PlainsCapital Corp., holding company of PlainsCapital Bank, completed its acquisition of First Southwest Holdings Inc., the holding company of Dallas-based financial advisory and investment bank First Southwest Co., in a stock-for-stock merger last week. 

The deal combines Texas’ second-largest privately held commercial bank and the nation’s third-ranked public finance advisory firm with assets of $4 billion. The deal comes after PlainsCapital was awarded $87 million of federal funds under the Troubled Assets Recovery Program.

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