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. (Symbol: SPFI) is a dynamic bank holding company that offers a comprehensive suite of financial services to both commercial and individual clients, with a primary focus on small and medium-sized businesses. As a pivotal player in the financial sector, SPFI is dedicated to delivering exceptional value through its various services, which include commercial and retail banking, insurance, investment, trust, and mortgage services.
The company operates under two main segments: banking and insurance. In the banking segment, South Plains Financial provides a variety of traditional financial services such as loan offerings, deposit accounts, and cash management solutions. The insurance segment, on the other hand, encompasses various risk management products designed to meet the needs of both businesses and individuals.
Recent Achievements and Projects:
- Second Quarter 2023 Highlights: The company reported robust results, showcasing strong net interest income and well-managed noninterest expenses.
- Third Quarter 2023 Highlights: Continued growth in loan portfolio and improved asset quality were notable achievements. The company's deposits and borrowings also reflected a healthy balance sheet.
- First Quarter 2024 Highlights: SPFI maintained its momentum with solid results in its operating segments, further strengthening its financial position.
South Plains Financial’s commitment to excellence is evident in its consistent performance and strategic initiatives aimed at long-term growth. The company's forward-looking statements indicate a positive outlook, driven by its robust financial measures and a strong foundation in both its banking and insurance segments.
Overall, South Plains Financial, Inc. stands out for its comprehensive range of services, strong financial health, and dedication to serving both individual and business clients. Investors looking for a reliable financial services provider may find SPFI to be a promising option.
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.
South Plains Financial, Inc. (NASDAQ:SPFI) has declared a quarterly cash dividend of $0.07 per share, marking an increase of $0.02 from the previous quarter. This dividend will be payable on May 17, 2021, to shareholders of record as of May 3, 2021. South Plains is the parent company of City Bank, one of the largest independent banks in West Texas, providing a broad range of financial services to businesses and individuals across Texas and New Mexico.
South Plains Financial, Inc. (NASDAQ:SPFI) will release its first-quarter 2021 financial results after market close on April 27, 2021. A conference call is scheduled for 5:00 p.m. Eastern Time on the same day to discuss these results. Investors can access the call by dialing 1-877-407-9716, and a live audio webcast will be available on the company’s website. A replay will be accessible shortly after the call and available until May 11, 2021. South Plains is the parent company of City Bank, serving a diverse market across Texas and New Mexico.
South Plains Financial, Inc. (NASDAQ: SPFI) reported a net income of $15.9 million for Q4 2020, a decrease from $16.7 million in Q3 2020 but up from $10.1 million in Q4 2019. Diluted EPS for the quarter was $0.87, down from $0.92 in Q3 2020. For the full year, net income was $45.4 million compared to $29.2 million in 2019. Total assets grew to $3.6 billion. The efficiency ratio improved to 63.0% from 75.3% in 2019. The loan modifications decreased from 5.4% to 2.9% of the total portfolio, indicating better asset quality amidst the pandemic.
South Plains Financial, Inc. (NASDAQ:SPFI) has declared a quarterly cash dividend of $0.05 per share, payable on February 16, 2021, to shareholders of record by February 1, 2021. The dividend amount and future payments are subject to the discretion of the Board of Directors. South Plains, the parent company of City Bank, operates in West Texas and offers a variety of financial services including commercial and retail banking, insurance, and mortgage services.
South Plains Financial, Inc. (NASDAQ:SPFI) has announced the release of its fourth quarter and full year 2020 financial results on January 27, 2021, after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss these results. Investors can participate by dialing in or through a live webcast on the company’s website. A replay will be available shortly after the call concludes. South Plains operates City Bank, a significant player in West Texas banking, offering a broad range of financial services in various markets across Texas and New Mexico.
South Plains Financial, Inc. (NASDAQ:SPFI) has resumed its share repurchase program, initially authorized in March 2020, allowing for the buyback of up to $10 million in common stock. Following a temporary suspension due to the COVID-19 pandemic, the company has repurchased 4,700 shares for approximately $61,000 to date. The repurchase program's expiration has been extended to November 5, 2021. The company's repurchases will depend on various market and corporate factors, with no obligation for specific amounts or shares.
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