(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-38895 South Plains Financial, Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Exact name of registrant as specified in its charter) Texas 75-2453320 (State or ...

South Plains Financial Second Quarter 2022 Earnings Presentation July 22, 2022 Safe Harbor Statement and Other Disclosures FORWARD-LOOKING STATEMENTS This presentation contains, and future oral and written statements of South Plains Financial, Inc. ("South Plains" or the "Company" or "SPFI") and City Bank ("City Bank" or the "Bank") may contain, statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward- ...

South Plains Financial, Inc. (NASDAQ:SPFI) Q2 2022 Earnings Conference Call July 22, 2022 11:00 AM ET Company Participants Steven Crockett - Chief Financial Officer and Treasurer Curtis Griffith - Chairman and Chief Executive Officer Cory Newsom - Director and President Conference Call Participants Brady Gailey - KBW Bradley Milsaps - Piper Sandler Operator Good morning, ladies and gentlemen, and welcome to the South Plains Financial, Inc. Second Quarter 2022 Earnings Conference Call. [Operator Instructions ...

Financial Performance - Net income for the three months ended March 31, 2022, was $14.3 million, or $0.78 per diluted common share, compared to $15.2 million, or $0.82 per diluted common share for the same period in 2021[145]. - Return on average equity decreased to 14.58% for Q1 2022 from 16.51% in Q1 2021, while return on average assets decreased to 1.47% from 1.66%[145]. - A decrease of $2.8 million in noninterest income was a primary factor for the $0.9 million decrease in net income compared to the previous year[145]. - Net interest income for Q1 2022 was $30.3 million, an increase of $0.4 million, or 1.4%, compared to $29.9 million in Q1 2021[153]. - Noninterest income for Q1 2022 was $23.7 million, a decrease of $2.8 million, or 10.6%, compared to $26.5 million in Q1 2021[160]. - Income from mortgage banking activities decreased by $5.2 million, or 27.5%, to $13.6 million in Q1 2022, primarily due to a 46.1% decrease in mortgage loan originations[160]. Loan Portfolio and Modifications - Total active loan modifications attributed to COVID-19 were approximately $6.0 million as of March 31, 2022, primarily in the hotel portfolio[141]. - The Bank assisted approximately 2,100 customers with a total of $218 million in the first round of the Paycheck Protection Program (PPP)[143]. - Approximately $217 million in PPP loans have been forgiven by the SBA, leaving approximately $1 million outstanding as of March 31, 2022[143]. - The Bank funded approximately 1,100 PPP loans for a total of $91 million in the second round of PPP, with about $64 million forgiven as of March 31, 2022[143]. - The Company continues to monitor its loan portfolio closely, particularly in the retail, hospitality, and energy sectors, due to the ongoing COVID-19 pandemic[140]. - The allowance for loan losses as a percentage of loans held for investment was 1.62% at March 31, 2022, down from 1.73% at December 31, 2021[157]. - The allowance for loan losses decreased to $39.6 million at March 31, 2022, down from $42.1 million at December 31, 2021, a reduction of $2.4 million, or 5.8%[189]. - Total average loans outstanding during the period increased to $2.48 billion as of March 31, 2022, compared to $2.42 billion as of March 31, 2021[191]. - Total nonaccrual loans were $9.5 million, representing 0.39% of total loans held for investment as of March 31, 2022, unchanged from December 31, 2021[198]. - Nonperforming loans increased to $12.1 million at March 31, 2022, compared to $10.6 million at December 31, 2021[199]. Asset and Deposit Growth - Total assets as of March 31, 2022, were $3.95 billion, compared to $3.71 billion as of March 31, 2021[154]. - Total assets increased by $97.9 million, or 2.5%, to $4.00 billion as of March 31, 2022, compared to $3.90 billion at December 31, 2021[163]. - Total deposits increased by $108.9 million, or 3.3%, to $3.45 billion as of March 31, 2022, compared to $3.34 billion at December 31, 2021[163]. - Noninterest-bearing demand accounts comprised 32.8% of total deposits as of March 31, 2022[214]. - Noninterest-bearing deposits rose to $1.13 billion, accounting for 32.8% of total deposits, compared to $1.07 billion or 32.1% previously[215]. - Total interest-bearing deposits amounted to $2.28 billion with a weighted average rate of 0.34%, down from 0.38% at the end of 2021[216]. Risk Management and Capital - The Company maintains a rigorous enterprise risk management system to enhance risk management effectiveness across the Bank[140]. - The Company has opted not to participate in the Community Bank Leverage Ratio framework and continues to follow Basel III capital requirements[243]. - As of March 31, 2022, South Plains Financial, Inc. reported total capital to risk-weighted assets at $535,998, representing a ratio of 18.22%, slightly down from 18.40% as of December 31, 2021[241]. - Tier 1 capital to risk-weighted assets for South Plains Financial, Inc. was $423,358, with a ratio of 14.39%, compared to 14.49% at the end of 2021[241]. - The estimated amount of uninsured deposits as of March 31, 2022, was $1.08 billion[217]. Equity and Shareholder Activity - Total stockholders' equity decreased to $387.1 million, a decline of 5.0% from $407.4 million at the end of 2021, primarily due to a $30.0 million decrease in accumulated other comprehensive income[237]. - The Company repurchased 106,498 shares of common stock for a total of $3.0 million during the three months ended March 31, 2022, compared to 43,184 shares for $786 thousand in the same period of 2021[244]. - Tangible common equity to tangible assets ratio was 9.11% as of March 31, 2022, compared to 9.85% at the end of 2021[261]. - Tangible book value per share decreased to $20.49 as of March 31, 2022, from $21.51 at December 31, 2021[261]. Interest Rate Sensitivity - The average estimated net interest income at risk for a 100 basis point shift in interest rates should not decline by more than 7.5% over the subsequent one-year period[250]. - The simulated change in net interest income for a +300 basis point increase in interest rates was 5.20% as of March 31, 2022, down from 6.89% at December 31, 2021[252]. Loan Composition and Concentration - The company has a collateral concentration, with 67.8% of loans secured by real property as of March 31, 2022, down from 69.4% at December 31, 2021[169]. - Direct energy sector loans totaled $121.6 million, representing 5.0% of total loans, with an allowance for loan losses of 1.26%[203]. - Restaurant and retail owner-occupied loans amounted to $141.6 million, or 5.8% of total loans, with an allowance for loan losses of 2.65%[204]. - Hospitality and assisted living center loans totaled $116.0 million, or 4.7% of total loans, with an allowance for loan losses of 6.94%[204].

1 South Plains Financial Earnings Presentation First Quarter, 2022 Safe Harbor Statement and Other Disclosures FORWARD-LOOKING STATEMENTS This presentation contains, and future oral and written statements of South Plains Financial, Inc. ("South Plains" or the "Company") and City Bank ("City Bank" or the "Bank") may contain, statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements ref ...

South Plains Financial, Inc. (NASDAQ:SPFI) Q1 2022 Earnings Conference Call April 26, 2022 5:00 PM ET Company Participants Steve Crockett – Chief Financial Officer and Treasurer Curtis Griffith – Chairman and Chief Executive Officer Cory Newsom – President Conference Call Participants Brady Gailey – KBW Brad Milsaps – Piper Sandler Operator Good afternoon, ladies and gentlemen, and welcome to the South Plains Financial, Inc. First Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to_______________ Commission File Number 001-38895 South Plains Financial, Inc. (Exact name of registrant as specified in its charter) Texas 75-2453 ...

1 South Plains Financial Earnings Presentation Fourth Quarter, 2021 Safe Harbor Statement and Other Disclosures FORWARD-LOOKING STATEMENTS This presentation contains, and future oral and written statements of South Plains Financial, Inc. ("South Plains" or the "Company") and City Bank ("City Bank" or the "Bank") may contain, statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements re ...

South Plains Financial, Inc. (NASDAQ:SPFI) Q4 2021 Earnings Conference Call January 27, 2022 5:00 PM ET Company Participants Steve Crockett - Chief Financial Officer and Treasurer Curtis Griffith - Chairman and Chief Executive Officer Cory Newsom - President Conference Call Participants Brady Gailey - KBW Brad Milsaps - Piper Sandler Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navig ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-38895 South Plains Financial, Inc. (Exact name of registrant as specified in its charter) Texas 75-2453320 (Sta ...