---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-012794"
form_type: "8-K"
ticker: "SPFI"
cik: "0001163668"
company_name: "SOUTH PLAINS FINANCIAL, INC."
filed_at: "2026-04-01T23:59:59+00:00"
generated_at: "2026-05-15T07:56:40.642662+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SPFI closes BOH Holdings merger; issues ~2.8M shares; BOH had $744M assets

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-26-012794
- form_type: 8-K
- ticker: SPFI
- cik: 0001163668
- company_name: SOUTH PLAINS FINANCIAL, INC.
- filed_at: 2026-04-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163668/000114036126012794/0001140361-26-012794-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163668/000114036126012794/ef20069677_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-012794
- JSON: https://secwatch.observer/filing/0001140361-26-012794.json
- Plain text: https://secwatch.observer/filing/0001140361-26-012794.txt

## Source-grounded claims
- claim_id: e1143845a1ea1dcad9a35c772b6aa5a60afb985c
  claim: 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).
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163668/000114036126012794/0001140361-26-012794-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.