Welcome to our dedicated page for South Plains Financial SEC filings (Ticker: SPFI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
South Plains Financial, Inc. (NASDAQ: SPFI) is a publicly traded bank holding company for City Bank, a Texas state‑chartered bank. As an SEC registrant, the company files a range of regulatory documents that provide detailed information on its banking operations, financial condition, capital structure, and corporate governance.
On this page, you can review South Plains Financial, Inc. SEC filings, including Current Reports on Form 8‑K that disclose material events. Recent 8‑K filings describe quarterly financial results, earnings release slide presentations, dividend declarations, the redemption of fixed‑to‑floating rate subordinated notes, and the adoption of amended and restated bylaws reflecting changes to the Texas Business Organizations Code. These filings supplement the company’s earnings press releases and investor presentations.
Investors typically look to South Plains’ periodic reports, such as its annual report on Form 10‑K and quarterly reports on Form 10‑Q, for information on net interest income, noninterest income, loan and deposit composition, asset quality, capital ratios, and risk management practices. The company also discusses non‑GAAP measures like tangible book value per share and tangible common equity to tangible assets in its earnings materials, with reconciliations included in its filings.
In addition, South Plains uses its SEC filings to document corporate and capital actions, such as the redemption of subordinated notes and amendments to bylaws, and to provide details on strategic initiatives, including the definitive merger agreement to acquire BOH Holdings, Inc., the parent company of Bank of Houston. These disclosures outline key terms, conditions and expectations associated with the proposed transaction.
Stock Titan enhances access to these documents by pairing real‑time updates from the SEC’s EDGAR system with AI‑powered summaries. The platform highlights the main points in lengthy filings, helping users quickly understand South Plains Financial, Inc.’s reported results, governance changes, capital decisions and other material information without reading every page.
South Plains Financial, Inc. reported first-quarter 2026 net income of $14.5 million, up from $12.3 million a year earlier, with diluted EPS of $0.85. Net interest income was $42.9 million and tax-equivalent net interest margin held strong at 4.04% as loan yields improved and deposit costs declined.
Loans held for investment were $3.10 billion, down modestly from year-end due to an expected payoff of a large multifamily loan and seasonal agricultural paydowns, while deposits grew to $4.03 billion, supported by organic retail, commercial, and public fund inflows. Asset quality strengthened, with nonperforming assets to total assets improving to 0.13% and annualized net charge-offs at 0.04%.
Capital remained robust: book value per share rose to $30.90 and tangible book value per share to $29.65, with a tangible common equity to tangible assets ratio of 10.48% and common equity tier 1 capital of 14.80%. The company also completed its merger with BOH Holdings, Inc. effective April 1, 2026, which management describes as approximately 11% EPS accretive with a tangible book value earnback under three years.
South Plains Financial, Inc., parent of City Bank, announced that its Board of Directors declared a quarterly cash dividend of $0.17 per share on its common stock. The dividend will be paid on May 11, 2026 to shareholders of record as of the close of business on April 27, 2026.
South Plains Financial, Inc. is asking shareholders to vote at its 2026 virtual annual meeting on director elections, auditor ratification, and executive compensation. The meeting will be held online on May 11, 2026 at 2:00 p.m. Central Time, with March 19, 2026 as the record date.
Shareholders will elect two Class I directors to terms ending in 2029, vote on ratifying Forvis Mazars, LLP as independent auditor for the year ending December 31, 2026, and cast an advisory Say on Pay vote on compensation for named executive officers. The company had 16,342,095 common shares outstanding on the record date, and emphasizes performance-based pay using profitability, efficiency ratio, and asset quality metrics.
South Plains Financial director James D. Stein acquired 372,872 shares of common stock through a share-for-share merger conversion. The acquisition, dated April 1, 2026, was reported at a price of $0.00 per share, reflecting equity issued under an Agreement and Plan of Reorganization with BOH Holdings.
Under that agreement, each share of BOH common stock converted into the right to receive 0.1925 shares of South Plains Financial stock, and BOH restricted stock awards also converted into the same per share merger consideration. Following this transaction, Stein directly holds 372,872 shares, indicating this filing records his full post-merger equity position rather than an open-market purchase.
South Plains Financial, Inc. director James D. Stein has filed an insider ownership report on SEC Form 3. The filing identifies Stein as a director of the company and shows no reported purchases, sales, exercises, gifts, or other insider transactions in this submission.
South Plains Financial, Inc. completed its acquisition of BOH Holdings, Inc., merging BOH into South Plains and Bank of Houston into City Bank, effective April 1, 2026. Each BOH share was converted into 0.1925 shares of South Plains common stock, with holders receiving approximately 2.8 million South Plains shares in total.
As of December 31, 2025, BOH reported total assets of $744 million, total loans of $624 million, and total deposits of $603 million. Following the merger, James D. Stein joined the South Plains and City Bank boards and signed a two-year employment agreement as Houston Market President – BOH with a base salary of $350,000 and performance-based bonus opportunity partly in cash and partly in fully vested RSUs.
South Plains Financial, Inc. received all required regulatory approvals and BOH Holdings, Inc. shareholder approval for their previously announced merger, clearing the way to close the transaction. The merger, including the subsequent combination of Bank of Houston into City Bank, is expected to be completed on April 1, 2026, subject to customary closing conditions.
SOUTH PLAINS FINANCIAL, INC. officer Mikella D. Newsom reported routine equity compensation and related tax withholding involving common stock. On March 16, 2026, an indirect acquisition of 358 shares was reported as a grant or award to her spouse, who is also an employee of the company. These shares include restricted stock units that can be settled only in an equal number of common shares and remain subject to vesting and forfeiture conditions.
On March 14, 2026, 184 shares of common stock held indirectly through her spouse were disposed of at $40.74 per share to cover tax obligations by delivering shares. Following these transactions, indirect holdings by her spouse were 24,799 shares, and direct holdings by Newsom were 49,285 shares of common stock.
South Plains Financial, Inc. is a Texas bank holding company for City Bank, one of the largest independent banks in West Texas. As of December 31, 2025, it reported total assets of $4.48 billion, gross loans held for investment of $3.14 billion, total deposits of $3.87 billion and shareholders’ equity of $493.8 million.
The company operates 24 full-service branches and 7 mortgage loan production offices across Lubbock/South Plains, Dallas-Fort Worth, El Paso, Greater Houston, Bryan/College Station, the Permian Basin and Ruidoso, New Mexico. On December 1, 2025, it agreed to acquire BOH Holdings, Inc., with Bank of Houston to merge into City Bank, with closing expected in the second quarter of 2026 subject to regulatory and BOH shareholder approvals.
Mortgage originations totaled $269.3 million in 2025, generating $10.7 million of noninterest income, and the company services $1.8 billion of sold mortgages. Trust assets under management were $435 million with $2.9 million in fee income, while investment services generated $1.7 million on $684.4 million of assets. The bank remained well-capitalized under Basel III and prompt corrective action standards and paid $2.0 million in FDIC insurance premiums in 2025.