From humble beginnings to a confident future.

Headquartered in Lubbock, Texas, City Bank has more than $3 billion in assets with 28 branch locations and 18 mortgage locations throughout Texas and New Mexico. Since 1941, City Bank has been committed to offering its customers revolutionary products and services to stay in touch with their needs. Through this commitment, City Bank offers additional banking services including mortgage lending, trust, insurance, investments, indirect lending and private banking.

The Acquisition

In 1984, Security National Bank in Lubbock was the first bank in the region to fail. At the FDIC auction, the winning bid came from Bill Loyd, who had previously owned banks in Plains, Muleshoe, Dimmitt and Clovis, New Mexico. City Bank was his third choice of possible names for his new bank, but the FDIC would not let him use either of the first two. At the time, the bank was located in a building at the southwest corner of Slide Road and Brownfield Highway. The current building was under construction, but after the Dallas-based bank financing the building also failed, construction was completed with funding by the FDIC. Most of the original plans were followed, including the “S” (for Security National Bank) in the exterior door handles still in place on the south and south- east doors. Mr. Loyd eventually agreed to lease space for City Bank in the building and, in 1991, finally bought it from the FDIC for much less than it had cost to build.

In late 1992, Mr. Loyd agreed in principle to sell City Bank to another Lubbock bank, but a disagreement disrupted the sale in early 1993. Mike Liner heard about the situation and asked Curtis Griffith to talk to Mr. Loyd the next time he was in Lubbock to see if he still wanted to sell, thinking Lubbock would prove to be a good central location from which to make farm loans to the entire South Plains. Later that same day and after 45 minutes of discussion, a handshake deal was done. Mike and Curtis spent much of that summer learning about banking in the Lubbock area. The acquisition took place in October 1993, and Cory Newsom had become City Bank’s cashier after leaving his position as cashier in Levelland, Texas. At the closing, City Bank had more than $80 million in assets. By the end of 1994, this family of banks—including Morton and Levelland—had total assets of $200 million.

Growth and Capabilities

Besides the addition of new locations, City Bank has grown as an organization in many other ways. Our agricultural, consumer, commercial and real estate loan officers oversee more than $2 billion in loans. City Bank also serves 25 other banks through its correspondent banking department, one of the largest in the region. Additionally, City Bank’s Wealth Management department manages more than $250 million in assets, more than $220 million in customer investment accounts, and $270 million in deposits. The City Bank Indirect Lending department is one of the largest in the area and services about $200 million in auto loans.

City Bank maintains a state-of-the-art product development infrastructure. The enterprise technology team has assisted the electronic banking division in delivering some of the most innovative products, including an award-winning mobile app.

City Bank was one of the first Texas banks to sell crop insurance through its Windmark Insurance agency which now provides services in 15 states.

Our Future

On May 9, 2019 City Bank stock began to publicly trade on the NASDAQ as South Plains Financial, Inc. (NASDAQ: SPFI). The decision to become a publicly traded institution was a strategic step to grow the organization. City Bank is the first Lubbock-based community bank to sell shares of stock to the public.

In more than 20 years, City Bank has grown from barely $40 million to more than $3 billion in assets. Along the way, the City Bank family has grown from 20 to more than 700 employees. Together, they make up the finest group of financial talent in the Southwest. City Bank’s success as an organization depends upon hiring, training, and retaining the very best people.

The world, and banking in particular, is changing very rapidly. City Bank strives to provide its customers with the best possible combination of safety, convenience and innovation in all of its financial products and services. As a company, City Bank will continue to focus on meeting the financial needs of all our many communities in a manner that will keep deposits safe and provide a good return on the investment of shareholders. For managers of this company, there is a focus on providing employees with the best possible working environment, with good pay and benefits and opportunities for growth and advancement. In return, City Bank expects its employees to focus on doing their very best to provide unsurpassed service to its most important asset, our customers. This is City Bank’s heritage and, most importantly, this is our future.