SOUTH PLAINS FINANCIAL, INC. (SPFI): M&A transaction — SPFI closes BOH Holdings merger; issues ~2.8M shares; BOH had $744M assets

SOUTH PLAINS FINANCIAL, INC.

Deal closed April 1, 2026; each BOH share converted to 0.1925 SPFI shares; total ~2.8M SPFI shares issued.
BOH had $744M assets, $624M loans, $603M deposits as of Dec 31, 2025.
James D. Stein appointed to SPFI board and as City Bank Houston Market President; base salary $350K, bonus target 23.33%.
Raymond James & Associates advised SPFI; Hillworth Bank Partners advised BOH.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

SOUTH PLAINS FINANCIAL, INC. completed an acquisition involving BOH Holdings, Inc. for approximately 2.8 million shares of SPFI common stock (closed 2026-04-01).

Action: acquisition
Counterparty: BOH Holdings, Inc.
Consideration: approximately 2.8 million shares of SPFI common stock
Closing: 2026-04-01

Exact text from the filing

lieu of any fractional shares (collectively, the “Per Share Merger Consideration”). The total aggregate consideration delivered to holders of BOH common stock was approximately 2.8 million shares of SPFI common stock. The issuance of shares of SPFI common stock in connection with the Merger was registered under the Securities Act of 1933, as amended (the

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SOUTH PLAINS FINANCIAL, INC. filing history →

Source: SEC EDGAR

accession 0001140361-26-012794

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