulators as a broker dealer. TCBI Securities, Inc. is a subsidiary of Texas Capital Bank. Securities and other investment products offered by TCBI Securities, Inc. are not FDIC insured, may lose value and are not bank guaranteed. For more information, please visit www.texascapitalbank.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b6b13aa0-5430-4e84-9f8f-58eaeaa22882

FAQ

Who is David A. Youngberg Jr. and what is his role at Texas Capital Bancshares?

David A. Youngberg Jr. is the newly appointed managing director and chief credit officer at Texas Capital Bancshares, responsible for the bank's credit approval and monitoring processes.

What experience does Youngberg bring to Texas Capital Bank?

Youngberg has over 20 years of experience in credit risk and enterprise risk management, most recently serving at Goldman Sachs.

What are Youngberg's responsibilities as chief credit officer?

As chief credit officer, Youngberg will direct the strategy for credit approval, underwriting, and monitoring processes at Texas Capital Bank.

When did David A. Youngberg assume his position at Texas Capital Bank?

David A. Youngberg assumed his position as chief credit officer on April 11, 2023.

How might Youngberg's appointment affect Texas Capital Bancshares' growth?

His extensive background in credit risk management is expected to enhance the bank's credit organization and risk discipline, potentially supporting growth.