South Plains Financial

Oct 24, 2023

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Sep 30, 2023

South Plains Financial Q3 2023 Earnings Report

South Plains Financial reported third quarter results with net income of $13.5 million and diluted earnings per share of $0.78.

Key Takeaways

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%.

Net income for Q3 2023 was $13.5 million, down from $29.7 million in Q2 2023 and $15.5 million in Q3 2022.

Diluted earnings per share for Q3 2023 was $0.78, compared to $1.71 for Q2 2023 and $0.86 for Q3 2022.

Deposits grew to $3.62 billion during Q3 2023, a 1.3% increase from June 30, 2023.

Net interest margin was 3.52% for Q3 2023, compared to 3.65% for Q2 2023.