UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  October 17, 2024
 

South Plains Financial, Inc.
(Exact name of registrant as specified in its charter)


Texas
001-38895
75-2453320
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

5219 City Bank Parkway
Lubbock, Texas
 
79407
(Address of principal executive offices)
 
(Zip Code)

(806) 792-7101
(Registrant’s telephone number, including area code)
 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $1.00 per share
SPFI
The Nasdaq Stock Market LLC
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.



Item 8.01
Other Events.
 
On October 17, 2024, South Plains Financial, Inc. issued a press release announcing the declaration of a quarterly cash dividend of $0.15 per share on its outstanding common stock.  The dividend will be paid on November 12, 2024 to shareholders of record as of the close of business on October 28, 2024.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 
Item 9.01
Financial Statements and Exhibits.
 

(d)
Exhibits.
 
99.1 Press release, dated October 17, 2024, announcing South Plains Financial, Inc. quarterly cash dividend.

104 Cover Page Interactive Data File (formatted as Inline XBRL).


SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
SOUTH PLAINS FINANCIAL, INC.
 
 
 
Date:  October 17, 2024 By: /s/ Steven B. Crockett
 
 
Steven B. Crockett
 
 
Chief Financial Officer and Treasurer
 
 


Exhibit 99.1
 

South Plains Financial, Inc. Announces 7% Increase to Quarterly Cash Dividend
 
LUBBOCK, Texas, October 17, 2024 (GLOBE NEWSWIRE) – South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains”), the parent company of City Bank, today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share of common stock, a 7% increase from the most recent quarterly cash dividend declared in July 2024. The dividend is payable on November 12, 2024 to shareholders of record as of the close of business on October 28, 2024.
 
About South Plains Financial, Inc.
 
South Plains is the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock, Texas. City Bank is one of the largest independent banks 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. South Plains provides a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. Its principal business activities include commercial and retail banking, along with investment, trust and mortgage services. Please visit https://www.spfi.bank for more information.
 
Contact:
Mikella Newsom, Chief Risk Officer and Secretary
 
investors@city.bank
 
(866) 771-3347

Source: South Plains Financial, Inc.
 


v3.24.3
Document and Entity Information
Oct. 17, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Oct. 17, 2024
Entity File Number 001-38895
Entity Registrant Name South Plains Financial, Inc.
Entity Central Index Key 0001163668
Entity Incorporation, State or Country Code TX
Entity Tax Identification Number 75-2453320
Entity Address, Address Line One 5219 City Bank Parkway
Entity Address, City or Town Lubbock
Entity Address, State or Province TX
Entity Address, Postal Zip Code 79407
City Area Code 806
Local Phone Number 792-7101
Title of 12(b) Security Common Stock, par value $1.00 per share
Trading Symbol SPFI
Security Exchange Name NASDAQ
Entity Emerging Growth Company true
Entity Ex Transition Period false
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false

South Plains Financial (NASDAQ:SPFI)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more South Plains Financial Charts.
South Plains Financial (NASDAQ:SPFI)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more South Plains Financial Charts.