South Plains Financial Q1 net income falls 36% to $9.2M; sells Windmark

SOUTH PLAINS FINANCIAL, INC.

2023-Q1 EPS reported $0.53

Net income $9.2M ($0.53 diluted EPS) vs $14.3M ($0.78) Q1 2022; down 36%.
Deposits grew 12% annualized to $3.51B; uninsured/uncollateralized improved to 17% from 26%.
NIM (tax-equivalent) 3.75% vs 3.88% Q4 2022; avg deposit cost 136 bps vs 97 bps.
Provision for credit losses $1.0M vs $248K prior Q; NPA ratio 0.19%.
Post-quarter: sold Windmark Insurance Agency to Alliant Insurance for undisclosed cash.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SOUTH PLAINS FINANCIAL, INC. reported the quarter ended March 31, 2023 results: net income $9.2 million, EPS $0.53.

Period: the quarter ended March 31, 2023
Net income: $9.2 million
EPS: $0.53
Result: reported results

Exact text from the filing

South Plains Financial, Inc. Reports First Quarter 2023 Financial Results

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

SOUTH PLAINS FINANCIAL, INC. filing history →

Source: SEC EDGAR

accession 0001140361-23-021005

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