South Plains Financial Q3 net income $15.5M ($0.86 EPS), loan growth 17%, declares $0.12 dividend

SOUTH PLAINS FINANCIAL, INC.

2022-Q3 EPS reported $2.52

Net income $15.5M ($0.86 diluted EPS) in Q3 2022 vs $15.9M ($0.88) in Q2 and $15.2M ($0.82) in Q3 2021.
Loans held for investment grew $109.9M (17.0% annualized) to $2.69B; deposits $3.46B (+$34.7M).
Negative provision of $782k; nonperforming assets to total assets 0.19%; net charge-offs (0.10)% annualized.
Tangible book value $18.61 per share, down from $19.50 at June 30, driven by $26.7M AOCI decline from rising rates.
Settled litigation with Kasasa: mutual release of all claims; case dismissed with prejudice on October 7, 2022.

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