South Plains Financial, Inc. (SPFI)

South Plains Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	198.9	176.6	137.95	120.54	121.73	116.9
Interest Income on Investments	37.91	35.44	23.21	14.5	16.5	16.04
Total Interest Income	236.81	212.03	161.17	135.04	138.23	132.94
Interest Paid on Deposits	86.16	64.99	17	8.29	11.89	22.49
Interest Paid on Borrowings	6.94	7.3	5.69	4.98	4.05	5.88
Total Interest Expense	93.1	72.29	22.69	13.27	15.95	28.37
Net Interest Income	143.71	139.75	138.48	121.76	122.29	104.58
Net Interest Income Growth (YoY)	1.99%	0.92%	13.72%	-0.43%	16.94%	9.37%
Trust Income	2.74	2.43	2.39	2.92	3.19	2.31
Mortgage Banking Activities	0.8	2.79	10.61	8.54	1.51	-
Gain (Loss) on Sale of Assets	-	33.78	-	-	-	-
Gain (Loss) on Sale of Investments	-	-3.41	-	-	2.32	-
Other Non-Interest Income	22.63	22.07	35.56	27.86	24.03	22.68
Total Non-Interest Income	43.9	75.82	76.15	97.47	101.6	56.63
Non-Interest Income Growth (YoY)	-44.67%	-0.43%	-21.88%	-4.07%	79.41%	8.66%
Revenues Before Loan Losses	187.61	215.56	214.62	219.23	223.89	161.21
Provision for Loan Losses	3.7	4.61	-2.62	-1.92	25.57	2.8
Revenue	183.91	210.95	217.24	221.15	198.32	158.41
Revenue Growth (YoY)	-14.85%	-2.89%	-1.77%	11.51%	25.19%	12.48%
Salaries and Employee Benefits	72.7	77.22	83.57	91.72	87.95	74.54
Occupancy Expenses	13.16	13.2	13.09	12.06	12.26	11.57
Selling, General & Administrative	19.19	18.35	22.79	18.12	16.66	16.03
Other Non-Interest Expense	23.18	22.76	24.65	26.13	24.85	19.56
Total Non-Interest Expense	128.23	131.54	144.09	148.03	141.72	121.71
EBT Excluding Unusual Items	55.68	79.42	73.15	73.12	56.6	36.7
Pretax Income	55.68	79.42	73.15	73.12	56.6	36.7
Income Tax Expense	12.14	16.67	14.91	14.51	11.25	7.48
Net Income	43.54	62.75	58.24	58.61	45.35	29.22
Net Income to Common	43.54	62.75	58.24	58.61	45.35	29.22
Net Income Growth	-33.05%	7.74%	-0.64%	29.24%	55.21%	-0.24%
Basic Shares Outstanding	16	17	17	18	18	17
Diluted Shares Outstanding	17	17	18	18	18	17
Shares Change (YoY)	-3.06%	-3.81%	-2.55%	0.84%	7.62%	15.36%
EPS (Basic)	2.65	3.73	3.35	3.26	2.51	1.74
EPS (Diluted)	2.56	3.62	3.23	3.17	2.47	1.71
EPS Growth	-31.01%	12.07%	1.89%	28.34%	44.44%	-13.64%
Dividend Per Share	0.540	0.520	0.460	0.300	0.140	0.060
Dividend Growth	5.88%	13.04%	53.33%	114.29%	133.33%	-97.04%
Effective Tax Rate	21.80%	20.99%	20.38%	19.84%	19.88%	20.38%

Source: S&P Capital IQ. Banks template. Financial Sources.