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Dec 31, 2022
South Plains Financial Q4 2022 Earnings Report
Financial results reported a decrease in net income and diluted earnings per share compared to the previous quarter and year-ago quarter, while net interest income and loans held for investment experienced growth.
Key Takeaways
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.
Net income for Q4 2022 was $12.6 million, a decrease from both the previous quarter and the same quarter in 2021.
Diluted earnings per share for Q4 2022 was $0.71, also down from Q3 2022 and Q4 2021.
Loans held for investment grew by $57.7 million during Q4 2022.
Average cost of deposits increased to 97 basis points for Q4 2022.
Revenue by Segment
Historical Earnings Impact
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