Less than a year ago, Rob Holmes was a top JPMorgan Chase executive in Dallas with no intentions of making a career change. In August, he agreed to a one-hou.
Texas Capital Bank sells servicing rights to about $14 billion in mortgages Paul O Donnell, The Dallas Morning News
Texas Capital Bancshares Inc. is selling servicing rights to $14 billion in mortgages at “a modest premium” as it works to strengthen its balance sheet and refocus on its core businesses.
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The sale is expected to be completed in the second quarter.
“While the business was profitable and well run, it is not core to our strategy at this time,” CEO Rob Holmes told investors during a conference call to discuss the company’s quarterly results.
Holmes joined Texas Capital in January after a 31-year career at JPMorgan Chase. His arrival came after a $5.5 billion merger with McKinney-based Independent Bank fell apart last year, leading to the departure of longtime CEO Keith Cargill.
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