DALLAS -

After closing a “challenging year” with “strong fourth-quarter results,” Texas Capital Bank announced a pair of executive leadership appointments, effective immediately, creating roles for experienced professionals who each spent many years in posts at JPMorgan Chase & Co.

Now serving new president and chief executive officer Rob Holmes, who officially took on those roles this week, are Nancy McDonnell, who has been appointed to the newly created position of executive vice president and head of treasury services, along with Tim Storms, who will be in the newly created position of executive vice president and head of risk transformation.

The provider of financial liquidity to scores of buy-here, pay-here dealers made these executive moves after reporting its fourth-quarter performance, which included:

• Net income of $60.2 million ($1.14 per share) reported for the fourth quarter of 2020, an increase of $3.1 million on a linked quarter basis and a decrease of $4.2 million from the fourth quarter of 2019.

• Average mortgage finance loans held for investment (LHI) increased 5% on a linked quarter basis and 21% from the fourth quarter of 2019.

• Credit quality improved in the fourth quarter of 2020, reflecting declines in non-performing assets and criticized loans of $40.0 million and $157.1 million, respectively, on a linked quarter basis.

• Successfully deployed $1.8 billion of excess liquidity into higher yielding investment securities in the fourth quarter of 2020.

“While 2020 was certainly a challenging year, I am pleased with our strong fourth-quarter results,” Texas Capital Bank executive chairman Larry Helm said in a news release. “I want to thank our employees for their hard work and commitment to serving our clients during this unprecedented time. Though we are still navigating the pandemic, I am confident that Texas Capital Bank is well positioned for the future due to the actions we took in 2020.

“Looking ahead, Rob Holmes, our new CEO, officially joins us next week. Under his leadership, I have no doubt that Texas Capital Bank will continue to enhance its level of execution and recruit and develop the best talent, enabling us to drive long term shareholder value,” Helm continued.

And Holmes begins his tenure with two new experienced executives in the fold.

In her newly created role, the company said McDonnell will lead all aspects of Texas Capital Bank’s treasury and liquidity businesses. McDonnell brings three decades of senior leadership experience, having served as global head of commercial banking treasury & security services and other senior client roles at JPMorgan Chase & Co. until she retired last year.

Texas Capital noted that McDonnell brings a diverse and well-rounded skill set and subject matter expertise that will support the company in managing top client and prospect opportunities, training treasury management officers and bolstering an innovative, solutions-focused organization.

“This is an exciting time to be a part of Texas Capital Bank and join a team that is committed to providing important treasury and liquidity management services to a diverse and evolving client base,” McDonnell said in a news release. “Texas Capital Bank plays a critical role in providing innovative solutions as well as treasury management services to clients navigating this challenging period and beyond. The team will work with Rob and the rest of Texas Capital Bank’s leadership as we continue to advance the organization.”

Meanwhile, Texas Capital indicated Storms will provide strategic support to its risk management team, including chief risk officer John Turpen,

Storms also previously worked at JPMorgan Chase & Co. and its predecessor firms for nearly 38 years, serving as chief credit officer of commercial banking and most recently serving as chief risk officer of commercial banking’s real estate businesses, until he retired in 2019.

In his new role, Texas Capital noted that Storms will be focused on maintaining an effective control environment for all Texas Capital Bank risk while reinforcing strong practices and discipline across the organization.

“I am honored to join Texas Capital Bank at this pivotal time for the company,” Storms said. “I believe in the mission of Texas Capital Bank to support our clients, as well as the communities we serve. I look forward to working closely with chief risk officer John Turpen, the risk and compliance teams and the entire organization to further hone the company’s strategic approach to risk management. Together, I am confident that we can ensure best–in-class risk management across all our products and services in this increasingly complex environment while building a solid foundation for future growth and value creation.”

Commenting about Storms, Turpen said: “Over the last two years, our team has made substantial progress in upgrading Texas Capital Bank’s risk management system. Tim brings unmatched risk and compliance acumen and a commitment to talent development, and I look forward to working with Tim as we continue to execute on our journey to building a resilient and scalable business.”

Holmes added this perspective about McDonnell and Storms as well as the prospects for Texas Capital Bank going forward.

“I am pleased to welcome two strong executives, of impeccable character, each of whom brings decades of experience and records of demonstrated success across global platforms,” Holmes said. “I am confident that we will benefit from their expertise and leadership as we begin our deep dive into Texas Capital Bank’s operations and identify our most significant opportunities in this next chapter for the company.

“We are all energized and are ready to learn more about this organization and begin building a strategy that will achieve our long-term goal of returning the company to strong, predictable earnings growth and driving shareholder value while delivering an enhanced experience to our clients,” Holmes went on to say.