Exhibit 99.2
South Plains Financial Second Quarter 2026 Earnings Presentation July 17, 2026
Safe Harbor Statement and Other Disclosures FORWARD-LOOKING STATEMENTS This presentation contains, and future oral and written statements of South Plains Financial, Inc. (“South Plains”, “SPFI”, or the “Company”) and City Bank (“City Bank” or the “Bank”) may contain, statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect South Plains’ current views with respect to future events and South Plains’ financial performance. Any statements about South Plains’ expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Forward-looking statements include, but are not limited to: (i) projections and estimates of revenues, expenses, income or loss, earnings or loss per share, and other financial items, (ii) statements of plans, objectives and expectations of South Plains or its management, (iii) statements of future economic performance, and (iv) statements of assumptions underlying such statements. Forward-looking statements should not be relied on because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of South Plains and City Bank. These risks, uncertainties and other factors may cause the actual results, performance, and achievements of South Plains and City Bank to be materially different from the anticipated future results, performance or achievements expressed in, or implied by, the forward-looking statements. Factors that could cause such differences include, but are not limited to, the impact on us and our customers of a decline in general economic conditions and any regulatory responses thereto; slower economic growth rates or potential recession in the United States and our market areas; uncertainty or perceived instability in the banking industry as a whole; increased competition for deposits in our market areas among traditional and nontraditional financial services companies, and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to a continuation of the elevated interest rate environment or future reductions in interest rates and a resulting decline in net interest income; the persistent inflationary pressures in the United States; the uncertain impacts of current and future monetary policies of the Board of Governors of the Federal Reserve System; changes in unemployment rates in the United States and our market areas; adverse changes in customer spending, borrowing and savings habits; elevated asset prices; declines in housing and commercial real estate values and prices; a deterioration of the credit rating for U.S. long-term sovereign debt or the impact of uncertain or changing political conditions, including federal government shutdowns and uncertainty regarding United States fiscal debt, deficit and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; severe weather, natural disasters, military conflicts (including the conflicts in the Middle East, the possible expansion of such conflicts and potential geopolitical and economic consequences), acts of terrorism, geopolitical instability, domestic civil unrest or other external events, including as a result of the impact of the policies of the current U.S. presidential administration or Congress; the impacts of tariffs, sanctions, and other trade policies of the United States and its global trading counterparts and the resulting impact on the Company and its customers; competition and market expansion opportunities; changes in non-interest expenditures or in the anticipated benefits of such expenditures; the risks related to the development, implementation, use and management of emerging technologies, including digital assets, artificial intelligence and machine learning; potential costs related to the impacts of climate change; current or future litigation, regulatory examinations or other legal and/or regulatory actions; our ability to recognize the expected benefits and synergies of our completed acquisitions; changes in accounting principles and standards, including those related to loan loss recognition under the current expected credit loss, or CECL, methodology; and changes in applicable laws, regulations, or policies in the United States. Due to these and other possible uncertainties and risks, South Plains can give no assurance that the results contemplated in the forward-looking statements will be realized and readers are cautioned not to place undue reliance on the forward-looking statements contained in this presentation. Additional information regarding these factors and uncertainties to which South Plains’ business and future financial performance are subject is contained in South Plains’ most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q on file with the U.S. Securities and Exchange Commission (the “SEC”), including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations“ of such documents, and other documents South Plains files or furnishes with the SEC from time to time, which are available on the SEC’s website, www.sec.gov. Further, any forward-looking statement speaks only as of the date on which it is made and South Plains undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by applicable law. All forward-looking statements, express or implied, herein are qualified in their entirety by this cautionary statement. NON-GAAP FINANCIAL MEASURES Management believes that certain non-GAAP performance measures used in this presentation provide meaningful information about underlying trends in its business and operations and provide both management and investors a more complete understanding of the Company’s financial position and performance. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, SPFI’s reported results prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition of the Company as reported under GAAP. Numbers in this presentation may not sum due to rounding. 2
Today’s Speakers Curtis C. Griffith Chairman & Chief Executive Officer Elected to the board of directors of First State Bank of Morton, Texas, in 1972 and employed by it in 1979 Elected Chairman of the First State Bank of Morton board in 1984 Chairman of the Board of City Bank and the Company since 1993 Steven B. Crockett Chief Financial Officer & Treasurer Appointed Chief Financial Officer in 2015 Previously Controller of City Bank and the Company for 14 and 5 years respectively Began career in public accounting in 1994 by serving for seven years with a local firm in Lubbock, Texas Cory T. Newsom President Entire banking career with the Company focused on lending and operations Appointed President and Chief Executive Officer of the Bank in 2008 Joined the Board in 2008 3
Second Quarter 2026 Highlights Net income for 2Q’26 was $19.0 million, compared to $14.5 million for 1Q’26 Diluted earnings per share for 2Q’26 was $0.96, compared to $0.85 for 1Q’26 Net interest margin was 4.00% for 2Q’26, compared to 4.04% for 1Q’26 Loans HFI were $3.77 billion as of June 30, 2026, compared to $3.10 billion as of March 31, 2026 Deposits totaled $4.64 billion as of June 30, 2026, compared to $4.03 billion as of March 31, 2026 Nonperforming assets to total assets was 0.19% as of June 30, 2026, compared to 0.13% as of March 31, 2026 Tangible book value (non-GAAP) per share(2) was $29.57 as of June 30, 2026, compared to $29.65 as of March 31, 2026 Completed the merger of BOH Holdings, Inc. (“BOH”) with and into South Plains and the merger of BOH’s wholly-owned subsidiary, Bank of Houston, with and into City Bank, all effective on April 1, 2026 4 Source: Company documents Net interest margin is calculated on a tax-equivalent basis Tangible book value per share is a non-GAAP measure. See appendix for the reconciliation of non-GAAP measures to GAAP Loans Held for Investment (“HFI”) $3.77 B Average Yield on Loans 6.81% Net Income $19.0 M EPS - Diluted $0.96 Net Interest Margin (1) (“NIM”) 4.00% Total Deposits $4.64 B Return on Average Assets (“ROAA”) 1.44% Efficiency Ratio 61.59% Second Quarter 2026
Attractive Markets Poised for Organic Growth Permian Basin Basin Dallas / Ft. Worth The Permian Basin is the largest oil producing region in the U.S., spanning West Texas and southeastern New Mexico Current oil production of ~6.6 million barrels per day, representing ~48% of total U.S. production Top operators in the region include ExxonMobil, Chevron, Occidental Petroleum, ConocoPhillips and EOG Resources Largest MSA in Texas and fourth largest in the nation Steadily expanding population that accounts for over 26% of the state’s population Created the third most new jobs of any metro area in the U.S. in 2024 Generated more than $790 billion in GDP in 2024 accounting for ~30% of Texas’ total GDP Houston Second largest MSA in Texas and fifth largest in the nation The 6th largest metro economy in the U.S. Would rank as the 21st largest economy in the world with GDP of more than $750 billion in 2024 Called the “Energy Capital of the World,” the area also boasts the world’s largest medical center and busiest port in the U.S. in 2025 Lubbock Basin 11th largest Texas city with a population exceeding 360,000 people Major industries in agribusiness, education & research, and healthcare & life sciences, among others More than 53,000 college students enrolled with ~14,000 graduates annually A large share graduate with degrees in healthcare, engineering, agriculture and business providing a strong labor pool 5 DFW and Houston data from the BEA, BLS and US Census Bureau Permian Basin Data from the U.S. EIA Lubbock data from US Census Bureau, Dallas Fed, and St. Louis Fed
Loan Portfolio 2Q’26 Highlights Loans HFI increased by $667.3 million from 1Q’26, primarily resulting from: $631.9 million in loans from the Bank of Houston acquisition $35.4 million of organic loan growth The average yield on loans was 6.81% for 2Q’26, compared to 6.83% for 1Q’26. Problem loan interest and fee recoveries impacted loan yields as noted: 1Q’26 - $545 thousand; +7 bps 3Q’25 - $640 thousand; +8 bps 2Q’25 - $1.7 million; +23 bps Total Loans HFI $ in Millions 6 Source: Company documents $3,771
Major Metropolitan Market Loan Growth 2Q’26 Highlights Loans HFI in our major metropolitan markets(1) increased $682 million in 2Q’26 as compared to 1Q’26 largely due to: $632 million in loans from the Bank of Houston acquisition $50 million of organic loan growth Bank of Houston has provided important scale in Houston, Texas - one of the fastest growing MSAs in the country Our major metropolitan market loan portfolio represents 44.7% of the Bank’s total loans HFI on June 30, 2026 Total Metropolitan Market(1) Loans $ in Millions 7 5.00% Source: Company documents (1) The Bank defines its “major metropolitan markets” to include Dallas, Houston and El Paso, Texas
Loan HFI Portfolio Loan Mix Loan Portfolio ($ in millions) Commercial C&D $ 201.3 Residential C&D 282.6 CRE Owner/Occ. 538.9 Other CRE Non Owner/Occ. 761.4 Multi-Family 229.8 C&I 563.3 Agriculture 154.6 1-4 Family 714.0 Auto 263.8 Other Consumer 61.1 Total $ 3,770.8 Fixed vs. Variable Rate 8 Source: Company documents Data as of June 30, 2026
Non-Owner Occupied CRE Portfolio 9 Details NOO CRE was 39.1% of loans HFI, an increase from 37.3% at March 31, 2026 NOO CRE portfolio is made up of $993.5 million of income producing loans and $481.6 million of construction, acquisition, and development loans Estimated weighted average LTV of income-producing NOO CRE was 57% Office NOO CRE loans were 4.9% of loans HFI and had a weighted average LTV of 56% NOO CRE loans past due 90+ days or nonaccrual: 17 basis points of portfolio NOO CRE(1) Sector Breakdown Source: Company documents Data as of June 30, 2026 (1) Non-owner occupied commercial real estate (“NOO CRE”) Property Type ($ in millions) Income-producing: Multi-family $ 229.8 Retail 277.2 Office 182.9 Industrial 160.4 Storage facilities 45.6 Hospitality 41.5 Other 56.1 Construction, acquisition, and development: Residential construction 143.2 Other 338.4 Total $ 1,475.1
Indirect Auto Overview Indirect Auto Highlights Indirect auto loans increased to $246.7 million on June 30, 2026, compared to $238.3 million on March 31, 2026 Strong credit quality in the sector, positioned for resiliency across economic cycles(1): Super Prime Credit (>719): $175.6 million Prime Credit (719-660): $43.0 million Near Prime Credit (659-620): $13.3 million Sub-Prime Credit (619-580): $6.0 million Deep Sub-Prime Credit (<580): $8.8 million Loans past due 30+ days: 24 bps of the portfolio Non-car/truck (RV, boat, etc.): less than 1% of this portfolio Indirect Auto Credit Breakdown 10 Source: Company documents Data as of June 30, 2026 (1) Credit score level most recently obtained
Noninterest Income Overview Noninterest Income $ in Millions 2Q’26 Highlights Noninterest income was $14.1 million for 2Q’26, compared to $11.3 million for 1Q’26; increase primarily due to: An increase of $929 thousand in mortgage banking revenues, mainly because of improved mortgage originations during the quarter An increase of $894 thousand in bank card services and interchange revenue, mainly because of continued growth in customer card usage and incentives received during the period Of note, there was an $801 thousand loss in a Small Business Investment Company (“SBIC”) investment during 1Q’26, which lowered other noninterest income in that period 11 Source: Company documents Note: Mortgage servicing rights fair value (“MSR FV”)
Mortgage Banking Revenue Mortgage Servicing Rights Adjustments $ in Thousands 2Q’26 Highlights The increase of $929 thousand in mortgage banking revenues was mainly a result of improved mortgage originations during the quarter In 2Q’26, MSRs were written up by $515 thousand as compared to a write up of $250 thousand in 1Q’26 12 Source: Company documents Note: Mortgage servicing rights (“MSR”); Mortgage Banking Revenue (“MBR”); MSR Fair Value (“MSR FV”) 2Q’26 1Q’26 4Q'25 3Q'25 2Q'25 Mortgage Banking Revenue $ 4,847 3,918 2,390 2,575 3,606 MSR FV Adj. $ 515 250 (665) (925) (156) MBR Excluding MSR FV Adj $ 4,332 3,668 3,055 3,500 3,762 MSR FV Adj. QoQ Delta $ 265 915 260 (769) 1,429
Diversified Revenue Stream Six Months Ended June 30, 2026 Total Revenues $118.6 million Noninterest Income $25.4 million 13 Source: Company documents
Net Interest Income and Margin Net Interest Income & Margin(1) $ in Millions 2Q’26 Highlights Net interest income (“NII”) of $50.3 million, compared to $42.9 million in 1Q’26 Interest income was $75.0 million as compared to $62.6 million in 1Q’26. The $12.4 million increase was largely due to BOH’s $667 million of interest earning assets NIM, was 4.00% in 2Q’26, compared to 4.04% in 1Q’26. Problem loan interest and fee recoveries impacted NIM as noted: 1Q’26 - $545 thousand; +5 bps 3Q’25 - $640 thousand; +6 bps 2Q’25 NIM - $1.7 million; +17 bps 14 3.54% Source: Company documents (1) Net interest margin is calculated on a tax-equivalent basis $50.3
Deposit Portfolio Total Deposits $ in Millions 2Q’26 Highlights Total deposits increased $613.0 million from 1Q’26, largely due to: $595.6 million in deposits from the Bank of Houston acquisition $17.4 million of organic deposit growth Cost of interest-bearing deposits increased to 2.74% from 2.64% in 1Q’26 Cost of deposits was 208 basis points for 2Q’26, compared to 197 basis points for 1Q’26 Noninterest-bearing deposits to total deposits were 24.8% at June 30, 2026 15 Source: Company documents $4,641
Granular Deposit Base & Ample Liquidity Total Borrowing Capacity $2.1 Billion 16 Total Deposit Base Breakdown Average deposit account size is approximately $43 thousand City Bank’s percentage of estimated uninsured or uncollateralized deposits is 29% of total deposits City Bank had $2.1 billion of available borrowing capacity through the Federal Home Loan Bank of Dallas (“FHLB”) and the Federal Reserve Bank of Dallas (“FRB”) No new borrowings utilized from these sources during 2Q’26. Existing Bank of Houston FHLB borrowings of $15 million were repaid during the quarter Source: Company documents Data as of June 30, 2026
Credit Quality 2Q’26 Highlights Nonperforming Ratios Net Charge-Offs to Average Loans ACL(1) to Total Loans HFI 17 Provision for credit losses of $350 thousand compared to $260 thousand in 1Q’26 Classified loans of $80.3 million compared to $43.3 million at March 31, 2026, predominately from BOH acquired loans, in line with expectations at closing. Our credit team is actively working these loans. Nonperforming loans increased $4.4 million from March 31, 2026; ratio of nonperforming loans to total loans of 0.25% Source: Company documents Allowance for Credit Losses (“ACL”)
Investment Securities 2Q’26 Highlights Investment securities totaled $555.4 million, a $47.4 million decrease from 2Q’26 All securities are classified as available for sale All municipal bonds are in Texas; fair value hedges of $117 million All MBS, CMO, and Asset Backed securities are U.S. Government or GSE Duration of the securities portfolio was 6.27 years at June 30, 2026 2Q’26 Securities Composition $602.9 million Securities & Cash $ in Millions 18 Source: Company documents
Noninterest Expense and Efficiency 2Q’26 Highlights Noninterest expense increased $4.3 million from 1Q’26, largely attributable to: An increase in core operating expenses related to the Bank of Houston acquisition and higher incentive-based compensation expense There was ~$1.1 million of acquisition-related expenses in 2Q’26, compared to $1.5 million in 1Q’26 Efficiency ratio of 61.6% in 2Q’26, compared to 65.3% in 1Q’26 19 Source: Company documents
Balance Sheet Growth and Development Balance Sheet Highlights $ in Millions Tangible Book Value Per Share(1) 20 Source: Company documents (1) Tangible book value per share is a non-GAAP measure. See appendix for the reconciliation of non-GAAP measures to GAAP
Strong Capital Base Common Equity Tier 1 Ratio Tier 1 Capital to Average Assets Ratio Total Capital to Risk-Weighted Assets Ratio 21 Source: Company documents Note: There was a decline in Total Capital at September 30, 2025 as a result of the redemption of $50 million in subordinated debt that was previously included in Tier 2 capital. (1) Tangible common equity to tangible assets ratio is a non-GAAP measure. See appendix for the reconciliation of non-GAAP measures to GAAP Tangible Common Equity to Tangible Assets Ratio(1)
Merger with BOH Holdings, Inc. Completed Building a Bank for the Future Houston Odessa Austin Midland > 1.4% Situated in some of the highest growth markets in the country Projected 5-Year Population CAGR > 1.0% TX NM Lubbock Dallas South Plains Branch (24) BOH Branch (2) 22 Strengthens Position in Houston Market Enhances a top-tier community banking presence in Houston, one of the fastest-growing MSAs in the U.S. Creates a more balanced, diversified Texas franchise Expands SPFI’s commercial and private banking relationships across Houston and surrounding counties 11% accretive to EPS with tangible book value earnback under 3 years Drives improved profitability metrics and enhances long-term shareholder value Well-structured transaction providing attractive valuation and low execution risk Financially Compelling Transaction Preserves a shared focus on relationship-based client service Provides leadership depth to support continued expansion across high-growth markets Strong cultural compatibility ensuring smooth integration and sustained franchise momentum Adds Key Talent With Aligned Community Values Source: Company documents
SPFI’s Core Purpose and Values Align Centered on Relationship-Based Business Our Core Purpose is: To use the power of relationships to help people succeed and live better HELP ALL STAKEHOLDERS SUCCEED Employees great benefits and opportunities to grow and make a difference. Customers personalized advice and solutions to achieve their goals. Partners responsive, trusted win-win partnerships enabling both parties to succeed together. Shareholders share in the prosperity and performance of the Bank. THE POWER OF RELATIONSHIPS At SPFI, we build lifelong, trusted relationships so you know you always have someone in your corner that understands you, cares about you, and stands ready to help. LIVE BETTER We want to help everyone live better. At the end of the day, we do what we do to help enhance lives. We create a great place to work, help people achieve their goals, and invest generously in our communities because there’s nothing more rewarding than helping people succeed and live better. 23
Appendix 24
Non-GAAP Financial Measures 25 Source: Company documents $ in thousands, except per share data For the quarter ended June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Pre-tax, pre-provision income Net income $ 18,992 $ 14,545 $ 15,254 $ 16,318 $ 14,605 Income tax expense 5,286 3,816 3,832 4,342 4,020 Provision for credit losses 350 260 1,775 500 2,500 Pre-tax, pre-provision income $ 24,628 $ 18,621 $ 20,861 $ 21,160 $ 21,125 As of June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Tangible common equity Total common stockholders’ equity $ 629,765 $ 504,939 $ $ 493,837 $ $ 477,802 $ $ 454,074 Less: goodwill and other intangibles (72,715) (20,327) (20,448) (20,580) (20,732) Tangible common equity $ 557,050 $ 484,612 $ $ 473,389 $ $ 457,222 $ $ 433,342 Tangible assets Total assets $ 5,391,206 $ 4,646,374 $ $ 4,480,500 $ $ 4,479,437 $ $ 4,363,674 Less: goodwill and other intangibles (72,715) (20,327) (20,448) (20,580) (20,732) Tangible assets $ 5,318,491 $ 4,626,047 $ $ 4,460,052 $ $ 4,458,857 $ $ 4,342,942 Shares outstanding 18,839,105 16,342,219 16,293,577 16,247,839 16,230,475 Total stockholders’ equity to total assets 11.68% 10.87% 11.02% 10.67% 10.41% Tangible common equity to tangible assets 10.47% 10.48% 10.61% 10.25% 9.98% Book value per share $ 33.43 $ 30.90 $ 30.31 $ 29.41 $ 27.98 Tangible book value per share $ 29.57 $ 29.65 $ 29.05 $ 28.14 $ 26.70