South Plains Financial, Inc. filings document the public-company record of a bank holding company for City Bank. Its Form 8-K disclosures cover operating results and financial condition, Regulation FD earnings materials, cash dividend declarations, material events, and the completed acquisition of BOH Holdings and Bank of Houston into South Plains and City Bank.
Proxy materials describe annual meeting voting matters, board and governance procedures, shareholder participation mechanics, and related corporate governance disclosures. Registration and transaction filings document common-stock issuance, capital-structure effects, risk factors, and material agreements associated with bank holding company transactions.
South Plains Financial insider Paul A. Ehlers reported two stock transactions involving the company’s common shares. On February 18, 2026, he acquired 2,283 shares as a grant or award at $0.00 per share, bringing his direct holdings to 87,519 shares.
On February 17, 2026, 884 shares were disposed of at $42.50 per share in a tax-withholding transaction related to equity compensation, after which he directly held 85,236 shares. Some reported holdings include restricted stock units subject to vesting and forfeiture conditions.
South Plains Financial, Inc. (SPFI) and BOH Holdings, Inc. (BOH) entered into an Agreement and Plan of Reorganization to merge BOH into SPFI. Under the agreement each share of BOH common stock will be converted into 0.1925 shares of SPFI common stock, subject to adjustment, plus cash in lieu of fractional shares.
The exchange ratio may be reduced if BOH’s actual adjusted shareholders’ equity is less than $70,500,000 as of the last day of the calendar month before closing. Based on the record date of February 12, 2026, BOH had 14,466,719 shares outstanding. SPFI expects to issue up to approximately 2,784,844 shares of SPFI common stock in the merger (about 14.59% of the combined company). BOH shareholders will vote on the merger at a special meeting on March 20, 2026.
South Plains Financial is registering approximately 2,784,844 shares of common stock for issuance in its stock-for-stock merger with BOH Holdings. Each BOH share will convert into 0.1925 SPFI shares, plus cash for fractional shares, subject to a potential downward adjustment if BOH’s adjusted shareholders’ equity falls below $70.5 million.
Based on SPFI share prices cited in the document, the exchange ratio implied aggregate consideration of about $105.9 million at $37.79 per share and $118.0 million at $42.39 per share, assuming no adjustment. The new SPFI shares would equal about 14.59% of the combined company. BOH shareholders will vote on March 20, 2026, with a two‑thirds approval requirement, and the parties expect tax‑free reorganization treatment under Section 368(a), while BOH holders also have statutory dissenters’ rights under Texas law.
South Plains Financial, Inc. filed a Form 13F reporting institutional holdings through its manager, listing 344 information-table entries with a combined market value of $168,128,881. The report names City Bank as an included manager and is signed by Steven B. Crockett, CFO and Treasurer.
South Plains Financial, Inc. insider activity: Chairman and CEO Curtis C. Griffith reported a bona fide gift of 4,000 shares of common stock on February 11, 2026, at a stated price of $0 per share. After this transfer, he directly holds 457,119 common shares, which include restricted stock units subject to vesting and forfeiture conditions.
Griffith also reports indirect holdings, including 45,360 shares owned by his spouse and 435,000 shares held by the Curtis C. Griffith 2021 Irrevocable Trust, for which his spouse serves as trustee and family members are beneficiaries. Additional indirect holdings are reported in several 2021 family trusts (RTW, BLW, WHW, SSG, and JBG Trusts), with reported positions of 64,000 or 87,000 shares each and Griffith serving as trustee. He disclaims beneficial ownership of certain indirect holdings except to the extent of any pecuniary interest.
South Plains Financial, Inc. (SPFI) is proposing an all‑stock acquisition of BOH Holdings, Inc., using newly issued SPFI shares registered on a Form S‑4. BOH will merge into SPFI, and Bank of Houston will merge into SPFI’s subsidiary City Bank, with City Bank as the surviving bank.
Each BOH common share will convert into 0.1925 shares of SPFI common stock, subject to potential downward adjustment if BOH’s adjusted shareholders’ equity falls below $70.5 million, plus cash instead of fractional SPFI shares. BOH warrants and stock appreciation rights will be cashed out if they are in‑the‑money, and BOH restricted stock will vest and convert into the same stock consideration.
Based on SPFI’s November 28, 2025 closing price of $37.79, the agreed exchange ratio implied about $105.9 million of SPFI stock for all BOH common shares, with the actual value at closing depending on SPFI’s trading price. The parties expect the merger to qualify as a tax‑free “reorganization” for BOH shareholders (except for cash in lieu of fractional shares).
South Plains Financial, Inc. reported solid fourth quarter and full-year 2025 results, highlighted by strong earnings growth and healthy asset quality. Fourth quarter net income was $15.3 million, or $0.90 diluted EPS, while full-year net income reached $58.5 million with diluted EPS of $3.44, a 17.8% increase over 2024. Net interest margin rose to 4.00% in the fourth quarter from 3.75% a year earlier as the average cost of deposits declined.
Loans held for investment grew to $3.14 billion and deposits to $3.87 billion at December 31, 2025. Full-year return on average assets was 1.33%, and the efficiency ratio was 62.32%, indicating solid profitability. Credit metrics remained favorable, with nonperforming assets at 0.26% of total assets and net charge-offs at 0.10% annualized in the fourth quarter. Tangible book value per share increased 14.4% to $29.05, supported by strong earnings and improved accumulated other comprehensive income.
The company also highlighted its December 2025 definitive merger agreement with BOH Holdings, Inc., which is expected to expand its presence and scale in the fast-growing Houston market, subject to customary approvals.
South Plains Financial, Inc. reported that it has released its financial results for the fourth quarter and full year ended December 31, 2025. The company issued a detailed press release and an accompanying earnings slide presentation, which are furnished as Exhibits 99.1 and 99.2.
Company officers are hosting a conference call on January 26, 2026 at 5:00 p.m. Eastern Time to discuss these results. The earnings presentation is also available on the company’s website under the “News & Events” section, giving investors additional insight into the quarterly and annual performance.
South Plains Financial, Inc. declared a quarterly cash dividend of $0.17 per share on its outstanding common stock. The board approved this dividend on January 22, 2026. The dividend is scheduled to be paid on February 17, 2026 to shareholders of record at the close of business on February 2, 2026. The company furnished a press release with these details as an exhibit to the report.