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.
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.
South Plains Financial (NASDAQ:SPFI) has scheduled its fourth quarter and full year 2024 earnings release for Friday, January 24, 2025, before market open. The company will host a conference call and webcast at 10:00 a.m. ET on the same day to discuss the financial results.
Investors and analysts can participate by dialing 1-877-407-9716 (international: 1-201-493-6779). A live webcast will be available on the company's website. A replay will be accessible until February 07, 2025, via the company's website or by phone using pin 13750452.
South Plains Financial (NASDAQ:SPFI) reported third quarter 2024 financial results with net income of $11.2 million, slightly up from $11.1 million in Q2 2024 but down from $13.5 million in Q3 2023. Diluted EPS remained stable at $0.66 compared to Q2 2024. The company's net interest margin improved to 3.65%, while deposits increased by $94.8 million to $3.72 billion. Nonperforming assets to total assets were 0.59%. The loan portfolio decreased by $56.9 million to $3.04 billion, while the allowance for credit losses ratio stood at 1.41%. Book value per share increased to $27.04, driven by net income and improved accumulated other comprehensive income.
South Plains Financial, Inc. (NASDAQ:SPFI), the parent company of City Bank, has announced a 7% increase in its quarterly cash dividend. The Board of Directors has declared a dividend of $0.15 per share of common stock, up from the previous dividend declared in July 2024. This increased dividend will be payable on November 12, 2024 to shareholders of record as of the close of business on October 28, 2024. The announcement demonstrates South Plains' commitment to delivering value to its shareholders and reflects the company's confidence in its financial position and future prospects.
South Plains Financial, Inc. (NASDAQ:SPFI), the parent company of City Bank, has announced the release of its third quarter 2024 financial results. The results will be made public after market close on Wednesday, October 23, 2024. Following the release, the company will host a conference call and webcast at 5:00 p.m. ET to discuss the financial outcomes.
Interested investors and analysts can participate in the call by dialing 1-877-407-9716 (international callers: 1-201-493-6779) about 10 minutes before the call starts. A live audio webcast will be available on the company's website. A replay of the call will be accessible until November 6, 2024, through the company's website or by dialing 1-844-512-2921 (international: 1-412-317-6671) with the pin 13749147.
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