South Plains Financial Plans CEO Transition with 300,000 Share Buyback
SPFI•South Plains Financial’s long-time CEO Curtis Griffith will retire on December 31, 2026, remain as board chairman and serve as consultant under a Retirement and Consultancy Agreement. The company will repurchase 300,000 shares from Griffith at prior closing price by June 30, 2026 as part of the transition plan.
1. Executive Leadership Transition
Curtis Griffith will retire as CEO on December 31, 2026, continue as board chairman and transition into a consultant role under a Retirement and Consultancy Agreement to support a smooth handover.
2. New CEO Appointment and Strategy
The board has appointed Cory Newsom, current president and director, as CEO effective December 31, 2026; he has led day-to-day operations, disciplined organic loan growth and the successful integration of the Bank of Houston acquisition.
3. Share Repurchase Arrangement
South Plains will repurchase 300,000 shares from Griffith in a private transaction at the closing market price on the day before repurchase, to be completed by June 30, 2026, under board approval.
