---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-022078"
form_type: "8-K"
ticker: "SPFI"
cik: "0001163668"
company_name: "SOUTH PLAINS FINANCIAL, INC."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T07:31:12.838423+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# South Plains Q1 net income $10.9M ($0.64 EPS); NIM expands to 3.56%

## Summary
- Net income $10.9M vs $10.3M Q4 2023 and $9.2M Q1 2023; diluted EPS $0.64.
- Net interest margin (tax-equivalent) 3.56%, up from 3.52% Q4 2023; loan yield 6.53%.
- Nonperforming assets to total assets 0.10%, improved from 0.14% at Q4 2023.
- Average cost of deposits 241 bps vs 224 bps Q4 2023; deposit growth modest.
- Provision for credit losses $830k; tangible book value per share $23.56.

## SEC filing metadata
- accession: 0001140361-24-022078
- form_type: 8-K
- ticker: SPFI
- cik: 0001163668
- company_name: SOUTH PLAINS FINANCIAL, INC.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163668/000114036124022078/0001140361-24-022078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163668/000114036124022078/ef20027709_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-022078
- JSON: https://secwatch.observer/filing/0001140361-24-022078.json
- Plain text: https://secwatch.observer/filing/0001140361-24-022078.txt

## Key facts
- Earnings Releases
  SOUTH PLAINS FINANCIAL, INC. reported the quarter ended March 31, 2024 results: net income $10.9 million, EPS $0.64.
  - Period: the quarter ended March 31, 2024
  - Net income: $10.9 million
  - EPS: $0.64
  - Result: reported results
  source text: On April 25, 2024, South Plains Financial, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163668/000114036124022078/0001140361-24-022078-index.htm

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