By Business Wire, September 16, 2013, 08:50:00 AM EDT
Former Edinburg-based First National Bank locations now operated by
PlainsCapital Bank today announced the opening of 51 additional branches
across Texas. The branches are former Edinburg-based First National Bank
locations. For former First National Bank customers, banking will be
"business as usual" with all the normal banking services available to
"We want to welcome customers and employees of Edinburg-based First
National Bank to PlainsCapital Bank," said Alan B. White, chairman of
PlainsCapital Bank. "Customers will continue to be able to access their
accounts and manage their money at the same branch locations they are
accustomed to using."
PlainsCapital Bank assumed substantially all of the liabilities and
purchased substantially all of the assets of Edinburg-based First
National Bank on Friday night. Based on April 19, 2013 balances of First
National Bank, PlainsCapital Bank purchased at book value approximately
$2.6 billion of assets and assumed approximately $2.4 billion of
liabilities, including $1.7 billion of core deposits. The former First
National Bank branch locations will be rebranded PlainsCapital Bank.
PlainsCapital Bank, a wholly owned subsidiary of Hilltop Holdings Inc.
(NYSE:HTH), is a premier Texas banking franchise with deep Texas roots
and a 25-year history of strength and stability. PlainsCapital started
in Lubbock in 1988, and is now based in Dallas. Prior to completion of
this transaction, PlainsCapital Bank was the sixth largest bank
headquartered in Texas based on deposits. The Bank's footprint consisted
of 33 locations in West, Central and South Texas markets of Lubbock,
Fort Worth, Dallas, Austin and San Antonio. PlainsCapital is a strong
community supporter donating $2.3 million in 2012 to nonprofit
organizations in the Texas markets it serves.
As a result of this transaction, PlainsCapital Bank will now be in all
major Texas markets. The Bank gains entrance into the Rio Grande Valley,
Houston, Corpus Christi, Laredo and El Paso, among other markets.
White said the biggest immediate adjustment for customers might be
getting used to the PlainsCapital Bank logo with its buffalo symbol.
"Our buffalo symbolizes our strength, stability, pride and momentum,"
White said. "We're very proud of our buffalo."
First National Bank customers will receive a formal letter from
PlainsCapital Bank announcing the transition within the next week.
About PlainsCapital Bank
With its 25-year history of strength and stability, Dallas-based
PlainsCapital Bank operates 84 Texas branches and has more than 1,450
employees providing highly personalized relationship banking through a
single point of contact. Offering commercial lending, treasury
management, small business banking, private banking, and trust and
wealth management services, PlainsCapital Bank empowers responsive,
local decision making in each of its major markets: Austin, Corpus
Christi, Dallas, El Paso, Fort Worth, Houston, Laredo, Lubbock, the Rio
Grande Valley and San Antonio. PlainsCapital Bank is part of the
PlainsCapital Corporation family of companies. PlainsCapital Corporation
is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE:HTH). Find
more information at PlainsCapital.com.
About Hilltop Holdings Inc.
Hilltop Holdings is a Dallas-based financial holding company. Through
its wholly owned subsidiary, PlainsCapital Corporation, a regional
commercial banking franchise, it has three operating subsidiaries:
PlainsCapital Bank, PrimeLending, and First Southwest. National Lloyds
Corporation is also a wholly owned subsidiary of Hilltop Holdings
providing property and casualty insurance through two insurance
companies, National Lloyds Insurance Company and American Summit
Insurance Company. As of September 13, 2013, Hilltop employed
approximately 4,750 people and operated approximately 400 locations in
43 states and the District of Columbia. Hilltop's common stock is listed
on the New York Stock Exchange under the symbol "HTH." Find more
information at Hilltop-Holdings.com
Source: PlainsCapital Bank