S
SOUTH PLAINS FINANCIAL, INC.
Period
FY 2025
Revenue
—
Net Income
$58.47M
Total Assets
$4.48B
Equity
$493.84M
Shares Out
19.15M
Op. Cash Flow
$77.49M
Business
South Plains Financial, Inc. is a bank holding company that operates City Bank, an independent bank serving small and medium-sized businesses and individuals across West Texas and New Mexico. The company provides commercial and retail banking, deposit-taking, lending, trust, investment, and mortgage services through a network of full-service branches and loan production offices. City Bank maintains a relationship-based credit culture focused on local markets with active risk management.
Summary from 10-K filed 2026-03-05
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loans, including fees | 211 | 202 | 177 | 138 | 121 | |
| Taxable | 19 | 21 | 22 | 15 | 9 | |
| Non-taxable | 3 | 3 | 4 | 5 | 5 | |
| Federal funds sold and interest-bearing deposits in banks | 19 | 14 | 10 | 4 | 412,000 | |
| Total interest income | 252 | 241 | 212 | 161 | 135 | |
| Deposits | 79 | 87 | 65 | 17 | 8 | |
| Notes payable & other borrowings | 0 | 0 | 5,000 | 0 | 43,000 | |
| Subordinated debt | 3 | 3 | 4 | 4 | 4 | |
| Junior subordinated deferrable interest debentures | 3 | 3 | 3 | 2 | 880,000 | |
| Total interest expense | 85 | 94 | 72 | 23 | — | |
| Net interest income | 167 | 147 | 140 | 138 | 122 | |
| Provision for credit losses | 5 | 4 | 5 | −3 | −2 | |
| Net interest income, after provision for credit losses | 162 | 143 | 135 | 141 | 124 | |
| Service charges on deposit accounts | 9 | 8 | 7 | 7 | 7 | |
| Net gain on sales of loans | 10 | 11 | 11 | 21 | 51 | |
| Bank card services and interchange fees | 14 | 14 | 13 | 13 | 12 | |
| Other mortgage banking income | 1 | 4 | 3 | 11 | 9 | |
| Investment commissions | 2 | 2 | 2 | 2 | 2 | |
| Fiduciary fees | 3 | 3 | 2 | 2 | 3 | |
| Gain on sale of subsidiary | 0 | 0 | 34 | 0 | 0 | |
| Other | 7 | 8 | 7 | 10 | 5 | |
| Total noninterest income | 45 | 48 | 79 | 76 | 97 | |
| Salaries and employee benefits | 77 | 74 | 79 | 86 | 93 | |
| Occupancy and equipment, net | 16 | 16 | 16 | 16 | 15 | |
| Professional services | 7 | 7 | 6 | 10 | 7 | |
| Marketing and development | 4 | 4 | 3 | 4 | 3 | |
| IT and data services | 5 | 4 | 3 | 4 | 4 | |
| Bank card expenses | 6 | 6 | 6 | 2 | 3 | |
| Realized loss on sale of securities | 0 | 0 | 3 | 0 | 0 | |
| Other | 17 | 17 | 17 | 18 | 18 | |
| Total noninterest expense | 133 | 128 | 135 | 144 | 148 | |
| Income before income taxes | 74 | 63 | 79 | 73 | 73 | |
| Income tax expense | 16 | 14 | 17 | 15 | 15 | |
| Net income | 58 | 50 | 63 | 58 | 59 | |
| Basic (in Dollars per share) | 3.59 | 3.03 | 3.73 | 3.35 | 3.26 | |
| Diluted (in Dollars per share) | 3.44 | 2.92 | 3.62 | 3.23 | 3.17 | |
| Unrealized gains (losses) on securities available for sale | 22 | −10 | 17 | −114 | −15 | |
| Less: Change in fair value on hedged state and municipal securities | −5 | −2 | −4 | 15 | 6 | |
| Reclassification adjustment for loss on sale of securities | 0 | 0 | 3 | 0 | 0 | |
| Tax effect | −3 | 2 | −4 | 21 | 2 | |
| Other comprehensive income (loss) | 13 | −9 | 13 | −79 | −8 | |
| Comprehensive income | 71 | 41 | 76 | −21 | 51 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 58 | 54 | 63 | 62 | 68 | |
| Interest-bearing deposits in banks | 494 | 305 | 267 | 173 | 418 | |
| Cash and cash equivalents | 552 | 359 | 330 | 235 | 487 | |
| Securities available for sale | 568 | 577 | 623 | 702 | 725 | |
| Loans held for sale ($7,796 and $13,791 at fair value at December 31, 2025 and 2024, respectively) | 10 | 21 | 14 | 30 | 77 | |
| Loans held for investment | 3,145 | 3,055 | 3,014 | 2,748 | 2,438 | |
| Allowance for credit losses on loans | −45 | −43 | −42 | −39 | −42 | |
| Loans held for investment, net | 3,099 | 3,012 | 2,972 | 2,709 | 2,395 | |
| Accrued interest receivable | 21 | 22 | 21 | 16 | 14 | |
| Premises and equipment, net | 52 | 53 | 55 | 56 | 58 | |
| Bank-owned life insurance | 78 | 76 | 75 | 73 | 72 | |
| Goodwill | 19 | 19 | 19 | 20 | 20 | |
| Intangible assets, net | 1 | 2 | 2 | 4 | 6 | |
| Mortgage servicing rights | 24 | 26 | 27 | 27 | 20 | |
| Deferred tax asset, net | 20 | 23 | 19 | 23 | 3 | |
| Other assets | 36 | 43 | 47 | 48 | 27 | |
| Total assets | 4,481 | 4,232 | 4,205 | 3,944 | 3,902 | |
| Noninterest-bearing | 1,024 | 936 | 974 | 1,150 | 1,071 | |
| Interest-bearing | 2,851 | 2,685 | 2,652 | 2,256 | 2,270 | |
| Total deposits | 3,874 | 3,621 | 3,626 | 3,406 | 3,341 | |
| Accrued expenses and other liabilities | 52 | 62 | 61 | 58 | 31 | |
| Subordinated debt | 14 | 64 | 64 | 76 | 76 | |
| Junior subordinated deferrable interest debentures | 46 | 46 | 46 | 46 | 46 | |
| Total liabilities | 3,987 | 3,793 | 3,798 | 3,587 | 3,494 | |
| Common stock, $1.00 par value per share, 30,000,000 shares authorized; 16,293,577 and 16,455,826 issued and outstanding at December 31, 2025 and 2024, respectively | 16 | 16 | 16 | 17 | 18 | |
| Additional paid-in capital | 91 | 97 | 97 | 113 | 133 | |
| Retained earnings | 434 | 386 | 345 | 292 | 243 | |
| Accumulated other comprehensive loss | −48 | −61 | −52 | −65 | 14 | |
| Total stockholders equity | 494 | 439 | 407 | 357 | 407 | |
| Total liabilities and stockholders equity | 4,481 | 4,232 | 4,205 | 3,944 | 3,902 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Provision for foreclosed asset losses | 100,000 | 108,000 | 142,000 | 0 | 0 | |
| Depreciation and amortization | 6 | 7 | 6 | 7 | 6 | |
| Accretion and amortization | 3 | 3 | 3 | 4 | 5 | |
| Other gains, net | −284,000 | −216,000 | −275,000 | −166,000 | −729,000 | |
| Proceeds from sales of loans held for sale | 288 | 296 | 348 | 662 | 1,514 | |
| Loans originated for sale | −269 | −293 | −322 | −598 | −1,437 | |
| Deferred income tax expense (benefit) | −1 | −1 | 99,000 | 1 | 1 | |
| Earnings on bank-owned life insurance | −2 | −2 | −1 | −1 | −1 | |
| Stock-based compensation | 3 | 2 | 2 | 3 | 2 | |
| Change in valuation of mortgage servicing rights | 3 | 1 | 2 | −5 | −1 | |
| Accrued interest receivable and other assets | 3 | 1 | −9 | −1 | 3 | |
| Accrued expenses and other liabilities | −10 | 742,000 | 3 | 17 | −191,000 | |
| Net cash from operating activities | 77 | 59 | 59 | 124 | 96 | |
| Purchases | −421 | −305 | −200 | −177 | −62 | |
| Sales | 0 | 0 | 53 | 0 | 0 | |
| Maturities, prepayments, and calls | 450 | 338 | 240 | 81 | 120 | |
| Loan originations and principal collections, net | −96 | −46 | −270 | −311 | −218 | |
| Purchases of premises and equipment | −6 | −3 | −5 | −4 | −3 | |
| Proceeds from sales of premises and equipment | 2 | 380,000 | 968,000 | 480,000 | 1 | |
| Proceeds from sale of subsidiary | 0 | 0 | 36 | 0 | 0 | |
| Capital improvements to foreclosed assets | −131,000 | 0 | 0 | — | — | |
| Proceeds from sales of foreclosed assets | 2 | 2 | 1 | 2 | 1 | |
| Net cash from investing activities | −68 | −14 | −143 | −409 | −160 | |
| Net change in deposits | 253 | −5 | 220 | 65 | 367 | |
| Proceeds from common stock issuance | 451,000 | 0 | 0 | — | 0 | |
| Payments to tax authorities for stock-based compensation | −933,000 | −759,000 | −731,000 | −1 | −625,000 | |
| Payments made on subordinated debt | −50 | 0 | −12 | 0 | 0 | |
| Cash dividends paid on common stock | −10 | −9 | −9 | −8 | −5 | |
| Payments to repurchase common stock | −9 | −1 | −18 | −23 | −9 | |
| Net cash from financing activities | 184 | −17 | 180 | 33 | 250 | |
| Net change in cash and cash equivalents | 193 | 29 | 95 | −252 | 187 | |
| Interest paid on deposits and borrowed funds | 86 | 93 | 70 | 22 | 13 | |
| Loans transferred to foreclosed assets | 3 | 2 | 2 | 764,000 | 927,000 | |
| Premises and equipment transferred to foreclosed assets | 0 | 0 | 172,000 | 0 | 0 | |
| Additions to mortgage servicing rights | 1 | 958,000 | 1 | 3 | 9 |
Filings
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Holdings (13F)
Portfolio as of 2025-12-31 · 344 positions
Reported AUM
$167.94M
Holdings
344
Top sector
$167.94M
Top sectors
| Sector | Value | % of portfolio |
|---|---|---|
| Uncategorized | $167.94M | 100.0% |
Top holdings
| Issuer | Ticker | Shares | Value | % |
|---|---|---|---|---|
| ISHARES TR | — | 132.8K | $11.88M | 7.1% |
| APPLE INC | — | 27.2K | $7.40M | 4.4% |
| MICROSOFT CORP | — | 13.5K | $6.52M | 3.9% |
| ALPHABET INC | — | 20.6K | $6.44M | 3.8% |
| ISHARES TR | — | 90.2K | $5.95M | 3.5% |
| NVIDIA CORPORATION | — | 28.9K | $5.38M | 3.2% |
| ISHARES TR | — | 6.5K | $4.45M | 2.6% |
| AMAZON COM INC | — | 18.6K | $4.30M | 2.6% |
| ISHARES INC | — | 58.1K | $3.90M | 2.3% |
| ISHARES TR | — | 31.2K | $3.00M | 1.8% |
Frequently asked questions
What is SOUTH PLAINS FINANCIAL, INC.'s CIK number?
SOUTH PLAINS FINANCIAL, INC.'s SEC CIK number is 0001163668 (1163668). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find SOUTH PLAINS FINANCIAL, INC.'s SEC filings?
All of SOUTH PLAINS FINANCIAL, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did SOUTH PLAINS FINANCIAL, INC. last report earnings?
SOUTH PLAINS FINANCIAL, INC. (SPFI) most recently filed an earnings 8-K with the SEC on Apr 28, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001140361-26-017459). This is SOUTH PLAINS FINANCIAL, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is SOUTH PLAINS FINANCIAL, INC.'s most recent earnings 8-K?
SOUTH PLAINS FINANCIAL, INC.'s latest earnings 8-K (Item 2.02) was filed Apr 28, 2026 under accession 0001140361-26-017459. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View SOUTH PLAINS FINANCIAL, INC.'s latest earnings 8-K →
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