SharePlus Federal Bank Promotes Suzanne Salls to Executive Vice President and Chief Financial Officer

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PLANO, Texas, Feb. 4, 2013 (GLOBE NEWSWIRE) -- Jeff Weaver, President and CEO of SP Bancorp, Inc. (Nasdaq:SPBC) (the "Company"), the holding company for SharePlus Federal Bank (the "Bank"), today announced the promotion of Suzanne Salls to Executive Vice President and Chief Financial Officer.

"I am pleased to announce Suzy's promotion to Executive Vice President and Chief Financial Officer," said Jeff Weaver, President and CEO. "When Suzy was hired in 2005 to be the CFO of SharePlus, we were a recently converted credit union with about $160 million in assets. Since that time, the Bank has grown over $110 million or 68%, and completed a successful public offering in 2010. Suzy's efforts were critical throughout the IPO process, and she continues to play a strategic role in our pursuit of becoming a top performing community bank. We are extremely proud of Suzy and look forward to her contributions in driving the future success of our organization."

Suzy has more than 20 years of experience as the chief financial officer of community banks, with eight years at SharePlus. She began her career as an auditor with KPMG and later transitioned into banking, serving various accounting and management roles in several Texas community banks. She is a Certified Public Accountant and holds a Bachelor of Business Administration in Accounting from Texas Tech University.

SharePlus Federal Bank is a full service community bank headquartered in Plano, Texas with assets exceeding $280 million. The bank has six locations: three in Dallas-Fort Worth, as well as two in Louisville, Kentucky and one in Irvine, California. SharePlus provides a full range of lending and deposit services to both businesses and families throughout their market areas.

SP Bancorp, Inc. is the holding company for SharePlus Federal Bank. Shares of the common stock of SP Bancorp, Inc. trade on the Nasdaq Capital Market under the ticker symbol "SPBC." The Company maintains a website at that includes information on the Company and the Bank, including the Bank's products and services, branch locations and hours, current Company financial information, and links to Company filings with the Securities and Exchange Commission.

The SP Bancorp, Inc. logo is available at

CONTACT: Jeffrey Weaver, President and CEO 972.931.5311

Source:SP Bancorp, Inc.