secwatch.observer — SEC 8-K summary
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Issuer:     SOUTH PLAINS FINANCIAL, INC. (SPFI)
CIK:        0001163668
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0001140361-23-036070
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163668/000114036123036070/0001140361-23-036070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163668/000114036123036070/brhc20056362_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-036070

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