secwatch.observer — SEC 8-K summary
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Issuer:     TEXAS CAPITAL BANCSHARES INC/TX (TCBI)
CIK:        0001077428
Form:       8-K
Filed at:   2022-09-08T23:59:59+00:00
Accession:  0001077428-22-000128
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Texas Capital Bancshares sells insurance premium finance business for ~$3.4B
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- Sale of BankDirect Capital Finance LLC and a $3.4B loan portfolio (based on June 30, 2022 NAV plus premium) to AFCO Credit Corporation.
- Purchase price subject to customary adjustments; expected closing by end of 2022 subject to regulatory approvals.
- Transaction structured as sale of equity interests and loans; seller will provide transition services.
- AFCO Credit Corporation is a subsidiary of Assurant, Inc. (private); the deal includes non-compete and confidentiality covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1077428/000107742822000128/0001077428-22-000128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1077428/000107742822000128/tcbi-20220905.htm
  HTML page:      https://secwatch.observer/filing/0001077428-22-000128

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