Haynes and Boone Client PlainsCapital Corp. to Acquire First Southwest Holdings Inc.

12/08/2008

PlainsCapital Corp. to Acquire First Southwest Holdings Inc.

A team of lawyers from Haynes and Boone assisted PlainsCapital Corp., the holding company for PlainsCapital Bank, in the corporation's definitive agreement on Nov. 7 to acquire First Southwest Holdings Inc., the holding company for Dallas-based financial advisory and investment bank First Southwest Co. The deal is expected to close later this month.

The stock for stock acquisition is expected to increase PlainsCapital's deposits by an estimated $370 million and increase its assets by an estimated $500 million to $700 million. First Southwest has $617 million in assets, equity capital in excess of $65 million and annual revenues of more than $100 million.

The acquisition also brings together PlainsCapital, Texas' second-largest privately held commercial bank, and First Southwest, the second-ranked public finance advisory firm in the United States, to create a full-service middle market bank for Texas and the Southwest.

The Haynes and Boone team of lawyers representing PlainsCapital was led by Dallas partner Greg Samuel. He was assisted by Dallas partners Susan A. Wetzel and Mike Boone and associates Ashley M. Shurtleff, Evan Hall and Ryan R. Cox, all of Dallas.

Excerpted from Texas Lawyer.

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