Dallas-based Estrada Hinjosa & Company (EH), has been acquired by Harlingen-based Texas State Bankshares, the registered bank holding company for Texas Regional Bank (TRB).
Going forward, EH will operate under TRB Capital Markets LLC, a wholly-owned subsidiary of Texas Regional Bank, using the assumed name of “Estrada Hinojosa.” TRB said its acquisition of EH will add more than 50 people to the TRB team with offices in Dallas, Houston, San Antonio, Austin, Edinburg, Miami, Chicago, Denver, and New York City.
Terms of the deal were not disclosed.
Since its inception in 1992, Estrada Hinojosa has completed more than 2,600 municipal advisory transactions with a total par value exceeding $207 billion and more than 4,900 underwriting transactions with a total par value of over $486 billion.
Noe Hinojosa Jr. will serve as president of TRB Capital Markets and a member of the Texas Regional Bank board of directors.
“This partnership will enhance our capacity and competitive position in the state of Texas and beyond. It will help continue transforming the many clients and communities we serve,” Hinojosa said in a statement.
John Tippit IV, president of TRB Divisions, said the acquisition aligns with the company’s goals.
“The addition of the Estrada Hinojosa team provides a new business vertical in TRB Divisions that aligns with our strategic vision of becoming a full-service financial institution,” Tippit said in a statement. “We’re excited to provide the Estrada Hinojosa team with capital and resources to expand their already robust position as a boutique investment bank in public finance. Under Noe Hinojosa’s leadership, we will continue the legacy as a best-in-class municipal advisor while gaining market share in municipal underwriting.”
TRB Chairman and CEO Michael Scaief said the deal is part of a strategic plan.
“The acquisition of Estrada Hinojosa is a crucial component of our strategic plan in becoming a full-service financial institution,” Scaief said in a statement. “We’re excited to provide a full suite of services for our municipal partners from ‘the people you know.'”
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