South Plains Financial Earnings Reports

South Plains Financial, Inc. delivered strong first quarter results with net income of $12.3 million and diluted earnings per share of $0.72. The company experienced solid deposit growth, healthy margin expansion, and loan growth in line with expectations, while also strengthening its credit quality.

South Plains Financial, Inc. reported a net income of $16.5 million and diluted earnings per share of $0.96 for the fourth quarter of 2024. The company's net interest margin was 3.75%, and return on average assets was 1.53%. Loans held for investment were $3.06 billion and deposits totaled $3.62 billion.

South Plains Financial, Inc. reported net income of $11.2 million for Q3 2024, with diluted earnings per share of $0.66. The company saw an increase in net interest income and remains well-capitalized.

South Plains Financial reported a net income of $11.1 million for Q2 2024, with diluted earnings per share of $0.66. The net interest margin was 3.63%, and the return on average assets was 1.07%.

South Plains Financial, Inc. reported a net income of $10.9 million and diluted earnings per share of $0.64 for the first quarter of 2024. The net interest margin was 3.56%, and the return on average assets was 1.04%.

South Plains Financial, Inc. reported net income of $10.3 million and diluted earnings per share of $0.61 for the fourth quarter of 2023. The company experienced loan growth and maintained strong credit quality, but net interest income and noninterest income decreased compared to the previous quarter. The average cost of deposits increased, and the company continued to repurchase shares.

South Plains Financial reported a net income of $13.5 million for Q3 2023, a decrease compared to both Q2 2023 ($29.7 million) and Q3 2022 ($15.5 million). Diluted earnings per share were $0.78, also down from $1.71 in the previous quarter and $0.86 in the same quarter last year. Deposits grew slightly to $3.62 billion, and the net interest margin was 3.52%.

South Plains Financial reported a strong second quarter in 2023, marked by a significant increase in net income to $29.7 million and diluted earnings per share of $1.71, driven by the gain on sale of Windmark and growth in loans held for investment.

South Plains Financial, Inc. reported a net income of $9.2 million and diluted earnings per share of $0.53 for the first quarter of 2023. Deposits grew to $3.51 billion, and loans held for investment reached $2.79 billion. The company's net interest margin was 3.75%.

South Plains Financial, Inc. reported a net income of $12.6 million and diluted earnings per share of $0.71 for Q4 2022. The company experienced growth in net interest income and loans held for investment, but a decrease in noninterest income primarily due to lower mortgage banking activities revenue.

South Plains Financial reported net income of $15.5 million and diluted earnings per share of $0.86 for the third quarter of 2022. Loan growth was strong at 17.0% annualized, driven by both community and metropolitan markets. The company also repurchased 366 thousand shares of common stock during the quarter.

South Plains Financial, Inc. reported net income of $15.9 million and diluted earnings per share of $0.88 for the second quarter of 2022. Loan portfolio grew 20.8% annualized with strength coming from commercial real estate loans.

South Plains Financial reported a net income of $14.3 million and diluted earnings per share of $0.78 for the first quarter of 2022. The company experienced loan growth and deposit growth, while also seeing a negative provision for loan losses.

South Plains Financial, Inc. reported net income of $14.6 million and diluted earnings per share of $0.79 for the fourth quarter of 2021. The company's average cost of deposits decreased to 23 basis points, and nonperforming assets to total assets were 0.30% at the end of the quarter.

South Plains Financial, Inc. reported a net income of $15.2 million and diluted earnings per share of $0.82 for the third quarter of 2021. The company experienced loan growth and benefited from a strong Texas economy.

South Plains Financial reported a net income of $13.7 million and diluted earnings per share of $0.74 for the second quarter of 2021. The company experienced loan growth of 2.7% compared to the previous quarter and a decrease in the average cost of deposits.

South Plains Financial reported a net income of $15.2 million and diluted earnings per share of $0.82 for the first quarter of 2021. The company saw an increase in noninterest income driven by mortgage banking activities, while also managing to decrease the average cost of deposits.

South Plains Financial, Inc. reported a net income of $15.9 million for the fourth quarter of 2020, with diluted earnings per share of $0.87. The company's total assets reached $3.6 billion by the end of the year, and they issued $50 million of subordinated notes in September 2020.

South Plains Financial, Inc. reported a net income of $16.7 million for the third quarter of 2020, with diluted earnings per share of $0.92. The company experienced strong revenue growth, particularly in mortgage banking activities, and maintained a conservative approach to its loan portfolio and reserves.

South Plains Financial, Inc. reported net income of $5.6 million and diluted earnings per share of $0.31 for the second quarter of 2020. Pre-tax, pre-provision income (non-GAAP) was $20.1 million. The provision for loan losses was $13.1 million, primarily due to management’s expectations regarding the continued economic downturn related to the ongoing COVID-19 pandemic.

South Plains Financial reported a net income of $7.1 million and diluted earnings per share of $0.38 for the first quarter of 2020. The company's performance was influenced by the economic uncertainty related to the COVID-19 pandemic and the drop in energy prices, leading to an increased provision for loan losses.