South Plains Financial, Inc. (SPFI) Financial Statements
Industry: State Commercial Banks
In fiscal 2025, South Plains Financial reported revenue of $211.9M, up 8.6% from $195.2M the year before. Net income was $58.5M (a 27.6% net margin), or $3.44 per diluted share. Net interest income was $167.0M, and the efficiency ratio (noninterest expense / revenue) was 62.6%. Operating activities generated $77.5M of cash, leaving $71.8M of free cash flow. At fiscal year end, South Plains Financial held $4.48B in total assets against $3.99B in total liabilities, including $552.4M of cash and equivalents.
Open the full interactive South Plains Financial financials → Quarterly statements, key ratios, valuation history and price charts.
South Plains Financial Key Stats
| Share Price | $42.72 |
|---|---|
| Market Cap | $846.3M |
| P/E Ratio | 12.4 |
| Revenue YoY Growth | +8.6% |
| 52-Week Range | $35.50 – $45.77 |
| Shares Outstanding | 19.1 million (basic, 2026 Q2) |
South Plains Financial Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $122.3M | $121.8M | $138.5M | $139.7M | $147.1M | $167.0M |
| Provision for Credit Losses | $25.6M | -$1.9M | -$2.6M | $4.6M | $4.3M | $5.2M |
| Noninterest Income | $101.6M | $97.5M | $76.1M | $79.2M | $48.1M | $44.9M |
| Noninterest Expense | $141.7M | $148.0M | $144.1M | $134.9M | $127.6M | $132.6M |
| Revenue | $223.9M | $219.2M | $214.6M | $219.0M | $195.2M | $211.9M |
| Pre-Tax Income | $56.6M | $73.1M | $73.2M | $79.4M | $63.3M | $74.1M |
| Income Tax | $11.2M | $14.5M | $14.9M | $16.7M | $13.6M | $15.6M |
| Net Income | $45.4M | $58.6M | $58.2M | $62.7M | $49.7M | $58.5M |
| Diluted EPS | $2.47 | $3.17 | $3.23 | $3.62 | $2.92 | $3.44 |
South Plains Financial Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $54.2M | $53.9M | $54.1M | $64.5M |
| Net Income | $16.3M | $15.3M | $14.5M | $19.0M |
| Diluted EPS | $0.96 | $0.90 | $0.85 | $0.96 |
South Plains Financial Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $300.3M | $486.8M | $234.9M | $330.2M | $359.1M | $552.4M |
| Loans (Net) | $2.18B | — | — | — | — | — |
| Total Assets | $3.60B | $3.90B | $3.94B | $4.20B | $4.23B | $4.48B |
| Deposits | $2.97B | $3.34B | $3.41B | $3.63B | $3.62B | $3.87B |
| Total Long-Term Debt | $197.0M | $122.2M | $122.4M | $110.2M | $110.4M | $60.5M |
| Total Liabilities | $3.23B | $3.49B | $3.59B | $3.80B | $3.79B | $3.99B |
| Shareholders' Equity | $370.0M | $407.4M | $357.0M | $407.1M | $438.9M | $493.8M |
South Plains Financial Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $5.6M | $96.3M | $123.6M | $58.5M | $59.4M | $77.5M |
| Cash From Investing | -$156.2M | -$159.8M | -$408.9M | -$143.4M | -$13.9M | -$68.2M |
| Cash From Financing | $292.8M | $250.1M | $33.3M | $180.1M | -$16.5M | $184.1M |
| Free Cash Flow | $2.3M | $93.4M | $119.1M | $53.9M | $56.0M | $71.8M |
Figures from South Plains Financial's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full South Plains Financial financials page for every line item.
South Plains Financial Company Profile
| Ticker | SPFI |
|---|---|
| Exchange | Nasdaq |
| Industry | State Commercial Banks |
| Headquarters | Lubbock, Texas |
| Incorporated in | Texas |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001163668 |
Frequently Asked Questions
What was South Plains Financial's revenue in fiscal 2025?
South Plains Financial (SPFI) reported revenue of $211.9M for fiscal 2025.
What is South Plains Financial's annual revenue history?
South Plains Financial's annual revenue by fiscal year: 2020: $223.9M; 2021: $219.2M; 2022: $214.6M; 2023: $219.0M; 2024: $195.2M; 2025: $211.9M.
What was South Plains Financial's net income in fiscal 2025?
South Plains Financial reported net income of $58.5M for fiscal 2025.
What was South Plains Financial's earnings per share (EPS) in fiscal 2025?
South Plains Financial's diluted EPS was $3.44 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did South Plains Financial generate in fiscal 2025?
South Plains Financial generated $71.8M of free cash flow in fiscal 2025.
What was South Plains Financial's revenue last quarter?
In its most recent reported quarter (2026 Q2), South Plains Financial reported revenue of $64.5M.
How much debt does South Plains Financial have?
South Plains Financial reported $60.5M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of South Plains Financial are outstanding?
South Plains Financial reported a weighted average of 19.1 million basic shares outstanding in 2026 Q2.
What is South Plains Financial's market cap?
Based on its latest closing price, South Plains Financial (SPFI) has a market capitalization of about $846.3M.
When does South Plains Financial's fiscal year end?
South Plains Financial's fiscal year end, as registered with the SEC, is December 31.
Where is South Plains Financial headquartered?
South Plains Financial lists its business address in Lubbock, Texas in its SEC filings.