NASDAQ$SPFI
South Plains Financial Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
South Plains Financial's first quarter 2021 financial results were reported.
South Plains Financial reported a net income of $15.2 million and diluted earnings per share of $0.82 for the first quarter of 2021. The company saw an increase in noninterest income driven by mortgage banking activities, while also managing to decrease the average cost of deposits.
- Net income for the first quarter of 2021 was $15.2 million.
- Diluted earnings per share for the first quarter of 2021 was $0.82.
- Pre-tax, pre-provision income (non-GAAP) for the first quarter of 2021 was $19.0 million.
- Average cost of deposits for the first quarter of 2021 decreased to 29 basis points.
Headline financials
Revenue & EPS history
South Plains Financial · Revenue · Quarterly
$56M
Revenue by segment
South Plains Financial · $20.4M total across 2 segments · Q1 2021
- Mortgage Banking Activities$18.8M+115.0%92.3%
- Service Charges on Deposits$1.57M—7.7%
Forward guidance
South Plains Financial anticipates loan growth to reaccelerate to a low single digit rate through 2021, excluding PPP loans, before returning to mid-single digit growth in 2022.
Tailwinds
- Local Texas markets continued to recover as the pace of business has started to accelerate.
- Real estate volumes remained strong.
- The price of oil continued to rise.
- Customers' demand for credit has improved.
- Loan growth is expected to reaccelerate.
Headwinds
- Potential impacts of the COVID-19 pandemic remain uncertain.
- Additional provisions for loan losses may be necessary in future periods.
- Lower loan rates and less purchase discount accretion impacted interest income.
- Higher health insurance costs increased personnel expenses.
- Slower loan demand and accelerated repayments experienced during 2020.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
+0.5%
Avg return
Earnings day
-0.0%
Avg return
5 days after
+1.8%
Avg return
30 days after
55%
18 / 33 earnings
Positive
+5.9%
Q1 2021
Best reaction
-8.6%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | -9.0% | -7.7% | |
| Q4 2025 | -2.0% | +0.8% | +3.4% | |
| Q3 2025 | +0.8% | -5.8% | -0.5% | |
| Q2 2025 | -2.4% | -0.4% | +0.0% | |
| Q1 2025 | +1.4% | +1.4% | +4.7% | |
| Q4 2024 | +5.4% | +3.7% | -3.1% | |
| Q3 2024 | -1.6% | +0.6% | +14.9% | |
| Q2 2024 | -0.5% | +7.5% | +2.7% | |
| Q1 2024 | -3.0% | -3.0% | +1.4% | |
| Q4 2023 | +2.0% | -4.7% | -8.6% | |
| Q3 2023 | +2.4% | +4.2% | +5.2% | |
| Q2 2023 | +3.0% | +5.1% | +3.2% | |
| Q1 2023 | +1.6% | -0.4% | +9.3% | |
| Q4 2022 | +1.5% | +1.2% | -3.3% | |
| Q3 2022 | -0.8% | +2.4% | +5.4% | |
| Q2 2022 | +5.5% | +6.3% | +10.8% | |
| Q1 2022 | -4.1% | -6.0% | -6.0% | |
| Q4 2021 | +0.3% | -1.5% | -2.2% | |
| Q3 2021 | +2.6% | +4.2% | +8.5% | |
| Q2 2021 | -0.2% | -2.5% | -2.8% | |
| Q1 2021 | +5.9% | +7.2% | +8.8% | |
| Q4 2020 | -2.9% | -2.2% | -1.3% | |
| Q3 2020 | -0.8% | +0.9% | +29.7% | |
| Q2 2020 | +5.4% | +2.3% | +7.7% | |
| Q1 2020 | -8.6% | -10.4% | -5.7% | |
| Q4 2018 | +4.2% | -2.4% | -22.6% | |
| Q4 2019 | +4.2% | -2.4% | -22.6% | |
| Q3 2018 | +4.6% | +9.5% | +13.9% | |
| Q3 2019 | +3.9% | +6.1% | +17.9% | |
| Q2 2018 | -5.4% | -3.1% | +2.4% | |
| Q2 2019 | +0.1% | -1.4% | -9.4% | |
| Q1 2018 | -2.3% | -4.4% | +2.2% | |
| Q1 2019 | -2.3% | -4.4% | +2.2% |
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