Independent Financial, Texas Capital Bancshares reveal new board

DALLAS and MCKINNEY, Texas — Texas Capital Bancshares Inc. (Nasdaq: GBNK) will have a majority of former directors on the combined board of the new bank being created in the ongoing merger with Independent Bank Group Inc. (Nasdaq: IBTX).

In a statement Monday, the two banks said seven of Texas Capital’s current directors will make a majority of the 13-member board compared to Independent’s six, but Independent’s President and CEO David Brooks will take the reins of the combined company.

Independent acquired Denver-based Guaranty Bank for $1 billion in January 2019, when it was the fifth largest bank in Northern Colorado and the Boulder Valley at the time. It will keep its branding for Colorado branches in Berthoud, Brighton, Boulder, Eaton, Fort Collins, Greeley, Longmont, Loveland and Westminster. It has a total of 32 branches in the state.

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Independent later announced a merger with Texas Capital in December in a $5.5 billion deal.

Texas Capital’s continuing directors include Larry Helm, James Browning, David Huntley, Charles Hyle, Robert Stallings, Dale Tremblay and Patricia Watson. Independent’s slate of directors include Brooks, William Fair, J. Webb Jennings III, Alicia Harrison, G. Stacy Smith and Michael Viola.