---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-015462"
form_type: "8-K"
ticker: "SPFI"
cik: "0001163668"
company_name: "SOUTH PLAINS FINANCIAL, INC."
filed_at: "2025-04-24T23:59:59+00:00"
generated_at: "2026-05-23T06:44:08.539644+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SPFI Q1 net income $12.3M ($0.72 EPS) vs $10.9M a year ago; NIM 3.81%, credit quality improves

## Summary
- Net income $12.3M (diluted EPS $0.72) versus $10.9M ($0.64) in Q1 2024; sequentially down from $16.5M.
- Net interest margin (tax-equiv) improved to 3.81% from 3.75% in Q4 2024 and 3.56% a year ago; deposit cost fell 10 bps.
- Nonperforming assets to total assets fell to 0.16% from 0.58% at year-end; $19M credit returned to accrual and repaid post-quarter.
- Deposits increased $171.6M (4.7%) from Q4 2024 to $3.79B; loans held for investment grew $20.8M (2.7% annualized).
- SPFI repurchased 250,000 shares for $8.3M in Q1; ~$7M remains under buyback program.

## SEC filing metadata
- accession: 0001140361-25-015462
- form_type: 8-K
- ticker: SPFI
- cik: 0001163668
- company_name: SOUTH PLAINS FINANCIAL, INC.
- filed_at: 2025-04-24T23:59:59+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/1163668/000114036125015462/0001140361-25-015462-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163668/000114036125015462/ef20047853_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-015462
- JSON: https://secwatch.observer/filing/0001140361-25-015462.json
- Plain text: https://secwatch.observer/filing/0001140361-25-015462.txt

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