Texas-based bank CEO steps down as $5.5B merger called off

Texas Capital Bank President and CEO Keith Cargill has stepped down from both roles, effective immediately, according to a May 26 news release.

The news comes the same day as parent company and Dallas-based Texas Capital Bancshares (Nasdaq: TCBI) and McKinney, Texas-based Independent Bank Group (Nasdaq: IBTX) called off their merger because of the economic conditions caused by the Covid-19 pandemic, according to an Independent Bank news release.

According to Federal Deposit Insurance Corp. data…