South Plains Financial, Inc. reports recurring bank holding company developments for City Bank, its Texas state-chartered banking subsidiary. News from SPFI centers on quarterly operating results, balance-sheet discipline, credit quality, loan growth, cash dividends, and management commentary on community-bank activity in Texas and nearby markets.
The company provides commercial and consumer financial services to small and medium-sized businesses and individuals, including commercial and retail banking, investment, trust, and mortgage services. Coverage also includes completed bank acquisitions, market expansion, community impact reporting, and recognition tied to banking performance and franchise metrics.
South Plains Financial (NASDAQ:SPFI) announced a quarterly cash dividend of $0.11 per share, reflecting an increase of $0.02 over the previous quarter. The dividend is payable on February 14, 2022, to shareholders on record as of January 31, 2022. South Plains is the parent company of City Bank, one of the largest independent banks in West Texas, providing a multitude of commercial and consumer banking services across Texas and parts of New Mexico. This dividend increase signals confidence in the company's financial health and commitment to returning value to shareholders.
South Plains Financial, Inc. (NASDAQ:SPFI) will announce its fourth quarter and full year 2021 financial results on January 27, 2022, after market close. Following the announcement, the Company will host a conference call and webcast at 5:00 PM ET to discuss the results. Interested investors can dial in or access the webcast via the Company’s website. A replay of the call will be available shortly after its conclusion and accessible until February 10, 2022. South Plains is the parent company of City Bank, offering a wide range of financial services across Texas and New Mexico.
South Plains Financial (NASDAQ:SPFI) announced a new stock repurchase program to buy back up to $10 million of its common stock, effective from November 6, 2021 to November 6, 2022. This new plan follows the expiration of the current repurchase program, and any remaining shares from the expiring plan will not transfer to the new one. The initiative aims to enhance shareholder value and reflects the company's confidence in its financial position.
South Plains Financial, Inc. (NASDAQ:SPFI) reported a net income of $15.2 million for Q3 2021, up from $13.7 million in Q2 2021 but down from $16.7 million in Q3 2020. Diluted EPS was $0.82 compared to $0.74 in the previous quarter. The average cost of deposits decreased to 0.25%. Loans held for investment grew by 5.5% to $2.43 billion. Nonperforming assets declined to 0.32%. The company did not record a provision for loan losses compared to $2 million in Q2 2021. As part of its growth strategy, South Plains repurchased approximately 190,000 shares.
South Plains Financial, Inc. (NASDAQ:SPFI) announced a quarterly cash dividend of $0.09 per share on October 21, 2021. The dividend is set to be paid on November 16, 2021 to shareholders on record as of November 1, 2021. This decision reflects the company’s commitment to returning value to shareholders while maintaining financial stability. As an independent bank in West Texas, South Plains offers a range of financial services, aiming to support small and medium-sized businesses and individuals.
South Plains Financial, Inc. (NASDAQ:SPFI) will release its third quarter 2021 financial results post-market on October 26, 2021. A conference call for investors will follow at 5:00 p.m. Eastern Time, with access details provided for participants to dial in or join via webcast. A replay will be accessible soon after the call's conclusion, lasting until November 9, 2021. The company, headquartered in Lubbock, Texas, operates City Bank and offers various financial services across multiple Texas markets and New Mexico.
South Plains Financial (NASDAQ:SPFI) reported its financial results for Q2 2021, revealing a net income of $13.7 million, down from $15.2 million in Q1 2021 and up from $5.6 million in Q2 2020. Diluted earnings per share were $0.74, compared to $0.82 and $0.31 in the respective prior periods. Pre-tax, pre-provision income was $15.1 million, a decline from $19 million in Q1 2021. Nonperforming assets fell to 0.37% of total assets. The Company plans to expand its banking team by 30% over the next two years to enhance loan growth.
South Plains Financial, Inc. (NASDAQ: SPFI) has declared a quarterly cash dividend of $0.09 per share, reflecting a $0.02 increase over the previous quarter. This dividend is set to be paid on August 16, 2021, to shareholders recorded by the end of business on August 2, 2021. This announcement highlights the company’s commitment to returning value to its shareholders and reflects robust financial health.
South Plains Financial, Inc. (NASDAQ:SPFI) announced that its second quarter 2021 financial results will be released after the market closes on July 27, 2021. A conference call and webcast will follow at 5:00 p.m. Eastern Time to discuss these results. Interested participants can join the call by dialing 1-877-407-9716 or by accessing a live audio webcast on the Company's website. A replay will also be available shortly after the call's conclusion, accessible via the investor section of the website until August 10, 2021.
South Plains Financial (NASDAQ:SPFI) reported a net income of $15.2 million for Q1 2021, down from $15.9 million in Q4 2020 but up from $7.1 million in Q1 2020. Diluted earnings per share were $0.82, and pre-tax income was $19.0 million. The provision for loan losses decreased to $89,000, with nonperforming assets at 0.42% of total assets. Deposits increased 10.3% year-over-year to $3.16 billion. A 40% dividend increase to $0.07 per share was announced, alongside a share repurchase program.