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South Plains Financial, Inc. (SPFI) 10-Year Financial Performance & Capital Metrics

SPFI • • Banking & Credit
Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks
AboutSouth Plains Financial, Inc. operates as a bank holding company for City Bank that provides commercial and consumer financial services to small and medium-sized businesses and individuals. The company operates through two segments, Banking and Insurance. It offers deposit products, including demand deposit accounts, interest-bearing products, savings accounts, and certificate of deposits. The company also provides commercial real estate loans; general and specialized commercial loans, including agricultural production and real estate, energy, finance, investment, and insurance loans, as well as loans to goods, services, restaurant and retail, construction, and other industries; residential construction loans; and 1-4 family residential loans, auto loans, and other loans for recreational vehicles or other purposes. In addition, it offers crop insurance products; trust products and services; investment services; mortgage banking services; online and mobile banking services; and debit and credit cards. The company operates 25 full-service banking locations; and 15 loan production offices located throughout Texas and Eastern New Mexico. South Plains Financial, Inc. was founded in 1941 and is headquartered in Lubbock, Texas.Show more
  • Net Interest Income $147M +5.3%
  • Total Revenue $283M +13.9%
  • Net Income $50M -20.8%
  • Return on Equity 11.75% -28.4%
  • Net Interest Margin 3.48% +4.6%
  • Efficiency Ratio 42.99% +15.9%
  • ROA 1.18% -23.5%
  • Equity / Assets 10.37% +7.1%
  • Book Value per Share 26.67 +7.6%
  • Tangible BV/Share 23.80 +8.9%
  • Debt/Equity 0.25 -7.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Efficient operations: 43.0% efficiency ratio
  • ✓Well capitalized: 10.4% equity/assets
  • ✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y8.74%
3Y7.56%
TTM-

Profit (Net Income) CAGR

10Y-
5Y11.22%
3Y-5.34%
TTM37.13%

EPS CAGR

10Y-
5Y12.51%
3Y-4%
TTM36.19%

ROCE

10Y Avg10.72%
5Y Avg12.87%
3Y Avg13.38%
Latest10.64%

Peer Comparison

Southeast Community Banks
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
FFINFirst Financial Bankshares, Inc.4.68B32.6520.9318.79%30.24%14.14%6.26%0.12
FHNFirst Horizon Corporation11.85B24.4417.974.71%15.7%9.58%10.33%0.50
AUBAtlantic Union Bankshares Corporation5.47B38.3617.1328.8%15.53%4.22%5.51%0.17
UCBUnited Community Banks, Inc.4.09B33.9116.6214.65%17.05%8.83%7.4%0.13
SNVSynovus Financial Corp.6.95B50.0516.521.16%14.09%13.7%11.01%0.35
PNFPPinnacle Financial Partners, Inc.14.67B97.6516.3815.32%16.65%9.1%5.5%0.39
CADECadence Bank8.27B44.4016.0332.37%18.03%9.08%9.39%0.01
ABCBAmeris Bancorp5.56B81.4115.699.75%21.97%9.91%2.53%0.11

Profit & Loss

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Net Interest Income+88.46M95.61M104.58M122.28M121.76M138.48M139.75M147.1M
NII Growth %-0.08%0.09%0.17%-0%0.14%0.01%0.05%
Net Interest Margin %--------
Interest Income104.44M118.09M132.94M138.23M135.04M161.17M212.03M240.9M
Interest Expense15.98M22.48M28.37M15.95M13.27M22.69M72.29M93.8M
Loan Loss Provision3.97M6.9M2.8M25.57M-1.92M-2.62M4.61M4.3M
Non-Interest Income+45.09M49.38M53.29M97.35M92.47M70.77M36.48M42.2M
Non-Interest Income %--------
Total Revenue+149.53M167.47M186.23M235.58M227.51M231.94M248.51M283.1M
Revenue Growth %-0.12%0.11%0.27%-0.03%0.02%0.07%0.14%
Non-Interest Expense105.85M112.7M118.36M137.46M143.03M138.71M92.2M121.7M
Efficiency Ratio--------
Operating Income+23.74M25.39M36.7M56.6M73.12M73.15M79.42M63.29M
Operating Margin %--------
Operating Income Growth %-0.07%0.45%0.54%0.29%0%0.09%-0.2%
Pretax Income+23.74M25.39M36.7M56.6M73.12M73.15M79.42M63.29M
Pretax Margin %--------
Income Tax+107K-3.9M7.48M11.25M14.51M14.91M16.67M13.57M
Effective Tax Rate %--------
Net Income+23.64M29.29M29.22M45.35M58.61M58.24M62.74M49.72M
Net Margin %--------
Net Income Growth %-0.24%-0%0.55%0.29%-0.01%0.08%-0.21%
Net Income (Continuing)23.64M29.29M29.22M45.35M58.61M58.24M62.74M49.72M
EPS (Diluted)+1.351.681.622.513.303.423.822.92
EPS Growth %-0.24%-0.04%0.55%0.31%0.04%0.12%-0.24%
EPS (Basic)1.351.681.622.513.303.423.823.03
Diluted Shares Outstanding17.47M17.47M18.04M18.08M17.76M17.03M16.42M16.46M

Balance Sheet

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash & Short Term Investments+1000K1000K1000K1000K1000K1000K1000K1000K
Cash & Due from Banks294.56M245.99M158.1M300.31M486.82M234.88M330.16M359.08M
Short Term Investments1000K1000K1000K1000K1000K1000K1000K1000K
Total Investments+2.13B2.31B2.88B3.09B3.2B3.44B3.17B3.3B
Investments Growth %-0.08%0.24%0.07%0.03%0.08%-0.08%0.04%
Long-Term Investments1.94B1.97B2.17B2.29B2.47B2.74B2.99B3.03B
Accounts Receivables1000K1000K1000K1000K1000K1000K1000K1000K
Goodwill & Intangibles+--------
Goodwill0018.76M19.51M19.51M19.51M19.32M19.32M
Intangible Assets0010.69M16.61M25.59M31.82M29M28.01M
PP&E (Net)61.89M59.79M61.87M60.33M57.7M56.34M55.07M52.95M
Other Assets72.52M83.36M92.1M94.11M98.8M121.36M560.8M427.75M
Total Current Assets503.05M597.14M879.67M1.12B1.23B953.03M534.9M649.01M
Total Non-Current Assets2.07B2.12B2.36B2.48B2.68B2.99B3.67B3.58B
Total Assets+2.57B2.71B3.24B3.6B3.9B3.94B4.2B4.23B
Asset Growth %-0.05%0.19%0.11%0.08%0.01%0.07%0.01%
Return on Assets (ROA)0.01%0.01%0.01%0.01%0.02%0.01%0.02%0.01%
Accounts Payable00000000
Total Debt+177.83M193.1M205.03M223.53M122.17M122.35M110.17M110.35M
Net Debt-116.73M-52.89M46.93M-76.78M-364.65M-112.53M-219.99M-248.73M
Long-Term Debt162.28M175.4M167.87M196.98M122.17M122.35M110.17M110.35M
Short-Term Debt15.55M17.7M37.16M26.55M0000
Other Liabilities57.12M58.2M000061.36M62.06M
Total Current Liabilities2.2B2.32B2.76B3.03B3.37B3.46B3.63B3.62B
Total Non-Current Liabilities219.4M233.59M167.87M196.98M122.17M122.35M171.53M172.41M
Total Liabilities2.42B2.56B2.93B3.23B3.49B3.59B3.8B3.79B
Total Equity+158.21M154.58M306.18M370.05M407.43M357.01M407.11M438.95M
Equity Growth %--0.02%0.98%0.21%0.1%-0.12%0.14%0.08%
Equity / Assets (Capital Ratio)--------
Return on Equity (ROE)0.15%0.19%0.13%0.13%0.15%0.15%0.16%0.12%
Book Value per Share9.058.8516.9820.4722.9420.9724.8026.67
Tangible BV per Share--------
Common Stock15.15M14.77M18.04M18.08M17.76M17.03M16.42M16.46M
Additional Paid-in Capital85.89M80.41M140.49M141.11M133.22M112.83M97.11M97.29M
Retained Earnings120.59M119.83M146.7M189.52M242.75M292.26M345.26M385.83M
Accumulated OCI-446K-2.24M958K21.34M13.7M-65.11M-51.67M-60.62M
Treasury Stock-5.86M0000000
Preferred Stock00000000

Cash Flow

Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+35.32M26.92M30.48M5.63M96.27M123.59M58.54M59.38M
Operating CF Growth %--0.24%0.13%-0.82%16.11%0.28%-0.53%0.01%
Net Income23.64M29.29M29.22M45.35M58.61M58.24M62.74M49.72M
Depreciation & Amortization5.28M5.18M5.22M6.58M6.44M6.96M6.41M6.51M
Deferred Taxes000-1.59M1.45M1.36M99K-1.05M
Other Non-Cash Items3.29M-2.65M-9.64M-44.57M24.94M38.42M-7.03M-280K
Working Capital Changes3.12M-4.91M4.83M-1.41M3.19M15.85M-5.84M2.17M
Cash from Investing+-148.08M-184.09M-213.49M-156.23M-159.84M-408.86M-143.38M-13.93M
Purchase of Investments-328.16M-539.09M-489.03M-279.73M-61.55M-176.71M-199.9M-304.78M
Sale/Maturity of Investments1000K1000K1000K1000K1000K1000K1000K1000K
Net Investment Activity--------
Acquisitions0078.17M-687K0036.08M0
Other Investing-175.47M-123.78M9.62M-81.87M-215.7M-308.93M-267.81M-43.73M
Cash from Financing+43.92M108.6M95.12M292.81M250.08M33.33M180.11M-16.53M
Dividends Paid-7.87M-30.05M-1.08M-2.53M-5.38M-8.01M-8.74M-9.15M
Share Repurchases000-293K-9.23M-22.7M-17.76M-1.34M
Stock Issued0051.39M00000
Net Stock Activity--------
Debt Issuance (Net)-1000K1000K1000K1000K-1000K0-1000K0
Other Financing63.16M123.37M33.23M277.18M366.25M64.04M218.99M-6.04M
Net Change in Cash+-68.84M-48.57M-87.89M142.21M186.51M-251.94M95.28M28.92M
Exchange Rate Effect00000000
Cash at Beginning363.4M294.56M245.99M158.1M300.31M486.82M234.88M330.16M
Cash at End294.56M245.99M158.1M300.31M486.82M234.88M330.16M359.08M
Interest Paid15.89M22.02M28.13M16.12M13.47M21.77M70.06M92.75M
Income Taxes Paid107K2.73M6.47M13.51M12.4M13.84M19.39M12.54M
Free Cash Flow+26.3M23.79M26.49M2.32M93.35M119.12M53.86M56.03M
FCF Growth %--0.1%0.11%-0.91%39.29%0.28%-0.55%0.04%

Banking Ratios

Metric20172018201920202021202220232024
Return on Equity (ROE)14.94%18.73%12.68%13.41%15.08%15.24%16.42%11.75%
Return on Assets (ROA)0.92%1.11%0.98%1.33%1.56%1.48%1.54%1.18%
Net Interest Margin3.44%3.52%3.23%3.4%3.12%3.51%3.32%3.48%
Efficiency Ratio70.79%67.29%63.56%58.35%62.87%59.81%37.1%42.99%
Equity / Assets6.15%5.7%9.46%10.28%10.44%9.05%9.68%10.37%
Book Value / Share9.058.8516.9820.4722.9420.9724.826.67
NII Growth-8.08%9.37%16.94%-0.43%13.72%0.92%5.26%
Dividend Payout33.31%102.58%3.69%5.57%9.19%13.76%13.94%18.41%

Frequently Asked Questions

Valuation & Price

South Plains Financial, Inc. (SPFI) has a price-to-earnings (P/E) ratio of 14.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

South Plains Financial, Inc. (SPFI) grew revenue by 13.9% over the past year. This is steady growth.

Yes, South Plains Financial, Inc. (SPFI) is profitable, generating $59.7M in net income for fiscal year 2024 (17.6% net margin).

Dividend & Returns

Yes, South Plains Financial, Inc. (SPFI) pays a dividend with a yield of 1.35%. This makes it attractive for income-focused investors.

South Plains Financial, Inc. (SPFI) has a return on equity (ROE) of 11.8%. This is reasonable for most industries.

Industry Metrics

South Plains Financial, Inc. (SPFI) has a net interest margin (NIM) of 3.5%. This indicates healthy earnings from lending activities.

South Plains Financial, Inc. (SPFI) has an efficiency ratio of 43.0%. This is excellent, indicating strong cost control.

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