secwatch.observer — SEC 8-K summary
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Issuer:     SOUTH PLAINS FINANCIAL, INC. (SPFI)
CIK:        0001163668
Form:       8-K
Filed at:   2026-04-28T23:59:59+00:00
Accession:  0001140361-26-017459
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1163668/000114036126017459/0001140361-26-017459-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1163668/000114036126017459/ef20071650_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-017459

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