10-K · March 5, 2026
SPFI’s 2025 10-K emphasizes a community-bank strategy anchored in West Texas and an announced acquisition of BOH (agreement dated December 1, 2025) expected to close in Q2 2026. Financially, 2025 showed modest revenue…
Earnings analysis · 10-Q
SPFI earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
South Plains Financial, Inc. reported Q1 2026 net income of $14.5 million, equating to diluted earnings per share of $0.85, a notable increase from $12.3 million and $0.72 per share in Q1 2025. However, the results fell…
Read full summary
South Plains Financial, Inc. reported Q1 2026 net income of $14.5 million, equating to diluted earnings per share of $0.85, a notable increase from $12.3 million and $0.72 per share in Q1 2025. However, the results fell slightly short of both the consensus EPS estimate of $0.88 and revenue estimate of $54.35 million, reporting actual revenues of $54.147 million. Despite these headwinds, net interest income and noninterest income both saw positive growth, reflecting strong overall performance amid increased expenses.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.85
What stood out
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Revenue Growth Year-over-Year
Revenue increased to $54.147 million in Q1 2026 from $50.965 million in Q1 2025, a 6.9% increase.
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EPS Improvement
Diluted EPS rose to $0.85 in Q1 2026 from $0.72 in Q1 2025, a 18.1% year-over-year increase.
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Net Interest Margin Expansion
Net interest margin improved from 3.81% in Q1 2025 to 4.04% in Q1 2026.
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Increased Net Interest Income
Net interest income for Q1 2026 reached $43.1 million, up from $38.8 million in Q1 2025.
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Growth in Total Deposits
Total deposits grew by 4.0% to $4.03 billion compared to $3.87 billion as of December 31, 2025.
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Acquisition Impact
Strategic acquisition of BOH Holdings in April 2026 expected to enhance future growth and financial performance.
What to watch
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Exceeded Estimate on Noninterest Expense
Noninterest expense increased to $35.5 million in Q1 2026, up from $33.0 million in Q1 2025, contributing to earnings pressure.
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Acquisition Costs
Acquisition-related expenses of $1.5 million in Q1 2026 may impact future profitability.
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Investment Losses
A $801,000 loss in SBIC investments noted in the quarter poses a risk to revenue stability.
Management's outlook
Management provided no numeric forward guidance in this report.
Earlier filings 4
10-K · March 7, 2025
South Plains Financial (SPFI) emphasizes a community-bank strategy anchored in West Texas with targeted geographic expansion across Texas and New Mexico. As of December 31, 2024 the company reports $4.23 billion in…
10-Q · August 6, 2024
South Plains Financial reported Q2 results with diluted EPS of $0.66 and total revenue of $48,597,000 for the three months ended June 30, 2024. Net interest income strengthened modestly while loan balances grew;…
10-K · March 15, 2024
South Plains Financial (SPFI) positions itself as a community/regional bank focused on West Texas with 25 full-service branches across seven markets and a relationship-driven lending culture. The company reports $4.20…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.