South Plains CEO Transition
South Plains Financial Appoints Cory Newsom CEO; Curtis Griffith to Retire in 2026
Key Points
Curtis Griffith said the transition reflects “many years of deliberate planning” and that his proudest legacy was the company’s culture: “one centered on relationships and a shared commitment to helping people succeed,” adding that he has been “building South Plains over more than four decades.”
In its SEC filing, South Plains said its board “routinely assesses the Company’s corporate governance function on an ongoing basis,” including “composition and succession strategy for the Board and management” and “the rights of its principal shareholders,” framing the leadership and governance changes as part of that ongoing process.
For the shareholder agreement change, the company disclosed that Henry TAW LP’s Board Representation Agreement was dated March 7, 2019 and gave the shareholder the right “to designate one (1) individual for nomination to the Board, subject to the terms and conditions set forth therein.” The filing also noted the shareholder (through a predecessor) “originally acquired shares… when the Company was a private entity and not widely-held.”
Cory Newsom, appointed successor CEO, said, “I am honored to step into this role and grateful to our board for the opportunity to continue to be part of South Plains’ journey,” emphasizing continuity with the board’s planned succession.
South Plains Financial (NASDAQ: SPFI) named Cory Newsom as its next CEO on June 17, 2026, replacing Curtis Griffith, who built the company over more than four decades. Griffith will officially step down on December 31, 2026, but will stay on as Chairman of both South Plains Financial and City Bank, according to MarketWatch.
On the same day, the company also ended a seven-year board agreement with legacy shareholder Henry TAW LP, removing the group's right to nominate a board member. The two moves together signal that South Plains is fully stepping into its identity as a mature, independent public company.
Griffith's 40-Year Run Ends With Planned Handoff
Curtis Griffith has led South Plains Financial since the 1980s, turning a regional West Texas lender into a publicly traded institution. He described the transition as the result of "many years of deliberate planning," according to Everything Lubbock. Griffith said his proudest legacy was a company culture "centered on relationships and a shared commitment to helping people succeed."
By giving 18 months of notice before his exit date of December 31, 2026, Griffith aims to reassure investors and employees alike. He will not disappear entirely — he stays on as Chairman, keeping his deep ties to the West Texas business community intact.
Newsom Already Running the Bank Day to Day
Cory Newsom is not a newcomer stepping into a big chair. As President, he already manages daily operations and leads the company's growth strategy, which focuses on steady loan growth and strategic acquisitions, according to Guru Focus. He said, "I am honored to step into this role and grateful to our board for the opportunity to continue to be part of South Plains' journey."
Newsom is also the architect behind the Bank of Houston acquisition — the company's biggest move into a major urban market. That deal gave South Plains a foothold in the Houston metro area and proved the bank could export its small-town, relationship-based service model to a large, competitive city.
A Legacy Shareholder Agreement Quietly Dissolves
Also on June 17, South Plains ended its 2019 Board Representation Agreement with Henry TAW LP. That deal, signed on March 7, 2019, gave the shareholder the right to nominate one board member. The agreement dated back to when Henry TAW LP — through a predecessor — first bought shares while the company was still private and "not widely-held," per the company's SEC filing.
The termination was mutual, triggered by changes in Henry TAW LP's ownership. The group loses its formal board seat nomination right, though it may still hold shares. Governance experts see the move as a sign that South Plains no longer needs the oversight structure built for its pre-IPO era, according to TipRanks.
What Comes Next: More Deals, Same Culture
With Newsom at the helm, analysts expect South Plains to move more aggressively on mergers and acquisitions across Texas. The company has framed its strategy around disciplined loan growth and selective deals — not rapid, risky expansion. The Bank of Houston integration is the model it plans to repeat.
South Plains also announced a plan to repurchase 300,000 shares, per MarketWatch. That signals confidence in the stock and gives the market a concrete sign of financial health as the leadership era changes. Griffith's departure is a major moment, but the company is betting that Newsom's deep familiarity with the business makes this a title change more than a turning point.
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