South Plains Financial (SPFI) investor relations material

Executive summary

• Q3 net income was $20.8M and diluted EPS was $1.06, both higher QoQ; tax-equivalent NIM held at 4.00%.

• HFI loans grew $59.7M, or 6.3% annualized, and deposits reached $4.66B; BOH integration and system conversion were completed.

Financial highlights

• Net income rose to $20.8M from $19.0M QoQ; diluted EPS increased to $1.06 from $0.96.

• Net interest income was $51.5M, up from $50.3M QoQ and $43.0M YoY; tax-equivalent NIM remained 4.00%.

• Noninterest income was $13.8M vs. $14.1M QoQ, including $4.88M in mortgage banking revenue and a $1.6M MSR fair-value increase; card and interchange revenue fell after Q2 incentives.

• Noninterest expense declined to $38.1M from $39.9M QoQ; the efficiency ratio improved to 58.12% from 61.59%. Expenses were up $5.1M YoY, largely reflecting BOH operating costs and salary adjustments.

• Nine-month net income was $54.3M vs. $43.2M in 9M 2025; Q3 pre-tax, pre-provision income was $27.2M vs. $21.2M a year earlier.

Outlook and guidance

• FY loan growth guidance remains mid-single digits; management cited a healthy pipeline and confidence in the target despite anticipated Q4 payoffs.

• Management aims to maintain NIM near current levels as the balance sheet grows and described overall sensitivity to 25–50 bps rate moves as limited.

• Q4 expenses are expected to be lower; dollar expenses may rise in 2027 with growth and hiring, while expense as a percentage of revenue is not expected to increase.