Everen Securities buys Dallas-based brokerage

Everen Capital Corp. will pay $75 million for Principal FinancialSecurities Inc. in a move to increase its brokerage business in theSouthwest, a spokesman said.

The all-cash purchase, expected to close early next month, givesChicago-based Everen a full-service brokerage firm with 55 branchesin 15 states concentrated in the Midwest, Southwest and West. Itsheadquarters are in Dallas.

"It deepens our penetration in key markets where we're alreadystrong, particularly in Texas," said Everen spokesman Edgar P.McDougal. "It moves us forward in our plan to become a nationalfirm."Buying Principal Financial Securities, a unit of the Des …