South Plains Financial, Inc. (SPFI)

South Plains Financial Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	202.27	176.6	137.95	120.54	121.73
Interest Income on Investments	38.63	35.44	23.21	14.5	16.5
Total Interest Income	240.9	212.03	161.17	135.04	138.23
Interest Paid on Deposits	87.08	64.99	17	8.29	11.89
Interest Paid on Borrowings	6.72	7.3	5.69	4.98	4.05
Total Interest Expense	93.8	72.29	22.69	13.27	15.95
Net Interest Income	147.1	139.75	138.48	121.76	122.29
Net Interest Income Growth (YoY)	5.26%	0.92%	13.72%	-0.43%	16.94%
Trust Income	-	2.43	2.39	2.92	3.19
Mortgage Banking Activities	14.19	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	25.86	22.07	35.56	27.86	24.03
Total Non-Interest Income	48.07	75.82	76.15	97.47	101.6
Non-Interest Income Growth (YoY)	-36.59%	-0.43%	-21.88%	-4.07%	79.41%
Revenues Before Loan Losses	195.17	215.56	214.62	219.23	223.89
Provision for Loan Losses	4.3	4.61	-2.62	-1.92	25.57
Revenue	190.87	210.95	217.24	221.15	198.32
Revenue Growth (YoY)	-9.52%	-2.89%	-1.77%	11.51%	25.19%
Salaries and Employee Benefits	74.34	77.22	83.57	91.72	87.95
Occupancy Expenses	16.11	13.2	13.09	12.06	12.26
Selling, General & Administrative	10.37	18.35	22.79	18.12	16.66
Other Non-Interest Expense	26.77	22.76	24.65	26.13	24.85
Total Non-Interest Expense	127.58	131.54	144.09	148.03	141.72
EBT Excluding Unusual Items	63.29	79.42	73.15	73.12	56.6
Pretax Income	63.29	79.42	73.15	73.12	56.6
Income Tax Expense	13.58	16.67	14.91	14.51	11.25
Net Income	49.72	62.75	58.24	58.61	45.35
Net Income to Common	49.72	62.75	58.24	58.61	45.35
Net Income Growth	-20.76%	7.74%	-0.64%	29.24%	55.21%
Basic Shares Outstanding	17	17	17	18	18
Diluted Shares Outstanding	17	17	18	18	18
Shares Change (YoY)	-1.77%	-3.81%	-2.55%	0.84%	7.62%
EPS (Basic)	2.92	3.73	3.35	3.26	2.51
EPS (Diluted)	2.92	3.62	3.23	3.17	2.47
EPS Growth	-19.34%	12.07%	1.89%	28.34%	44.44%
Dividend Per Share	0.560	0.520	0.460	0.300	0.140
Dividend Growth	7.69%	13.04%	53.33%	114.29%	133.33%
Effective Tax Rate	21.45%	20.99%	20.38%	19.84%	19.88%

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