PlainsCapital Bank

PlainsCapital Bank, a subsidiary of Hilltop Holdings Inc., is one of the largest independent banks in Texas with approximately $11.8 billion in assets.[1] PlainsCapital operates more than 60 branches in Austin, Corpus Christi, Dallas, Fort Worth, Houston, Lubbock, San Antonio and the Rio Grande Valley.[2] The bank, which is led by CEO Jerry Schaffner, employs about 1,200 people.

PlainsCapital Bank
TypePublic
NYSE: HTH
IndustryBanking
Founded1988 in Lubbock, Texas, Texas, US
Headquarters
Dallas, Texas
,
United States
Key people
Jeremy B. Ford (Chairman), Jerry L. Schaffner (President and CEO), Brian L. Heflin (Chief Operating Officer)
Number of employees
1,200
Websitewww.plainscapital.com

HistoryEdit

The bank was founded as Plains National Bank by Alan B. White, former chairman and CEO,[3] in 1988 in Lubbock, Texas USA. In 1999, it expanded with a branch in Dallas, and acquired Dallas-based residential mortgage lender PrimeLending. The bank added branches in other major Texas markets throughout the 2000s. In 2003, the bank changed its name to PlainsCapital Bank.[4]

Today, PlainsCapital Bank operates as a subsidiary of Hilltop Holdings, with PrimeLending as its main subsidiary.

TimelineEdit

  • 1988 - PlainsCapital Corporation acquires Plains National Bank in Lubbock.[5]
  • 2003 - Plains National Bank undergoes name change to PlainsCapital Bank.[6]
  • 2012 - The bank merges with Hilltop Holdings Inc., a Dallas-based financial services holding company.[7]
  • 2013 - The bank acquires First National Bank of Edinburg with an FDIC-assisted transaction.[8]
  • 2015 - The bank’s parent company, Hilltop Holdings, enters into a merger agreement with SWS Group. SWS's banking subsidiary - Southwest Securities, FSB - becomes a part of the bank.[9][10]
  • 2016 - PlainsCapital Chairman Alan B. White is named Co-Chief Executive Officer of Hilltop Holdings with Jeremy B. Ford.[11]
  • 2018 - The bank’s parent company, Hilltop Holdings, acquires Houston-based The Bank of River Oaks.[12]

ServicesEdit

PlainsCapital Bank conducts commercial and consumer banking in the state of Texas. The bank is a member of the Federal Deposit Insurance Corporation (FDIC) and states it is an Equal Housing Lender. The bank offers:

  • Commercial lending and other commercial banking services
  • Treasury management
  • Small business banking
  • Private banking
  • Trust and wealth management services
  • Consumer banking

ReferencesEdit

  1. ^ "Top 100 Banks in Texas by Asset Size*" (PDF). dob.texas.gov/. 31 March 2020.
  2. ^ “About Us: Our Story,” Public website of PlainsCapital Bank
  3. ^ "Hilltop Holdings Inc. Announces Retirement of Co-CEO and Vice Chairman Alan B. White". Yahoo! Finance. 22 February 2019.
  4. ^ “About Us: Our Story,” Public website of PlainsCapital Bank
  5. ^ “About Us: Our Story,” Public website of PlainsCapital Bank
  6. ^ “About Us: Our Story,” Public website of PlainsCapital Bank
  7. ^ Stewart, Jackie (May 10, 2012). "Group Led by Gerald Ford to Buy PlainsCapital in Texas for $520 Million." American Banker. SourceMedia. ISSN 0002-7561. Retrieved January 3, 2017 – via HighBeam Research. (subscription required (help)).
  8. ^ "PlainsCapital takes over failed bank's assets to increase Texas footprint". Dallas Morning News. 16 September 2013.
  9. ^ Kezar, Korri (January 2, 2015). "Hilltop Holdings completes acquisition of SWS Group in merger valued at $350M." Dallas Business Journal. American City Business Journals. Retrieved January 3, 2017.
  10. ^ Cho, Hanah (April 2014). "Hilltop Holdings to acquire SWS Group in stock-and-cash deal." The Dallas Morning News. A. H. Belo. Retrieved January 3, 2017.
  11. ^ "Hilltop Holdings Appoints Jeremy Ford and Alan White as Co-CEOs." Manufacturing Close-Up. September 20, 2016. Retrieved January 3, 2017 – via HighBeam Research. (subscription required (help)).
  12. ^ "Hilltop Holdings Inc. Completes Acquisition of The Bank of River Oaks". MarketWatch. 1 August 2018.

External linksEdit