Management ChangeJun 17, 2026, 04:16 PM
South Plains Financial CEO Curtis Griffith to Retire; Cory Newsom Appointed CEO
AI Summary
South Plains Financial, Inc. announced that Curtis Griffith will retire as Chief Executive Officer effective December 31, 2026, but will continue as Chairman of the Board. Cory Newsom, currently President and director, has been appointed to succeed Mr. Griffith as CEO. This transition is part of a long-term succession plan. Additionally, the company will repurchase 300,000 shares of common stock from Mr. Griffith in a private transaction on or before June 30, 2026.
Key Highlights
- Curtis Griffith to retire as Chief Executive Officer of South Plains Financial, Inc. effective December 31, 2026.
- Mr. Griffith will continue to serve as Chairman of the Board and remain a director of the Company and City Bank.
- Cory Newsom, current President and director, appointed Chief Executive Officer effective December 31, 2026.
- The leadership transition is the result of many years of deliberate planning.
- South Plains Financial will repurchase 300,000 shares of common stock from Mr. Griffith.
- The stock repurchase will occur on or before June 30, 2026, at the prior day's closing market price.
- Mr. Griffith will serve as a consultant to the Company starting upon his retirement.
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Price Impact
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