South Plains Financial, Inc. (SPFI) Income Statement Analysis

See more : JB&ZJMY Holding Company, Inc. (JBZY) Income Statement Analysis – Financial Results

Complete financial analysis of South Plains Financial, Inc. (SPFI) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of South Plains Financial, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.

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South Plains Financial, Inc. (SPFI)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.spfi.bank

About South Plains Financial, Inc.

South Plains Financial, Inc. operates as a bank holding company for City Bank that provides commercial and consumer financial services to small and medium-sized businesses and individuals. The company operates through two segments, Banking and Insurance. It offers deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificate of deposits. The company also provides commercial real estate loans; general and specialized commercial loans, including agricultural production and real estate, energy, finance, investment, and insurance loans, as well as loans to goods, services, restaurant and retail, construction, and other industries; residential construction loans; and 1-4 family residential loans, auto loans, and other loans for recreational vehicles or other purposes. In addition, it offers crop insurance products; trust products and services; investment services; mortgage banking services; online and mobile banking services; and debit and credit cards. The company operates 25 full-service banking locations; and 15 loan production offices located throughout Texas and Eastern New Mexico. South Plains Financial, Inc. was founded in 1941 and is headquartered in Lubbock, Texas.

Metric	2023	2022	2021	2020	2019	2018	2017
Revenue	210.95M	214.62M	219.23M	221.57M	161.21M	144.99M	133.55M
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	210.95M	214.62M	219.23M	221.57M	161.21M	144.99M	133.55M
Gross Profit Ratio	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	79.38M	86.32M	93.36M	89.22M	75.39M	71.78M	67.13M
Selling & Marketing	3.45M	3.61M	3.23M	3.09M	3.02M	3.05M	2.99M
SG&A	82.83M	89.94M	96.59M	92.31M	78.41M	74.83M	70.12M
Other Expenses	0.00	-86.32M	-242.70M	-257.28M	-202.92M	-174.18M	-163.96M
Operating Expenses	131.54M	3.61M	-146.11M	-164.97M	-124.51M	-97.12M	-93.84M
Cost & Expenses	131.54M	3.61M	-146.11M	-164.97M	-124.51M	-97.12M	-93.84M
Interest Income	212.03M	161.17M	135.04M	138.23M	132.94M	118.09M	104.44M
Interest Expense	72.29M	22.69M	13.27M	15.95M	28.37M	22.48M	15.98M
Depreciation & Amortization	0.00	5.10M	6.50M	6.50M	5.26M	5.19M	5.28M
EBITDA	0.00	80.12M	91.55M	0.00	0.00	51.96M	49.42M
EBITDA Ratio	0.00%	47.90%	36.29%	28.51%	26.01%	36.59%	33.70%
Operating Income	79.42M	95.84M	73.12M	56.60M	36.70M	47.87M	39.72M
Operating Income Ratio	37.65%	44.66%	33.35%	25.55%	22.77%	33.02%	29.74%
Total Other Income/Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income Before Tax	79.42M	73.15M	73.12M	56.60M	36.70M	25.39M	23.74M
Income Before Tax Ratio	37.65%	34.08%	33.35%	25.55%	22.77%	17.51%	17.78%
Income Tax Expense	16.67M	14.91M	14.51M	11.25M	7.48M	-3.90M	107.00K
Net Income	62.75M	58.24M	58.61M	45.35M	29.22M	29.29M	23.64M
Net Income Ratio	29.74%	27.14%	26.74%	20.47%	18.13%	20.20%	17.70%
EPS	3.62	3.35	3.26	2.51	1.74	1.68	1.35
EPS Diluted	3.62	3.23	3.17	2.47	1.71	1.68	1.35
Weighted Avg Shares Out	17.33M	17.37M	17.95M	18.05M	16.82M	17.47M	17.47M
Weighted Avg Shares Out (Dil)	17.33M	18.02M	18.49M	18.34M	17.04M	17.47M	17.47M

Earnings Preview: South Plains Financial (SPFI) Q2 Earnings Expected to Decline

July 18, 2023zacks.com

South Plains Financial (SPFI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

South Plains Financial, Inc. Announces Second Quarter 2023 Earnings Call

July 11, 2023globenewswire.com

LUBBOCK, Texas, July 11, 2023 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank, today announced that its second quarter 2023 financial results will be released after market close on...

South Plains Financial, Inc. (SPFI) Q1 2023 Earnings Call Transcript

April 29, 2023seekingalpha.com

South Plains Financial, Inc. (NASDAQ:SPFI ) Q1 2023 Results Conference Call April 27, 2023 5:00 PM ET Company Participants Steve Crockett - CFO and Treasurer Curtis Griffith - Chairman and CEO Cory Newsom - President Brent Bates - Chief Credit...

South Plains Financial (SPFI) Misses Q1 Earnings and Revenue Estimates

April 27, 2023zacks.com

South Plains Financial (SPFI) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.78 per share a year ago.

South Plains Financial Inc. (SPFI) Q4 2022 Earnings Call Transcript

January 26, 2023seekingalpha.com

South Plains Financial Inc. (NASDAQ:SPFI ) Q4 2022 Earnings Conference Call January 26, 2023 5:00 PM ET Company Participants Steve Crockett – Chief Financial Officer and Treasurer Curtis Griffith – Chairman and Chief Executive Officer Cory Newsom – President Conference...

South Plains Financial (SPFI) Tops Q4 Earnings Estimates

January 26, 2023zacks.com

South Plains Financial (SPFI) delivered earnings and revenue surprises of 14.52% and 3.55%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

South Plains Financial (SPFI) Is a Great Choice for 'Trend' Investors, Here's Why

December 1, 2022zacks.com

South Plains Financial (SPFI) could be a great choice for investors looking to make a profit from fundamentally strong stocks that are currently on the move. It is one of the several stocks that made it through our "Recent Price...

Here's Why Momentum in South Plains Financial (SPFI) Should Keep going

November 8, 2022zacks.com

South Plains Financial (SPFI) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.

South Plains Financial, Inc. (SPFI) Q3 2022 Earnings Call Transcript

October 21, 2022seekingalpha.com

South Plains Financial, Inc. (NASDAQ:SPFI ) Q3 2022 Earnings Conference Call October 21, 2022 11:00 AM ET Company Participants Steven Crockett - Chief Financial Officer and Treasurer Curtis Griffith - Chairman and Chief Executive Officer Cory Newsom - Director and...