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.
On January 19, 2023, South Plains Financial, Inc. (NASDAQ:SPFI) announced a quarterly cash dividend of $0.13 per share, representing an 8% increase from the previous quarter's dividend declared in October 2022. The dividend is set to be payable on February 13, 2023 to shareholders of record by the close of business on January 30, 2023. This decision reflects the company's ongoing commitment to returning value to its shareholders while maintaining its operational growth.
South Plains Financial, Inc. (NASDAQ:SPFI) announced its fourth quarter and full year 2022 financial results set for release after the market close on January 26, 2023. A conference call is scheduled at 5:00 p.m. ET to discuss the results. Investors can join the call by dialing 1-877-407-9716 (or 1-201-493-6779 for international callers). A live audio webcast will be available on the Company’s website. A replay will be accessible within two hours post-call until February 2, 2023.
South Plains Financial (SPFI) reported a net income of $15.5 million for Q3 2022, slightly down from $15.9 million in Q2 2022. Diluted EPS decreased to $0.86 from $0.88 in the prior quarter. The company achieved a 17% annualized loan growth during the quarter, with loans held for investment reaching $2.69 billion. Despite an increase in deposit costs, total deposits grew to $3.46 billion. The provision for loan losses was negative at $782,000. The tangible book value per share dropped to $18.61 from $19.50. South Plains repurchased 366,000 shares in the quarter.
South Plains Financial, Inc. (NASDAQ:SPFI) has declared a quarterly cash dividend of $0.12 per share, payable on November 15, 2022. Shareholders on record as of the close of business on October 31, 2022 will receive this dividend. As a parent company of City Bank, South Plains plays a significant role in the financial services sector across West Texas and beyond, offering a range of banking and financial solutions.
South Plains Financial, Inc. (NASDAQ:SPFI) announced its third quarter 2022 financial results will be released on October 21, 2022, before market open. The Company will host a conference call at 11:00 a.m. ET on the same day to discuss these results. Interested participants can join the call by dialing 1-877-407-9716 or via a live audio webcast available on their website. A replay will be accessible shortly after the call and until November 4, 2022. South Plains is the parent company of City Bank, providing various banking services in Texas and New Mexico.
South Plains Financial (NASDAQ: SPFI) reported a net income of $15.9 million for Q2 2022, up from $14.3 million in Q1 2022 and $13.7 million in Q2 2021. Diluted EPS increased to $0.88 compared to $0.78 in Q1 2022. The company experienced a strong 20.8% annualized growth in loans held for investment, totaling $2.58 billion. Nonperforming assets decreased to 0.20% of total assets. However, tangible book value per share fell to $19.49 from $20.49 in Q1. The company sees potential for improved earnings and expanded share buybacks.
South Plains Financial, Inc. (NASDAQ:SPFI), the parent company of City Bank, announced a quarterly cash dividend of $0.12 per share, a 9% increase from April 2022. The dividend will be payable on August 15, 2022, to shareholders of record by August 1, 2022. This decision reflects the company's commitment to returning value to shareholders amidst its operational growth in key Texas and New Mexico markets.
South Plains Financial, Inc. (NASDAQ:SPFI) announced the release of its second quarter 2022 financial results on July 22, 2022, before market open. The Company will host a conference call at 11:00 a.m. ET that day to discuss these results. Interested investors and analysts can participate by dialing in or accessing the live audio webcast via the Company’s website. A replay will be available shortly after the call until August 5, 2022. South Plains operates as a major banking entity in Texas and provides diverse financial services.
South Plains Financial (NASDAQ:SPFI) announced a new stock repurchase program for up to $15 million of its common stock, set to begin after the expiration of the current repurchase program. The existing program has approximately $1.6 million remaining. The new program will conclude on May 21, 2023, unless terminated or extended by the board. Repurchases will be made through open market purchases or private transactions, considering stock performance and market conditions. This initiative aims to enhance shareholder value.
South Plains Financial (NASDAQ:SPFI) reported a net income of $14.3 million for Q1 2022, slightly down from $14.6 million in Q4 2021 and $15.2 million in Q1 2021. The diluted earnings per share was $0.78, compared to $0.79 in the previous quarter. The company experienced growth in loans of $16.1 million, or 2.6% annualized. While deposits rose by $109 million, the net interest margin decreased to 3.33%. A provision for loan losses of $2.1 million was recorded, reflecting improved credit metrics. The outlook remains positive for mid to high single-digit loan growth in 2022.