South Plains Financial Q2 Net Income $19.0M, EPS $0.96; Dividend +6%
South Plains Financial, Inc. reported strong financial results for the second quarter ended June 30, 2026, with net income rising to $19.0 million and diluted EPS reaching $0.96. The company also announced a 6% increase in its quarterly cash dividend to $0.18 per share. These results were bolstered by the successful integration of the BOH Holdings, Inc. acquisition, which significantly increased loans and deposits. Additionally, the company announced a planned CEO transition, with Curtis Griffith retiring at year-end and Cory Newsom taking over.
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.
- Quarterly cash dividend increased by 6% to $0.18 per share, payable August 10, 2026.
- Completed the merger of BOH Holdings, Inc. and Bank of Houston effective April 1, 2026.
- Loans held for investment increased by $667.3 million to $3.77 billion as of June 30, 2026, primarily due to the acquisition.
- Deposits totaled $4.64 billion as of June 30, 2026, up $613.0 million from March 31, 2026.
- Return on average assets for Q2 2026 was 1.44%, up from 1.31% in Q1 2026.
- CEO Curtis Griffith will retire at year-end, with President Cory Newsom becoming CEO.
Price Impact
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