Simeon Rusanov
Long/short equity

Texas Capital Bancshares: Decent Bank At Bargain Price


Texas Capital Bancshares, Inc. (NASDAQ:TCBI) is a relatively small commercial banking service operating thirteen branches spread across the five major metropolitan areas of Texas. The company specializes in providing working capital to small and median size enterprises, construction funding and mortgage finance landing. Due to favourable economic condition and effective business model, Texas Capital's balance sheet has organically grown more than four times since 2005. As of the end of June 2014, company's total assets account for more than $13.5 billion which translates into market capitalisation of $2.2 billion.

Interest rates sensitivity

The first thing I spotted while flying though the financial reports of the company was the average duration of their products. The profitability of a...

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