SWS Group, Inc., a diversified financial services holding company, provides a range of investment banking, commercial banking, and related financial services in the United States. It operates in four segments: Clearing, Retail, Institutional, and Banking. The Clearing segment offers clearing and execution services for other broker/dealers, including general securities broker/dealers and firms specializing in high-volume trading. This segment also provides tailored services, such as recordkeeping, trade reporting, accounting, general back-office support, securities and margin lending, reorganization assistance, and custody of securities. The Retail segment acts as a securities broker for retail investors in the purchase and sale of securities, options, commodities, and futures contracts that are traded on various exchanges or in the over-the-counter market. This segment also offers insurance and annuity products, managed accounts, and margin lending programs. The Institutional segment serves institutional customers in the areas of securities borrowing and lending, municipal finance, investment banking, and fixed income sales and equity trading. The Banking segment provides traditional banking products and services through 12 full-service banking centers, including 10 in Texas and 2 in New Mexico. This segment offers checking, savings, money market, and certificates of deposit products; business and consumer loans; Internet banking and online bill payment services; commercial, commercial real estate, and residential mortgage loans; and interim construction lending to builders. SWS Group, Inc. offers its services to individual, corporate, and institutional investors; broker/dealers; governmental entities; and financial intermediaries. The company was founded in 1972 and is headquartered in Dallas, Texas.