NASDAQ : SPFI

South Plains Financial, Inc. — Financial statements

Financials · Banks - Regional · United States

Last price 44.19 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 832.87M

Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports

Financial statements

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Interest Income on Loans235.10M211.20M202.27M176.60M137.95M120.54M
Interest Income on Investments42.37M40.80M38.63M35.44M23.21M14.50M
Total Interest Income277.47M252.00M240.90M212.03M161.17M135.04M
Interest Paid on Deposits86.17M79.36M87.08M64.99M17.00M8.29M
Interest Paid on Borrowings3.68M5.64M6.72M7.30M5.69M4.98M
Total Interest Expense89.85M85.00M93.80M72.29M22.69M13.27M
Net Interest Income187.61M167.00M147.10M139.75M138.48M121.76M
Trust Income2.93M2.93M2.72M2.43M2.39M2.92M
Mortgage Banking Activities6.43M1.08M3.66M2.79M10.61M8.54M
Gain (Loss) on Sale of Assets33.78M
Gain (Loss) on Sale of Investments-3.41M
Other Non-Interest Income21.75M22.45M23.14M22.07M35.56M27.86M
Total Non-Interest Income50.18M44.89M48.07M75.82M76.14M97.47M
Revenues Before Loan Losses237.79M211.89M195.17M215.56M214.62M219.23M
Provision for Loan Losses3.21M5.20M4.30M4.61M-2.62M-1.92M
Revenue234.58M206.69M190.87M210.95M217.24M221.15M
Salaries and Employee Benefits81.82M74.32M72.02M77.22M83.57M91.72M
Occupancy Expenses14.28M13.65M13.71M13.20M13.09M12.06M
Selling, General & Administrative23.16M21.06M19.37M18.35M22.79M18.12M
Other Non-Interest Expense27.22M23.59M22.48M22.76M24.64M26.13M
Total Non-Interest Expense146.49M132.62M127.58M131.54M144.09M148.03M
EBT Excluding Unusual Items88.09M74.07M63.29M79.42M73.15M73.12M
Pretax Income88.09M74.07M63.29M79.42M73.15M73.12M
Income Tax Expense18.54M15.60M13.57M16.67M14.91M14.51M
Net Income69.56M58.47M49.72M62.74M58.24M58.61M
Net Income to Common69.56M58.47M49.72M62.74M58.24M58.61M
Basic Shares Outstanding18.24M16.28M16.41M16.84M17.37M17.95M
Diluted Shares Outstanding18.94M16.98M17.03M17.33M18.02M18.49M
EPS (Basic)3.813.593.033.733.353.26
EPS (Diluted)3.673.442.923.623.233.17
Dividend Per Share0.680.620.560.520.460.30
Effective Tax Rate21.04%21.06%21.45%20.99%20.38%19.84%

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents776.74M551.07M357.71M328.62M233.34M485.28M
Investment Securities518.35M195.80M199.30M208.38M255.26M315.10M
Trading Asset Securities9.97M16.00M17.23M21.16M7.33M
Mortgage-Backed Securities373.14M377.94M414.38M446.45M409.41M
Total Investments518.35M578.91M593.24M639.99M722.87M731.83M
Gross Loans3.83B3.14B3.06B3.01B2.75B2.44B
Allowance for Loan Losses-52.77M-45.13M-43.24M-42.36M-39.29M-42.10M
Other Adjustments to Gross Loans-1.90M
Net Loans3.78B3.10B3.01B2.97B2.71B2.40B
Property, Plant & Equipment51.15M58.52M60.92M63.75M64.28M57.70M
Goodwill66.59M19.32M19.32M19.32M19.51M19.51M
Other Intangible Assets5.26M1.13M1.72M2.43M4.35M5.89M
Loans Held for Sale10.45M9.99M20.54M14.50M30.40M76.51M
Accrued Interest Receivable20.93M21.69M20.88M16.43M13.90M
Restricted Cash1.37M1.37M1.54M1.54M1.54M
Long-Term Deferred Tax Assets20.43M22.84M19.41M22.82M3.04M
Other Real Estate Owned & Foreclosed1.72M1.75M530.00K912.00K169.00K1.03M
Other Long-Term Assets202.24M117.70M120.55M121.65M119.56M110.14M
Total Assets5.41B4.48B4.23B4.20B3.94B3.90B
Accrued Expenses33.59M36.14M33.00M49.24M30.50M
Interest Bearing Deposits3.48B2.65B2.48B2.48B2.12B2.11B
Institutional Deposits200.60M208.80M170.40M131.00M163.40M
Non-Interest Bearing Deposits1.18B1.02B935.51M974.20M1.15B1.07B
Total Deposits4.66B3.87B3.62B3.63B3.41B3.34B
Short-Term Borrowings65.00K12.00K432.00K128.00K535.00K
Current Portion of Leases1.62M
Other Current Liabilities10.50M17.00M18.30M
Long-Term Debt14.10M14.10M63.96M63.77M75.96M75.78M
Long-Term Leases6.31M8.91M9.63M8.90M
Trust Preferred Securities46.39M46.39M46.39M46.39M46.39M46.39M
Other Long-Term Liabilities66.93M
Total Liabilities4.79B3.99B3.79B3.80B3.59B3.49B
Common Stock18.85M16.29M16.46M16.42M17.03M17.76M
Additional Paid-In Capital195.31M91.06M97.29M97.11M112.83M133.22M
Retained Earnings479.08M434.20M385.83M345.26M292.26M242.75M
Comprehensive Income & Other-70.48M-47.72M-60.62M-51.67M-65.11M13.70M
Shareholders' Equity622.76M493.84M438.95M407.11M357.01M407.43M
Total Liabilities & Equity5.41B4.48B4.23B4.20B3.94B3.90B
Total Debt60.49M68.49M119.27M120.23M131.38M122.70M
Net Cash (Debt)716.24M492.55M254.44M225.62M123.13M369.91M
Net Cash Per Share37.8129.0014.9413.026.8320.00
Filing Date Shares Outstanding18.85M16.33M16.49M16.43M17.05M17.69M
Total Common Shares Outstanding18.85M16.29M16.46M16.42M17.03M17.76M
Book Value Per Share33.0430.3126.6724.8020.9722.94
Tangible Book Value550.90M473.39M417.91M385.37M333.16M382.02M
Tangible Book Value Per Share29.2329.0525.4023.4719.5721.51

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income58.47M49.72M62.74M58.24M58.61M
Depreciation & Amortization8.53M9.35M9.79M11.04M10.95M
Gain (Loss) on Sale of Assets-184.00K-108.00K-33.91M-166.00K-729.00K
Gain (Loss) on Sale of Investments3.41M
Provision for Credit Losses5.20M4.30M4.61M-2.62M-1.92M
Net Decrease (Increase) in Loans Originated / Sold - Operating19.07M3.52M25.46M63.80M76.96M
Accrued Interest Receivable2.96M1.42M-8.50M-1.07M3.38M
Change in Other Net Operating Assets-10.24M742.00K2.66M16.92M-191.00K
Other Operating Activities668.00K-1.36M1.14M-4.54M-1.25M
Operating Cash Flow77.49M59.38M58.54M123.59M96.27M
Capital Expenditures-5.66M-3.35M-4.68M-4.47M-2.92M
Sale of Property, Plant and Equipment2.26M380.00K968.00K480.00K1.46M
Investment in Securities28.86M33.16M93.04M-95.46M58.78M
Divestitures36.08M
Net Decrease (Increase) in Loans Originated / Sold - Investing-95.80M-46.29M-270.20M-311.46M-218.46M
Other Investing Activities2.12M2.18M1.42M2.05M1.30M
Investing Cash Flow-68.22M-13.93M-143.38M-408.86M-159.84M
Short-Term Debt Repaid-26.55M
Long-Term Debt Repaid-50.00M-12.37M-75.00M
Total Debt Repaid-50.00M-12.37M-101.55M
Net Debt Issued (Repaid)-50.00M-12.37M-101.55M
Issuance of Common Stock451.00K
Repurchase of Common Stock-9.46M-2.10M-18.49M-23.87M-9.85M
Common Dividends Paid-10.10M-9.15M-8.74M-8.01M-5.38M
Net Increase (Decrease) in Deposit Accounts253.20M-5.28M219.72M65.21M366.87M
Financing Cash Flow184.09M-16.53M180.11M33.33M250.08M
Net Cash Flow193.36M28.92M95.28M-251.94M186.51M
Free Cash Flow71.83M56.03M53.86M119.12M93.35M
Free Cash Flow Margin34.75%29.35%25.53%54.83%42.21%
Free Cash Flow Per Share4.233.293.116.615.05
Cash Interest Paid86.09M92.75M70.06M21.77M13.47M
Cash Income Tax Paid17.19M12.54M19.39M13.84M12.40M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization837.02M630.42M569.54M477.33M468.01M494.72M
Last Close Price44.0138.3333.7627.6125.7125.53
PE Ratio12.1010.7811.467.618.048.44
PS Ratio3.573.052.982.262.152.24
PB Ratio1.331.281.301.171.311.21
P/FCF Ratio11.108.7810.168.863.935.30
P/OCF Ratio10.398.139.598.153.795.14
Debt / Equity Ratio0.100.140.270.290.370.30
Debt / FCF Ratio0.952.132.231.101.31
Net Debt / Equity Ratio-1.15-1.00-0.58-0.55-0.34-0.91
Net Debt / FCF Ratio-6.86-4.54-4.19-1.03-3.96
Return on Equity (ROE)12.64%12.54%11.75%16.42%15.24%15.08%
Return on Assets (ROA)1.41%1.34%1.18%1.54%1.48%1.56%
Earnings Yield8.26%9.28%8.73%13.15%12.44%11.85%
FCF Yield9.01%11.39%9.84%11.28%25.45%18.87%
Dividend Yield1.62%1.60%1.62%1.79%1.67%1.08%
Payout Ratio19.35%17.27%18.41%13.94%13.76%9.19%
Buyback Yield / Dilution-11.21%0.28%1.74%3.81%2.56%-0.83%
Total Shareholder Return-9.58%1.88%3.36%5.60%4.23%0.24%