Texas Capital Bancshares is a Texas-based commercial bank and financial services firm serving middle market businesses, corporations, entrepreneurs, and high-net-worth individuals, primarily in Texas. Texas Capital's pitch is that it functions as a full-service primary operating bank — not just a lender — offering clients commercial loans, treasury management, investment banking, and private wealth services through relationship bankers organized by industry vertical across Austin, Dallas, Fort Worth, Houston, and San Antonio. Texas Capital earns revenue through net interest income (NII) from its largely floating-rate loan portfolio, and fee income from investment banking, treasury services, and wealth management. NII is the larger driver at roughly 80% of adjusted revenue, while fees account for the remaining ~20%. Beyond core Texas commercial banking, Texas Capital runs several national businesses: mortgage warehouse lending (short-term credit lines to mortgage originators), an investment bank (Texas Capital Securities) offering debt and equity capital markets, M&A advisory, syndications, and trading, and Bask Bank, an online deposit platform that rewards depositors with American Airlines miles. Texas Capital has been executing a multi-year transformation since 2021 to evolve from a pure commercial lender into a full-service financial services firm, with treasury product fees growing ~91% since then and investment banking scaled to a top-2 middle market syndications arranger nationally. Management argues that bundling loans, treasury, investment banking, and wealth services together makes clients less price-sensitive, supporting margins through rate cycles.