Southwest Securities of Dallas is expanding into southern New Mexico. The banking unit of the $5.3 billion-asset SWS Group Inc. said Monday that it recruited a team of experienced bankers to establish a branch in Ruidoso by late July, its first outside of Texas.
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The new hires include Greg Cory as president to lead the branch and Tom Rigsby as a senior vice president and loan officer.
Both had worked for State National Bank in Ruidoso (now part of Compass Bancshares Inc.), Mr. Cory as community president and Mr. Rigsby as an executive vice president.
Southwest has eight branches in Texas and two more under construction there.
