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25 reviews

About Primelending

PlainsCapital isn't just a plain old bank. PlainsCapital Corporation is the holding company for PlainsCapital Bank, which has some 40 branches in and around the Texas cities of Austin, Dallas, Fort Worth, Lubbock, and San Antonio, as well as an offshore branch in the Cayman Islands. Most locations (except those in Lubbock) eschew marketing to the masses, – more... instead focusing on serving middle-market companies and high-net worth individuals as a way to differentiate itself from competitors. In addition to deposit and loan services, PlainsCapital offers private banking, wealth and investment management, trust services, correspondent banking, and equipment leasing.  Hilltop Holdings acquired PlainsCapital in 2012.

Following the transaction, which was valued at some $700 million in cash and stock, PlainsCapital became a subsidiary of Dallas-based insurance company Hilltop Holdings. The deal superceded PlainsCapital's plans to take itself public, which it had postponed due to market conditions. However, with Hilltop's backing, the company should be better equipped to meet its ambitious goal of doubling in size over the next three years. The company plans to continue to expand its banking footprint in major cities throughout Texas and extend its mortgage and financial advisory business in markets outside of the state. In order to achieve its goals, the company has also eyed possible strategic acquisitions.

PlainsCapital originates residential mortgages through its PrimeLending subsidiary, which has more than 200 offices nationwide. Another unit, Hester Capital Management, manages assets for wealthy individuals, families, endowments and foundations, retirement plans, and public entities. Investment bank First Southwest, acquired in late 2008, specializes in public finance advisory services; it has more than 20 offices in 10 states.

PlainsCapital has grown rapidly since it was founded in Lubbock by chairman and CEO Alan White in 1987. It began expanding geographically in the 1990s through acquisitions in the Dallas-Fort Worth metroplex. The bank later began opening branches in Austin and San Antonio in the 2000s.

PlainsCapital Corporation filed to go public in 2009, but postponed the offering due to market conditions. The company intended to use the proceeds to reduce debt and to redeem stock that was issued to the government as part of the US Treasury's capital purchase program.

Meanwhile, PlainsCapital continues to grow. Its deposit base increased by nearly 20% during 2010, which in turn provided the company with more funds to fuel lending and make additional investments in municipal and mortgage-backed securities. Revenue also grew by nearly 20% that year, but earnings remained steady (as they had throughout the economic downturn), as the company continued to invest in personnel, employee benefits, offices, and equipment. – less

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Mortgage Loan Processor (Current Employee), Dallas, TXOctober 24, 2014