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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
We had total assets of $4.48 billion, gross loans held for investment of $3.14 billion, total deposits of $3.87 billion, and total shareholders equity of $493.8 million as of December 31, 2025.
Our common stock is listed on the Nasdaq Global Select Market under the symbol SPFI.
Acquisition Activities On December 1, 2025, SPFI and BOH Holdings, Inc., a Texas corporation ( BOH ), entered into an Agreement and Plan of Reorganization, providing for the acquisition by SPFI of BOH through the merger of BOH with and into SPFI, with SPFI continuing as the surviving entity.
Immediately thereafter, Bank of Houston, a Texas state banking association and wholly-owned subsidiary of BOH ( Bank of Houston ), will merge with and into City Bank, with City Bank continuing as the surviving entity.
The proposed transaction is expected to close in the second quarter of 2026, subject to the satisfaction of customary closing conditions, including the receipt of all required regulatory approvals and the approval of BOH s shareholders.
Bryan/College Station - We operate one branch in the city of College Station, Texas, which has $56.1 million in deposits.
Ruidoso, New Mexico - We operate one branch with $200.5 million of deposits in the village of Ruidoso, New Mexico.
Human Capital Resources As of December 31, 2025, we had approximately 603 total employees, which included 545 full-time employees and 58 part-time employees.
At December 31, 2025, approximately 33% of our current staff had been with us for ten years or more.
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Business 5 Item 1A Risk Factors 24 Item 1B Unresolved Staff Comments 39 Item 1C Cybersecurity 40 Item 2.
We had total assets of $4.23 billion, gross loans held for investment of $3.06 billion, total deposits of $3.62 billion, and total shareholders equity of $438.9 million as of December 31, 2024.
Ruidoso, New Mexico - We operate two branches with $194.9 million of deposits in the village of Ruidoso, New Mexico.
Competition The banking and financial services industry is highly competitive, and we compete with a wide range of financial institutions within our markets, including local, regional and national commercial banks and credit unions.
Human Capital Resources As of December 31, 2024, we had approximately 600 total employees, which included 528 full-time employees and 72 part-time employees.
At December 31, 2024, approximately 31% of our current staff had been with us for ten years or more.
Our Board requires new loans over $5 million to relationships in excess of $20 million to be reported to the Board Credit Risk Committee.
As of December 31, 2024, the Bank had a legal lending limit of approximately $112.7 million.
As of that date, our 20 largest borrowing relationships ranged from approximately $26.3 million to $53.9 million (including unfunded commitments) and totaled approximately $695.9 million in total commitments (representing, in the aggregate, 19.4% of our total outstanding commitments).