Texas Capital BancShares Inc. (NASDAQ:TCBI) Q4 2019 Earnings Conference Call - Final Transcript

Jan 22, 2020 • 05:00 pm ET


Texas Capital BancShares Inc. (NASDAQ:TCBI) Q4 2019 Earnings Conference Call - Final Transcript


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Welcome to the Texas Capital Bancshares Fourth Quarter 2019 Earnings Conference Call. All participants will be in listen-only mode during the presentation. Please note this event is being recorded. [Operator Instructions] I would now like to turn the call over to Shannon Wherry, Director of Communications. Please go ahead.

Shannon Wherry

Thank you for joining us for TCBI's fourth quarter 2019 earnings conference call. I am Shannon Wherry, Director of Communications. Before we begin, please be aware this call will include forward-looking statements that are based on our current expectations of future results or events. Forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from these statements. These risks and uncertainties include those relating to the pending merger between TCBI and Independent Bank Group. Our forward-looking statements are as of the date of this call, and we do not assume any obligation to update or revise them. Statements made on this call should be considered together with the cautionary statements and other information contained in today's earnings release, our most recent annual report on Form 10-K and subsequent filings with the SEC.

We will refer to slides during today's presentation, which can be found along with the press release in the Investor Relations section of our website at texascapitalbank.com. Our speakers for the call today are Keith Cargill, President and CEO; and Julie Anderson, CFO. At the conclusion of our prepared remarks, our operator will facilitate a Q&A session.

And now I will turn the call over to Keith, who will begin on Slide 4 of the webcast.

C. Keith Cargill

Thank you, Shannon. And thank you all for joining us. Today, I will first discuss the highlights of our fourth quarter and full year 2019 and Julie Anderson will cover her financial review of the quarter, year and guidance for 2020. Finally, I will offer closing comments on 2019 and plans for 2020 including our announced merger with Independent Financial. We'll then open up the call for Q&A.

As Shannon mentioned, let's begin on Slide 4. As we've discussed, we are always looking for ways to further refine our organization, processes and products at Texas Capital Bank. We believe that developing more comprehensive and strategic client relationships leads to improved efficiency, revenue growth and continued strong client introductions to new prospects. To that end, I want to start the call off by discussing our latest initiative to enhance our deposit pipeline and position Texas Capital Bank for the future.

Next week we will be officially launching our newest deposit vertical, Bask Bank, a digital bank, that rewards savers with travel rewards. This deposit vertical functions both as a business and as a capability for Texas Capital Bank. As a business Bask Bank will allow our customers to earn airline miles from their savings accounts through our long-time partnership with American Airlines. As a capability, the buildout of Bask Bank and the digital platform has taught us new skills in digital marketing, digital acquisition and