South Plains Financial in Lubbock, Texas, will end this year with new leadership.
The company said in a press release that Cory Newsom will become its CEO on Dec. 31. Newsom South Plains’ president, will succeed Curtis Griffith, who will retire.
“Our leadership transition has been the result of many years of deliberate planning, and Cory has been instrumental throughout that process,” Griffith said in the release. “He has been leading our day-to-day operations and driving our growth strategy, with a clear focus on disciplined organic loan growth and strategic M&A, including the recent successful acquisition and integration of Bank of Houston.”
Griffith will serve as a consultant to the company after he retires.
In connection with his retirement, the company will buy back 300,000 shares of common stock owned by Griffith at market rates.