---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-044020"
form_type: "8-K"
ticker: "SPFI"
cik: "0001163668"
company_name: "SOUTH PLAINS FINANCIAL, INC."
filed_at: "2024-10-23T23:59:59+00:00"
generated_at: "2026-05-30T10:58:18.412141+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# South Plains Q3 net income $11.2M, EPS $0.66 flat QoQ; NIM expands to 3.65%

## Summary
- Net income $11.2M vs $11.1M Q2; diluted EPS $0.66 unchanged; YoY net income down from $13.5M.
- Net interest margin (tax-equiv) 3.65% vs 3.63% Q2; average loan yield 6.68%, deposit cost 247bps.
- Nonperforming assets to total assets rose to 0.59% from 0.57% Q2 and 0.12% YoY; $20M multi-family credit remains nonaccrual.
- Tangible book value per share $25.75, up 6.6% from $24.15 Q2; deposits grew $94.8M QoQ to $3.72B.
- CEO notes strongest loan pipeline in over two years; expects deposit cost pressures to ease and loan growth to accelerate.

## SEC filing metadata
- accession: 0001140361-24-044020
- form_type: 8-K
- ticker: SPFI
- cik: 0001163668
- company_name: SOUTH PLAINS FINANCIAL, INC.
- filed_at: 2024-10-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163668/000114036124044020/0001140361-24-044020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163668/000114036124044020/ef20037571_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-044020
- JSON: https://secwatch.observer/filing/0001140361-24-044020.json
- Plain text: https://secwatch.observer/filing/0001140361-24-044020.txt

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