Renaissance Capital logo

South Plains Financial Priced, Nasdaq: SPFI

West Texas commercial bank with 21 full-service locations.

Industry: Financials

First Day Return: +1.2%

Industry: Financials

We are a bank holding company headquartered in Lubbock, Texas, and our wholly-owned subsidiary, City Bank, is one of the largest independent banks in West Texas. We have additional banking operations in the Dallas-Fort Worth-Arlington and El Paso MSAs, as well as in the Greater Houston, College Station, and Ruidoso and Eastern New Mexico markets. Through City Bank, we provide a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in our market areas. Our principal business activities include commercial and retail banking, along with insurance, investment, trust and mortgage services. We had total assets of $2.7 billion, gross loans held for investment of $2.0 billion, total deposits of $2.3 billion, and total shareholders’ equity of $154.6 million as of December 31, 2018. We currently operate 21 full-service banking locations across six geographic markets resulting from five acquisitions, de novo branches, and the formation of a de novo bank in Ruidoso, New Mexico, which we later merged into the Bank. We also operate 13 loan production offices both in our banking markets and in certain key areas that primarily focus on mortgage loan production.
more less
IPO Data
IPO File Date 04/12/2019
Offer Price $17.50
Price Range $17.50 - $19.50
Offer Shares (mm) 3.4
Deal Size ($mm) $59
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 05/08/2019
Offer Price IPO Intelligence Only
Price Range IPO Intelligence Only
Offer Shares (mm) IPO Intelligence Only
Deal Size ($mm) $59
Lock-Up Date IPO Intelligence Only
Street Research IPO Intelligence Only
Underwriters
IPO Intelligence Only
Company Data
Headquarters Lubbock, TX, United States
Founded 1941
Employees at IPO 684
Website www.city.bank

South Plains Financial (SPFI) Performance