South Plains Financial, Inc. · NASDAQ:SPFI
South Plains Financial — Q3 2026 Earnings Presentation
25 slides from South Plains Financial's earnings presentation, Oct 22, 2026
Slide 1: South Plains Financial Investor Presentation
South Plains Financial Investor Presentation October 22, 2026
Slide 2: Safe Harbor Statement and Other Disclosures
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”, “SPFI”, or the “Company”) and City Bank (“City Bank” or the “Bank”) may contain, statements about future events t
Slide 3: Today's Speakers
Today’s Speakers ▪ Elected to the board of directors of First State Bank of Morton, Texas, in 1972 and employed by it in 1979 Curtis C. Griffith ▪ Elected Chairman of the First State Bank of Morton board Chairman & Chief Executive in 1984 Officer ▪ Chairman of the Board of City Bank and the Company
Slide 4: Third Quarter 2026 Highlights
Third Quarter 2026 Highlights Third Quarter 2026 Net Income Net Interest Margin (1) Loans Held for Investment Return on Average Assets $20.8 M (“NIM”) 4.00% (“HFI”) $3.83 B (“ROAA”) 1.53% EPS - Diluted Total Deposits Average Yield on Loans Efficiency Ratio $1.06 $4.66 B 6.75% 58.12% Net income for
Slide 5: Attractive Markets Poised for Organic Growth
Attractive Markets Poised for Organic Growth Largest MSA in Texas and fourth largest in the The Permian Basin is the largest oil producing nation region in the U.S., spanning West Texas and southeastern New Mexico Steadily expanding population that accounts for over 26% of the state’s populati
Slide 6: Loan Portfolio
Loan Portfolio Total Loans HFI 3Q’26 Highlights $ in Millions $3,831 Loans HFI increased by $59.7 million from $3,771 2Q’26, primarily resulting from organic loan growth broadly across markets during the quarter. $3,145 o The organic growth was net of one early $3,104 $3,054 loan payoff of $25.0 m
Slide 7: Major Metropolitan Market Loan Growth
Major Metropolitan Market Loan Growth Total Metropolitan Market Loans (1) 3Q’26 Highlights $ in Millions Loans HFI in our major metropolitan markets(1) increased $23 million in 3Q’26 as compared to $1,687 $1,710 2Q’26 Completed acquisition of Bank of Houston has provided important scale in Houst
Slide 8: Loan HFI Portfolio
Loan HFI Portfolio Loan Mix Loan Portfolio ($ in millions) Commercial C&D $ 217.1 Residential C&D $ 263.4 Other Commercial CRE Owner/Occ. $ 557.9 Consumer, C&D, 5% Other CRE Non Owner/Occ. $ 824.9 2% $ Residential Multi-Family 212.7 C&D, 8% C&I $ 547.9 Agriculture $ 164.5 Auto, 7% 1-4 Family $ 711.7
Slide 9: Non-Owner Occupied CRE Portfolio
Non-Owner Occupied CRE Portfolio NOO CRE(1) Sector Breakdown Details NOO CRE was 39.6% of loans HFI, an increase Residential Construction, Other C&D, 21% from 39.1% at June 30, 2026 10% Multi-family, 14% NOO CRE portfolio is made up of $1.04 billion of income producing loans, and $477.3 million
Slide 10: Indirect Auto Overview
Indirect Auto Overview Indirect Auto Credit Breakdown Indirect Auto Highlights 3.0% 2.1% Indirect auto loans increased to $253.9 million on September 30, 2026, compared to $246.7 4.8% million on June 30, 2026 Strong credit quality in the sector, positioned for resiliency across economic cycles(1
Slide 11: Noninterest Income Overview
Noninterest Income Overview Noninterest Income 3Q’26 Highlights $ in Millions Noninterest income was $13.8 million for 3Q’26, $15.0 compared to $14.1 million for 2Q’26. The $14.1 $13.8 decrease was primarily due to: $14.0 o A decrease of $568 thousand in bank card $13.0 services and interchange re
Slide 12: Mortgage Banking Revenue
Mortgage Banking Revenue 3Q’26 Highlights Mortgage banking revenues relatively flat during the quarter In 3Q’26, MSRs were written up by $1.6 million as compared to a write up of $515 thousand in 2Q’26 Originations of mortgage loans held for sale declined to $54.0 million from $78.8 million in
Slide 13: Diversified Revenue Stream
Diversified Revenue Stream Nine Months Ended September 30, 2026 Total Revenues Noninterest Income $183.9 million $39.2 million Investmen Trust, 6% t Services, 4% Service Charges on Deposits, 18% Other, 9% Net Nonintere Interest st Income, Income, Interchan 79% 21% ge Fees, 28% Mortgage, 35% 13 Sourc
Slide 14: Net Interest Income and Margin
Net Interest Income and Margin Net Interest Income & Margin (1) 3Q’26 Highlights $ in Millions Net interest income (“NII”) of $51.5 million, $51.5 $50.3 compared to $50.3 million in 2Q’26 $43.0 $43.0 Interest income was $76.4 million as $42.9 compared to $75.0 million in 2Q’26. The $1.4 million
Slide 15: Deposit Portfolio
Deposit Portfolio Total Deposits 3Q’26 Highlights $ in Millions Total deposits increased $20.1 million from $4,641 $4,661 2Q’26 $1,179 $1,152 Total deposits increased $779.5 million from $4,028 $3,881 $3,874 3Q’25, primarily due to $595.6 million in deposits acquired through the BOH $1,050 $1,03
Slide 16: Granular Deposit Base & Ample Liquidity
Granular Deposit Base & Ample Liquidity Total Deposit Base Total Borrowing Capacity Breakdown $2.5 Billion Comme Rural rcial: FHLB: Markets: 48% $1,644 73% Retail: FRB: 42% $808 Metro Markets: Public 27% Funds: Dollars in millions 10% Average deposit account size is approximately $43 City Bank h
Slide 17: Credit Quality
Credit Quality Nonperforming Ratios 3Q’26 Highlights 0.40% Provision for credit losses of $830 thousand 0.32% 0.31% 0.31% compared to $350 thousand for 2Q’26 0.26% 0.26% 0.25% 0.19% Classified loans of $77.0 million, compared 0.13% 0.16% to $80.3 million at June 30, 2026 Nonperforming loans in
Slide 18: Investment Securities
Investment Securities Securities & Cash 3Q’26 Highlights $ in Millions Investment securities totaled $518.3 million, a $37.1 million decrease from 2Q’26 $722 $787 $776 $635 $552 All securities are classified as available for sale $571 $567 $603 $555 $518 All municipal bonds are in Texas; fair
Slide 19: Noninterest Expense and Efficiency
Noninterest Expense and Efficiency Noninterest Expense $45.0 $ in Millions 150.0% 3Q’26 Highlights 130.0% Noninterest expense decreased to $38.1 $39.9 million from 2Q’26, largely attributable to: $40.0 $38.1 110.0% o A decrease of $1.1 million in acquisition-related expenses $35.5 90.0% $35.0 o A
Slide 20: Balance Sheet Growth and Development
Balance Sheet Growth and Development Balance Sheet Highlights Tangible Book Value Per Share (1) $ in Millions $5,411 $29.65 $29.60 $4,660 $4,479 $29.23 $29.05 $3,831 $3,881 $3,054 $28.14 $623 $478 Total Assets Total Loans Total Total 3Q25 4Q25 1Q26 2Q26 3Q26 HFI Deposits Stockholders' Equity 30-Sep-
Slide 21: Strong Capital Base
Strong Capital Base Tangible Common Equity to Tangible Assets Ratio(1) Common Equity Tier 1 Ratio 14.80% 10.61% 10.48% 10.48% 14.41% 14.45% 10.25% 10.32% 14.11% 14.20% 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 Tier 1 Capital to Average Assets Ratio Total Capital to Risk-Weighted Assets Ratio
Slide 22: SPFI's Core Purpose and Values Align
SPFI’s Core Purpose and Values Align Centered on Relationship-Based Business THE POWER OF RELATIONSHIPS At SPFI, we build lifelong, trusted relationships so you know you always have someone in your corner that understands you, cares about you, and stands ready to help. Our Core Purpose is: To use th
Slide 23: Appendix
South Plains Financial, Inc. Appendix
Slide 24: Merger with BOH Holdings, Inc. Completed
Merger with BOH Holdings, Inc. Completed Strengthens Position in Houston Market Building a Bank for the Future Enhances a top-tier community banking presence in Houston, one of the fastest-growing MSAs in the U.S. Situated in some of the highest growth markets in Creates a more balanced, diversi
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures For the three months ended September 30, March 31, December 31, September 30, June 30, 2026 2026 2026 2025 2025 Pre-tax, pre-provision income Net income $ 20,765 $ 18,992 $ 14,545 $ 15,254 $ 16,318 Income tax expense 5,602 5,286 3,816 3,832 4,342 Provision for credit loss
South Plains Financial — Q3 2026 Earnings Presentation on 6ix