Texas Capital Bank to Relocate Richardson Offices to Blue Cross and Blue Shield of Texas Campus
Texas Capital Bancshares (NASDAQ: TCBI) announced plans to relocate its Richardson offices to a new campus by Q4 2023. The Bank has signed a 15-year lease with Blue Cross and Blue Shield of Texas, moving to 1001 East Lookout Drive. This consolidation aims to enhance the efficiency of its Technology and Operations teams, reflecting the Bank's commitment to growth. The new location boasts amenities that will improve employee and client experiences, aligning with the Bank's strategy to become a leading financial services firm in Texas.
- Relocation to a new, modern campus with enhanced facilities for employees.
- Commitment to long-term lease (15 years) indicating stability.
- Consolidation of offices will improve operational efficiency.
- New site will support the growth of Technology and Operations departments.
- None.
Texas-based financial institution announces real estate changes to accommodate growth trajectory
DALLAS, June 16, 2022 (GLOBE NEWSWIRE) -- Texas Capital Bancshares, Inc. (NASDAQ: TCBI), the parent company of Texas Capital Bank (“the Bank”), today announced it will relocate and unite its Richardson, Texas, offices and banking center to a new campus by the fourth quarter of 2023.
Texas Capital Bank has signed a 15-year lease term with Blue Cross and Blue Shield of Texas (BCBSTX) and will occupy four floors in one of its Texas headquarters buildings located on its campus at 1001 East Lookout Drive in Richardson. As a continuation of the Bank’s overarching strategy, the decision to move and consolidate its real estate portfolio reflects its commitment to serving the best clients by having a presence in key market locations.
“The relocation of our offices in Richardson to one unified campus allows us to effectively and efficiently build the talent and resources of our Technology and Operations departments, which are crucial to the execution of our strategy as we remain dedicated to building the most comprehensive financial services firm headquartered in Texas,” said John Cummings, Executive Vice President, Chief Administrative Officer of Texas Capital Bank. “As we aim to be the employer of choice for people interested in growing their careers in financial services and technology, this workspace allows us to provide top-of-the-line accommodations for our hardworking and talented teams. We are very much looking forward to establishing this as our North Dallas Campus and truly appreciate the partnership of Blue Cross and Blue Shield of Texas.”
The new location provides Texas Capital Bank with the capacity and upgrades needed for its Technology and Operations teams to work comfortably and collaboratively as the departments continue to grow and serve the evolving needs of the Bank’s clients.
“We are delighted to welcome Texas Capital Bank as a long-term tenant to our Richardson office,” said James “Jim” Springfield, President of BCBSTX. “This agreement is about optimizing our resources and being a fully integrated part of the growing business community in Richardson and across the state. Like us, Texas Capital Bank is committed to being a good community partner and we’re happy to have their employees become our new neighbors.”
The 1.05-million-square-feet BCBSTX campus, located southeast of Central Expressway and President George Bush Turnpike, opened in 2010 and encompasses two buildings, a multistory parking garage, and a host of amenities including an on-site cafeteria, conference center equipped with 15 meeting rooms, an auditorium that seats 300 people, and a complete fitness center featuring a private dance studio and locker rooms. Texas Capital Bank has begun design and programming planning for its North Dallas Campus to meet the future needs of its employees and clients.
“It is of the utmost importance for Texas Capital Bank to provide premium office spaces for our growing population of employees, and our new real estate footprint in Richardson will allow for an improved employee and client experience,” said Catherine Zalatoris, Texas Capital Bank’s Executive Vice President, Head of Corporate Real Estate. “Our main focus is to create solutions for our teams’ immediate and long-term corporate real estate needs, and we are proud to be working side-by-side with Blue Cross and Blue Shield of Texas in this process.”
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. For more information, please visit www.texascapitalbank.com. Member FDIC.
About Blue Cross and Blue Shield of Texas
Blue Cross and Blue Shield of Texas (BCBSTX) — the only statewide, customer-owned health insurer in Texas — is the largest provider of health benefits in the state, working with nearly 80,000 physicians and health care practitioners, and 500 hospitals to serve more than 6 million members in all 254 counties. BCBSTX is a Division of Health Care Service Corporation (HCSC) (which operates Blue Cross and Blue Shield plans in Texas, Illinois, Montana, Oklahoma, and New Mexico), the country's largest customer-owned health insurer. Health Care Service Corporation is a Mutual Legal Reserve Company and an Independent Licensee of the Blue Cross and Blue Shield Association.
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