Welcome to our dedicated page for South Plains Financial news (Ticker: SPFI), a resource for investors and traders seeking the latest updates and insights on South Plains Financial stock.
South Plains Financial, Inc. (NASDAQ: SPFI) is a Texas-based bank holding company for City Bank, a Texas state‑chartered bank headquartered in Lubbock. The company reports that it provides commercial and consumer financial services to small and medium-sized businesses and individuals through commercial and retail banking, as well as investment, trust and mortgage services. This news page aggregates coverage and disclosures related to those activities.
Investors following SPFI news can review company announcements on quarterly and annual financial results, including net income, earnings per share, net interest margin, loan and deposit trends, capital ratios, and asset quality metrics. South Plains regularly issues press releases and files Current Reports on Form 8‑K to furnish earnings releases and slide presentations, and it hosts conference calls and webcasts to discuss its financial performance.
News items also include dividend declarations by the board of directors, details on quarterly cash dividends, and related payment and record dates, as reported in press releases and 8‑K filings. In addition, South Plains has announced corporate actions such as the redemption of subordinated notes and amendments to its bylaws, which are documented in its regulatory filings and public communications.
A significant recent development in SPFI news is the company’s entrance into a definitive merger agreement to acquire BOH Holdings, Inc., the parent company of Bank of Houston, in an all‑stock transaction. Public statements describe this proposed acquisition as a step to deepen South Plains’ commitment to the Houston market and expand its Texas banking franchise, subject to customary approvals and closing conditions.
By monitoring this news feed, readers can track South Plains Financial, Inc.’s reported financial results, capital and dividend actions, strategic transactions, and other material events as disclosed through press releases and SEC filings.
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South Plains Financial, Inc. (SPFI), the parent of City Bank, announced a quarterly cash dividend of $0.13 per share, payable on May 15, 2023, to shareholders of record by the close of business on May 1, 2023. This move reflects the company’s commitment to returning value to its shareholders.
Situated in Lubbock, Texas, South Plains provides a broad spectrum of commercial and consumer financial services. It is one of the largest independent banks in West Texas, with operations extending across several key Texas markets and into New Mexico.
South Plains Financial, Inc. (NASDAQ:SPFI) will announce its first quarter 2023 financial results on April 27, 2023, after market close. A conference call and webcast will be hosted the same day at 5:00 p.m. ET to discuss the results. Interested investors and analysts can join the call by dialing 1-877-300-8521 (or 1-412-317-6026 for international callers) about 10 minutes prior to start.
The call will also be available via a live audio webcast on the Company’s website. A replay can be accessed within two hours after the call’s conclusion by calling 1-844-512-2921 (international: 1-412-317-6671) and using the pin 10177523 until May 11, 2023.
South Plains Financial, Inc. (NASDAQ:SPFI) announced the divestiture of its subsidiary, Windmark Insurance Agency, to Alliant Insurance Services, effective April 1, 2023. Chairman and CEO Curtis Griffith highlighted that the decision arose as the company faced the need for significant capital investment to sustain Windmark, prompting exploration of divestiture. The sale allows South Plains to focus on its core business while retaining liquidity and capital flexibility. Windmark, known for its crop insurance products, will benefit from Alliant's resources and service enhancements in Texas and the Midwest.
South Plains Financial, Inc. (NASDAQ:SPFI) reported its Q4 and full-year 2022 financial results on January 26, 2023. Q4 net income was $12.6 million, down from $15.5 million in Q3 and $14.6 million in Q4 2021. Diluted EPS for Q4 was $0.71, compared to $0.86 in Q3. Full-year net income was $58.2 million, slightly down from $58.6 million in 2021, with diluted EPS increasing to $3.23 from $3.17. Loans grew 12.7% year-over-year, while noninterest income fell due to a decline in mortgage banking activities. The company repurchased 4.8% of shares and raised dividends by 53% in 2022. Looking ahead, SPFI anticipates low single-digit loan growth in 2023 amidst economic moderation in Texas.