Texas Capital Agrees to $400 Million Health-Care Deal, Cuts Jobs

Texas Capital Bancshares Inc. agreed to buy a $400 million portfolio of exposure to health-care companies as it presses ahead with a strategic plan to expand offerings and boost efficiencies — which also resulted in some layoffs in the third quarter.

The healthcare deal is part of efforts to build a corporate banking health-care business and should close this month, the Dallas-based bank said Friday in a statement. The layoffs should help it curb costs by $30 million next year and will primarily affect middle- and back-office employees.

Texas Capital outlined a plan for growth in September 2021 aimed at ...