Liquidity remains highly variable, with cash and cash equivalents fluctuating from a low of $45.9 million in 2026Q1 to a peak of $635.0 million in 2025Q3.
| Cash from Operations | 67.56M | 77.49M | 59.38M | 58.54M | 123.59M | 96.27M | 5.63M | 30.48M | 26.92M | 35.32M |
| Operating CF Growth % | 176.6% | 30.5% | 1.44% | -52.63% | 28.38% | 1610.88% | -81.54% | 13.24% | -23.79% | - |
| Net Income | 60.72M | 58.47M | 49.72M | 62.74M | 58.24M | 58.61M | 45.35M | 29.22M | 29.29M | 23.64M |
| Depreciation & Amortization | 5.84M | 5.81M | 6.51M | 6.41M | 6.96M | 6.44M | 6.58M | 5.22M | 5.18M | 5.28M |
| Deferred Taxes | -780K | -1.02M | -1.05M | 99K | 1.36M | 1.45M | -1.59M | 0 | 0 | 0 |
| Other Non-Cash Items | 2.9M | 18.88M | -280K | -7.03M | 38.42M | 24.94M | -44.57M | -9.64M | -2.65M | 3.29M |
| Working Capital Changes | -3.84M | -7.28M | 2.17M | -5.84M | 15.85M | 3.19M | -1.41M | 4.83M | -4.91M | 3.12M |
| Cash from Investing | -55.36M | -68.22M | -13.93M | -143.38M | -408.86M | -159.84M | -156.23M | -213.49M | -184.09M | -148.08M |
| Purchase of Investments | -772.33M | -420.94M | -304.78M | -199.9M | -176.71M | -61.55M | -279.73M | -489.03M | -539.09M | -328.16M |
| Sale/Maturity of Investments | 753.55M | 449.81M | 337.94M | 292.93M | 81.25M | 120.33M | 209.36M | 191.75M | 481.92M | 364.58M |
| Net Investment Activity | -18.78M | 28.86M | 33.16M | 93.04M | -95.46M | 58.78M | -70.36M | -297.28M | -57.17M | 36.42M |
| Acquisitions | 0 | 0 | 0 | 36.08M | 0 | 0 | -687K | 78.17M | 0 | 0 |
| Other Investing | -30.7M | -91.43M | -43.73M | -267.81M | -308.93M | -215.7M | -81.87M | 9.62M | -123.78M | -175.47M |
| Cash from Financing | 173.49M | 184.09M | -16.53M | 180.11M | 33.33M | 250.08M | 292.81M | 95.12M | 108.6M | 43.92M |
| Dividends Paid | -10.4M | -10.1M | -9.15M | -8.74M | -8.01M | -5.38M | -2.53M | -1.08M | -30.05M | -7.87M |
| Share Repurchases | -276K | -8.53M | -1.34M | -17.76M | -22.7M | -9.23M | -293K | 0 | 0 | 0 |
| Stock Issued | 474K | 451K | 0 | 0 | 0 | 0 | 0 | 51.39M | 0 | 0 |
| Net Stock Activity | 198K | -8.07M | -1.34M | -17.76M | -22.7M | -9.23M | -293K | 51.39M | 0 | 0 |
| Debt Issuance (Net) | 0 | -1000K | 0 | -1000K | 0 | -1000K | 1000K | 1000K | 1000K | -1000K |
| Other Financing | 233.7M | 252.27M | -6.04M | 218.99M | 64.04M | 366.25M | 277.18M | 33.23M | 123.37M | 63.16M |
| Net Change in Cash | 185.7M | 193.36M | 28.92M | 95.28M | -251.94M | 186.51M | 142.21M | -87.89M | -48.57M | -68.84M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 552.44M | 359.08M | 330.16M | 234.88M | 486.82M | 300.31M | 158.1M | 245.99M | 294.56M | 363.4M |
| Cash at End | 722M | 552.44M | 359.08M | 330.16M | 234.88M | 486.82M | 300.31M | 158.1M | 245.99M | 294.56M |
| Interest Paid | 83.82M | 86.09M | 92.75M | 70.06M | 21.77M | 13.47M | 16.12M | 28.13M | 22.02M | 15.89M |
| Income Taxes Paid | 11.44M | 0 | 12.54M | 19.39M | 13.84M | 12.4M | 13.51M | 6.47M | 2.73M | 107K |
| Free Cash Flow | 61.69M | 71.83M | 56.03M | 53.86M | 119.12M | 93.35M | 2.32M | 26.49M | 23.79M | 26.3M |
| FCF Growth % | -0.99% | 28.2% | 4.03% | -54.79% | 27.61% | 3928.96% | -91.25% | 11.36% | -9.56% | - |
Regional economic concentration risk
Based on reported financial statements, South Plains Financial has maintained consistent capital generation, with net income reaching $14.5 million in 2026Q1, providing a stable foundation for organic growth while supporting the bank's regulatory capital buffers amidst the ongoing transition in the broader interest rate environment.
The bank's ability to generate positive net income consistently suggests that internal capital formation remains sufficient to support its current lending pace. Investors should monitor whether this organic capital generation remains resilient if the regional economic environment in West Texas faces further cyclical pressure.
As reported in recent SEC filings, SPFI engaged in significant investment activity, including a $351.4 million purchase and $314.4 million sale of securities in 2026Q1, indicating an active approach to managing the duration and yield profile of the bank's liquid asset portfolio during periods of rate volatility.
The high volume of turnover in the securities portfolio suggests that management is actively repositioning assets to optimize the net interest margin. This level of activity warrants further investigation into the potential for realized gains or losses that could impact the bank's reported earnings volatility.
According to historical cash flow data, SPFI has demonstrated a disciplined approach to capital return, with quarterly dividend payments consistently near $2.5 million, while share buybacks have remained opportunistic and limited, suggesting a preference for retaining capital to fund regional loan growth and maintain balance sheet strength.
The consistency of dividend payments appears to signal management's confidence in the bank's long-term earnings power. However, the sporadic nature of share repurchases suggests that capital return is secondary to maintaining sufficient liquidity for the bank's core agricultural and energy-focused lending operations.
Based on the provided figures, the bank's provision for credit losses has remained relatively contained, with a notable peak of $2.5 million in 2025Q2, suggesting that management is proactively adjusting its reserve levels to account for potential credit deterioration within its concentrated West Texas loan portfolio.
The variance in provisioning levels appears to reflect a cautious stance toward the credit quality of the bank's agricultural and commercial real estate exposures. Analysts should monitor whether these provisions remain adequate if regional economic conditions in the Permian Basin experience a more pronounced downturn.
Quick answers to the most common questions about buying SPFI stock.
South Plains Financial, Inc. (SPFI) generated $77.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
South Plains Financial, Inc. (SPFI) generated $71.8M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
South Plains Financial, Inc. (SPFI) spent $5.7M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, South Plains Financial, Inc. (SPFI) returned $10.1M to shareholders via cash dividends and spent $8.5M on share repurchases. This shows the company's commitment to returning capital to its equity investors.