PlainsCapital officially withdraws IPO following its acquisition by Hilltop

PlainsCapital, a bank in Texas providing banking, mortgage and advisory services, officially withdrew its plans for an initial public offering on Thursday following being acquired by Hilltop Holdings. The company originally filed for an IPO in 2009, before ultimately postponing. The Dallas, TX-based company was founded in 1987 and booked $538 million in sales for the 12 months ended 12/31/2009. J.P. Morgan was set to be the sole bookrunner on the deal.