PlainsCapital Bank Opens Five Metroplex Locations in the Last Five Months
With $4 billion in assets, PlainsCapital expands its footprint in Dallas-Fort Worth.
PlainsCapital Bank has opened five new bank branches in the Dallas-Fort Worth area since September 2008. These openings are part of the bank’s Metroplex expansion plans originally announced in 2007.
In January, PlainsCapital Bank hosted grand opening celebrations at new locations on Camp Bowie Boulevard in Fort Worth and near the Dallas Cowboys stadium in Arlington. These branches follow the opening of PlainsCapital’s Cirque location at Victory Park in October 2008 and the bank’s One Victory Park location in November 2008. PlainsCapital also opened a new branch at First Southwest’s downtown Dallas headquarters in February. First Southwest is a subsidiary of PlainsCapital Bank’s parent company, PlainsCapital Corporation.
PlainsCapital Bank has more than $4 billion in assets and $495 million in capital. PlainsCapital Bank was founded in Lubbock, Texas, in 1988 and entered the Dallas market in 1999 when it opened its Turtle Creek bank branch. Primarily a commercial and private bank in Dallas, Fort Worth, Austin, San Antonio and Arlington, PlainsCapital’s Lubbock and Weatherford banks are additionally focused on retail banking.
In February 2007, PlainsCapital Bank embarked on plans to expand its presence in the Metroplex, and announced its intent to open bank branches at Victory Park and move its headquarters there. In April 2007, the bank announced that it had leased space for its Trinity Commons branch on Hulen Street which opened the following August. Then, in July 2007, PlainsCapital announced its plans to open locations on Camp Bowie in Fort Worth and near the Dallas Cowboys’ stadium in Arlington.
“As a boutique bank that caters to middle market companies and high net worth individuals, it’s not necessary for us to build banks on every street corner,” said Alan B. White, PlainsCapital Corporation Chairman and CEO. “So, having the opportunity to announce five openings at one time is big news for us.”
“These branches are coming online at a time when business owners and individuals are looking for strong and stable financial institutions,” said White. “They value the fact that we are based here in the Metroplex and that lending decisions are made locally.”
Fort Worth is one of PlainsCapital Bank’s fastest growing markets with $554 million in local assets and 100 employees. Fort Worth is led by PlainsCapital Bank Fort Worth Banking Group President Steve Hambrick.
“We’ve experienced incredible growth in the Fort Worth area, including Arlington and Weatherford,” Hambrick said. “Our bankers are our greatest strength and these new locations will allow them to be more accessible to our customers. These locations are the results of their efforts.”
The Camp Bowie location at 3707 Camp Bowie Blvd. opened for business in September 2008 and celebrated its grand opening on Jan. 29, 2009. Camp Bowie is led by PlainsCapital Bank President Lynn Montgomery. Jennifer Baggs and Jeff Smith serve as senior vice presidents. Montgomery’s expertise is commercial real estate lending and commercial banking. Her branch also serves high-end retail customers living in the nearby neighborhoods.
The Arlington branch is located at 701 Road to Six Flags St. East. It opened for business in November 2008 and held its grand opening on Jan. 22, 2009. Mark Warren serves as bank president. Ben Hanna and Brad Hays are executive vice presidents. PlainsCapital’s Arlington branch specializes in commercial banking and commercial real estate lending.
Dallas is also a fast-growing market for PlainsCapital. The Dallas market has an estimated $921 million in assets and is led by Brian Heflin, PlainsCapital’s North Texas region chairman, who is also responsible for the bank’s Fort Worth market.
PlainsCapital Bank’s Cirque and One Victory Park bank branches have been open for a few months, but work on PlainsCapital Corporation’s new offices at One Victory Park continues. PlainsCapital Corporation plans to move its headquarters from Turtle Creek to One Victory Park as soon as construction of the corporate office spaces is completed. PlainsCapital Bank has a retail bank presence in the lobby of the building located at 2323 Victory Ave., and commercial and private bankers occupy the third floor. PlainsCapital’s second Victory Park location is on the ground floor of the Cirque building at 2900 Olive St.
“Victory Park has a lot of potential for our commercial banking and our private banking business,” Heflin said. “We are uniquely positioned to serve the businesses, the professionals, and the high net worth individuals who are located at Victory.”
PlainsCapital is the only financial institution to announce a move to Victory Park. PlainsCapital joins law firm Haynes and Boone and accounting firm Ernst and Young in the One Victory Park office tower.
PlainsCapital Bank opened the fifth new location in the First Southwest offices at Republic Center on 325 North Saint Paul St. This branch serves First Southwest employees and their families. PlainsCapital Corporation and First Southwest merged in December 2008. The branch marks PlainsCapital’s 33rd bank location in Texas and 14th location in the Dallas-Fort Worth Metroplex.
About PlainsCapital Corporation
Dallas-based PlainsCapital Corporation is one of the largest independent financial institutions in the U.S. with 137 locations in 23 states and over 2,000 employees. The PlainsCapital Corporation family of companies includes: PlainsCapital Bank with $4 billion in assets; First Southwest, the third-ranked public finance advisory firm and investment bank in the U.S.; national mortgage company PrimeLending; and Hester Capital Management, an Austin-based asset management firm. Find more information at plainscapital.com.