Hilltop Closes Acquisition Of Dallas-based SWS Group - Quick Facts

(RTTNews) - Hilltop Holdings Inc. (HTH), the parent company of PlainsCapital Corp., has completed its acquisition of Dallas-based SWS Group Inc. PlainsCapital, via. its operating subsidiaries PlainsCapital Bank and PrimeLending, provides banking and mortgage origination, respectively. SWS's banking unit, Southwest Securities, FSB, has been merged into PlainsCapital Bank, which would now be the fifth largest Texas-based bank by deposits1.

SWS's broker-dealer subsidiaries, Southwest Securities, Inc. and SWS Financial Services, Inc., became subsidiaries of Hilltop Securities Holdings LLC, a holding company directly under Hilltop and the successor of SWS in the merger. In connection with the merger, First Southwest Company and its related entities also became subsidiaries of Hilltop Securities Holdings LLC. Subsequent to the closing of this transaction, First Southwest and Southwest Securities will continue to operate as separate broker-dealers, under combined leadership, until such time as the necessary regulatory approvals are obtained and systems integrations are complete.

Under the terms of the merger agreement, SWS stockholders will receive per share consideration of 0.2496 shares of Hilltop common stock and $1.94 of cash, equating to $6.92 per share based on Hilltop's closing price on December 31, 2014. The merger consideration, including Hilltop's existing investment in SWS, is approximately $350 million2.

SWS Group Inc. (SWS)