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.
Net income for the first quarter of 2022 was $14.3 million.
Diluted earnings per share for the first quarter of 2022 was $0.78.
Loans held for investment grew $16.1 million, or 2.6% annualized.
The Company recorded a negative provision for loan losses of $2.1 million in the first quarter of 2022.
South Plains Financial is confident in its outlook for mid to high single digit loan growth for 2022.
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