43.08
+1.48%
Close of 9 Nov 2026, in USD
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About South Plains Financial
From its filings with the US Securities and Exchange Commission
South Plains Financial is based in Lubbock, Texas and is incorporated in Texas. Its shares trade on Nasdaq under the ticker SPFI. The SEC classifies its business as state commercial banks. In the fiscal year to 31 December 2025, it reported net income of $58.5m. At that date it held total assets of $4.48bn and shareholders' equity of $493.8m.
West Texas State Bank, Odessa, Texas, with approximately $430 million in assets, in 2019 through the merger of West Texas State Bank with and into the Bank.
El Paso - We operate two bank branches with $229.4 million of deposits and one mortgage office in the El Paso MSA.
The Permian Basin - We operate six branches with $361.3 million of deposits in the Permian Basin region of Texas.
Ruidoso, New Mexico - We operate one branch with $200.5 million of deposits in the village of Ruidoso, New Mexico.
We believe our exposure to these dynamic and complementary markets provides us with economic diversification and the opportunity for expansion across Texas and New Mexico.
Interest rates on loans and deposits, as well as prices on fee-based services, are typically significant competitive factors within the banking and financial services industry.
Bank officers, including the Chairman of the Board and the Bank’s Chief Executive Officer.
Our investment policy is reviewed annually by the Bank’s Board. Overall investment goals are established by the Bank’s Board and the Bank’s Investment/Asset Liability Committee.
Quoted from its 10-K, filed 5 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 9 May 2019
- Employees
- 545
- Head office
- 5219 CITY BANK PARKWAY, LUBBOCK, TX, 79407-3544
- Incorporated in
- TX
- Classification
- State Commercial Banks
- Filer status
- Accelerated filer
Leadership
Pay as last reported
- Mr. Curtis GriffithChairman of the Board, Chief Executive Officer, since 1993$1.2m
- Mr. Cory NewsomPresident, Director, Chief Executive Officer and President of City Bank, since 2008$2.1m
- Mr. Steven CrockettChief Financial Officer, Treasurer$865,264
- Ms. Mikella NewsomChief Risk Officer, Secretary
- Mr. Brent BatesSenior Vice-President and Chief Credit Officer of City Bank$585,130
- Mr. Paul EhlersSenior Vice-President and Chief Operations Officer of City Bank$607,640
- Mr. Richard CampbellLead Independent Director$138,089
- Mr. Noe VallesIndependent Director$120,490
- Dr. Kyle WargoIndependent Director$126,584
- Ms. Ladana WashburnIndependent Director$120,711
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 29
- Environment
- 3
- Social
- 41
- Governance
- 43
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- South Plains Financial Inc has several strengths that contribute to its success in the market. First, the company benefits from a strong financial position, including healthy cash reserves and low debt levels. This provides stability and flexibility for future investments and expansion initiatives. Second, South Plains Financial Inc has an extensive branch network, allowing it to reach a wide customer base and provide convenient access to its services. Third, the company possesses a team of experienced and knowledgeable professionals who excel in delivering personalized financial solutions to clients, enhancing customer satisfaction and loyalty. Lastly, South Plains Financial Inc has a solid reputation and brand recognition, which further strengthens its competitive position.
Weaknesses
- Despite its strengths, South Plains Financial Inc faces certain weaknesses that pose challenges to its operations. One key weakness is the company's limited geographic presence, primarily focused on a specific region. This restricts potential market opportunities and exposes the business to the risks associated with regional economic fluctuations. Additionally, the company heavily relies on traditional banking channels and has not yet fully embraced digital transformation. This may result in a loss of market share to more technologically advanced competitors and hinder its ability to adapt to changing customer preferences.
Opportunities
- South Plains Financial Inc can explore several opportunities to drive growth and profitability. Firstly, the company can consider expanding its operations geographically, entering new markets to diversify its revenue streams and reduce dependence on a single region. Secondly, there is an opportunity for South Plains Financial Inc to invest in technological infrastructure and digital banking solutions, enhancing its competitiveness and attracting tech-savvy customers. Moreover, the company can leverage strategic partnerships and acquisitions to broaden its product offerings and penetrate new customer segments. Lastly, the current economic landscape presents opportunities for South Plains Financial Inc to provide tailored financial solutions to support small businesses and entrepreneurs in their growth aspirations.
Threats
- In addition to opportunities, South Plains Financial Inc faces certain threats that necessitate proactive risk management. One notable threat is intense competition within the financial services industry. The presence of both national and regional players creates pricing pressures and poses challenges in acquiring and retaining customers. Regulatory changes and compliance requirements also impose threats, as non-compliance can result in financial penalties and reputational damage. Furthermore, economic downturns and uncertainties may impact the overall demand for financial services, potentially affecting the profitability of South Plains Financial Inc. Lastly, technological advancements and disruptive fintech companies present a threat, as they may introduce innovative and convenient financial solutions that attract customers away from traditional banking institutions.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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