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.
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.”