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SPFI

South Plains Financial, Inc.

SPFI

South Plains Financial, Inc. • NASDAQ
$37.79 ▼ -0.40% (-0.15)
Market Cap $614.01 M
52w High $42.38
52w Low $30.01
Dividend Yield 0.64%
P/E 10.77
Volume 23.27K
Outstanding Shares 16.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $74.048M ▼ $31.387M ▼ $16.318M ▲ 22.037% ▲ $1 ▲ $22.08M ▲
Q2-2025 $76.3M ▲ $33.543M ▲ $14.605M ▲ 19.142% ▲ $0.9 ▲ $20.086M ▲
Q1-2025 $69.093M ▼ $31.576M ▲ $12.294M ▼ 17.793% ▼ $0.75 ▼ $17.18M ▼
Q4-2024 $73.183M ▲ $28.488M ▼ $16.497M ▲ 22.542% ▲ $1.01 ▲ $22.316M ▲
Q3-2024 $70.775M $31.628M $11.212M 15.842% $0.68 $15.962M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $799.284M ▼ $4.479B ▲ $4.002B ▲ $477.802M ▲
Q2-2025 $1.04B ▲ $4.364B ▼ $3.91B ▼ $454.074M ▲
Q1-2025 $753.627M ▲ $4.405B ▲ $3.961B ▲ $443.743M ▲
Q4-2024 $627.322M ▼ $4.232B ▼ $3.793B ▼ $438.949M ▼
Q3-2024 $1.078B $4.338B $3.895B $443.122M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $16.318M ▲ $24.216M ▲ $51.863M ▲ $88.471M ▲ $164.55M ▲ $22.463M ▲
Q2-2025 $14.605M ▲ $14.746M ▼ $-25.595M ▼ $-54.955M ▼ $-65.804M ▼ $13.019M ▼
Q1-2025 $12.294M ▼ $26.095M ▲ $-9.774M ▲ $160.897M ▲ $177.218M ▲ $24.96M ▲
Q4-2024 $16.497M ▲ $4.172M ▼ $-14.694M ▼ $-101.563M ▼ $-112.085M ▼ $3.143M ▼
Q3-2024 $11.212M $17.872M $63.727M $91.562M $173.161M $17.099M

Five-Year Company Overview

Income Statement

Income Statement Revenue has inched up over the last five years and stayed fairly steady overall, which is typical for a mature community and regional bank. Profitability has been consistently positive, but earnings appear to have peaked in the prior couple of years and eased a bit more recently. This likely reflects a tougher interest-rate environment, with higher funding costs and normal competitive pressure on loan pricing. Even so, operating and net income remain healthy, and margins are still respectable for a bank of this size. Overall, the income statement shows a stable, profitable franchise, but not one in a strong acceleration phase right now.

Balance Sheet

Balance Sheet The balance sheet looks conservative and gradually stronger over time. Total assets have been growing at a measured pace, suggesting controlled expansion rather than aggressive balance sheet growth. Cash and liquid resources have improved from earlier years, which helps the bank’s flexibility and resilience. Debt levels are relatively low and have been edging down, while shareholder equity has moved up steadily. Put together, this points to a bank that is well-capitalized, not over-leveraged, and positioned to absorb normal credit and rate-cycle bumps.

Cash Flow

Cash Flow Cash generation from operations has been positive every year, though somewhat up and down, which is normal for a lender as loan demand and working capital move around. Free cash flow has tracked broadly in line with operating cash flow and has stayed positive, helped by modest capital spending needs. This suggests the bank is able to fund its own growth and shareholder returns out of internally generated cash rather than relying heavily on borrowing or new capital. The pattern is more one of steady, workmanlike cash production than dramatic swings.

Competitive Edge

Competitive Edge South Plains Financial operates as a classic community and regional bank with a strong local focus in Texas and New Mexico. Its edge comes less from size and more from deep relationships, local decision-making, and a reputation built over many years. The bank emphasizes service for small and mid-sized businesses, nonprofits, and local consumers, and has been recognized as a high-performing community bank. At the same time, it faces intense competition from large national banks, other regional players, and digital-first fintechs, especially in big Texas metro markets. Its geographic concentration also means its fortunes are closely tied to those local economies, which is both a strength (local insight) and a risk (regional dependency).

Innovation and R&D

Innovation and R&D This is not a heavy research-and-development story, but the bank has been steadily modernizing. It offers a full-featured digital platform, including mobile banking, remote deposit, and a virtual assistant, plus more advanced treasury tools for businesses. Security investments, such as enhanced authentication, and partnerships with technology providers help it keep pace with industry standards. The strategy is to blend modern digital convenience with high-touch local service, rather than to disrupt the industry. Looking ahead, management is signaling more investment in digital capabilities, further expansion in major Texas cities, and a willingness to consider selective acquisitions, all of which could gradually strengthen its competitive position if executed well.

Summary

South Plains Financial comes across as a solid, conservatively run community and regional bank that has adapted reasonably well to the digital era. Its earnings are consistently positive, though recent profitability sits below its best years, reflecting a more challenging rate and competitive environment. The balance sheet appears sound, with good capital, prudent leverage, and rising equity, and cash flows are steady enough to support ongoing operations and growth. Competitively, its main strengths are deep community roots, strong local brand, and tailored services for businesses and nonprofits, offset by the usual pressures from much larger banks and fintech rivals. The key things to watch over time are credit quality through economic cycles, funding costs, success in expanding in larger Texas markets, and whether its digital offerings remain competitive as customer expectations continue to rise.

NEWS

October 16, 2025 · 4:15 PM UTC

South Plains Financial, Inc. Declares Quarterly Cash Dividend

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October 9, 2025 · 4:15 PM UTC

South Plains Financial, Inc. Announces Third Quarter 2025 Earnings Call

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