TCBI - Truist Financial unit to acquire BankDirect Capital Finance from Texas Capital Bancshares

• Truist Financial ( NYSE: TFC ) unit Truist Insurance Holdings will acquire finance company BankDirect Capital Finance from Texas Capital Bancshares ( NASDAQ: TCBI ).
• The transaction, subject to satisfaction of customary closing conditions, is expected to close in Q4.
• The acquisition is set to add more than $3B in loans to Truist Insurance Holdings' premium finance business.
• BankDirect will operate as a division of Truist Insurance's existing U.S. premium finance operation, AFCO Credit.
• TFC shares were trading +0.56% pre-market.
• Source: Press Release

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