secwatch.observer — SEC 8-K summary
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Issuer:     SOUTH PLAINS FINANCIAL, INC. (SPFI)
CIK:        0001163668
Form:       8-K
Filed at:   2022-07-22T23:59:59+00:00
Accession:  0001140361-22-026651
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

South Plains Financial Q2 net income $15.9M ($0.88 EPS); loan growth 20.8% annualized
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- Net income $15.9M ($0.88 diluted EPS) vs $14.3M ($0.78) Q1 2022 and $13.7M ($0.74) Q2 2021.
- Loans held for investment grew $126.9M (20.8% annualized) from Q1 2022; organic net loan growth $148.2M.
- No provision for loan losses in Q2; NPAs/total assets improved to 0.20% from 0.33% Q1 2022.
- Net interest margin (tax-equivalent) expanded to 4.02% from 3.33% Q1; average cost of deposits 27 bps.
- Repurchased ~257,000 shares in Q2 vs 106,000 in Q1, citing belief shares trade below intrinsic value.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163668/000114036122026651/0001140361-22-026651-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163668/000114036122026651/brhc10039865_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-026651

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