South Plains Financial Inc
spfi.bankWhat Do They Do?
Provides commercial and retail banking, mortgage, and trust services to small and medium-sized businesses and individuals in Texas and New Mexico.
10-K for FY2025, filed Mar 5, 2026We have additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and…View ↗
How Do They Make Money?
Most revenue comes from interest earned on loans and securities, while the bank pays interest on deposits and borrowings. Customers also pay for account, card, investment, and trust services, with transaction fees charged when used and account or management fees charged monthly or quarterly.
10-K for FY2025, filed Mar 5, 2026Net interest income is the principal source of the Company’s net income and represents the difference between interest income (interest and…View ↗
Revenue Recognition – The majority of the Company’s revenues come from interest income and other sources, including loans, securities and…View ↗
The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based…View ↗
The Company earns bank card service and interchange fees from debit and credit cardholder transactions conducted through card payment…View ↗
The Company earns investment commissions and fiduciary trust fees from its contracts with trust customers to manage assets for investment…View ↗
$252M
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10-K for FY2025, filed Mar 5, 2026
$252M ↗
Who Are Their Customers?
Serves small and medium-sized businesses and individuals through City Bank's branches and online and mobile banking, with mortgage lending through branches and mortgage offices.
10-K for FY2025, filed Mar 5, 2026We have additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and…View ↗
We currently operate 24 full-service banking locations across seven geographic markets resulting from six acquisitions, de novo branch…View ↗
Deposits represent the Company’s primary and most vital source of funds. We offer a variety of deposit products including demand deposits…View ↗
Our mortgage originations totaled $269.3 million for the year ended December 31, 2025 and we sold the servicing on approximately 57% of…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 23 cents of every revenue dollar as net income in FY2025 and turned 29 cents into free cash flow.
How Are They Changing?
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Jun 17, 2026
Curtis Griffith plans to retire as CEO; Cory Newsom is appointed to succeed him
Griffith will remain chairman after retiring as CEO on December 31, 2026.
Sources
8-K, filed Jun 17, 2026
On June 17, 2026, Mr. Curtis C. Griffith, Chairman of the Board and Chief Executive Officer of South Plains Financial, Inc. (the…View ↗
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Apr 1, 2026
South Plains completed its merger with BOH Holdings and Bank of Houston
BOH merged into South Plains, followed by Bank of Houston merging into City Bank.
Sources
8-K, filed Apr 1, 2026
As previously announced, on December 1, 2025, South Plains Financial, Inc., a Texas corporation (“SPFI”), and BOH Holdings, Inc., a Texas…View ↗
Growing. Revenue grew 87% in 4 years, from $135M in FY2021 to $252M in FY2025, about 17% a year.
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