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 ...

Financial Data and Key Metrics Changes - The company reported net income of $14.6 million or $0.79 per diluted common share for Q4 2021, compared to $15.2 million or $0.82 per diluted common share in Q3 2021 and $15.9 million or $0.87 per diluted common share in Q4 2020 [17] - Total assets grew 8.4% year-over-year to $3.9 billion, with diluted earnings per share increasing 28% year-over-year to $3.17 per share [24] - The return on average assets expanded by 25 basis points to 1.56% for 2021 [24] Business Line Data and Key Metrics Changes - The loan portfolio grew 9.7% year-over-year in 2021, with loans held for investment at $2.44 billion at the end of Q4 2021, an increase of $8.5 million from Q3 2021 [13][29] - Mortgage loan originations were $314 million in Q4 2021, down from $374 million in Q3 2021, leading to a decline in mortgage banking revenue [36] - Non-interest income for Q4 2021 was $22.9 million, compared to $25.8 million in Q3 2021, primarily due to the decline in mortgage banking activities [38] Market Data and Key Metrics Changes - The company experienced strong organic loan growth in Texas markets, particularly in commercial land development, commercial retail, and direct energy loans [30] - The loan to deposit ratio was 73% at the end of Q4 2021, down from 76% in Q3 2021, indicating strong deposit growth [20] Company Strategy and Development Direction - The company aims to focus on organic growth and has a capital allocation strategy centered on maintaining and growing dividends while utilizing share repurchase programs [26] - The Board of Directors authorized a quarterly dividend of $0.11 per share, an increase of $0.02 from the previous quarter [27] - The company plans to add 20 new lenders to its team of 60 over the next two years to support growth [14][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving mid-to-high single-digit loan growth in 2022, despite anticipated headwinds from larger loans paying off [19][26] - The company believes it is well-positioned to benefit from rising interest rates, which could enhance net interest income [42][75] - Management emphasized the importance of maintaining credit discipline while pursuing growth [33] Other Important Information - The company reported a decrease in classified assets by $20.3 million in Q4 2021, reflecting improved credit quality [49] - The efficiency ratio improved to 66.1% in Q4 2021 from 66.5% in Q3 2021, despite a slowdown in mortgage banking activity [51] Q&A Session Summary Question: What is the long-term outlook for mortgage revenue? - Management clarified that while mortgage revenue is expected to decrease to 10% to 15% of total revenue, they anticipate it to be closer to 20% in 2022 due to strong demand [61][64] Question: How will the company approach share buybacks in 2022? - Management indicated that they will continue to evaluate the stock's valuation and remain active in buybacks as appropriate [66] Question: What is the expected increase in expenses for 2022? - Management expects a modest rise in core expenses, likely in the low-to-mid single-digit range, depending on mortgage volume [68] Question: Will there be notable headwinds from larger loans paying off in 2022? - Management acknowledged potential headwinds but expressed confidence in their ability to manage these challenges due to strong demand and a solid lending team [69] Question: How will the loan portfolio respond to a 25 basis point increase in the Fed fund rate? - Approximately 20% of the loan portfolio would reprice immediately, and the company is positioned to benefit from rising rates [74]

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 ...

1 South Plains Financial Earnings Presentation Third 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 ref ...

Financial Data and Key Metrics Changes - The company reported net income of $15.2 million or $0.82 per diluted common share for Q3 2021, compared to $13.7 million or $0.74 per diluted common share in Q2 2021 [16] - There was no provision for loan loss in Q3 2021, contrasting with a negative provision of $2 million in Q2 2021, reflecting confidence in credit quality and economic improvement [17] - Net interest income increased to $31.2 million in Q3 2021 from $29.6 million in Q2 2021, driven by an increase in average loans outstanding [38] Business Line Data and Key Metrics Changes - The loan portfolio grew by 5.5% in Q3 2021, reaching $2.43 billion, with organic net loan growth of $178 million [23] - Mortgage originations for Q3 2021 were $373 million, slightly down from $379 million in Q2 2021, with expectations of a decline in mortgage revenues over the coming years [30][32] - Non-interest income was $25.8 million in Q3 2021, compared to $22.3 million in Q2 2021, primarily due to seasonal increases in insurance activities [35] Market Data and Key Metrics Changes - The company noted strong economic growth in Texas markets, contributing to robust business opportunities and population gains [11] - The loan to deposit ratio at the end of Q3 2021 was 76%, with a goal to increase this ratio into the mid-high 80s over time [19] Company Strategy and Development Direction - The company aims to add 20 lenders over two years to enhance loan growth, with a focus on hiring experienced bankers who fit the company culture [12][28] - A thoughtful capital allocation strategy is in place, focusing on share buybacks and maintaining dividends, with aggressive buybacks noted during the quarter [15][21] - The company is evaluating potential M&A candidates, particularly banks with strong deposit franchises in rural markets [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the credit quality of the loan portfolio and the overall economic environment, with expectations for continued loan growth into 2022 [13][19] - The mortgage business is expected to decline to 10-15% of total revenues as the market normalizes, with net interest income growth anticipated to offset this decline [14][32] - Management remains optimistic about future growth, citing strong pipelines and the successful recruitment of new lenders [26][36] Other Important Information - The company’s tangible book value per share increased to $20.90 at the end of Q3 2021, up from $18.97 at the end of 2020 [57] - The efficiency ratio improved to 66.5% in Q3 2021 from 70.5% in Q2 2021, reflecting better net interest margins [51] - The audit committee selected BKD as the independent registered public accounting firm for the fiscal year ending December 31, 2022 [54] Q&A Session Summary Question: Timeline for remaining lender hires - Management indicated that while they hope to complete the hiring in the next couple of quarters, it may realistically take until the end of next year due to the focus on quality candidates [65][66] Question: Expense growth outlook - Management acknowledged upward pressure on personnel costs due to wage inflation but expects revenue increases to offset these costs [67][68] Question: Share repurchase average price - The average repurchase price for the 190,000 shares was approximately $23, with discussions ongoing about future buyback strategies [70][71] Question: Loan growth guidance - Management expressed optimism about achieving high single-digit loan growth in 2022 but remained cautious about predicting higher growth rates due to economic uncertainties [79][80] Question: Balance sheet positioning - The company has ample liquidity and capital to support loan growth and is exploring opportunities for acquisitions in West Texas markets [82][84] Question: Personnel costs and expense management - Management indicated that while they expect some upward pressure on personnel costs, they are also looking to manage other expenses to maintain a flat run rate [86][87]

1 South Plains Financial Investor Presentation August 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 reflect Sou ...

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 June 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 ______ (Exact name of registrant as specified in its charter) Texas 75-2453320 (State or other jurisdiction of incorporation or organization) (I.R.S. E ...