SPFI — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• risks relating to the acquisition of BOH Holdings, Inc. (“BOH”) and acquisitions generally including disruption to current plans and operations and our ability to recognize the expected benefits and synergies of completed acquisitions;

• On April 1, 2026, SPFI acquired BOH Holdings, Inc., a Texas corporation (“BOH”) in an all-stock transaction through the merger of BOH with and into SPFI, with SPFI surviving the merger (the “Merger”). Immediately after the Merger, Bank of Houston, a Texas state banking association and wholly-owned s…

• For further information regarding the acquisition of BOH, see Note 2 in the Notes to the Consolidated Financial Statements included in Item 1 of this Report.

• We had net income of $33.5 million, or $1.82 per diluted common share for the six months ended June 30, 2026, compared to net income of $26.9 million, or $1.58 per diluted common share for the six months ended June 30, 2025. Return on average equity (annualized) was 12.02% and return on average asse…

• Net interest income for the three months ended June 30, 2026 was $50.3 million, compared to $42.5 million for the three months ended June 30, 2025, an increase of $7.8 million, or 18.5%, and was comprised of an increase of $10.9 million in interest income, partially offset by an increase of $3.0 mil…

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• risks relating to the acquisition of BOH Holdings, Inc. (“BOH”) including, without limitation: the expected impact of the transaction and on the combined entities’ operations, financial condition, and financial results; the businesses of South Plains and BOH may not be combined successfully, or such…

• On April 1, 2026, SPFI acquired BOH Holdings, Inc., a Texas corporation (“BOH”), the bank holding company for Bank of Houston, in an all-stock transaction through the merger of BOH with and into SPFI, with SPFI surviving the merger (the “Merger”). Immediately after the Merger, Bank of Houston, a Tex…

• The total aggregate consideration delivered to holders of BOH common stock was approximately 2.8 million shares of SPFI common stock. The issuance of shares of SPFI common stock in connection with the Merger was registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant…

• Net interest income for the three months ended March 31, 2026 was $42.9 million, compared to $38.5 million for the three months ended March 31, 2025, an increase of $4.3 million, or 11.2%. The increase in net interest income was comprised of an increase of $2.7 million, or 4.5%, in interest income a…

• The $1.6 million decrease in interest expense for the three months ended March 31, 2026 was primarily related to a 33 basis point decrease in the rate paid on interest-bearing liabilities over the same period in 2025 and a reduction of $592 thousand in interest expense as a result of the redemption …