- CEO
- Milan Saunders
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- 19404 Kenswick Drive Humble TX United States of America 77338
- IPO Date
- Jul 18, 2022
- Business
- Plains Acquisition Corporation (PLQC) operates as a bank holding company for Plains State Bank, a Texas state-chartered bank that provides a full range of banking products and services to small and medium-sized businesses and individuals primarily in the Houston area and select other Texas markets; core offerings include checking, savings, business and money market accounts; consumer loans such as new and used auto, home improvement and other personal financing; commercial loans encompassing startups, business acquisitions, commercial real estate, building construction, expansion and modernization, leasehold improvements, inventory and equipment purchases, refinancing, debt consolidation, working capital and lines of credit; treasury management services; certificates of deposit; consumer credit cards; online and mobile banking; and wealth management and tax preparation services through Plains Financial Services Inc., Plains Wealth Management division partnered with Raymond James, and Plains Tax Strategies. The company maintains full-service branches in Humble, Houston, Plains, Sugar Land and Conroe, Texas, alongside a branch in West Texas and a loan production office in San Antonio. Founded in 1957 as Plains State Bank in Plains, Texas, the holding company was established in 2008 by Chairman and CEO Milan B. Saunders, who led an investor group to acquire the bank and relocate its charter and headquarters to Humble, Texas, where it trades on the OTC Pink market under PLQC. Recent developments include the declaration of a $1.00 per share cash dividend payable March 31, 2025, reflecting strong year-to-date earnings per share of $4.85 as of September 30, 2024, with consolidated assets of $883.3 million, loans of $643.3 million, deposits of $745.3 million and capital of $133.2 million; the bank continues to emphasize financing innovation, flexible services and technology to serve small business owners across Texas without reported major acquisitions, partnerships or strategic shifts in the past 1-2 years.