South Plains Financial, Inc. Publishes 2023 Community Impact Report

Rhea-AI Summary

South Plains Financial, Inc. (NASDAQ:SPFI) released its 2023 Community Impact Report, showcasing its commitment to environmental, social, and governance initiatives. The report highlights the company's efforts in promoting diversity, supporting small businesses, and engaging in community development.

Positive

• South Plains demonstrates a strong commitment to ESG initiatives.
• The company provided over $291 million in loans for small businesses, farms, and community development.
• Employees volunteered nearly 5,000 hours to various organizations.
• 68% of the Bank's customers receive e-delivery statements.
• Recycling efforts resulted in over 62 tons of recycled paper and technology equipment.
• Installation of energy-saving measures like LED lights and electronic thermostats.
• Partnerships with EverFi and Watermark Community Development Corporation for financial literacy programs.
• The full report is available at www.spfi.bank/communityimpact.

Negative

• None.

LUBBOCK, Texas, March 13, 2024 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (the “Bank”), today announced the release of the Company’s 2023 Community Impact Report. This report demonstrates South Plains’ ongoing commitment to being a responsible corporate citizen in each of the unique communities in which the Company and the Bank operate.

“Each year, we continue to enhance and broaden our environmental, social, and governance (“ESG”) plans to positively impact our Company, the environment and our communities,” commented Curtis Griffith, South Plains’ Chairman and Chief Executive Officer. “Through our ESG initiatives, we are underscoring our commitment to using the power of relationships to help people succeed and live better in all of the communities that we serve. Our focus on building a financial institution that is the hometown bank in every community that we serve is enhanced by our ESG efforts.”

Highlights from the 2023 Community Impact Report:

• South Plains fosters an inclusive workplace and meets Nasdaq’s board diversity requirement.
• Provided more than $291 million in loans for small businesses, farms and community development during the year ended December 31, 2023.
• Employees volunteered more than 4,979 hours to various organizations.
• More than 68% of the Bank’s customers receive their statements through e-delivery.
• Recycling efforts yielded more than 62 tons of recycled paper and technology equipment.
• Installed LED lights and electronic thermostats throughout our branch network to reduce energy usage.
• Partnered with EverFi and Watermark Community Development Corporation to sponsor financial literacy programs for high schools and under-resourced communities in our markets.
  

For more information, please read the Company’s 2023 Community Impact Report, available at www.spfi.bank/communityimpact.

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.

Available Information

The Company routinely posts important information for investors on its web site (under www.spfi.bank and, more specifically, under the News & Events tab at www.spfi.bank/news-events/press-releases). The Company intends to use its web site as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD (Fair Disclosure) promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, investors should monitor the Company’s web site, in addition to following the Company’s press releases, SEC filings, public conference calls, presentations and webcasts.

The information contained on, or that may be accessed through, the Company’s web site is not incorporated by reference into, and is not a part of, this document.

Contact:	Mikella Newsom, Chief Risk Officer and Secretary
	investors@city.bank
	(866) 771-3347

Source: South Plains Financial, Inc.

FAQ

What is the ticker symbol for South Plains Financial, Inc.?

The ticker symbol for South Plains Financial, Inc. is SPFI.

What does the 2023 Community Impact Report highlight?

The report showcases South Plains Financial's commitment to ESG initiatives, diversity, small business support, and community development.

How much did the company provide in loans for small businesses, farms, and community development in 2023?

South Plains Financial provided over $291 million in loans for small businesses, farms, and community development in 2023.

What percentage of the Bank's customers receive e-delivery statements?

Over 68% of the Bank's customers receive e-delivery statements.

How many hours did employees volunteer to various organizations?

Employees volunteered nearly 5,000 hours to various organizations.

What were the results of the recycling efforts mentioned in the report?

Recycling efforts yielded over 62 tons of recycled paper and technology equipment.

What energy-saving measures were implemented by South Plains Financial?

The company installed LED lights and electronic thermostats to reduce energy usage.

Which organizations did South Plains Financial partner with for financial literacy programs?

South Plains Financial partnered with EverFi and Watermark Community Development Corporation for financial literacy programs.