South Plains Financial, Inc. (NASDAQ: SPFI) and BOH Holdings, Inc. have jointly announced that they have received all necessary regulatory approvals to proceed with their planned merger. This merger, which was initially announced on December 1, 2025, involves the acquisition of BOH by South Plains through a merger agreement. Following the merger, Bank of Houston, a subsidiary of BOH, will merge with City Bank, a subsidiary of South Plains, with City Bank continuing as the surviving entity. The approvals were granted by key regulatory bodies including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Texas Department of Banking. Additionally, BOH's shareholders voted in favor of the merger on March 20, 2026. The completion of the merger is anticipated on April 1, 2026, pending the satisfaction of customary closing conditions. This merger is expected to enhance the operational capabilities and market presence of both entities, providing a broader range of financial services to their customers in Texas and beyond. The press release detailing these developments has been filed as an exhibit to the Form 8-K submitted to the SEC.

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