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South Plains Financial SPFI

US equityMarket cap rank #3407
$42.56 −$0.20 (-0.47%)
Pre-market · Oct 8, 8:20 am ET · After hours $42.56 0.00%
Open$42.42
Prev close$42.76
Day range$41.64 – $42.85
Volume88.2K
Market cap$801.79M
P/E (TTM)11.6
Dividend yield1.55%
Founded1941
CEOMr. Curtis C. Griffith
Employees603
HeadquartersLubbock, United States of America
Websitewww.spfi.bank

Revenue per employee

$201.6K$251.6K$301.6K$351.6KDec '18Dec '21Dec '25

603 employees as of 2025/FY (+0.5% YoY). Revenue per employee is total revenue divided by headcount — a rough productivity gauge, not a per-worker pay figure.

Management team

Cory T. Newsom Director and President; Chief Executive Officer and President of City Bank
Age 58 · Total comp. $2,273,599.00 · As of 16 Jun 2026

On June 17, 2026, the board of directors of the Company appointed Mr. Cory T. Newsom to serve as the Chief Executive Officer of the Company, effective December 31, 2026. Mr. Newsom was designated as the principal executive officer in November 2024, has served as the President of the Company since 2019 and has served on the board of directors of the Company since 2008. Mr. Newsom was instrumental in the Company's initial public offering in 2019, and he has led the Company through two strategic acquisitions since becoming a public company in addition to disciplined organic growth. Mr. Newsom has served in multiple roles since at the Company, including as Chief Operating Officer, Senior Vice President, and Executive Vice President. Mr. Newsom also served in numerous roles since beginning his banking career with the Bank in 1984, including as Chief Operating Officer of the Bank from 1993 to 2007 before being named as President and Chief Executive Officer of the Bank in 2008, positions he continues to hold. He has also served on the board of directors of the Bank since 2002. He currently serves on the board of directors of the Lubbock Children's Home Foundation, Texas Boys Ranch Foundation, and the University Medical Center Foundation and has previously served on the board of directors of the Independent Bankers Association of Texas and the Board of Managers of University Medical Center in Lubbock. Mr. Newsom earned a Bachelor of Business degree in management from Texas Tech University in 1989 and holds licenses as a managing general agent and general lines agent with the Texas Department of Insurance.

Curtis C. Griffith Chief Executive Officer; Chairman of the Board of the Company and City Bank
Age 73 · Total comp. $1,232,779.00 · As of 16 Jun 2026

Curtis C. Griffith - Chairman and Chief Executive Officer. Mr. Griffith has been with the Company since its inception and has worked with the Bank and its predecessor institutions since 1972. Mr. Griffith became our Chairman and Chief Executive Officer in 1993. In 1972, he was elected to the board of directors of First State Bank of Morton, Texas, a predecessor institution to the Bank, and continues to serve on the board of directors of the Bank. Mr. Griffith has also served as Chairman of the Bank since 1993. Mr. Griffith owns and operates several agriculture-related businesses. In addition, he is a member of the State Bar of Texas, National Cotton Council, Plains Cotton Growers, Texas Cotton Ginners Association and the Texas Independent Ginners Association. He has served on the boards of several civic and charitable organizations, including Lubbock Economic Development Alliance, University Medical Center, Texas Tech University Foundation, Lubbock Symphony Orchestra, and the Texas Tech Cotton Economics Advisory Committee. He currently serves as a director for the Agriculture Heritage Museum, the Texas Tech Research Park, Inc., and the Lubbock Cultural Arts Foundation. Mr. Griffith earned degrees in agricultural economics and law from Texas Tech University in 1973 and 1977, respectively. On June 17, 2026, the board of directors of the Company voted to accept the voluntary resignation of Mr. Griffith. Mr. Griffith's retirement as Chief Executive Officer will be effective as of December 31, 2026. Mr. Griffith will remain a director of the Company and its wholly-owned subsidiary, City Bank, and will continue to serve as Chairman of the Board.

Steven B. Crockett Treasurer; Chief Financial Officer of Company and City Bank; Senior Vice President of City Bank
Age 54 · Total comp. $945,903.00 · As of 5 Apr 2026

Steven B. Crockett. Mr. Crockett has served as Chief Financial Officer and Treasurer of the Company and as Chief Financial Officer of the Bank since 2015. He served as Senior Vice President and Controller of the Company from 2010 to 2014 and as Controller of the Bank from 2001 to 2014. Mr. Crockett began his career in public accounting in 1994, working for seven years with the Lubbock accounting firm Robinson Burdette Martin & Cowan, LLP, which previously functioned as a practicing office of PricewaterhouseCoopers, LLP. As Controller of the Company and the Bank, he was responsible for financial and regulatory reporting, coordinating financial statement audits, budgeting, capital forecasting, and financial projections. He currently serves on the Board of Trustees for Lubbock Christian University. Mr. Crockett earned a degree in accounting from Abilene Christian University and is a licensed Certified Public Accountant.

Paul A. Ehlers Senior Vice President and Chief Operations Officer of the Bank
Age 55 · Total comp. $628,795.00 · As of 5 Apr 2026

Paul A. Ehlers. Mr. Ehlers was named Chief Operations Officer of the Bank in 2008. He joined the Bank in 1991 and served as Vice President of Operations and Security Officer from 1997 to 2007. He currently serves on the Board of Trustees for the Lubbock Cooper Independent School District. Mr. Ehlers is a graduate of the Texas Tech School of Banking and the Bank Operations Institute. Mr. Ehlers earned a Bachelor of Science degree in agricultural economics from Texas Tech University in 1992.

Brent A. Bates Senior Vice President and Chief Credit Officer of the Bank
Age 51 · Total comp. $604,247.00 · As of 5 Apr 2026

Brent A. Bates. Mr. Bates joined the Bank as Senior Vice President and Chief Credit Officer in 2020. He previously served as Division Credit Officer for Simmons First National Corporation (Nasdaq: SFNC) from 2017 through 2019 after their acquisition of Southwest Bancorp, Inc (Nasdaq:OKSB), where Mr. Bates served as Executive Vice President and Chief Credit Officer from 2011 to 2017. Prior to OKSB, Mr. Bates served in various progressive credit management roles with Arvest Bank from 2003 to 2011. He began the first five years of his banking career in 1998 as a bank examiner with the Texas Department of Banking followed by the same role with the 10th District Federal Reserve Bank branch in Oklahoma City. In 2010, Mr. Bates graduated with honors from the Graduate School of Banking in Colorado. He earned his degree in business finance from the University of Oklahoma in 1998.

Richard D. Campbell Lead Independent Director
Age 68 · Total comp. $142,063.00 · As of 5 Apr 2026

Richard Danny Campbell. Mr. Campbell serves as the Lead Independent Director on the board of directors of the Company and has served on the board of directors of each of the Company and the Bank since 2011. He currently serves as Chief Executive Officer and Co-Manager of Henry TAW LP, Henry Resources LLC, and as a member of the board of directors and head of the investment team of The Henry Companies Control Trust, part of the Henry family office. He is the former President of Henry Resources LLC, an oil and gas company, Vice President and Chief Investment Officer to the Henry family and Vice President of Business Development for Henry Resources. Mr. Campbell joined Henry Resources in May 2007 after 26 years of oil and gas and banking experience. He served as Executive Vice President and as a member of the board of directors of Community National Bank in Midland, Texas, from 2002 until 2007. He brings energy lending oversight and energy advisor experience to the Company from his role as Executive Vice President at Chase Bank in the Permian Basin from 1998 to 2000. In addition to many community service organizations, he has served as a trustee of Wayland Baptist University and on the board of directors for each of the Permian Basin Petroleum Association, Midland Petroleum Club, and the Mabee Foundation. He obtained a degree in petroleum engineering from Louisiana State University in 1980. Mr. Campbell's extensive experience in the energy lending and banking industries qualify him to serve on our board of directors. Henry TAW's investment in 2011 provided for the appointment of one board member. Mr. Campbell was chosen as the appointed board member. All of the shares of the Company owned by Henry TAW LP are subject to a voting agreement and irrevocable proxy pursuant to which Mr. Campbell exercises voting authority.

Dr. Kyle R. Wargo Independent Director
Age 65 · Total comp. $132,063.00 · As of 5 Apr 2026

Kyle R. Wargo. Dr. Wargo has served on the board of directors of the Company since 2016 and on the board of directors of the Bank since 2013. He also served as an advisory director to the Bank from 2002 until 2013. Dr. Wargo has served as Executive Director of Region 17 Education Service Center since 1996 and has previously been a member of the Texas Tech University graduate faculty. Prior to these roles, he served as Superintendent of Levelland Independent School District from 1993 to 1996. He also served as Assistant to Superintendent at La Marque Independent School District from 1989 to 1993. Dr. Wargo is a member of the Texas Association of School Administrators and the American Association of School Administrators. Since 1996, he has served as a member of the board of directors of the Science Spectrum Museum in Lubbock, while serving as treasurer from 2008 until 2024. He also served as a member of the board of directors of Workforce Solutions South Plains. He earned Bachelor of Science degree from Baylor University in 1982, a Masters of Education from the University of Houston-Clear Lake in 1984, and a Doctorate in Education from the University of Houston in 1995.

LaDana R. Washburn Independent Director
Age 57 · Total comp. $127,103.00 · As of 5 Apr 2026

LaDana R. Washburn. Ms. Washburn joined the board of directors of the Company in 2023. She enjoyed a 26 year career with EY, serving as lead audit partner for public and private companies of varying sizes, primarily within the financial services industry, including both commercial and community banks. Ms. Washburn assisted numerous clients in mergers and acquisitions and capital raising initiatives, along with providing advice to support private companies in transitioning to a public company. Ms. Washburn spent four years within EY's Professional Practice Quality and Regulatory Matters national assurance practice. During that time, she provided oversight of inspections of public and private clients of varying sizes within banking and capital markets and other industries. She was also selected to coach and provide ongoing training to audit professionals in EY's Latin America Chile banking practice, focusing on risk and audit. Ms. Washburn earned both a Bachelor of Business degree in finance and a Master of Professional Accounting degree from the University of Texas at Arlington in 1991 and 1993, respectively. She is a Certified Public Accountant and a member of the AICPA. Ms. Washburn serves on the board of New Horizons of North Texas.

Noe G. Valles Independent Director
Age 59 · Total comp. $127,062.00 · As of 5 Apr 2026

Noe G. Valles. Mr. Valles joined the board of directors of the Company in 2019 and has served on the board of directors of the Bank since 2015. He is an attorney and has acted as the pre-litigation managing partner of Glasheen, Valles and Inderman, LLP since 2004. Mr. Valles is experienced in handling cases involving all types of injuries and has provided personal injury services in English and Spanish for 30 years. He is licensed to practice law in Texas and New Mexico state courts as well as the U.S. District Court for the Northern and Eastern Districts of Texas. Mr. Valles served on the Board of Managers of University Medical Center in Lubbock for 11 years. In 2018, he was awarded the Community Leader of the Year by the Lubbock League of Latin American Citizens. Mr. Valles earned a Bachelor of Arts degree from Wayland Baptist University in 1988 and was awarded the Distinguished Alumni Award from the University in 2018. He also earned a law degree from Texas Tech University in 1993.

Mikella D. Newsom Secretary; Chief Risk Officer of Company and City Bank; Senior Vice President of City Bank
Age 52 · As of 5 Apr 2026

Mikella D. Newsom. Ms. Newsom was named Chief Risk Officer of the Company in 2019 and has served as Secretary of the Company since 2013. She has worked more than 25 years with the Bank and its predecessors and has served as Chief Risk Officer of the Company and the Bank since 2015. Ms. Newsom currently serves on the board of the Texas Bankers Association and on the Board of Managers of University Medical Center in Lubbock. She previously served on the Board of Trustees for the Frenship Independent School District. Ms. Newsom earned a Bachelor of Science degree in agricultural economics from Texas Tech University in 1996.

James D. Stein Director
As of 31 Mar 2026

Effective as of April 1, 2026, pursuant to the terms of the reorganization agreement, as of the effective time of the Merger, the Board of Directors of SPFI appointed Mr. James D. Stein to the SPFI Board as a Class II director.

From SEC filings, via Futu. Compensation is total reported pay for the most recent fiscal year on file, not base salary alone.

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