South Plains Financial, Inc. · NASDAQ:SPFI
South Plains Financial — Q2 2026 Earnings Presentation
25 slides from South Plains Financial's earnings presentation, Jul 17, 2026
Slide 1: South Plains Financial Second Quarter 2026 Earnings Presentation
South Plains Financial Second Quarter 2026 Earnings Presentation July 17, 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: Second Quarter 2026 Highlights
Second Quarter 2026 Highlights Second Quarter 2026 Net Income Net Interest Margin (1) Loans Held for Investment Return on Average Assets $19.0 M (“NIM”) 4.00% (“HFI”) $3.77 B (“ROAA”) 1.44% EPS - Diluted Total Deposits Average Yield on Loans Efficiency Ratio $0.96 $4.64 B 6.81% 61.59% Net income f
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 2Q’26 Highlights $ in Millions $3,771 Loans HFI increased by $667.3 million from 1Q’26, primarily resulting from: $3,145 $3,099 $3,104 $3,054 o $631.9 million in loans from the Bank of Houston acquisition o $35.4 million of organic loan growth 6.99% 6.92% 6.79% 6.83%
Slide 7: Major Metropolitan Market Loan Growth
Major Metropolitan Market Loan Growth Total Metropolitan Market Loans (1) 2Q’26 Highlights $ in Millions Loans HFI in our major metropolitan markets(1) increased $682 million in 2Q’26 as compared to $1,687 1Q’26 largely due to: o $632 million in loans from the Bank of Houston acquisition o $50 mil
Slide 8: Loan HFI Portfolio
Loan HFI Portfolio Loan Mix Loan Portfolio ($ in millions) Commercial C&D $ 201.3 Residential C&D 282.6 Commercial CRE Owner/Occ. 538.9 Other C&D, 5% Other CRE Non Owner/Occ. 761.4 Consumer, 2% Residential Multi-Family 229.8 C&D, 7% C&I 563.3 Agriculture 154.6 Auto, 7% 1-4 Family 714.0 Auto 263.8 Ot
Slide 9: Non-Owner Occupied CRE Portfolio
Non-Owner Occupied CRE Portfolio NOO CRE(1) Sector Breakdown Details NOO CRE was 39.1% of loans HFI, an increase Other C&D, 23% from 37.3% at March 31, 2026 Residential Construction, 10% Multi-family, 16% NOO CRE portfolio is made up of $993.5 million of income producing loans and $481.6 million
Slide 10: Indirect Auto Overview
Indirect Auto Overview Indirect Auto Credit Breakdown Indirect Auto Highlights 3.6% 2.5% Indirect auto loans increased to $246.7 million on June 30, 2026, compared to $238.3 million on March 31, 2026 5.4% Strong credit quality in the sector, positioned for resiliency across economic cycles(1): 1
Slide 11: Noninterest Income Overview
Noninterest Income Overview Noninterest Income 2Q’26 Highlights $ in Millions Noninterest income was $14.1 million for 2Q’26, $15.0 compared to $11.3 million for 1Q’26; increase $14.1 primarily due to: $14.0 o An increase of $929 thousand in mortgage $13.0 banking revenues, mainly because of $12.2
Slide 12: Mortgage Banking Revenue
Mortgage Banking Revenue 2Q’26 Highlights The increase of $929 thousand in mortgage banking revenues was mainly a result of improved mortgage originations during the quarter In 2Q’26, MSRs were written up by $515 thousand as compared to a write up of $250 thousand in 1Q’26 Mortgage Servicing Rig
Slide 13: Diversified Revenue Stream
Diversified Revenue Stream Six Months Ended June 30, 2026 Total Revenues Noninterest Income $118.6 million $25.4 million Trust, 6% Investment Services, 4% Service Charges on Deposits, 18% Other, 8% Net Interest Noninterest Income, 79% Income, 21% Interchange Fees, 29% Mortgage, 34% 13 Source: Compan
Slide 14: Net Interest Income and Margin
Net Interest Income and Margin Net Interest Income & Margin (1) 2Q’26 Highlights $ in Millions $50.3 Net interest income (“NII”) of $50.3 million, compared to $42.9 million in 1Q’26 $42.5 $43.0 $43.0 $42.9 Interest income was $75.0 million as compared to $62.6 million in 1Q’26. The $12.4 million
Slide 15: Deposit Portfolio
Deposit Portfolio Total Deposits 2Q’26 Highlights $ in Millions $4,641 Total deposits increased $613.0 million from $4,028 1Q’26, largely due to: $3,881 $3,874 $3,739 $1,152 o $595.6 million in deposits from the Bank of Houston acquisition $1,034 o $17.4 million of organic deposit growth $1,050 $1
Slide 16: Granular Deposit Base & Ample Liquidity
Granular Deposit Base & Ample Liquidity Total Deposit Base Total Borrowing Capacity Breakdown $2.1 Billion Commercial: Rural 49% Markets: FHLB: 73% $1,318 FRB: $789 Retail: 42% Metro Markets: 27% Public Funds: 9% Dollars in millions Average deposit account size is approximately $43 City Bank had
Slide 17: Credit Quality
Credit Quality Nonperforming Ratios 2Q’26 Highlights 0.34% 0.32% Provision for credit losses of $350 thousand 0.31% 0.26% 0.26% 0.25% compared to $260 thousand in 1Q’26 0.25% 0.19% Classified loans of $80.3 million compared 0.16% 0.13% to $43.3 million at March 31, 2026, predominately from BOH a
Slide 18: Investment Securities
Investment Securities Securities & Cash 2Q’26 Highlights $ in Millions Investment securities totaled $555.4 million, a $47.4 million decrease from 2Q’26 $722 $787 $635 $552 $471 All securities are classified as available for sale $570 $571 $567 $603 $555 All municipal bonds are in Texas; fair
Slide 19: Noninterest Expense and Efficiency
Noninterest Expense and Efficiency $45.0 150.0% 2Q’26 Highlights 130.0% Noninterest expense increased $4.3 million $39.9 from 1Q’26, largely attributable to: $40.0 110.0% o An increase in core operating expenses related to the Bank of $35.5 Houston acquisition and higher 90.0% incentive-based comp
Slide 20: Balance Sheet Growth and Development
Balance Sheet Growth and Development Balance Sheet Highlights Tangible Book Value Per Share (1) $ in Millions $29.65 $29.57 $5,391 $29.05 $4,640 $4,364 $3,771 $28.14 $3,739 $3,099 $26.70 $630 $454 Total Assets Total Loans Total Total 2Q25 3Q25 4Q25 1Q26 2Q26 HFI Deposits Stockholders' Equity 30-Jun-
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% 10.47% 14.41% 14.45% 10.25% 14.10% 9.98% 13.86% 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 3Q25 4Q25 1Q26 2Q26 Tier 1 Capital to Average Assets Ratio Total Capital to Risk-Weighted Assets Ratio
Slide 22: 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 23: 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 24: Appendix
South Plains Financial, Inc. Appendix
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures For the quarter ended June 30, March 31, December 31, September 30, June 30, 2026 2026 2025 2025 2025 Pre-tax, pre-provision income Net income $ 18,992 $ 14,545 $ 15,254 $ 16,318 $ 14,605 Income tax expense 5,286 3,816 3,832 4,342 4,020 Provision for credit losses 350 260
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