Business
Plains Acquisition Corporation Completes Wealth Management and Tax Practice Acquisitions
Plains Acquisition Corporation Completes Wealth Management and Tax Practice Acquisitions.
About this update from Plains Acquisition Corp.
[{"type":"text","content":"Plains Acquisition Corporation (PAC) and Plains State Bank (PSB), a wholly owned subsidiary of PAC, have completed the acquisition of Core + Financial Strategies, an independent wealth management firm based in Houston, Texas with approximately $317 million in client assets. The wealth management group will offer investment and wealth management services to their clients through Raymond James Financial Services, Inc., member FINRA/SIPC.Additionally, PAC is pleased to announce the completion of the acquisition of Core + Tax Strategies, a tax preparation business. The tax preparation business will be part of the wholly owned PAC subsidiary, Plains Financial Services Inc. and will continue to do business as Core + Tax Strategies.The synergies created by the addition of the wealth management and tax preparation businesses to our core lending and treasury management services are a powerful combination to drive value to our shareholders.We plan to quickly integrate these companies. The success of our integration effort will be driven by how effectively our employees work together to deliver value to our customers and results to our bottom line.About Plains State BankPlains State Bank (PSB) was established in 1957 in Plains, Texas. In 2008, Plains Acquisition Corporation (PAC) was founded and acquired Plains State Bank. Following the acquisition, the bank charter and headquarters were moved to Humble, Texas. Today, Plains State Bank is primarily focused on serving the banking needs of small businesses in the communities surrounding the Houston MSA and Yoakum County, with approximately $800 million in assets. Plains Acquisition Corporation is traded under the symbol PLQC on the OTC Pink Market.About Raymond James Financial ServicesRaymond James Financial Services, Inc. (RJFS), member FINRA/SIPC, is a financial services firm supporting independent financial advisors nationwide. Since 1974, RJFS provides a wide range of investment and wealth planning-related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both firms are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), one of the nation's premier diversified financial services companies with approximately 8,700 financial advisors throughout the United States, Canada and overseas. Total client assets are approxi...