UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): October 13, 2005 (October 6, 2005)
TEXAS CAPITAL BANCSHARES, INC.
(Name of Registrant)
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| Delaware
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000-30533
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75-2679109 |
(State or other jurisdiction of
incorporation or organization)
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(Commission
File Number)
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(I.R.S. Employer
Identification Number) |
2100 McKinney Avenue, Suite 900, Dallas, Texas, U.S.A.
(Address of principal executive officers)
75201
(Zip Code)
214-932-6600
(Registrant’s telephone number,
including area code)
N/A
(Former address of principal executive offices)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
TABLE OF CONTENTS
ITEM 1.01 Entry into a Material Definitive Agreement
On October 6, 2005, Texas Capital Bancshares, Inc. (the “Company”) completed the private
placement of $25,000,000 aggregate liquidation amount of Fixed/Floating Rate Capital Securities
(the “Capital Securities”) issued by its newly formed Delaware statutory trust, Texas Capital
Statutory Trust III (the “Trust”). The proceeds from the sale of the Capital Securities, together
with the proceeds from the sale by the Trust of its Common Securities to the Company, were invested
in Fixed/Floating Rate Junior Subordinated Deferrable Interest Debentures of the Company due 2035
(the “Debentures”), which were issued pursuant to an Indenture dated October 6, 2005, between the
Company and Wilmington Trust Company, a Delaware banking corporation (“Wilmington Trust”), as
Trustee. Both the Capital Securities and the Debentures have the following characteristics: a term
of 30 years, maturing on October 6, 2035; a fixed rate of interest of 6.19% for five years through
December 15, 2010, a floating rate of interest for the remaining 25 years that resets quarterly to
1.51% above the 3-month LIBOR rate; interest payments will be made quarterly on December 15, March
15, June 15 and September 15. The interest paid by the Company on the Debentures will be the
source of funds for the Trust to make the interest payments on the Capital Securities. Payments of
distributions and other amounts due on the Capital Securities are guaranteed by the Company, to the
extent that the Trust has funds available for the payments of such distributions but fails to make
such payments, pursuant to a Guarantee Agreement, dated October 6, 2005, between the Company and
Wilmington Trust, as Guarantee Trustee. The Debentures and Capital Securities may be redeemed at
the option of the Company on fixed quarterly dates beginning on December 15, 2010.
ITEM 9.01 Financial Statement and Exhibits.
| 10.1 |
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Amended and Restated Declaration of Trust for Texas Capital Statutory Trust I by and among
Wilmington Trust Company, as Institutional Trustee and Delaware Trustee, Texas Capital
Bancshares, Inc. as Sponsor, and the Administrators named therein, dated as of October 6, 2005 |
| 10.2 |
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Indenture between Texas Capital Bancshares, Inc., as Issuer, and Wilmington Trust Company, as
Trustee, for Fixed/Floating Rate Junior Subordinated Deferrable Interest Debentures dated as
of October 6, 2005 |
| 10.3 |
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Guarantee Agreement between Texas Capital Bancshares, Inc. and Wilmington Trust Company,
dated as of October 6, 2005 |