| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 54.18 | 0.9% | 13.0% |
| Total Income | 54.18 | 0.9% | 13.0% |
| Expenditure | 33.52 | 7.0% | 0.3% |
| PBT | 20.66 | 10.9% | 44.4% |
| Net Profit | 16.32 | 11.7% | 45.6% |
| OPM | — | ||
| NPM | 30.12% | 3.40pp | 6.72pp |
| EPS | 1.00 | 11.1% | 47.1% |
South Plains Financial Reports Q3 2025 Net Income of $16.3 Million
04 May 2026 · 4 May, 8:52 am
Summary
South Plains Financial, Inc. reported its financial results for the third quarter ended September 30, 2025. Net income for the third quarter of 2025 was $16.3 million, compared to $14.6 million for the second quarter of 2025 and $11.2 million for the third quarter of 2024. Diluted earnings per share for the third quarter of 2025 was $0.96, compared to $0.86 for the second quarter of 2025 and $0.66 for the third quarter of 2024. Net interest margin was 4.05% for the third quarter of 2025, compared to 4.07% for the second quarter of 2025 and 3.65% for the third quarter of 2024.
Key Highlights
- 1
South Plains Financial reported net income of $16.3 million for the third quarter of 2025, compared to $14.6 million for the second quarter of 2025.
- 2
Diluted earnings per share for the third quarter of 2025 was $0.96, compared to $0.86 for the second quarter of 2025.
- 3
The company's net interest margin was 4.05% for the third quarter of 2025, compared to 3.65% for the third quarter of 2024.
- 4
Return on average assets for the third quarter of 2025 was 1.47%, compared to 1.05% for the third quarter of 2024.
- 5
Tangible book value per share was $28.14 as of September 30, 2025, compared to $25.75 as of September 30, 2024.
- 6
Deposits totaled $3.88 billion as of September 30, 2025, compared to $3.72 billion as of September 30, 2024.
- 7
Loans held for investment were $3.05 billion as of September 30, 2025, essentially unchanged compared to September 30, 2024.
Management Comments
Curtis Griffith
We delivered strong third quarter results highlighted by solid earnings growth as we continued to experience net interest income expansion supported by our low cost, community-based deposit franchise. The credit quality of our loan portfolio also continued to improve as did our return on average assets. Our results demonstrate the strong foundation that we have purposefully built. We have added exceptional talent across the Bank while also making the necessary investments in our technology platform that positions South Plains to efficiently scale our operations as we grow. I believe the Bank is firmly positioned to accelerate our asset growth through both organic expansion and accretive M&A opportunities. While we have been experiencing higher than normal paydowns which has proved a headwind to loan growth, we expect an acceleration in growth next year aided by the expansion of our lending platform where we expect to further increase our lending team by up to 20%. We continue to engage in discussions with potential target banks in our core markets although we are only interested in acquiring a bank that fits our conservative nature and overall culture, and meets our strict criteria for a deal. As a result, we will only do a deal that makes sense for the Bank and our shareholders.
Informational and educational content only. Not investment advice.