State of Texas

South Plains Financial agreed to pay $105.1 million in stock to acquire a seven-year-old Houston community bank in its first M&A foray since 2019.

Texas' SB 1281 introduces harsher penalties — up to life in prison — and targets check fraud as banks report rising financial crimes tied to stolen mail.

The merger, which provides for $6.75 million in payments to three Space City Credit Union executives, had drawn criticism. But Space City members approved it by an 82% to 18% margin.

The legislation would bar firms that receive government contracts from discriminating against firearms companies. Smaller banks have quietly dropped their opposition in hopes of gaining more municipal bond business.