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South Plains Financial, Inc. reported higher results for the three and six months ended June 30, 2026 and expanded through an acquisition. Q2 2026 net income was $18,992 thousand, up from $14,605 thousand, with diluted EPS of $0.96 versus $0.86. For the first half of 2026, net income was $33,537 thousand compared with $26,899 thousand and diluted EPS $1.82 versus $1.58.
Total assets reached $5,391,206 thousand (dollars in thousands) and loans held for investment $3,771,434 thousand, while deposits were $4,640,626 thousand as of June 30, 2026. On April 1, 2026 the company completed the BOH Holdings, Inc. acquisition, issuing 2,803,535 shares for total consideration of $118,068 thousand and recording preliminary goodwill of $47,277 thousand. Regulatory capital remained strong, with a consolidated Common Equity Tier 1 ratio of 14.11% and Tier 1 leverage ratio of 12.21%, and both the company and City Bank were classified as “well capitalized.”
South Plains Financial director Richard D. Campbell reported indirect open-market sales totaling 160,000 shares of common stock on August 3–4, 2026, at weighted-average prices of $44.75 and $45.14 per share. Footnotes state the underlying trades ranged from $44.60–$45.57 per share and were aggregated for reporting. The sales were executed by Henry TAW LP, whose shares are subject to a voting agreement and irrevocable proxy giving Campbell voting authority. He also reports holdings of 10,384 shares directly and 40,000 shares indirectly through Racham Investment Group LLC. These transactions were not reported as being under a Rule 10b5-1 trading plan.
The issuer with symbol SPFI has a shareholder filing to potentially sell up to 160,000 shares of common stock through J.P. Morgan Securities LLC on the NASDAQ. The proposed sale has an aggregate market value of $7,276,800, with 19,145,754 shares of common stock outstanding.
The shares to be sold were originally acquired by James C. Henry in a private pre-IPO investment on June 27, 2011, when he acquired 1,690,000 shares from the issuer for cash. The filing notes no reported sales of these securities during the past three months.
South Plains Financial, Inc. director James D. Stein reported selling a total of 100,000 shares of Common Stock on July 28, 2026, in open-market transactions executed through a broker-dealer. The report aggregates 70,000 shares at a weighted average price of $44.36 per share, with individual trade prices ranging from $44.05 to $44.92, and 30,000 shares at a weighted average price of $44.97 per share, with prices ranging from $44.72 to $45.19. Prices are presented on a weighted-average basis, and Stein has undertaken to provide full information on the number of shares sold at each separate price upon request to regulators, the issuer, or its security holders.
South Plains Financial Inc. insider James Stein filed to sell up to 30,000 shares of common stock through broker Edward Jones on Nasdaq, with a proposed aggregate sale price of $1,335,000.00. The filing lists 19,145,754 shares outstanding of the same class as context.
Stein reports having acquired 378,872 common shares of South Plains Financial Inc. in a merger dated 04/01/2026. Over the prior three months, he reported sales totaling several tranches of common stock on Nasdaq with disclosed share counts and dollar amounts.
South Plains Financial, Inc. insider James Stein filed to potentially sell restricted or control shares under Rule 144. A brokerage account at Edward Jones is listed to sell up to 70,000 shares of common stock, with an aggregate market value of $3,115,000.00, based on an issuer share count of 19,145,754 shares. The shares are indicated for sale on Nasdaq on or after July 28, 2026.
The securities were acquired in connection with a merger dated April 1, 2026, involving 378,872 shares. Over the prior three months, the insider reported open-market sales of common stock: 10,000 shares for $403,777.98 on May 8, 2026, 4,936 shares for $197,733.76 on May 11, 2026, 13,504 shares for $540,268.89 on May 18, 2026, and 1,560 shares for $62,509.55 on May 19, 2026.
South Plains Financial reported net income of $19.0 million for the quarter ended June 30, 2026, with diluted EPS of $0.96. Net interest income rose to $50.3 million and net interest margin was 4.00%, reflecting higher earning assets while holding margin essentially stable.
Results were significantly influenced by the April 1, 2026 acquisition of Bank of Houston, which added about $667 million of interest-earning assets and helped lift loans held for investment to $3.77 billion and deposits to $4.64 billion. Noninterest income increased to $14.1 million on stronger mortgage banking and card revenues, while noninterest expense rose to $39.9 million, including $1.1 million of acquisition-related costs.
Asset quality remained solid, with nonperforming assets at 0.19% of total assets, an allowance for credit losses of 1.41% of loans, and annualized net charge-offs of 0.06%. Capital stayed strong, highlighted by a 10.47% tangible common equity to tangible assets ratio and book value per share of $33.43. The board declared a $0.18 quarterly cash dividend per share, a 6% increase, payable August 10, 2026 to shareholders of record on July 27, 2026.
South Plains Financial, Inc. Chairman and CEO Curtis C. Griffith reported a Form 4 showing a disposition to the issuer of 300,000 shares of common stock at $41.39 per share on June 18, 2026. After this transaction, he directly holds 157,119 shares of common stock. The filing also lists indirect holdings through multiple family trusts, including 435,000 shares held by the CCG Trust and stakes in several 2021 family trusts, as well as 45,360 shares owned by his spouse, some of which he disclaims beneficial ownership except to the extent of any pecuniary interest.
South Plains Financial, Inc. announced a planned leadership transition and governance changes. Chairman and CEO Curtis C. Griffith will retire as Chief Executive Officer effective December 31, 2026, remain Chairman, and continue as a director of the Company and City Bank.
The board appointed Cory T. Newsom, currently President and a long-time executive and director, to become Chief Executive Officer effective upon Griffith’s retirement. Griffith entered into a Retirement and Consultancy Agreement providing severance consistent with a termination without cause, a monthly consultancy fee, accelerated equity vesting, COBRA-related payments, and a $125,000 restricted stock unit grant vesting one year after January 1, 2027.
The Company and Griffith also plan a Stock Repurchase Agreement under which the Company will repurchase 300,000 shares of its common stock from Griffith in a private transaction on or before June 30, 2026 at a price equal to the prior-day closing market price. Separately, the Company terminated a Board Representation Agreement with Henry TAW LP after its ownership fell below 10%, while its designee Richard D. Campbell will continue to serve as Lead Independent Director and is expected to be nominated for re-election in 2029.
South Plains Financial, Inc. director Noe G. Valles reported receiving a grant of 623 shares of Common Stock on May 20, 2026 at a price of $0.00 per share, reflecting a stock award rather than a market purchase. After this compensation-related acquisition, he directly holds 487,757 shares of the company’s common stock.