Texas Capital Bank announced it has created a new line of business, BankDirect Capital Finance, to provide premium finance and other financial services to insurance agencies and their customers on a nationwide basis.
BankDirect Capital Finance was formed through the acquisition of Dallas-based Premium Finance Holdings and the hiring of a team of people from Baytree Finance Company. Additionally, Texas Capital Bank has purchased the premium finance loan portfolio and operations from Baytree to ensure service and relationship continuity for clients.
The group will be led by Chief Executive Officer Joseph Shockey, President Greg Boots and their teams, all of whom have extensive experience in agency services and premium finance lending, and have worked together for years.
During the past year, Texas Capital Bank has also successfully launched three other middle-market finance practices including lender finance, dealer finance and leasing.
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