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South Plains Financial (SPFI) investor relations material
South Plains Financial Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary23 Oct, 2025
Executive summary
Net income for Q3 2025 was $16.3 million ($0.96 per diluted share), up from $14.6 million in Q2 2025 and $11.2 million in Q3 2024, with strong earnings growth, net interest income expansion, and improved credit quality.
Return on average assets improved to 1.47% from 1.34% in Q2 2025 and 1.05% in Q3 2024; return on average equity was 13.89% in Q3 2025.
Tangible book value per share increased to $28.14 from $26.70 in Q2 2025 and $25.75 in Q3 2024; book value per share rose to $29.41.
Investments in talent and technology have positioned the company for scalable growth, with plans to grow the lending team by up to 20% and active M&A discussions.
Total assets grew to $4.48 billion as of September 30, 2025, a 5.8% increase from year-end.
Financial highlights
Net interest income for Q3 2025 was $43.0 million, up from $42.5 million in Q2 2025 and $37.3 million in Q3 2024; net interest margin was 4.05% (3.99% excluding one-time items).
Noninterest income was $11.2 million, down from $12.2 million in Q2 2025 but up from $10.6 million in Q3 2024, mainly due to lower mortgage banking revenues.
Noninterest expense was $33.0 million, down from $33.5 million in Q2 2025 and nearly flat year-over-year, with lower professional service expenses.
Provision for credit losses was $500 thousand, down from $2.5 million in Q2 2025 and similar to $495 thousand in Q3 2024.
Deposits increased by $142.2 million to $3.88 billion, with non-interest-bearing deposits rising to 27% of total deposits.
Outlook and guidance
Management expects loan paydowns to moderate and loan growth to accelerate in 2026, aided by lending platform expansion and new hires.
Optimistic about organic loan growth and continued resilience in Texas markets, with a focus on selective M&A.
NIM expected to remain stable or decline slightly in the near term due to rate environment and deposit repricing.
Management will continue to manage expenses to drive profitability.
The company believes it has adequate liquidity and capital to support ongoing operations and growth.
Impact of loan paydowns on growth strategy?
What drives M&A deal selectivity?
Future impact of debt redemption on funding costs?
New lender loan production impact?
M&A target characteristics and outlook?
Indirect auto credit score migration impact?
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Next South Plains Financial earnings date
Q4 202526 Jan, 2026
Next South Plains Financial earnings date
Q4 202526 Jan, 2026
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Frequently asked questions
South Plains Financial Inc is a bank holding company that operates through its subsidiary, City Bank. The company provides commercial and retail banking, mortgage lending, and wealth management services. Its operations serve individuals, businesses, and agricultural clients primarily in Texas and surrounding states through a network of full-service banking centers. South Plains Financial Inc is headquartered in Lubbock, Texas, and its shares are listed on the NASDAQ.
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