South Plains Financial, Inc. and BOH Holdings, Inc. Secure All Approvals for Merger – What Investors Need to Know

Key Points

• All Regulatory and Shareholder Approvals Received: The merger between South Plains Financial, Inc. (NASDAQ: SPFI) and BOH Holdings, Inc. has received all necessary regulatory and shareholder approvals, including from the Federal Reserve, FDIC, and Texas Department of Banking. BOH shareholders approved the deal on March 20, 2026.
• Merger Completion Date: The transaction is expected to close on April 1, 2026, pending satisfaction or waiver of remaining customary closing conditions.
• Structure of the Merger:
  • BOH Holdings, Inc. will merge with and into South Plains Financial, Inc., with South Plains as the surviving corporation.
  • Bank of Houston (BOH’s subsidiary) will subsequently merge into City Bank (South Plains’ subsidiary), with City Bank as the surviving bank.
• Market Presence: City Bank is one of the largest independent banks in West Texas, with operations across Dallas, El Paso, Greater Houston, the Permian Basin, College Station, TX, and Ruidoso, NM. Bank of Houston is a community-oriented, full-service bank serving small and middle market companies and families in Houston.
• Investor Communications: South Plains Financial routinely posts important updates for investors on its website, including disclosures under Regulation FD.

Important Shareholder Information & Price Sensitivity

• Merger Completion Imminent: The completion of the merger can significantly affect share value, as it will expand South Plains Financial’s footprint and market share in Texas and potentially improve operational efficiencies.
• Potential Risks and Uncertainties: The press release contains forward-looking statements regarding the impact of the merger, cost savings, and operational integration. Risks include:
  • Integration challenges and possible delays in realizing synergies.
  • Higher than expected operating costs or business disruptions post-merger.
  • Impact of macroeconomic factors such as inflation, interest rates, and economic downturns.
  • Competitive pressures, regulatory changes, cyber risks, and potential litigation.
• Disclosure Obligations: Investors are encouraged to monitor the company’s website and SEC filings for further material updates, as South Plains may use its website for Regulation FD disclosures.

Full Details for Investors

South Plains Financial, Inc. (NASDAQ: SPFI), the parent of City Bank, and BOH Holdings, Inc., the parent of Bank of Houston, have jointly announced that all required regulatory and shareholder approvals for their proposed merger have been received. This includes non-objections from the Federal Reserve, FDIC, and Texas Department of Banking. BOH shareholders approved the merger on March 20, 2026.

The merger will see BOH Holdings, Inc. absorbed into South Plains, and Bank of Houston merged into City Bank. The closing is scheduled for April 1, 2026, subject to satisfaction or waiver of customary closing conditions.

City Bank, headquartered in Lubbock, Texas, is a major independent bank with a wide presence spanning Dallas, El Paso, Houston, Permian Basin, College Station, and Ruidoso, NM. The bank offers commercial and consumer financial services, including investment, trust, and mortgage solutions. Bank of Houston is a Houston-based, community-focused, full-service financial institution, serving a diverse clientele of small and middle market companies, business owners, executives, entrepreneurs, and families.

Investors should note that South Plains Financial intends to use its website (www.spfi.bank) for the disclosure of material non-public information, in compliance with Regulation FD. All major press releases, SEC filings, conference calls, presentations, and webcasts will be accessible through their website.

The company’s forward-looking statements reflect its current expectations but are subject to numerous risks and uncertainties. These include the impact of merger integration, cost savings realization, operational disruptions, macroeconomic factors (such as inflation, interest rates, and recession risks), competition, cyber security threats, climate change impacts, and regulatory changes. Actual results may differ materially from those anticipated.

South Plains’ most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as other filings with the SEC, provide a comprehensive overview of these risks. Investors are strongly advised to review these documents on the SEC’s website for further information.

Contact Information

Mikella Newsom, Chief Risk Officer and Secretary
Phone: (866) 771-3347
Email: [email protected]

Disclaimer

This article is for informational purposes only. It does not constitute investment advice, an offer, or solicitation to buy or sell securities. Forward-looking statements are subject to risks and uncertainties. Investors should conduct their own due diligence and consult with financial advisors before making investment decisions. The author and publisher assume no responsibility for any actions taken based on this article.

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