secwatch.observer — SEC 8-K summary
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Issuer:     SOUTH PLAINS FINANCIAL, INC. (SPFI)
CIK:        0001163668
Form:       8-K
Filed at:   2025-10-23T23:59:59+00:00
Accession:  0001140361-25-039095
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

South Plains Q3 2025 net income $16.3M, EPS $0.96; NIM 4.05%, redeemed $50M sub debt
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- Net income $16.3M ($0.96 diluted EPS) vs $14.6M ($0.86) in Q2 2025 and $11.2M ($0.66) a year ago.
- Net interest margin (tax-equivalent) 4.05%, up from 3.65% YoY; avg cost of deposits 210 bps, down 37 bps YoY.
- Redeemed $50M in subordinated debt on Sep 30, 2025; no replacement debt issued.
- Nonperforming assets / total assets improved to 0.26% from 0.59% a year ago; provision for credit losses $500K.
- Tangible book value per share $28.14, up from $25.75 a year ago; return on avg assets 1.47%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163668/000114036125039095/0001140361-25-039095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163668/000114036125039095/ef20057565_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-039095

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