SP Bancorp, Inc. is a holding company for SharePlus Federal Bank (the Bank). The Bank is a federally chartered savings bank. The Bank provides financial services to individuals, families and businesses through its seven banking offices. Four of its branch offices are located in and around its headquarters in Plano, Texas. Additionally, two of its branches are located in Louisville, Kentucky and one is located in Irvine, California. The Bank’s business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in mortgage loans secured by residential real estate, home equity loans and lines of credit, commercial real estate loans, consumer loans (consisting primarily of automobile loans) and commercial business loans. At December 31, 2010, $173.2 million, or 88.3%, of its total loan portfolio was comprised of residential and commercial real estate loans.