SOUTH PLAINS FINANCIAL, INC. 8-K

What Happened
South Plains Financial, Inc. announced that its Board of Directors approved a stock repurchase program authorizing up to $10.0 million of the company’s outstanding common stock. The authorization was approved on February 18, 2026; the program is set to conclude on February 23, 2027, unless earlier terminated, extended, or the $10.0 million cap is exhausted. A press release announcing the program was filed as Exhibit 99.1 to the Form 8-K.

Key Details

• Board approval date: February 18, 2026.
• Authorization amount: up to $10.0 million of outstanding common stock.
• Program end date: February 23, 2027 (subject to earlier termination, extension, or depletion of the $10.0M).
• Press release announcing the program attached as Exhibit 99.1 to the 8-K (filed February 23, 2026).

Why It Matters
A board‑authorized repurchase program gives the company the ability to buy back shares over the specified period. Buybacks can reduce the number of shares outstanding and are an element of capital allocation that investors watch for potential impacts on earnings per share and shareholder value. Investors should monitor future disclosures for actual repurchase activity, timing, and amounts.