Dive Brief:
- Lubbock, Texas-based South Plains Financial will acquire Houston-based BOH Holdings in an all-stock transaction valued at $105.9 million, the companies said Monday.
- Acquiring BOH, the holding company for Bank of Houston, will give $4.4 billion-asset South Plains an additional $772 million in assets, $633 million in loans and $629 million in deposits, according to a news release.
- The proposed transaction is projected to close in the second quarter of 2026 and awaits approval from regulators and BOH shareholders.
Dive Insight:
South Plains, the holding company for City Bank, said the deal would bolster its position as a Texas community bank – growing its branch count to 26 – and particularly enhance its presence in Houston.
South Plains also has operations in the Dallas, El Paso, Permian Basin and College Station markets in Texas, and the Ruidoso, New Mexico, market. Bank of Houston, meanwhile, operates one branch in Houston and one in Dublin, roughly two hours southwest of Fort Worth.
The combined company would have about $5.4 billion in assets, $3.8 billion in loans and $4.6 billion in deposits, according to Monday’s release…