SOUTH PLAINS FINANCIAL, INC. 8-K

What Happened

• South Plains Financial, Inc. (SPFI) and BOH Holdings, Inc. (BOH) announced on March 23, 2026 that they have received all required regulatory approvals to complete their previously announced merger. Regulators granting approvals/non-objections include the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Texas Department of Banking. BOH shareholders approved the Reorganization Agreement on March 20, 2026. The Merger (BOH into SPFI) is expected to close on April 1, 2026, subject to customary closing conditions. After the holding-company merger, Bank of Houston (a BOH subsidiary) will merge into City Bank (SPFI’s banking subsidiary), with City Bank surviving.

Key Details

• Parties: South Plains Financial, Inc. (SPFI) and BOH Holdings, Inc. (BOH).
• Regulatory approvals received from: Federal Reserve, FDIC, and Texas Department of Banking; BOH shareholder vote: March 20, 2026.
• Expected closing date: April 1, 2026 (subject to customary closing conditions).
• Post-closing bank merger: Bank of Houston will merge into City Bank, with City Bank as the surviving bank.

Why It Matters

• For investors, the announcement confirms regulatory clearance and shareholder approval—major milestones that clear the path to closing and operational integration. The combination will consolidate the two organizations under SPFI and result in City Bank as the surviving banking entity. The filing notes the transaction remains subject to customary closing conditions and includes forward-looking statements about expected benefits and risks; actual results may differ. The press release announcing these developments is attached to the 8-K (Exhibit 99.1).