Quarterly ResultMay 5, 2026, 05:27 PM
SOUTH PLAINS FINANCIAL Q1 Net Income $14.5M, EPS $0.89
AI Summary
SOUTH PLAINS FINANCIAL, INC. reported a significant increase in net income and earnings per share for the first quarter of 2026. Net income rose to $14.5 million, up from $12.3 million in the prior year, with basic EPS increasing to $0.89. The company also saw growth in total assets and deposits, reaching $4.65 billion and $4.03 billion respectively. The company is also preparing for the accounting integration of its acquisition of BOH Holdings, Inc.
Key Highlights
- Net income for Q1 2026 increased to $14.545 million from $12.294 million in Q1 2025.
- Basic earnings per share rose to $0.89 in Q1 2026 from $0.75 in Q1 2025.
- Diluted earnings per share increased to $0.85 in Q1 2026 from $0.72 in Q1 2025.
- Net interest income grew to $42.852 million in Q1 2026 from $38.527 million in Q1 2025.
- Total assets increased to $4.646 billion at March 31, 2026, from $4.481 billion at December 31, 2025.
- Total deposits grew to $4.028 billion at March 31, 2026, from $3.874 billion at December 31, 2025.
- Cash dividends declared were $0.17 per share in Q1 2026, up from $0.15 per share in Q1 2025.
- The company plans to early adopt ASU 2025-08 in Q2 2026 for the BOH Holdings, Inc. acquisition.
Price Impact
More from SPFI