SOUTH PLAINS FINANCIAL, INC. SPFI

Financials SIC 6022 - State Commercial Banks NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Commercial Banking derived Nasdaq

South Plains Financial, Inc. (the "Company" or "SPFI") is a bank holding company headquartered in Lubbock, Texas, and City Bank, SPFI's wholly-owned banking subsidiary, is one of

the largest independent banks in West Texas ("City Bank" or the "Bank"). The Company is hereafter collectively referred to as "we," "us" or "our."

We have additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. Through

City Bank, we provide a wide range of commercial and consumer financial services to small and medium-sized businesses and individuals in our market areas. Our principal business activities include commercial and retail banking, along with investment,

Last close 43.02 2026-10-23
Market cap $810.5M 2026-06-30 share count
52-week range 35.34 - 46.94

Valuation FY2025 figures against the last close

P/S3.2x
P/E12.5x
P/FCF11.3x
EV/EBITDA—
Dividend yield1.2%
Diluted EPS3.44

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $252.0M$240.9M$212.0M$161.2M$135.0M$138.2M$132.9M$118.1M—
Interest expense $167.0M$147.1M$139.7M$138.5M$13.3M$15.9M$28.4M$22.5M—
Pre-tax income $74.1M$63.3M$79.4M$73.2M$73.1M$56.6M$36.7M$25.4M—
Income tax $15.6M$13.6M$16.7M$14.9M$14.5M$11.2M$7.5M$3.9M—
Net income $58.5M$49.7M$62.7M$58.2M$58.6M$45.4M$29.2M$29.3M—
EPS, basic 3.593.033.733.353.262.511.741.98—
EPS, diluted 3.442.923.623.233.172.471.711.98—
Shares, diluted (wtd. avg.) 17.0M17.0M17.3M18.0M18.5M18.3M17.0M14.8M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $552.4M$359.1M$330.2M$234.9M$486.8M$300.3M$158.1M$246.0M$294.6M
Property, plant and equipment $51.6M$53.0M$55.1M$56.3M$57.7M$60.3M$61.9M$59.8M—
Goodwill $19.3M$19.3M$19.3M$19.5M$19.5M$19.5M$18.8M$0$0
Other intangibles $1.1M$1.7M$2.4M$4.3M$5.9M$7.6M$8.6M$0—
Total assets $4.48B$4.23B$4.20B$3.94B$3.90B$3.60B$3.24B$2.71B—
Short-term debt ————$0$26.6M$37.2M$17.7M—
Total liabilities $3.99B$3.79B$3.80B$3.59B$3.49B$3.23B$2.93B$2.50B—
Retained earnings $434.2M$385.8M$345.3M$292.3M$242.8M$189.5M$146.7M$119.8M—
Total equity $493.8M$438.9M$407.1M$357.0M$407.4M$370.0M$306.2M$154.6M$158.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $77.5M$59.4M$58.5M$123.6M$96.3M$5.6M$30.5M$26.9M—
Depreciation and amortisation $5.8M$6.5M$6.4M$7.0M$6.4M$6.6M$5.2M$5.2M—
Stock-based compensation $2.6M$2.3M$2.2M$2.8M$1.6M$1.3M$853.0K$0—
Capital expenditure $5.7M$3.4M$4.7M$4.5M$2.9M$3.3M$4.0M$3.1M—
Investing cash flow -$68.2M-$13.9M-$143.4M-$408.9M-$159.8M-$156.2M-$213.5M-$184.1M—
Financing cash flow $184.1M-$16.5M$180.1M$33.3M$250.1M$292.8M$95.1M$108.6M—
Dividends paid $10.1M$9.2M$8.7M$8.0M$5.4M$2.5M$1.1M$30.0M—
Buybacks $8.5M$1.3M$17.8M$22.7M$9.2M$293.0K$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-013355.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 100M 200M 300M Revenue, FY2018: 118.1M Net income, FY2018: 29.3M Revenue, FY2019: 132.9M Net income, FY2019: 29.2M Revenue, FY2020: 138.2M Net income, FY2020: 45.4M Revenue, FY2021: 135M Net income, FY2021: 58.6M Revenue, FY2022: 161.2M Net income, FY2022: 58.2M Revenue, FY2023: 212M Net income, FY2023: 62.7M Revenue, FY2024: 240.9M Net income, FY2024: 49.7M Revenue, FY2025: 252M Net income, FY2025: 58.5M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $118.1M $132.9M $138.2M $135.0M $161.2M $212.0M $240.9M $252.0M
Gross profit — — — — — — — — —
Net income — $29.3M $29.2M $45.4M $58.6M $58.2M $62.7M $49.7M $58.5M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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