South Plains Financial, Inc. announces an Equity Buyback for $10 million worth of its shares.
February 26, 2024 at 05:01 pm EST
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South Plains Financial, Inc. (NasdaqGS:SPFI) announces a share repurchase program. Under the program, the company will repurchase up to $10 million worth of its shares of common stock. The program is valid till February 21, 2025, subject to the earlier termination or extension of the program by the Board or the $10 million designated for the program are depleted.
South Plains Financial, Inc. is the bank holding company for City Bank (the Bank). The Bank is an independent bank in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. The Bank provides a range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. The Banks principal business activities include commercial and retail banking, along with investment, trust, and mortgage services. The Bank is primarily involved in real estate, commercial, agricultural and consumer lending activities with customers throughout Texas and Eastern New Mexico. The Bank operates about 25 full-service banking locations across seven geographic markets. The Bank also operates about eight loan production offices both in its banking markets and in certain key areas in Texas that focus on mortgage loan origination.
SOUTH PLAINS FINANCIAL, INC. 
