South Plains Financial to acquire West Texas State Bank for $76m.

South Plains Financial, the parent company of City Bank, agreed to acquire West Texas State Bank, a full-service bank in Texas, for $76m. Curtis Griffith, Chairman and Chief Executive Officer of South Plains, commented, “We are pleased to announce the Company’s acquisition of WTSB, an exciting first step in our expansion into new West Texas communities and an important milestone since completing our IPO in May. WTSB shares a similar culture as South Plains with a longstanding commitment to their employees, customers and the communities that they serve, which creates a perfect union. Additionally, the merger will leverage our existing infrastructure which will provide scale benefits as we strive to deliver value for all of our stakeholders. We look forward to welcoming WTSB’s employees and customers to South Plains.”