---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-017459"
form_type: "8-K"
ticker: "SPFI"
cik: "0001163668"
company_name: "SOUTH PLAINS FINANCIAL, INC."
filed_at: "2026-04-28T23:59:59+00:00"
generated_at: "2026-05-15T02:43:59.245804+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# South Plains Financial Q1 net income $14.5M, EPS $0.85; NIM expands to 4.04%; BOH merger closed

## Summary
- Net income $14.5M ($0.85 diluted EPS) vs $12.3M ($0.72) in Q1 2025; down sequentially from Q4 2025 $0.90 EPS.
- Net interest margin (tax-equivalent) 4.04%, up from 3.81% YoY; average deposit cost declined to 1.97%.
- Noninterest expense $35.5M includes $1.5M of acquisition-related costs; provision for credit losses $260K, down sharply.
- BOH acquisition effective April 1, 2026; BOH had $685M assets, $632M loans, $596M deposits as of Mar 31, 2026.
- Tangible book value per share $29.65 (+2.1% QoQ, +13.8% YoY); NPAs/total assets improved to 0.13%.

## SEC filing metadata
- accession: 0001140361-26-017459
- form_type: 8-K
- ticker: SPFI
- cik: 0001163668
- company_name: SOUTH PLAINS FINANCIAL, INC.
- filed_at: 2026-04-28T23:59:59+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/1163668/000114036126017459/0001140361-26-017459-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163668/000114036126017459/ef20071650_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-017459
- JSON: https://secwatch.observer/filing/0001140361-26-017459.json
- Plain text: https://secwatch.observer/filing/0001140361-26-017459.txt

## Key facts
- Earnings Releases
  SOUTH PLAINS FINANCIAL, INC. reported first quarter ended March 31, 2026 results: net income $14.5 million, EPS $0.85.
  - Period: first quarter ended March 31, 2026
  - Net income: $14.5 million
  - EPS: $0.85
  - Result: reported results
  source text: Net income for the first quarter of 2026 was $14.5 million, compared to $15.3 million for the fourth quarter of 2025 and $12.3 million for the first quarter of 2025. ● Diluted earnings per share for the first quarter of 2026 was $0.85, compared to $0.90 for the fourth quarter of 2025 and $0.72 for the first quarter of 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163668/000114036126017459/0001140361-26-017459-index.htm

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