Texas Capital Bancshares (TCBI) has released an update.
On January 17, 2024, the board of directors of the Company initiated a share repurchase program, allowing for the buyback of up to $150.0 million of its common stock. The program, which will be conducted in compliance with securities laws through open market or private transactions, will be influenced by various factors such as market conditions and capital availability. Management retains discretion over the specifics of the repurchase process, which may be suspended or ceased at any time before its expiration on January 31, 2025. This new authorization supersedes any remaining authority from the previous repurchase program dated January 18, 2023.
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