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Warehouse Lender Being Acquired

An offer has been made to acquire the parent company of a mortgage warehouse lender operating from Texas.

Southwest Securities, FSB, provides mortgage warehouse lines of credit ranging from $2 million to $20 million for mortgage bankers.

The Dallas-based financial institution says that it provides its warehouse lending clients with same-day shipping and same-day funding.

The company’s parent, SWS Group Inc., received an offer on Feb. 12 to sell all of its common shares for $8 each, a news release said.

According to Esposito Global, the company behind the bid, the offer is a 32 percent premium over the closing price on Jan. 9 — a day before a competing bid was disclosed by Hilltop Holdings Inc. — which has been on the acquisition trail.

In 2012, Hilltop acquired PlainsCapital Corp., while it acquired First National Bank in Edinburg, Texas, in September 2013 through subsidiary PlainsCapital Bank.

Esposito Global’s offered price is 14.3 percent more than Hilltop’s current offer.

Esposito Global says it is a rapidly growing, fast-paced, technology-driven firm that is in the middle of expanding “in virtually every segment of the company to accommodate the rapid organic growth of its client base and acquisition strategy.”

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