Dallas-based financial services firm SWS Group Inc., parent of Southwest Securities Inc., saw its net income climb 25% for the second quarter of its fiscal year, which ended Dec. 31. Officials said a large part of the growth come through the acquisition of brokerage firm M.L. Stern & Co.
Net revenue for the quarter was $100.2 million, up $27.4 million from the same period last year. The increase was led by growth in commissions and gains on principal transactions.