secwatch.observer — SEC 8-K summary
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Issuer:     SOUTH PLAINS FINANCIAL, INC. (SPFI)
CIK:        0001163668
Form:       8-K
Filed at:   2022-10-21T23:59:59+00:00
Accession:  0001140361-22-038005
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163668/000114036122038005/0001140361-22-038005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163668/000114036122038005/brhc10043141_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-038005

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