---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-003974"
form_type: "8-K"
ticker: "SPFI"
cik: "0001163668"
company_name: "SOUTH PLAINS FINANCIAL, INC."
filed_at: "2024-01-26T23:59:59+00:00"
generated_at: "2026-06-06T16:25:14.616989+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# South Plains Q4 net income $10.3M ($0.61 EPS), down from $12.6M YoY; full year EPS $3.62

## Summary
- Net income Q4 2023 $10.3M vs $13.5M Q3 2023 and $12.6M Q4 2022.
- Net interest margin (tax-equiv) 3.52% flat QoQ; deposit cost rose to 224 bps from 207 bps Q3.
- Loans held for investment grew 9.7% YoY to $3.01B; nonperforming assets only 0.14% of total assets.
- Tangible book value per share $23.47, up 11.4% from Q3; $15M buyback program exhausted.
- Windmark sale in Q2 netted $22.9M gain; redeemed $12.4M in subordinated notes in Dec 2023.

## SEC filing metadata
- accession: 0001140361-24-003974
- form_type: 8-K
- ticker: SPFI
- cik: 0001163668
- company_name: SOUTH PLAINS FINANCIAL, INC.
- filed_at: 2024-01-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163668/000114036124003974/0001140361-24-003974-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163668/000114036124003974/ef20019822_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-003974
- JSON: https://secwatch.observer/filing/0001140361-24-003974.json
- Plain text: https://secwatch.observer/filing/0001140361-24-003974.txt

## Key facts
- Earnings Releases
  SOUTH PLAINS FINANCIAL, INC. reported quarter and year ended December 31, 2023 results: net income $10.3 million, EPS $0.61.
  - Period: quarter and year ended December 31, 2023
  - Net income: $10.3 million
  - EPS: $0.61
  - Result: reported results
  source text: Net income for the fourth quarter of 2023 was $10.3 million, compared to $13.5 million for the third quarter of 2023 and $12.6 million for the fourth quarter of 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163668/000114036124003974/0001140361-24-003974-index.htm

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