PlainsCapital postpones IPO

PlainsCapital, the 9th largest bank in Texas providing banking, mortgage and advisory services, postponed its IPO on Wednesday because of poor market conditions. The company was looking to raise about $225 million by selling 15 million shares, including 4.7 million from selling shareholders, at a price between $14 and $16. J.P. Morgan was the lead underwriter on the deal.