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Over the past few months, one of the hottest sectors has been the financials. And to capitalize on things, Wall Street is looking to the IPO market. So, this week Plains Capital Corp. filed to go public, planning to raise $140 million.
Founded in Lubbock, Tex., in 1987, Plains Capital has had a nice growth path. The company has bulked up its assets through acquisitions, as well as by adding new offerings (such as mortgage origination and even wealth management). In fact, the bank has been profitable for the past 21 years. Currently, Plains Capital has $4.4 billion in assets and $2.9 billion in deposits.
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