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    <div style="text-align: center; font-weight: bold;">As filed with the Securities and Exchange Commission on July 15, 2024</div>
    <div style="text-align: right; font-weight: bold;">Registration No. 333-[&#9679;]</div>
    <div>
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      <div>
        <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
        <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
        <div style="text-align: center;"><br>
        </div>
        <div style="text-align: center;">
          <hr noshade="noshade" align="center" style="height: 2px; width: 30%; color: #54301A; background-color: #54301A; margin-left: auto; margin-right: auto; border: none;"></div>
        <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM S-8</div>
        <div style="text-align: center; font-weight: bold;">REGISTRATION STATEMENT</div>
        <div style="text-align: center; font-weight: bold;">UNDER THE SECURITIES ACT OF 1933</div>
        <div>&#160;</div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; width: 30%; color: #54301A; background-color: #54301A; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div style="text-align: center; font-size: 24pt; font-weight: bold;">SOUTH PLAINS FINANCIAL, INC.</div>
        <div style="text-align: center;">(Exact name of registrant as specified in its charter)</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" id="z24cd64886fd44b9fa5b21f0c92cc2d19" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 49%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;">Texas</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 49%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;">75-2453320</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center;">(State or other jurisdiction</div>
                <div style="text-align: center;">of incorporation or organization)</div>
              </td>
              <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
              <td style="width: 49%; vertical-align: top;">
                <div style="text-align: center;">(I.R.S. Employer</div>
                <div style="text-align: center;">Identification Number)</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;">5219 City Bank Parkway</div>
                <div style="text-align: center; font-weight: bold;">Lubbock, Texas</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 49%; vertical-align: bottom;">
                <div style="text-align: center; font-weight: bold;">79407</div>
              </td>
            </tr>
            <tr>
              <td style="width: 49%; vertical-align: bottom;">
                <div style="text-align: center;">(Address of Principal Executive Offices)</div>
              </td>
              <td style="width: 2%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 49%; vertical-align: bottom;">
                <div style="text-align: center;">(Zip Code)</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: center;"><font style="font-weight: bold;">South Plains Financial, Inc. 2023 Employee Stock Purchase Plan</font></div>
        <div style="text-align: center;">(Full title of the plans)</div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">Curtis C. Griffith</div>
        <div style="text-align: center; font-weight: bold;">Chairman and Chief Executive Officer</div>
        <div style="text-align: center; font-weight: bold;">South Plains Financial, Inc.</div>
        <div style="text-align: center; font-weight: bold;">5219 City Bank Parkway</div>
        <div style="text-align: center; font-weight: bold;">Lubbock, Texas 79407</div>
        <div style="text-align: center;">(Name and address of agent for service)</div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">(806) 792-7101</div>
        <div style="text-align: center;">(Telephone number, including area code, of agent for service)</div>
        <div style="text-align: center; font-weight: bold;"><br>
          <hr noshade="noshade" align="center" style="height: 2px; width: 30%; color: #54301A; background-color: #54301A; margin-left: auto; margin-right: auto; border: none;">&#160;&#160; Copies to:</div>
        <div style="text-align: center; font-weight: bold;">
          <div style="margin-right: 4pt; margin-left: 2pt; font-weight: bold;">Peter G. Weinstock</div>
          <div style="margin-right: 4pt; margin-left: 2pt; font-weight: bold;">Heather A. Eastep</div>
          <div style="margin-right: 4pt; margin-left: 2pt; font-weight: bold;">Hunton Andrews Kurth LLP</div>
          <div style="margin-right: 4pt; margin-left: 2pt; font-weight: bold;">1445 Ross Avenue, Suite 3700</div>
          <div style="margin-right: 4pt; margin-left: 2pt; font-weight: bold;">Dallas, Texas 75202</div>
          <div style="margin-right: 4pt; margin-left: 2pt; font-weight: bold;">(214) 979-3000</div>
          <div style="margin-right: 4pt; margin-left: 2pt; font-weight: bold;">(214) 880-0011 (facsimile)</div>
          <div style="margin-right: 4pt; margin-left: 2pt; font-weight: bold;"> <br>
          </div>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; width: 30%; color: #54301A; background-color: #54301A; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221;
          &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" id="z498f27b81f4d4577a22431fc203d08f8" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 25%; vertical-align: bottom;">
                <div>Large accelerated filer</div>
              </td>
              <td style="width: 25%; vertical-align: bottom;">
                <div>&#9744;</div>
              </td>
              <td style="width: 24.54%; vertical-align: bottom;">
                <div>Accelerated filer</div>
              </td>
              <td style="width: 25%; vertical-align: bottom;">
                <div>&#9745;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top;">
                <div>Non-accelerated filer</div>
              </td>
              <td style="width: 25%; vertical-align: top;">
                <div>&#9744;</div>
              </td>
              <td style="width: 24.54%; vertical-align: top;">
                <div>Smaller reporting company</div>
              </td>
              <td style="width: 25%; vertical-align: top;">
                <div>&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 25%; vertical-align: top;" rowspan="1">&#160;</td>
              <td style="width: 25%; vertical-align: top;" rowspan="1"><br>
              </td>
              <td style="width: 24.54%; vertical-align: top;" rowspan="1">
                <div>Emerging growth company</div>
              </td>
              <td style="width: 25%; vertical-align: top;" rowspan="1">&#9745;</td>
            </tr>

        </table>
        <div> <br>
        </div>
        <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the
          Securities Act. &#9744;</div>
        <div><br>
        </div>
        <div>
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        </div>
        <div style="text-align: center; color: #000000; font-weight: bold;">EXPLANATORY NOTE</div>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; color: #000000;">This Registration Statement on Form S-8 (this &#8220;Registration Statement&#8221;) is being filed by South Plains Financial, Inc., a Texas corporation (the &#8220;Registrant&#8221;), relating to
          1,000,000 shares of the Registrant&#8217;s common stock, par value $1.00 per share (the &#8220;Common Stock&#8221;), issuable under the South Plains Financial, Inc. 2023 Employee Stock Purchase Plan (the &#8220;Plan&#8221;). The Plan was approved by vote of the shareholders
          of the Registrant at the 2023 annual meeting of shareholders of the Registrant held on May 16, 2023. This Registration Statement is being filed to register the shares of Common Stock issuable under the Plan.</div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">PART I</div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</div>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 36pt; color: #000000;">The Registrant will send or give to all participants in the Plan document(s) containing the information required in Part I of Form S-8, as specified in Rule 428(b)(1) promulgated
          by the U.S. Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;). In accordance with Rule 428(b)(2), the Registrant has not filed such document(s) with the Commission, but such
          document(s) (along with the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II hereof) shall constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.&#160; The
          Registrant shall make available, without charge, upon written or oral request, additional copies of documents required to be delivered to participants pursuant to Rule 428(b).</div>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;">PART II</div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</div>
        <div>&#160;</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z29528ebc91284cd99fcd4add745aafb4" class="DSPFListTable">

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                <td style="text-align: right; vertical-align: top; width: 36pt;">
                  <div style="text-align: justify;"><font style="font-weight: bold;">Item 3.</font></div>
                </td>
                <td style="text-align: left; vertical-align: top; width: auto;">
                  <div style="text-align: justify;"><font style="font-weight: bold;">Incorporation of Documents by Reference.</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 36pt;">Except to the extent that information is deemed furnished and not filed pursuant to applicable securities laws and regulations, the Registrant incorporates by reference in this Registration
          Statement the following documents and information previously filed with the Commission, which shall be deemed a part hereof:</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z884b334499ec456ca9463e078c3f5123" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <td style="width: 36pt;">&#160;</td>
              <td style="width: 18pt; vertical-align: top;">(1)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The Registrant&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Commission on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124013519/ef20015269_10k.htm">March 15,
                    2024;</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="zb6ce94a76ee14983a1b6cd5dd7c3011c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">(2)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><font style="color: #000000;">The information in the </font>Definitive Proxy Statement<font style="color: rgb(0, 0, 0);"> for the Registrant&#8217;s 2024 Annual Meeting of Shareholders filed with the Commission on </font><a href="https://www.sec.gov/Archives/edgar/data/1163668/000114036124018633/ny20019245x2_def14a.htm">April 8, 2024</a><font style="color: rgb(0, 0, 0);"> that is incorporated by reference into the Registrant&#8217;s Annual Report on </font>Form
                  10-K<font style="color: rgb(0, 0, 0);"> for the fiscal year ended December 31, 2023;</font></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z947d3ee4fb374246acf3e92e2dbe6062" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">(3)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><font style="color: #000000;"> The Registrant&#8217;s Quarterly Report on </font>Form 10-Q for the quarter ended March 31, 2024<font style="color: #000000;">, filed with the Commission on </font><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124024557/ef20026307_10q.htm">May 6, 2024</a><font style="color: #000000;">;</font></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z6a62592e3f66461182a1664790a3e97b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">(4)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The Registrant&#8217;s Current Reports on Form 8-K as filed with the Commission on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124002746/ef20019151_8k.htm">January 18, 2024</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124003974/ef20019822_8k.htm">January 26, 2024,</a> <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124009525/ef20022460_8k.htm">February
                    26, 2024</a><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124009525/ef20022460_8k.htm">,</a> <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124020532/ef20027231_8k.htm">April 18,
                    2024</a><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124020532/ef20027231_8k.htm">,</a> <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124022078/ef20027709_8k.htm">April 25, 2024</a>
                  and <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1163668/000114036124026474/ef20029363_8k.htm">May 16, 2024</a> (in each case, other than information furnished under Item 2.02 and Item 7.01 thereunder); and</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="zcb80f9dabd9b4277b7ef12db358964bd" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">(5)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The description of the Common Stock under the caption &#8220;Description of Capital Stock&#8221; contained in the prospectus forming part of the Registrant&#8217;s Form S-1 Registration Statement, which description has been incorporated by reference in
                  Item 1 of the Registrant&#8217;s Registration Statement on Form 8-A (File No. 001-38895), filed pursuant to Section 12 of the Exchange Act, on <a href="https://www.sec.gov/Archives/edgar/data/1163668/000114036119008441/nc10001583x1_8a12b.htm">May



                    6, 2019,</a> including any amendment or report filed for the purpose of updating such description.</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 36pt;">Except to the extent that information is deemed furnished and not filed pursuant to securities laws and regulations, all documents filed with the Commission by the Registrant pursuant to Sections
          13(a), 13(c), 14 or 15(d) of the Exchange Act and all reports on Form 8-K subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all
          securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.</div>
        <div>&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">Any statement contained herein or in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this Registration
          Statement to the extent that a statement contained herein or in any subsequently filed document that also is, or is deemed to be, incorporated by reference herein modifies or supersedes such statement.&#160; Any such statement so modified or
          superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</div>
        <div>&#160;</div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zb2d46d73ad2b48e89cfd7f5c25cd83a0" class="DSPFListTable">

              <tr style="vertical-align: top;">
                <td style="text-align: right; vertical-align: top; width: 9pt;">
                  <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-weight: bold;">Item 4.</div>
                </td>
                <td style="text-align: left; vertical-align: top; width: auto;">
                  <div style="text-indent: -36pt; margin-left: 36pt; font-weight: bold;">Description of Securities.</div>
                </td>
              </tr>

          </table>
        </div>
        <div> <br>
        </div>
        <div style="text-indent: 36pt;">Not applicable.</div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z53e2e2bfeaec4b30b6b83015495101b1" class="DSPFListTable">

              <tr style="vertical-align: top;">
                <td style="text-align: right; vertical-align: top; width: 9pt;">
                  <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-weight: bold;">Item 5.</div>
                </td>
                <td style="text-align: left; vertical-align: top; width: auto;">
                  <div style="text-indent: -36pt; margin-left: 36pt; font-weight: bold;">Interests of Named Experts and Counsel.</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div style="text-indent: 36pt;">Not applicable.</div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z618a439b43024b40b1456b04a367fe8d" class="DSPFListTable">

              <tr style="vertical-align: top;">
                <td style="text-align: right; vertical-align: top; width: 9pt;">
                  <div style="text-align: left; text-indent: -36pt; margin-left: 36pt; font-weight: bold;">Item 6.</div>
                </td>
                <td style="text-align: left; vertical-align: top; width: auto;">
                  <div style="text-indent: -36pt; margin-left: 36pt; font-weight: bold;">Indemnification of Directors and Officers.</div>
                </td>
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        </div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">The Texas Business Organizations Code (&#8220;TBOC&#8221;) permits a Texas corporation to limit in its charter the liability of the corporation&#8217;s directors to the corporation or its shareholders for conduct
          in the performance of such director&#8217;s duties. However, Texas law does not permit any limitation of liability of a director who is found liable to the corporation or is found liable because the director improperly received a personal benefit for:
          (1) breaching a duty of loyalty owed to the corporation; (2) failing to act in good faith that constitutes a breach of a duty owed by the person to the corporation; or (3) engaging in willful or intentional misconduct in the performance of a
          director&#8217;s duty to the corporation. The Registrant&#8217;s amended and restated certificate of formation provides that a director of the Registrant will not be liable to the Registrant or its shareholders to the fullest extent permitted by Texas law.</div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">Sections 8.101 and 8.103 of the TBOC provide that a Texas corporation may indemnify a person who was, is, or is threatened to be a named defendant or respondent in a proceeding because the person
          is or was a director only if a determination is made that such indemnification is permissible under the TBOC: (1) by a majority vote of the directors who at the time of the vote are disinterested and independent, regardless of whether such
          directors constitute a quorum; (2) by a majority vote of a board committee designated by a majority of disinterested and independent directors and consisting solely of disinterested and independent directors; (3) by special legal counsel selected
          by the board of directors or a committee of the board of directors as set forth in (1) or (2); (4) by the shareholders in a vote that excludes the shares held by directors who are not disinterested and independent; or, (5) by unanimous vote of
          the shareholders. The power to indemnify applies only if such person acted in good faith and, in the case of conduct in the person&#8217;s official capacity as a director, in a manner he reasonably believed to be in the best interest of the
          corporation, and, in all other cases, that the person&#8217;s conduct was not opposed to the best interest of the corporation, and with respect to any criminal action or proceeding, that such person had no reasonable cause to believe his conduct was
          unlawful.</div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">Section 8.104 of the TBOC provides that a Texas corporation may pay or reimburse, in advance of the final disposition of the proceeding, reasonable expenses incurred by a present director who
          was, is, or is threatened to be made a named defendant or respondent in a proceeding after the corporation receives a written affirmation by the director of his good faith belief that he has met the standard of conduct necessary for
          indemnification under Section 8.101 of the TBOC and a written undertaking by or on behalf of the director to repay the amount paid or reimbursed if it is ultimately determined that he has not met that standard or if it is ultimately determined
          that indemnification of the director is not otherwise permitted under the TBOC. Section 8.105 of the TBOC also provides that reasonable expenses incurred by a former director or officer, or a present or former employee or agent of the
          corporation, who was, is, or is threatened to be made a named defendant or respondent in a proceeding may be paid or reimbursed by the corporation, in advance of the final disposition of the action, as the corporation considers appropriate.</div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">Section 8.105 of the TBOC provides that a corporation may indemnify and advance expenses to a person who is not a director, including an officer, employee, or agent of the corporation as provided
          by: (1) the corporation&#8217;s governing documents; (2) an action by the corporation&#8217;s governing authority; (3) resolution by the shareholders; (4) contract; or (5) common law. As consistent with Section 8.105 of the TBOC, a corporation may indemnify
          and advance expenses to persons who are not directors to the same extent that a corporation may indemnify and advance expenses to directors.</div>
        <div><br>
        </div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">The Registrant&#8217;s amended and restated certificate of formation provides that, to the fullest extent and under the circumstances permitted the by Chapter 8 of the TBOC, (1) the Registrant must
          indemnify and advance expenses to directors and officers, and (2) the Registrant may purchase and maintain insurance on behalf of our directors and officers.</div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">The Registrant also maintains directors&#8217; and officers&#8217; liability insurance.</div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">The form of Underwriting Agreement filed as Exhibit 1.1 to the Form S-1 Registration Statement obligates the underwriters to indemnify our directors, officers and controlling persons under
          limited circumstances against certain liabilities under the Securities Act.</div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z374730f0c9af4befbe597ab649a412cf" class="DSPFListTable">

              <tr style="vertical-align: top;">
                <td style="text-align: right; vertical-align: top; width: 36pt;">
                  <div style="text-align: left; font-weight: bold;">Item 7.</div>
                </td>
                <td style="text-align: left; vertical-align: top; width: auto;">
                  <div style="font-weight: bold;">Exemption from Registration Claimed.</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div style="text-indent: 36pt;">Not applicable.</div>
        <div><br>
        </div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="z8ae97809f37042169f12b004f51a8688" class="DSPFListTable">

              <tr style="vertical-align: top;">
                <td style="text-align: right; vertical-align: top; width: 36pt;">
                  <div style="text-align: left; font-weight: bold;">Item 8.</div>
                </td>
                <td style="text-align: left; vertical-align: top; width: auto;">
                  <div style="font-weight: bold;">Exhibits.</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div style="text-align: justify; text-indent: 36pt;">The exhibits to this Registration Statement are listed in the Exhibit Index that immediately precedes such exhibits and are incorporated herein by reference.</div>
        <div>&#160;</div>
        <div style="text-align: center; font-weight: bold;">EXHIBIT INDEX</div>
        <div>&#160;</div>
        <div style="text-indent: 36pt;"><u>Exhibit No.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Description</u></div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z8faab45dac544fbf9de1b48a2aad7c97" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;">&#160;</td>
              <td style="width: 72pt; vertical-align: top;">4.1*</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="https://www.sec.gov/Archives/edgar/data/1163668/000114036119007042/s002614x4_ex3-1.htm">Amended and Restated Certificate of Formation of South Plains Financial, Inc. (incorporated by reference to Exhibit 3.1 to the
                    Registrant&#8217;s Form 10-K filed on April 12, 2019, File No. 333-230851).</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z4da15c7da6624cb0b759f28bdc4e6af0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">4.2*</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="https://www.sec.gov/Archives/edgar/data/1163668/000114036121036078/brhc10030259_ex3-1.htm">Second Amended and Restated Bylaws of South Plains Financial, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Form
                    8-K filed on November 1, 2021, File No. 001-38895).</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="zadb8e244808a4741bf5e757d6d4c283a" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">5.1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="ef20032298_ex5-1.htm">Opinion of Hunton Andrews Kurth LLP.</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z01e30ae50ee54c27ba4b8af05d654ef4" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">23.1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="ef20032298_ex23-1.htm">Consent of Forvis Mazars, LLP.</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z8a9acb8726cf419a8d9652bcf9eb3fff" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">23.2</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="ef20032298_ex23-2.htm">Consent of Weaver and Tidwell, LLP.</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z3ee7848fc9ce43b6b520e140d06b81a6" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">23.3</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="ef20032298_ex5-1.htm">Consent of Hunton Andrews Kurth LLP (included as part of Exhibit 5.1).</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z1d56e9aec0634610b4a4395c140b8ad7" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">24.1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="#POWEROFATTORNEY">Powers of Attorney (included on the signature page of this Registration Statement).</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z60e58a0907714443ab90dcd8edb4478f" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">99.1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="ef20032298_ex99-1.htm">South Plains Financial, Inc. 2023 Employee Stock Purchase Plan.</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z349dffb6af434e4f8a517c278f1c86fb" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">99.2</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="ef20032298_ex99-2.htm">Amendment No. 1 to South Plains Financial, Inc. 2023 Employee Stock Purchase Plan.</a></div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="zb2ca915c460c4511a8d762cf1824fa47" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt;"><br>
              </td>
              <td style="width: 72pt; vertical-align: top;">107.1</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div><a href="ef20032298_ex107-1.htm">Filing Fee Table.</a></div>
              </td>
            </tr>

        </table>
        <div> <br>
        </div>
        <div>
          <hr noshade="noshade" align="left" style="background-color: rgb(0, 0, 0); border-width: medium; border-style: none; border-color: -moz-use-text-color; margin: 0px auto 0px 36pt; height: 2px; width: 20%; color: rgb(0, 0, 0);"></div>
        <div> <br>
        </div>
        <div> </div>
        <div style="text-align: justify; text-indent: -72pt; margin-left: 108pt;">*&#160; Incorporated herein by reference as indicated.</div>
        <div>&#160;</div>
        <div>
          <div>
            <div>
              <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%;" id="zaebdd470dffd41c59a107df60f5dc3d9" class="DSPFListTable">

                  <tr style="vertical-align: top;">
                    <td style="text-align: right; vertical-align: top; width: 36pt;">
                      <div style="text-align: left; font-weight: bold;"><font style="font-weight: bold;">Item 9.</font></div>
                    </td>
                    <td style="text-align: left; vertical-align: top; width: auto;">
                      <div style="font-weight: bold;">Undertakings.</div>
                    </td>
                  </tr>

              </table>
            </div>
          </div>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" id="z4b069ab1ef24423089bd8981277965d8" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 18pt;">&#160;</td>
              <td style="width: 18pt; vertical-align: top;">(a)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The undersigned Registrant hereby undertakes:</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" id="z8ea4af72b05c4f2eb0d934cf99bd7ed0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 54pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">1.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z93e1c924f546474ea349286ed296b99e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 99pt;">&#160;</td>
              <td style="width: 18pt; vertical-align: top;">i.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To include any prospectus required by Section 10(a)(3) of the Securities Act;</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z802e02e653ee4309ae9c21f493a4df4e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 99pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">ii.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental
                  change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was
                  registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
                  price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective Registration Statement;</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z3c998b2a3f7441388ba63cadf3800cc7" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 99pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">iii.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 18pt; margin-left: 72pt;"><font style="font-style: italic;">provided, however</font>, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in
          a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
          reference in this Registration Statement.</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="ze450984fd7fb41de813ec8b1dd111f45" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 54pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">2.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
                  securities at that time shall be deemed to be the initial bona fide offering thereof.</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z3140584fcec14df3a0e82f21c45b475b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 54pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">3.</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z6de88c9e02d14a9e86d9c574b3abe465" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 18pt;">&#160;</td>
              <td style="width: 18pt; vertical-align: top;">(b)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and,
                  where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement
                  relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" id="z47433add30cb4cf79876077cce3df2aa" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 18pt;"><br>
              </td>
              <td style="width: 18pt; vertical-align: top;">(h)</td>
              <td style="width: auto; vertical-align: top; text-align: justify;">
                <div>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been
                  advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
                  than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
                  controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
                  question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</div>
              </td>
            </tr>

        </table>
        <div>&#160;</div>
        <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div class="BRPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
        </div>
        <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 36pt;">Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly
          caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Lubbock, State of Texas, on July 15, 2024.</div>
        <div>&#160;</div>
        <table cellspacing="0" cellpadding="0" border="0" id="zc21cec72347d4a61a20fc639cd966235" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

            <tr>
              <td style="width: 50%; vertical-align: bottom;" colspan="1" rowspan="1">&#160;</td>
              <td style="vertical-align: bottom;" rowspan="1" colspan="2">
                <div style="font-weight: bold;">SOUTH PLAINS FINANCIAL, INC.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: bottom;" colspan="1" rowspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: bottom;" rowspan="1">&#160;</td>
              <td style="width: 47%; vertical-align: bottom;" rowspan="1">&#160;</td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: bottom;">
                <div>By:</div>
              </td>
              <td style="width: 47%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                <div>/s/ Curtis C. Griffith </div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: bottom;">&#160;</td>
              <td style="width: 47%; vertical-align: bottom;">
                <div>Curtis C. Griffith,</div>
              </td>
            </tr>
            <tr>
              <td style="width: 50%; vertical-align: bottom;" colspan="1">&#160;</td>
              <td style="width: 3%; vertical-align: bottom;">&#160;</td>
              <td style="width: 47%; vertical-align: bottom;">
                <div>Chairman and Chief Executive Officer</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="text-align: center; font-weight: bold;"><a name="POWEROFATTORNEY"><!--Anchor--></a>POWER OF ATTORNEY</div>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 36pt;">KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Curtis C. Griffith and Cory T. Newsom, and each of them (with full power to each of
          them to act alone), his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments
          (including, without limitation, post-effective amendments) to this Registration Statement on Form S-8 and to file the same with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting
          unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person, hereby
          ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof. This power of attorney may be executed in counterparts.</div>
        <div>&#160;</div>
        <div style="text-align: justify; text-indent: 36pt;">Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities indicated on July 15, 2024.</div>
        <div>&#160;</div>
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                <div>/s/ Cory T. Newsom </div>
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As filed with the Securities and Exchange Commission on July 15, 2024
Registration No. 333-[●]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
SOUTH PLAINS FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Texas
75-2453320
(State or other jurisdiction
of incorporation or organization)
(I.R.S. Employer
Identification Number)
5219 City Bank Parkway
Lubbock, Texas
79407
(Address of Principal Executive Offices)
(Zip Code)
South Plains Financial, Inc. 2023 Employee Stock Purchase Plan
(Full title of the plans)
Curtis C. Griffith
Chairman and Chief Executive Officer
South Plains Financial, Inc.
5219 City Bank Parkway
Lubbock, Texas 79407
(Name and address of agent for service)
(806) 792-7101
(Telephone number, including area code, of agent for service)
Copies to:
Peter G. Weinstock
Heather A. Eastep
Hunton Andrews Kurth LLP
1445 Ross Avenue, Suite 3700
Dallas, Texas 75202
(214) 979-3000
(214) 880-0011 (facsimile)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer,"
          "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☐
Accelerated filer
☑
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☑
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the
          Securities Act. ☐
EXPLANATORY NOTE
This Registration Statement on Form S-8 (this "Registration Statement") is being filed by South Plains Financial, Inc., a Texas corporation (the "Registrant"), relating to
          1,000,000 shares of the Registrant's common stock, par value $1.00 per share (the "Common Stock"), issuable under the South Plains Financial, Inc. 2023 Employee Stock Purchase Plan (the "Plan"). The Plan was approved by vote of the shareholders
          of the Registrant at the 2023 annual meeting of shareholders of the Registrant held on May 16, 2023. This Registration Statement is being filed to register the shares of Common Stock issuable under the Plan.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The Registrant will send or give to all participants in the Plan document(s) containing the information required in Part I of Form S-8, as specified in Rule 428(b)(1) promulgated
          by the U.S. Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"). In accordance with Rule 428(b)(2), the Registrant has not filed such document(s) with the Commission, but such
          document(s) (along with the documents incorporated by reference into this Registration Statement pursuant to Item 3 of Part II hereof) shall constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.  The
          Registrant shall make available, without charge, upon written or oral request, additional copies of documents required to be delivered to participants pursuant to Rule 428(b).
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
Except to the extent that information is deemed furnished and not filed pursuant to applicable securities laws and regulations, the Registrant incorporates by reference in this Registration
          Statement the following documents and information previously filed with the Commission, which shall be deemed a part hereof:
(1)
The Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Commission on
March 15,
                    2024;
(2)
The information in the
Definitive Proxy Statement
for the Registrant's 2024 Annual Meeting of Shareholders filed with the Commission on
April 8, 2024
that is incorporated by reference into the Registrant's Annual Report on
Form
                  10-K
for the fiscal year ended December 31, 2023;
(3)
The Registrant's Quarterly Report on
Form 10-Q for the quarter ended March 31, 2024
, filed with the Commission on
May 6, 2024
;
(4)
The Registrant's Current Reports on Form 8-K as filed with the Commission on
January 18, 2024
,
January 26, 2024,
February
                    26, 2024
,
April 18,
                    2024
,
April 25, 2024
and
May 16, 2024
(in each case, other than information furnished under Item 2.02 and Item 7.01 thereunder); and
(5)
The description of the Common Stock under the caption "Description of Capital Stock" contained in the prospectus forming part of the Registrant's Form S-1 Registration Statement, which description has been incorporated by reference in
                  Item 1 of the Registrant's Registration Statement on Form 8-A (File No. 001-38895), filed pursuant to Section 12 of the Exchange Act, on
May

                    6, 2019,
including any amendment or report filed for the purpose of updating such description.
Except to the extent that information is deemed furnished and not filed pursuant to securities laws and regulations, all documents filed with the Commission by the Registrant pursuant to Sections
          13(a), 13(c), 14 or 15(d) of the Exchange Act and all reports on Form 8-K subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment to this Registration Statement that indicates that all
          securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained herein or in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this Registration
          Statement to the extent that a statement contained herein or in any subsequently filed document that also is, or is deemed to be, incorporated by reference herein modifies or supersedes such statement.  Any such statement so modified or
          superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.
Item 4.
Description of Securities.
Not applicable.
Item 5.
Interests of Named Experts and Counsel.
Not applicable.
Item 6.
Indemnification of Directors and Officers.
The Texas Business Organizations Code ("TBOC") permits a Texas corporation to limit in its charter the liability of the corporation's directors to the corporation or its shareholders for conduct
          in the performance of such director's duties. However, Texas law does not permit any limitation of liability of a director who is found liable to the corporation or is found liable because the director improperly received a personal benefit for:
          (1) breaching a duty of loyalty owed to the corporation; (2) failing to act in good faith that constitutes a breach of a duty owed by the person to the corporation; or (3) engaging in willful or intentional misconduct in the performance of a
          director's duty to the corporation. The Registrant's amended and restated certificate of formation provides that a director of the Registrant will not be liable to the Registrant or its shareholders to the fullest extent permitted by Texas law.
Sections 8.101 and 8.103 of the TBOC provide that a Texas corporation may indemnify a person who was, is, or is threatened to be a named defendant or respondent in a proceeding because the person
          is or was a director only if a determination is made that such indemnification is permissible under the TBOC: (1) by a majority vote of the directors who at the time of the vote are disinterested and independent, regardless of whether such
          directors constitute a quorum; (2) by a majority vote of a board committee designated by a majority of disinterested and independent directors and consisting solely of disinterested and independent directors; (3) by special legal counsel selected
          by the board of directors or a committee of the board of directors as set forth in (1) or (2); (4) by the shareholders in a vote that excludes the shares held by directors who are not disinterested and independent; or, (5) by unanimous vote of
          the shareholders. The power to indemnify applies only if such person acted in good faith and, in the case of conduct in the person's official capacity as a director, in a manner he reasonably believed to be in the best interest of the
          corporation, and, in all other cases, that the person's conduct was not opposed to the best interest of the corporation, and with respect to any criminal action or proceeding, that such person had no reasonable cause to believe his conduct was
          unlawful.
Section 8.104 of the TBOC provides that a Texas corporation may pay or reimburse, in advance of the final disposition of the proceeding, reasonable expenses incurred by a present director who
          was, is, or is threatened to be made a named defendant or respondent in a proceeding after the corporation receives a written affirmation by the director of his good faith belief that he has met the standard of conduct necessary for
          indemnification under Section 8.101 of the TBOC and a written undertaking by or on behalf of the director to repay the amount paid or reimbursed if it is ultimately determined that he has not met that standard or if it is ultimately determined
          that indemnification of the director is not otherwise permitted under the TBOC. Section 8.105 of the TBOC also provides that reasonable expenses incurred by a former director or officer, or a present or former employee or agent of the
          corporation, who was, is, or is threatened to be made a named defendant or respondent in a proceeding may be paid or reimbursed by the corporation, in advance of the final disposition of the action, as the corporation considers appropriate.
Section 8.105 of the TBOC provides that a corporation may indemnify and advance expenses to a person who is not a director, including an officer, employee, or agent of the corporation as provided
          by: (1) the corporation's governing documents; (2) an action by the corporation's governing authority; (3) resolution by the shareholders; (4) contract; or (5) common law. As consistent with Section 8.105 of the TBOC, a corporation may indemnify
          and advance expenses to persons who are not directors to the same extent that a corporation may indemnify and advance expenses to directors.
The Registrant's amended and restated certificate of formation provides that, to the fullest extent and under the circumstances permitted the by Chapter 8 of the TBOC, (1) the Registrant must
          indemnify and advance expenses to directors and officers, and (2) the Registrant may purchase and maintain insurance on behalf of our directors and officers.
The Registrant also maintains directors' and officers' liability insurance.
The form of Underwriting Agreement filed as Exhibit 1.1 to the Form S-1 Registration Statement obligates the underwriters to indemnify our directors, officers and controlling persons under
          limited circumstances against certain liabilities under the Securities Act.
Item 7.
Exemption from Registration Claimed.
Not applicable.
Item 8.
Exhibits.
The exhibits to this Registration Statement are listed in the Exhibit Index that immediately precedes such exhibits and are incorporated herein by reference.
EXHIBIT INDEX
Exhibit No.
Description
4.1*
Amended and Restated Certificate of Formation of South Plains Financial, Inc. (incorporated by reference to Exhibit 3.1 to the
                    Registrant's Form 10-K filed on April 12, 2019, File No. 333-230851).
4.2*
Second Amended and Restated Bylaws of South Plains Financial, Inc. (incorporated by reference to Exhibit 3.1 to the Registrant's Form
                    8-K filed on November 1, 2021, File No. 001-38895).
5.1
Opinion of Hunton Andrews Kurth LLP.
23.1
Consent of Forvis Mazars, LLP.
23.2
Consent of Weaver and Tidwell, LLP.
23.3
Consent of Hunton Andrews Kurth LLP (included as part of Exhibit 5.1).
24.1
Powers of Attorney (included on the signature page of this Registration Statement).
99.1
South Plains Financial, Inc. 2023 Employee Stock Purchase Plan.
99.2
Amendment No. 1 to South Plains Financial, Inc. 2023 Employee Stock Purchase Plan.
107.1
Filing Fee Table.
*  Incorporated herein by reference as indicated.
Item 9.
Undertakings.
(a)
The undersigned Registrant hereby undertakes:
1.
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
i.
To include any prospectus required by Section 10(a)(3) of the Securities Act;
ii.
To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental
                  change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was
                  registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
                  price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective Registration Statement;
iii.
To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;
provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the information required to be included in
          a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
          reference in this Registration Statement.
2.
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such
                  securities at that time shall be deemed to be the initial bona fide offering thereof.
3.
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and,
                  where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement
                  relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(h)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been
                  advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
                  than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
                  controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
                  question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly
          caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Lubbock, State of Texas, on July 15, 2024.
SOUTH PLAINS FINANCIAL, INC.
By:
/s/ Curtis C. Griffith
Curtis C. Griffith,
Chairman and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Curtis C. Griffith and Cory T. Newsom, and each of them (with full power to each of
          them to act alone), his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments
          (including, without limitation, post-effective amendments) to this Registration Statement on Form S-8 and to file the same with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting
          unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person, hereby
          ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof. This power of attorney may be executed in counterparts.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities indicated on July 15, 2024.
Signature
Title
/s/ Curtis C. Griffith
Director (Chairman); Chief Executive Officer (principal executive officer)
Curtis C. Griffith
/s/ Cory T. Newsom
Director and President
Cory T. Newsom
/s/ Steven B. Crockett
Chief Financial Officer and Treasurer (principal financial and accounting officer)
Steven B. Crockett
/s/ Richard D. Campbell
Director
Richard D. Campbell
/s/ LaDana R. Washburn
Director
LaDana R. Washburn
/s/ Noe G. Valles
Director
Noe G. Valles
/s/ Kyle R. Wargo
Director
Kyle R. Wargo