South Plains Financial and BOH Holdings Merger Approved by Shareholders
South Plains Financial and BOH Holdings jointly announced that, on March 20, the shareholders of BOH approved the previously announced proposed merger of BOH with and into South Plains, with South Plains continuing as the surviving corporation, followed by the proposed merger of Bank of Houston with and into City Bank, with City Bank continuing as the surviving bank. The Company has also received the required regulatory approvals and non-objections from the board of governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Texas Department of Banking regarding the proposed merger. All required regulatory and shareholder approvals to complete the proposed merger have now been received and the proposed merger is expected to be completed on April 1, subject to the satisfaction or waiver of the remaining customary closing conditions.
