---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-036070"
form_type: "8-K"
ticker: "SPFI"
cik: "0001163668"
company_name: "SOUTH PLAINS FINANCIAL, INC."
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T02:50:39.040939+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# South Plains Q2 net income $29.7M ($1.71 EPS) includes $22.9M Windmark gain; core EPS $0.55

## Summary
- Net income $29.7M, diluted EPS $1.71; adjusted EPS $0.55 excluding $22.9M net Windmark gain and $2.7M securities loss.
- Loans held for investment grew 6.8% to $2.98B; deposits up 1.9% to $3.57B.
- Nonperforming assets to total assets rose to 0.51% from 0.19%, driven by a $13.3M nonaccrual relationship.
- Board authorized $15M stock repurchase in May; ~113,000 shares repurchased in Q2.
- Net interest margin (tax-equivalent) 3.65%, down from 3.75% Q1 2023 and 4.02% Q2 2022.

## SEC filing metadata
- accession: 0001140361-23-036070
- form_type: 8-K
- ticker: SPFI
- cik: 0001163668
- company_name: SOUTH PLAINS FINANCIAL, INC.
- filed_at: 2023-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163668/000114036123036070/0001140361-23-036070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163668/000114036123036070/brhc20056362_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-036070
- JSON: https://secwatch.observer/filing/0001140361-23-036070.json
- Plain text: https://secwatch.observer/filing/0001140361-23-036070.txt

## Key facts
- Earnings Releases
  SOUTH PLAINS FINANCIAL, INC. reported second quarter ended June 30, 2023 results: net income $29.7 million, EPS $1.71.
  - Period: second quarter ended June 30, 2023
  - Net income: $29.7 million
  - EPS: $1.71
  - Result: reported results
  source text: South Plains Financial, Inc. Reports Second Quarter 2023 Financial Results
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163668/000114036123036070/0001140361-23-036070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.