South Plains Financial Expands Houston Presence with BOH Holdings Acquisition
Houston, Monday, 1 December 2025.
South Plains Financial, Inc. moves to strengthen its Houston market presence through a $105.9 million acquisition of BOH Holdings, aiming for increased competitiveness and service offerings in Texas.
Strategic Expansion into Houston
On December 1, 2025, South Plains Financial, Inc. (NASDAQ: SPFI) announced its acquisition of BOH Holdings, Inc. The transaction, valued at approximately $105.9 million, is structured as an all-stock deal. This strategic expansion aims to bolster South Plains’ presence in the Houston metropolitan area, a region characterized by dynamic economic growth and a thriving financial services market [1].
Impact on Market Position
The acquisition of BOH Holdings is set to enhance South Plains’ competitive edge in Texas. As of September 30, 2025, BOH Holdings reported assets of $772 million, loans of $633 million, and deposits of $629 million. The integration of these assets will result in a combined entity with approximately $5.4 billion in assets, $3.8 billion in loans, and $4.6 billion in deposits, thereby solidifying South Plains’ status as a leading community bank in Texas [1].
Strategic Goals and Future Outlook
Curtis Griffith, Chairman and CEO of South Plains, emphasized that the acquisition aligns with the company’s strategy to accelerate earnings and expand reach through both organic growth and strategic mergers and acquisitions. The transaction is projected to be 11% accretive to SPFI’s earnings per share by 2027. Furthermore, the tangible book value per share earnback is estimated to be achieved in less than three years, reflecting the financial soundness of the deal [1].
Regulatory Approvals and Closing Timeline
The acquisition is anticipated to close in the second quarter of 2026, pending regulatory approvals and approval from BOH shareholders. South Plains intends to file a Registration Statement on Form S-4 with the U.S. Securities and Exchange Commission, which will include a proxy statement for BOH’s shareholders. This careful approach underscores the company’s commitment to transparency and regulatory compliance throughout the acquisition process [1].