The federal bailout of banks now includes one with strong Lubbock ties.
Plains Capital Bank used to be headquartered in Lubbock and still has branches all over the Hub City. Now based in Dallas, Plains Capital has received $87,631,000 of federal assistance.
The U.S. Treasury bought preferred stock from Plains Capital and many other banks across the nation. More details of the deal between the U.S. Treasury and Plains Capital are scheduled to be released on Monday December 29th.
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