Texas capital

Branch: Texas Capital and Provident Banks expand their presence

Texas Capital Bank and Provident Bank are both opening new offices in an effort to expand the scope of their business.

Texas Capital plans to move its office and banking center to Richardson, Texas, combining them into a new campus by the fourth quarter of 2023.

In a statement announcing the move, the bank said the new location would provide the $40 billion bank with the necessary capacity and upgrades for its technology and operations teams, supporting the growth of these departments while continuing to meet to the changing needs of its customers.

John Cummings, executive vice president and chief administrative officer of Texas Capital Bank, said building the technology and operations departments was “crucial to the execution of our strategy as we remain committed to building the most comprehensive financial services company headquartered in Texas.”

Texas Capital signed a 15-year lease with health insurer Blue Cross and Blue Shield of Texas to take up four floors of its office building on East Lookout Drive in Richardson. The bank said the relocation would support its settlement strategy “a presence in key markets”.

Elsewhere, New York-based Provident Bank opened a new branch in Roslyn, New York. The bank’s $13.6 billion latest location was designed to expand its services to a wider market and support local businesses and residents, it said in a statement.

Among other services, the branch offers business loans to Long Island-based businesses. Joseph Lomoriello, senior vice president and regional director of commercial lending in the metropolitan area, said: “Our ability to combine the personalized service and local decision-making of a community bank with the resources and capabilities of a regional bank has a clear advantage.”