EXHIBIT 21.1

List of Subsidiaries of Hilltop Holdings Inc.

	State or Other Jurisdiction
Name	of Incorporation or Formation
HTH Operating Partnership LP		Delaware
American Summit Insurance Company		Texas
ARC Insurance Holdings, Inc.		Delaware
Enspire Insurance Services, Inc.		Delaware
Enspire Premium Finance, Inc.		Texas
Excalibur Financial Corporation		Delaware
First National Group Community Development Corporation		Texas
First Southwest Holdings, LLC		Delaware
First Southwest Company		Delaware
First Southwest Capital Investments, Inc.		Delaware
First Southwest Leasing Company		Delaware
First Southwest Asset Management, Inc.		Delaware
FNB Fiduciary Nominee, Inc.		Texas
FSC Asset Administrator, LLC		Delaware
FSC 2005—A, LLC		Delaware
FSW Advisory Services, Inc.		Delaware
Hilltop Investments I LLC		Delaware
JE Murphy Company, Inc.		Arizona
JE Murhpy Company of Florida, Inc.		Florida
Legal Fee Note Issuer 2005-A, LLC		Delaware
NALICO General Agency, Inc.		Texas
NAGRUPCO, Ltd.		Texas
National Group Corporation		Delaware
National Lloyds Corporation		Delaware
National Lloyds Insurance Corporation		Texas
NLASCO National Lloyds, Inc.		Texas
NLASCO Underwriter Partner 1 LLC		Delaware
NLASCO Underwriter Partner 2 LLC		Delaware
NLASCO Underwriter Partnership		Delaware
NLASCO Services, Inc.		Texas
OpenRange Capital LLC		Delaware
PlainsCapital Corporation		Maryland
PlainsCapital Bank		Texas
PlainsCapital Securities, LLC		Texas
PlainsCapital Insurance Services, LLC		Texas
PlainsCapital Equity, LLC		Texas
PCB-ARC, Inc.		Texas
PCC Statutory Trust I		Connecticut
PCC Statutory Trust II		Connecticut
PCC Statutory Trust III		Connecticut
PCC Statutory Trust IV		Delaware
PrimeLending, a PlainsCapital Company		Texas
PrimeLending Ventures Management, LLC		Texas
PrimeLending Ventures, LLC		Delaware

	State or Other Jurisdiction
Name	of Incorporation or Formation
PUT 2005-A GP, LLC		Delaware
PUT 2005-A, LP		Delaware