South Plains Financial and BOH Holdings agree to M&A

South Plains Financial, Inc., the parent company of City Bank, has announced a definitive agreement to acquire BOH Holdings, Inc., the parent company of Bank of Houston.

The all-stock deal is valued at approximately $105.9 million. Following the transaction, BOH will merge into South Plains Financial, which will remain the surviving entity. As of September 30, 2025, BOH reported roughly $772 million in assets, $633 million in loans, and $629 million in deposits.

Curtis Griffith, chairman and chief executive officer of South Plains said, “Over the past year, we have been executing a strategy designed to accelerate the earnings power of City Bank by adding experienced lenders across our markets to drive organic loan growth while also exploring accretive M&A to expand our reach. Our proposed acquisition of BOH is an important step in achieving our goal given the impressive franchise they have built in the fast-growing Houston market, which will add scale to our existing operations while also bringing long standing customer relationships to City Bank.”

Jim Stein, chairman,president and chief executive officer of BOH said, “Houston is a dynamic community banking market, and this partnership provides needed resources to help accelerate our combined growth which we believe will drive value for our shareholders that we could not have achieved on our own.”