Texas Regional Bank’s parent company set to acquire investment firm Estrada Hinojosa

Texas State Bankshares’ purchase of Estrada Hinojosa & Company is pending receipt of all required regulatory and shareholder approvals.

HARLINGEN, Texas – Texas State Bankshares, Inc., the registered bank holding company for Texas Regional Bank has entered into a definitive agreement to acquire Dallas-based investment banking group Estrada Hinojosa & Company, Inc.

The acquisition is pending receipt of all required regulatory and shareholder approvals. 

TRB is headquartered in Harlingen, Texas. Its acquisition of Estrada Hinojosa will add a team of 48 individuals and offices in Dallas, Houston, San Antonio, Austin, Edinburg, Miami, Chicago, and New York, to its 30 banking center locations in four regions across Texas.

Michael Scaief, chairman and CEO of TRB, said that with the announced transaction his bank will expand into capital markets in Texas and beyond. 

“This is an exciting and well-matched partnership that will expand our services to capital markets and further complement our commercial banking franchise,” Scaief said.

“With the addition of Estrada Hinojosa and the capital of TRB, we can offer a full suite of financial solutions to public entities of all sizes.”

Michael Scaief

Estrada Hinojosa was founded in 1992 as an investment banking group specializing in public finance. During that time it has risen to become a leader in providing municipal advisory and bond underwriting services.

Refinitiv, a third-party industry statistics company, recently ranked Estrada Hinojosa as the No. 1 municipal advisor in Texas for the first half of 2023. And it ranked the company No. 4 in the nation over the same period. 

Noe Hinojosa, Jr., is founder, chairman, president, and chief executive officer of Estrada Hinojosa. Hinojosa said the company is an industry leader, offering municipal advisory services, bond underwriting, and bond trading. Since its inception, Hinojosa said, the firm has completed over 2,500 municipal advisory transactions with a total par value exceeding $190 billion and over 4,600 underwriting transactions with a total par value of over $460 billion. 

Hinojosa said the acquisition by TRB will enhance the ability of the Estrada Hinojosa team to better serve hundreds of issuers both in Texas and nationally with the capital needs related to schools, colleges, universities, hospitals, roadways, drainage systems, airports, stadiums, convention centers, city and county buildings, marine and land ports, public works facilities, transit, and more.

“Entering into a definitive agreement with TRB provides Estrada Hinojosa with access to more capital and resources than ever before, allowing our talented team members to grow the business and take the organization to the next level,” Hinojosa said.

Noe Hinojosa, Jr.

“The combination of TRB capital and our team’s significant years of experience in public finance will enable us to gain market share in municipal advisory, underwriting, and trading in Texas and across the nation.” 

Hinojosa grew up in Matamoros and earned a Bachelor’s of Business Administration in computer information systems at Pan American University. He pointed out that like TRB, Estrada Hinojosa & Company has roots in the Rio Grande Valley. He said the two entities had similar beginnings and values.

“Estrada Hinojosa, whose founding partners have roots in the Texas Rio Grande Valley, has been committed to giving back to the local charities and reinvesting in our communities. TRB, whose headquarters is in the Texas Rio Grande Valley, has built the bank on the same core values. They have a core mission, to be ‘the people you know in the communities we serve’,” Hinojosa said.

Upon completion of the acquisition, Hinojosa will become president of the capital markets division of TRB. He will also become a member of the TRB executive committee, a shareholder of TRB, and a member of Texas Regional Bank’s board of directors. 

The transaction is expected to close in the fourth quarter of 2023, subject to the receipt of necessary regulatory and shareholder approvals.

About Texas Regional Bank

As of June 30, 2023, Texas Regional Bank had assets of approximately $2.6 billion with 30 banking centers across the Rio Grande Valley, Texas Hill Country, Houston, and DFW Metroplex. TRB is a full-service financial institution offering core banking, trust, wealth management, mortgage, international banking, insurance, foreign exchange, and economic development services. For more information about Texas Regional Bank, visit www.texasregionalbank.com

About Estrada Hinojosa & Company, Inc.

Estrada Hinojosa has been serving Texas since 1992. With expertise in municipal advisory and underwriting transactions, Estrada Hinojosa has established itself as a trusted partner for issuers seeking financing solutions for public infrastructure projects. Estrada Hinojosa is fully registered as a Broker/Dealer with the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). For more information about Estrada Hinojosa & Company, visit https://ehmuni.com

Editor’s Note: Click here to read an article on Noe Hinojosa, Jr., winning a Distinguished Alumni Award from UT-Rio Grande Valley.

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