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.
Net income for Q4 2024 was $16.5 million, up from $10.3 million in Q4 2023.
Diluted earnings per share for Q4 2024 was $0.96, compared to $0.61 in Q4 2023.
Net interest margin was 3.75% for Q4 2024, compared to 3.52% for Q4 2023.
Loans held for investment increased to $3.06 billion as of December 31, 2024, up from $3.01 billion as of December 31, 2023.
South Plains expects to deliver low to mid-single digit loan growth for the full year 2025 and anticipates deposit pricing to fall across its markets, contributing to margin expansion.
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