Business
South Plains Financial, Inc. Reports First Quarter 2026 Financial Results
LUBBOCK, Texas, April 28, 2026 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter ended March 31, 2026. First Quarter 2026 Highlights Net income for the first quarter of 2026 was $14.5 million, compared to $15.3 million for the fourth quarter of 2025 and $12.3 million for the first quarter of 2025.Diluted earnings per share for the first
About this update from South Plains Financial, Inc.
[{"type":"image","alt":"South Plains Financial, Inc.","displaySize":"","headline":null,"caption":"South Plains Financial, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":43,"url":"https://media.zenfs.com/en/globenewswire.com/95acd5faea28127cd8af70f9da9f6147"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/WlDz1BV4z29rpbd_jJI32A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTYw/https://media.zenfs.com/en/globenewswire.com/95acd5faea28127cd8af70f9da9f6147","width":300,"height":43}},"lazy":false},{"type":"text","content":"LUBBOCK, Texas, April 28, 2026 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter ended March 31, 2026.","length":264,"tagName":"p"},{"type":"text","content":"First Quarter 2026 Highlights","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income for the first quarter of 2026 was $14.5 million, compared to $15.3 million for the fourth quarter of 2025 and $12.3 million for the first quarter of 2025.","length":165,"tagName":"p"}]},{"val":[{"type":"text","content":"Diluted earnings per share for the first quarter of 2026 was $0.85, compared to $0.90 for the fourth quarter of 2025 and $0.72 for the first quarter of 2025.","length":157,"tagName":"p"}]},{"val":[{"type":"text","content":"Average cost of deposits for the first quarter of 2026 was 197 basis points, compared to 201 basis points for the fourth quarter of 2025 and 219 basis points for the first quarter of 2025.","length":188,"tagName":"p"}]},{"val":[{"type":"text","content":"Net interest margin, on a tax-equivalent basis, was 4.04% for the first quarter of 2026, compared to 4.00% for the fourth quarter of 2025 and 3.81% for the first quarter of 2025.","length":178,"tagName":"p"}]},{"val":[{"type":"text","content":"Return on average assets for the first quarter of 2026 was 1.31%, compared to 1.36% for the fourth quarter of 2025 and 1.16% for the first quarter of 2025.","length":155,"tagName":"p"}]},{"val":[{"type":"text","content":"Tangible book value (non-GAAP) per share was $29.65 as of March 31, 2026, compared to $29.05 as of December 31, 2025 and $26.05 as of March 31, 2025.","length":149,"tagName":"p"}]},{"val":[{"type":"text","content":"The consolid...