Hilltop Completes PlainsCapital Acquisition

Hilltop Holdings HTH, a Dallas-based holding company, today announced that it has completed its acquisition of Dallas-based PlainsCapital Corporation, the financial services holding company for PlainsCapital Bank, PrimeLending, and FirstSouthwest. PlainsCapital Corporation is now a wholly owned subsidiary of Hilltop. Based on Hilltop's closing market price of $14.29 as of November 30, 2012, the total value of the consideration for the acquisition was approximately $700 million. The deal was recently ranked by SNL Financial as one of the top 10 biggest bank and thrift deals since Jan. 1, 2010. “This transaction is a significant accomplishment for Hilltop and PlainsCapital,” said Gerald J. Ford, chairman of Hilltop. “This See full press release