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AMTB - IPO Update: South Plains Financial Readies U.S. IPO
Mercantil Bank Holding Corporation
Quick Take
South Plains Financial (SPFI) has filed to sell $62.5 million of common stock in an IPO of its common stock, per an amended registration statement.
The company operates a community bank network in Texas and southeastern New Mexico.
SPFI is a fast-growing bank focused on the enormous oil generating region of the Permian and nearby basins.
Company & Technology
Lubbock, Texas-based South Plains Financial was founded in 1941 and created City Bank, a Texas-based banking association with 19 branches in Texas and two in Ruidoso, New Mexico.