South Plains Financial Acquires Houston Bank

South Plains Financial, based in Lubbock, Texas, has announced a strategic acquisition of BOH Holdings and Bank of Houston for $105.1 million in stock. This move aims to expand South Plains presence in Houston, a rapidly growing metropolitan area. The combined entity will have two branches and $643 million in deposits, making it the eleventh largest Texas-headquartered bank in Houston. The deal, expected to close in Q1 2026, will bring long-standing customer relationships to City Bank and provide BOHs bankers with a broader range of products and access to low-cost deposits. Jim Stein, BOHs CEO, will join South Plains and lead his team in Houston, also taking a seat on the boards of City Bank and South Plains. Analysts view this as a low-risk, reasonably priced deal that could boost South Plains loan growth potential.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.