Texas bank South Plains Financial files for a $50 million IPO

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South Plains Financial, a West Texas commercial bank with 21 full-service locations, filed on Friday with the SEC to raise up to $50 million in an initial public offering.

South Plains is a bank holding company headquartered in Lubbock, Texas, and its wholly-owned subsidiary, City Bank, is one of the largest independent banks in West Texas.

The company was founded in 1941 and booked $148 million in revenue for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol SPFI. South Plains Financial filed confidentially on January 17, 2019. Keefe Bruyette Woods and Sandler O'Neill are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Texas bank South Plains Financial files for a $50 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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