NASDAQ$SPFI
South Plains Financial Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported financial results for the quarter ended September 30, 2024.
South Plains Financial, Inc. reported net income of $11.2 million for Q3 2024, with diluted earnings per share of $0.66. The company saw an increase in net interest income and remains well-capitalized.
- Net income for the third quarter of 2024 was $11.2 million.
- Diluted earnings per share for the third quarter of 2024 was $0.66.
- Net interest margin was 3.65% for the third quarter of 2024.
- Nonperforming assets to total assets were 0.59% at September 30, 2024.
Headline financials
Revenue & EPS history
South Plains Financial · Revenue · Quarterly
$47.9M
Revenue by segment
South Plains Financial · $11M total across 3 segments · Q2 2023
- Mortgage Banking Activities$5.26M-39.3%47.6%
- Bank Card Services and Interchange Fees$4.04M+16.2%36.6%
- Service Charges on Deposits$1.75M—15.8%
Forward guidance
South Plains Financial is cautiously optimistic about loan growth acceleration and expects deposit cost pressures to ease, supporting the net interest margin and deposit growth.
Tailwinds
- The Bank is performing at a high level.
- The Company remains well capitalized.
- The Company is focused on managing their loan portfolio as the credit environment continues to normalize.
- The Company is building liquidity as they expect the Federal Reserve to continue reducing their market interest rate to stimulate economic growth looking to the year ahead.
- The Company is seeing a level of optimism from their customers that they have not seen over the last seven to eight quarters and their new business production pipeline is the strongest that it has been in more than two years.
Headwinds
- The Company is maintaining their credit discipline and not stretching to chase loan growth.
- The Company is exposed to the impact on us and our customers of a decline in general economic conditions and any regulatory responses thereto.
- The Company is exposed to potential recession in the United States and our market areas.
- The Company is exposed to the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry.
- The Company is exposed to increased competition for deposits in our market areas and related changes in deposit customer behavior.
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 Q3 2024
+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% |
Discussion
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