South Plains Financial to acquire Bank of Houston for $106m.

South Plains Financial, a community bank, agreed to acquire Bank of Houston, a locally owned community bank, for $106m. “We are very excited to join with Curtis, Cory Newsom and the entire City Bank team. Houston is a dynamic community banking market, and this partnership provides needed resources to help accelerate our combined growth which we believe will drive value for our shareholders that we could not have achieved on our own. The strength of South Plains’ low cost, community deposits as well as their more expansive product portfolio is very attractive to us and should enable us to deepen our existing client relationships while also pursuing new relationships. I am also excited for our employees given the unique focus that City Bank places on their employees, the benefits they provide, and the great work environment that they have cultivated," Jim Stein, Bank of Houston Chairman, President and Chief Executive Officer.