SPFI
South Plains Financial, Inc.40.90
-0.21-0.51%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
664.54MP/E (TTM)
11.65Basic EPS (TTM)
3.51Dividend Yield
0.01%Recent Filings
8-K
10-Q
Q3 FY2025 results
South Plains Financial's Q3 2025 results showed net income climbing to $16.3 million, or $0.96 diluted EPS, up 46% y/y from $11.2 million ($0.66), while YTD net income hit $43.2 million ($2.55), a 30% y/y gain from $33.2 million ($1.96); diluted shares averaged 16.99 million, reconciling cleanly with EPS. Net interest income surged 15% y/y to $43.0 million on higher loan yields (6.92% vs 6.68%) and lower deposit costs (2.87% vs 3.36%), boosting the margin to 4.05% from 3.65%, though securities income dipped amid rate shifts. Noninterest income edged up 5% y/y to $11.2 million, driven by mortgage banking gains from milder servicing adjustments, while expenses held steady at $33.0 million; provision for credit losses stayed flat at $0.5 million. Deposits grew 7% q/q to $3.88 billion with $635 million in cash equivalents and no FHLB draws, but subordinated debt fell to $14.1 million after redeeming $50 million in September; free cash flow wasn't disclosed in the 10-Q. Nonaccruals dropped sharply to 0.28% of loans from 0.72% q/q. Yet rising competition for deposits in Texas and New Mexico could pressure margins.
8-K
Strong Q3 earnings growth
South Plains Financial reported Q3 2025 net income of $16.3 million, up from $14.6 million in Q2, driven by net interest income growth to $43.0 million amid lower deposit costs at 210 basis points. Deposits rose 3.8% to $3.88 billion, while loans dipped 1.5% to $3.05 billion due to multi-family payoffs, yet credit quality strengthened with nonperforming assets at 0.26%. The bank redeemed $50 million in subordinated debt, bolstering capital ratios. Growth accelerates next year.
8-K
Quarterly dividend declared
South Plains Financial declared a quarterly cash dividend of $0.16 per share on October 16, 2025, payable November 10 to shareholders of record October 27. This steady payout underscores the bank's solid earnings amid West Texas operations. Dividend consistency bolsters investor confidence. No risks disclosed.
8-K
Redeems $50M subordinated notes
South Plains Financial redeemed its entire $50,000,000 of 4.50% Fixed to Floating Rate Subordinated Notes due 2030 on September 30, 2025, paying 100% of principal plus accrued interest. The move, greenlit by regulators on August 22, 2025, clears long-term debt under the 2020 indenture with UMB Bank. This strengthens the balance sheet. No further details on use of proceeds disclosed.
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