Quarterly ResultApr 28, 2026, 04:38 PM
SPFI Q1 Net Income $14.5M, EPS $0.85; BOH Merger Completed
AI Summary
South Plains Financial, Inc. reported Q1 2026 net income of $14.5 million, or $0.85 diluted EPS, compared to $15.3 million and $0.90 diluted EPS in Q4 2025. The company achieved a net interest margin of 4.04% and saw deposits increase to $4.03 billion. SPFI also announced the successful completion of its merger with BOH Holdings, Inc. and Bank of Houston, effective April 1, 2026, and will host a conference call to discuss results.
Key Highlights
- Completed merger of BOH Holdings, Inc. and Bank of Houston effective April 1, 2026.
- Q1 2026 net income was $14.5 million, down from $15.3 million in Q4 2025.
- Diluted EPS for Q1 2026 was $0.85, down from $0.90 in Q4 2025.
- Net interest margin (tax-equivalent) was 4.04% in Q1 2026, up from 4.00% in Q4 2025.
- Total deposits increased to $4.03 billion as of March 31, 2026, up 4.0% QoQ.
- Tangible book value per share was $29.65 as of March 31, 2026.
- Nonperforming assets to total assets improved to 0.13% as of March 31, 2026.
- BOH had $685.0 million in assets, $631.9 million in loans, and $595.6 million in deposits.