Quarterly ResultJul 17, 2026, 06:27 AM
South Plains Financial Q2 Net Income $19.0M, EPS $0.96; BOH Merger Boosts Growth
AI Summary
South Plains Financial reported strong second-quarter 2026 financial results, with net income increasing to $19.0 million and diluted EPS rising to $0.96. These results were significantly boosted by the successful integration of the BOH Holdings acquisition, effective April 1, 2026, which added substantial assets, loans, and deposits. The company also announced that Chairman and CEO Curtis Griffith will retire at year-end, with President Cory Newsom taking over leadership.
Key Highlights
- Net income for Q2 2026 was $19.0 million, up from $14.5 million in Q1 2026 and $14.6 million in Q2 2025.
- Diluted earnings per share for Q2 2026 was $0.96, compared to $0.85 in Q1 2026 and $0.86 in Q2 2025.
- The BOH Holdings acquisition, effective April 1, 2026, added $685.0 million in assets, $631.9 million in loans, and $595.6 million in deposits.
- Loans held for investment increased to $3.77 billion as of June 30, 2026, from $3.10 billion as of March 31, 2026.
- Total deposits reached $4.64 billion as of June 30, 2026, up from $4.03 billion as of March 31, 2026.
- Return on average assets for Q2 2026 was 1.44%, up from 1.31% in Q1 2026.
- Nonperforming assets to total assets improved to 0.19% as of June 30, 2026, from 0.25% a year ago.
- Chairman and CEO Curtis Griffith will retire at year-end, with President Cory Newsom succeeding him.
Price Impact
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