South Plains Financial Stock Price, News & Analysis

South Plains Financial (NASDAQ:SPFI) reported strong Q2 2025 financial results with net income of $14.6 million, up from $12.3 million in Q1 2025 and $11.1 million in Q2 2024. The company achieved diluted EPS of $0.86, compared to $0.72 in Q1 2025.

Key highlights include net interest margin improvement to 4.07%, a decrease in average deposit costs to 214 basis points, and return on average assets of 1.34%. The bank's loan portfolio grew to $3.10 billion, while deposits stood at $3.74 billion. Asset quality remained strong with the ratio of nonperforming assets to total assets at 0.25%.

The company maintains healthy capital levels with a total risk-based capital ratio of 18.17% and is actively expanding its lending capabilities, particularly in the Dallas market through the recruitment of experienced commercial lenders.

South Plains Financial (NASDAQ:SPFI), the parent company of City Bank, has scheduled its second quarter 2025 earnings release for Wednesday, July 16, 2025, after market close.

The company will host a conference call and webcast at 5:00 p.m. ET on the same day. Investors can join via phone (1-877-407-9716 for domestic, 1-201-493-6779 for international) or through the live webcast on the company's website. A replay will be available until July 30, 2025, through the website or by phone using pin 13754259.

South Plains Financial (NASDAQ:SPFI) reported Q1 2025 financial results with net income of $12.3 million, down from $16.5 million in Q4 2024 but up from $10.9 million in Q1 2024. Diluted EPS was $0.72, compared to $0.96 in Q4 2024 and $0.64 in Q1 2024.

Key metrics include:

• Net interest margin improved to 3.81% from 3.75% in Q4 2024
• Average cost of deposits decreased to 219 basis points from 229 basis points in Q4
• Loans held for investment grew to $3.08 billion, up 2.7% annualized
• Total deposits increased 4.7% to $3.79 billion
• Nonperforming assets to total assets improved to 0.16% from 0.58%

The company repurchased 250,000 shares for $8.3 million during Q1 2025, with approximately $7 million remaining under their share repurchase program.

South Plains Financial (NASDAQ:SPFI), the parent company of City Bank, has announced a quarterly cash dividend of $0.15 per share of common stock. The dividend will be paid on May 12, 2025 to shareholders of record as of the close of business on April 28, 2025.

South Plains Financial (NASDAQ:SPFI) has scheduled its first quarter 2025 earnings release and conference call. The financial results will be released after market close on Thursday, April 24, 2025, followed by a conference call and webcast at 5:00 p.m. ET.

Investors and analysts can participate by dialing 1-877-407-9716 (international: 1-201-493-6779) approximately 10 minutes before the call. A live webcast will be available on the company's website. The replay will be accessible until May 8, 2025, through the company's website or by dialing 1-844-512-2921 (international: 1-412-317-6671) with pin 13752910.

South Plains Financial (NASDAQ:SPFI) has released its 2024 Community Impact Report, highlighting the company's corporate citizenship initiatives through its subsidiary City Bank.

The report showcases several key achievements:

• Provided over $400 million in loans for small businesses, farms, and community development in 2024
• Employees contributed more than 4,200 volunteer hours across 184 organizations
• Received recognition from South Plains Food Bank as group of the year, supporting over 57,000 individuals annually
• Delivered 1,257 hours of educational content to more than 500 students in Texas and New Mexico markets through EverFi partnership

South Plains Financial (NASDAQ:SPFI) has announced a new stock repurchase program authorized by its board of directors. The program allows for the repurchase of up to $15.0 million of outstanding common stock shares through February 21, 2026.

The company may conduct repurchases through various means, including open market purchases and privately negotiated transactions, in accordance with Rule 10b-18 and other legal requirements. A trading plan under Rule 10b5-1 may also be implemented, enabling share repurchases during blackout periods or regulatory restrictions.

The timing, manner, and amount of repurchases will be influenced by factors including stock price performance, market conditions, regulatory requirements, and fund availability. The company maintains discretion to begin, suspend, or terminate repurchases without notice, with no obligation to repurchase any specific number of shares.

South Plains Financial (NASDAQ:SPFI) reported strong fourth quarter 2024 results with net income of $16.5 million ($0.96 per diluted share), up from $11.2 million in Q3 2024 and $10.3 million in Q4 2023. The company's net interest margin improved to 3.75%, while the average cost of deposits decreased to 229 basis points.

For full-year 2024, net income was $49.7 million ($2.92 per diluted share), compared to $62.7 million in 2023. Total assets reached $4.23 billion, with loans held for investment growing by $40.9 million (1.4%) during 2024. The bank maintained strong capital ratios, with a total risk-based capital ratio of 16.74% and a common equity tier 1 ratio of 12.41%.

Deposits totaled $3.62 billion as of December 31, 2024, with noninterest-bearing deposits representing 25.8% of total deposits. The asset quality remained stable with an allowance for credit losses to loans ratio of 1.42%.

South Plains Financial (NASDAQ:SPFI), the parent company of City Bank, has announced a quarterly cash dividend of $0.15 per share of common stock. The dividend will be paid on February 18, 2025, to shareholders of record as of the close of business on February 3, 2025.