secwatch.observer — SEC 8-K summary
======================================

Issuer:     SOUTH PLAINS FINANCIAL, INC. (SPFI)
CIK:        0001163668
Form:       8-K
Filed at:   2022-04-26T23:59:59+00:00
Accession:  0001140361-22-015976
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPFI Q1 net income $14.3M ($0.78 EPS); loan growth 2.6% annualized, NIM 3.33%
-----------------------------------------------------------------------------

- Net income of $14.3M down from $14.6M Q4 2021 and $15.2M Q1 2021; diluted EPS $0.78.
- Net interest margin 3.33% vs 3.50% Q4 2021; net interest income $29.9M.
- Negative provision for loan losses of $2.1M driven by improved credit metrics.
- Loans held for investment grew $16.1M to $2.45B; deposits up $108.9M to $3.45B.
- Noninterest income $23.7M included $4.5M MSR fair value adjustment; mortgage originations fell $79M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163668/000114036122015976/0001140361-22-015976-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163668/000114036122015976/brhc10036719_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-015976

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer