South Plains Financial (SPFI) announced it has entered into a definitive merger agreement with BOH Holdings, whereby South Plains will acquire BOH in an all-stock transaction valued at approximately $105.9M. As a result of the proposed transaction, BOH will be merged with and into SPFI, with SPFI continuing as the surviving entity. As of September 30, 2025, BOH had approximately $772M in assets, $633M in loans, and $629M in deposits. The boards of directors of South Plains and BOH have unanimously approved the proposed transaction. The proposed transaction is expected to close in the second quarter of 2026, subject to the satisfaction of customary closing conditions, including the receipt of all required regulatory approvals and the approval of BOH’s shareholders.
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