South Plains Financial, Inc. (NASDAQ: SPFI), the parent company of City Bank, has successfully completed its merger with BOH Holdings, Inc. as of April 1, 2026. This strategic move is expected to enhance South Plains' market position and operational capabilities. The merger was finalized following the execution of an Agreement and Plan of Reorganization, which was initially announced on December 1, 2025. Under the terms of the agreement, each share of BOH common stock was converted into the right to receive 0.1925 shares of SPFI common stock, along with cash for any fractional shares. The total consideration delivered to BOH shareholders amounted to approximately 2.8 million shares of SPFI common stock. This merger not only consolidates the assets of both companies but also integrates Bank of Houston, a wholly-owned subsidiary of BOH, into City Bank, thereby expanding City Bank's footprint in Texas. The merger is anticipated to create significant synergies and enhance the overall financial strength of the combined entity. Financial advisors Raymond James & Associates, Inc. and Hunton Andrews Kurth LLP provided advisory services to South Plains, while Hillworth Bank Partners and Fenimore Kay Harrison LLP advised BOH. The completion of this merger marks a pivotal moment for South Plains Financial as it aims to leverage the combined resources and customer bases to drive future growth and profitability.

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