South Plains Financial, Inc.
- Open
- 43.31
- Day high
- 43.83
- Day low
- 43.30
- Prev close
- 43.60
- Volume
- 2K
- Mkt cap
- $822M
- P/E (TTM)
- 11.4
- EPS (TTM)
- $3.82
- P/B
- 1.3
- P/S
- 2.7
- Yield
- 0.80%
- Per share
- $0.35
- ▼Insiders net selling -$11.6M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
South Plains Financial, Inc. (SPFI) is a Financial Services company listed on NASDAQ. The stock is up 7% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4).
South Plains Financial, Inc. (SPFI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SPFI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 17, 2026 | $0.94 | $0.96 | +1.9% | $64M | +2.0% |
| Apr 28, 2026 | $0.88 | $0.85 | -3.3% | $54M | +0.3% |
| Jan 26, 2026 | $0.88 | $0.90 | +1.8% | $54M | -0.1% |
| Oct 23, 2025 | $0.87 | $0.96 | +10.3% | $53M | -2.1% |
| Jul 16, 2025 | $0.77 | $0.86 | +11.7% | $55M | +1.1% |
| Apr 24, 2025 | $0.65 | $0.72 | +10.3% | $48M | -1.7% |
| Jan 24, 2025 | $0.67 | $0.96 | +43.3% | $50M | +2.9% |
| Oct 23, 2024 | $0.66 | $0.66 | +0.0% | $46M | -5.6% |
| Jul 18, 2024 | $0.59 | $0.66 | +11.9% | $47M | -1.0% |
| Apr 25, 2024 | $0.57 | $0.64 | +12.3% | $45M | -0.2% |
| Mar 15, 2024 | — | $0.61 | — | $65M | — |
| Jul 25, 2023 | $0.62 | $0.55 | -11.3% | $43M | -6.2% |
SPFI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 5, 2026 | Campbell Richard Ddirector | Sell | 27,286 | $45.14 |
| Aug 5, 2026 | Campbell Richard Ddirector | Sell | 132,714 | $44.75 |
| Jul 30, 2026 | Stein James D.director | Sell | 30,000 | $44.97 |
| Jul 30, 2026 | Stein James D.director | Sell | 70,000 | $44.36 |
| May 22, 2026 | Wargo Kyle Rdirector | Grant | 623 | — |
| May 22, 2026 | Valles Noe Gdirector | Grant | 623 | — |
| May 22, 2026 | Valles Noe Gdirector | Buy | 623 | — |
| May 22, 2026 | Washburn LaDana Rdirector | Grant | 623 | — |
| May 22, 2026 | Campbell Richard Ddirector | Grant | 623 | — |
| May 20, 2026 | Stein James D.director | Sell | 1,560 | $40.07 |
| May 20, 2026 | Stein James D.director | Sell | 13,504 | $40.01 |
| May 12, 2026 | Stein James D.director | Sell | 4,936 | $40.06 |
| May 12, 2026 | Stein James D.director | Sell | 10,000 | $40.38 |
| Apr 3, 2026 | Stein James D.director | Grant | 372,872 | — |
| Mar 17, 2026 | Newsom Mikella Dofficer: Chief Risk Officer & Secretary | Tax | 184 | $40.74 |
Source: SPFI SEC Form 4 filings, latest Aug 5, 2026. For informational purposes only — not investment advice.
See the full SPFI insider & 13F page →South Plains Financial, Inc. company profile
Overview
South Plains Financial, Inc. (NASDAQ:SPFI) is a regional bank holding company founded in 1941 and headquartered in Lubbock, Texas. The company went public in May 2019 and operates through its primary subsidiary, City Bank, providing commercial and consumer financial services across Texas and Eastern New Mexico. With over 80 years of banking history, South Plains has grown from a local community bank into a regional financial institution serving small and medium-sized businesses and individual customers through 25 full-service banking locations and 15 loan production offices.
Business
South Plains Financial operates in the regional banking sector, providing traditional commercial and consumer banking services through two primary business segments: Banking and Insurance. The Banking segment, which generates the vast majority of revenue, offers a comprehensive suite of financial products and services including deposit accounts, commercial and consumer loans, and various banking services. The company's deposit products include demand deposit accounts (checking accounts that don't earn interest), interest-bearing deposit products, savings accounts, and certificates of deposit. These deposits form the primary funding source for the bank's lending activities. The lending portfolio encompasses several key areas: commercial real estate loans for business properties, specialized commercial loans covering agricultural production, energy sector financing, and loans to various industries including goods and services, restaurants, retail, and construction. The bank also provides residential construction loans, single-family home mortgages, auto loans, and recreational vehicle financing. Beyond traditional banking, South Plains offers ancillary services including trust products and services for wealth management, investment services, mortgage banking services, and modern digital banking through online and mobile platforms. The company also issues debit and credit cards to customers. The Insurance segment, which represents a smaller portion of overall revenue, primarily focuses on crop insurance products serving the agricultural community in their market areas. The bank's loan portfolio is geographically diversified, with approximately 65% concentrated in rural Texas and New Mexico markets, while 35% serves metropolitan areas including Dallas, Houston, and El Paso. This geographic mix allows the bank to benefit from both the stability of rural agricultural communities and the growth potential of major metropolitan markets.
Revenue model
South Plains Financial operates on the traditional banking business model, generating revenue primarily through net interest income - the difference between interest earned on loans and investments and interest paid on deposits and borrowed funds. The bank collects deposits from customers at relatively low interest rates and lends these funds at higher rates to borrowers, capturing the spread as profit. The bank's customers fall into two main categories: individual consumers who use the bank for personal banking needs including checking accounts, savings, mortgages, and auto loans; and small-to-medium sized businesses that require commercial lending, treasury management services, and business banking products. Agricultural businesses represent a significant customer segment given the bank's geographic footprint in rural Texas and New Mexico. Non-interest income provides additional revenue streams through fees from banking services, trust and investment services, mortgage banking activities, and insurance products. This includes account maintenance fees, transaction fees, loan origination fees, and commissions from investment and insurance products. Several factors influence the bank's profitability margins. Interest rate environments significantly impact net interest margins - rising rates generally benefit banks by allowing them to charge more for loans while deposit costs often lag. Credit quality affects margins through loan loss provisions; economic downturns can force banks to set aside more money for potential loan defaults. Competition from other banks and financial institutions can pressure both loan pricing and deposit costs. Regulatory compliance costs represent ongoing operational expenses that can impact efficiency ratios. The bank's exposure to agricultural and energy sectors makes it sensitive to commodity price fluctuations and weather conditions that affect these industries.
Competitive moat
South Plains Financial operates in the highly competitive regional banking sector with limited sustainable competitive advantages or economic moats. The company's primary defensive characteristics stem from its geographic market position in rural Texas and New Mexico communities where it has established long-term customer relationships and local market knowledge spanning over 80 years. The bank benefits from customer switching costs inherent in banking relationships, as businesses and individuals typically maintain banking relationships for extended periods due to the inconvenience of changing banks and the relationship-based nature of commercial lending. The company's focus on treasury management services and commercial banking relationships creates some customer stickiness, particularly with business clients who rely on multiple interconnected services. However, these advantages are relatively weak compared to other industries. Regulatory barriers to entry provide some protection, as starting a new bank requires significant capital and regulatory approval, but existing competitors can easily expand into South Plains' markets. The banking industry faces intense competition from larger regional banks, national banks, credit unions, and increasingly from fintech companies that can offer similar services with lower overhead costs. Potential disruption comes from multiple sources: larger banks with superior technology platforms and broader service offerings, fintech companies providing digital-first banking experiences, and non-bank lenders offering competitive loan products. The commoditized nature of most banking products means customers can easily compare rates and services across providers. The bank's relatively small size (under $5 billion in assets) limits its ability to invest in cutting-edge technology or compete on pricing with larger institutions that benefit from economies of scale.
Risks & safety
South Plains Financial presents a moderate margin of safety profile typical of well-capitalized regional banks, though with some areas of concern regarding asset quality metrics. • Capital Position: Strong capitalization with Common Equity Tier 1 ratio of 13.59% (well above regulatory minimums of 7%), Tier 1 Leverage ratio of 12.04%, providing substantial buffer for potential losses • Liquidity: High liquidity position with $536 million in cash and short-term investments, representing 12% of total assets, providing flexibility for loan growth and deposit outflows • Debt Levels: Moderate debt-to-equity ratio of 0.25, indicating conservative leverage usage with low solvency risk • Profitability: Return on equity of 2.8% (Q1 2025) appears low but reflects seasonal patterns; full-year 2024 ROE of 11.3% demonstrates more normalized profitability • Valuation Metrics: Trading at P/E ratio of 11.1x and price-to-book ratio of 1.23x, suggesting reasonable valuation relative to earnings and book value • Asset Quality Concerns: Current ratio of 0.20 reflects banking industry structure but negative Graham net-net of -173 indicates working capital deficit typical for banks; requires monitoring of loan portfolio quality and deposit stability • Operational Cash Flow: Positive free cash flow of $25 million provides earnings quality validation
Recent development
Over the past few years, South Plains Financial has pursued a strategy focused on selective organic growth while maintaining conservative credit standards. The bank has been actively recruiting experienced lenders in metropolitan markets, particularly in Dallas, Houston, and El Paso, to expand its commercial lending capabilities and geographic diversification. A significant strategic initiative has been the enhancement of treasury management services, including the recruitment of senior treasury management executives to better serve commercial clients and improve deposit relationships. This focus on relationship-based banking aims to generate more stable, lower-cost deposits while increasing non-interest income through service fees. The company has been building liquidity reserves in anticipation of improved economic conditions and loan demand. Management has maintained a cautious approach during recent economic uncertainty, prioritizing balance sheet strength over aggressive growth. The bank's loan portfolio has remained relatively stable, with selective growth in commercial owner-occupied real estate and energy sector lending, while managing seasonal fluctuations in agricultural lending. Technology investments have included cloud migration initiatives and cybersecurity enhancements to improve operational efficiency and security. The bank has also been exploring potential merger and acquisition opportunities, though management emphasizes they will only pursue transactions that provide minimal shareholder dilution and strong cultural alignment. Recent quarters have shown improvement in net interest margins as the bank benefits from higher-yielding loan originations and better deposit cost management. The indirect auto loan portfolio has been managed for stability rather than growth, while the metropolitan markets loan portfolio continues to represent a key growth driver for the institution.
SPFI company profile · for informational purposes only — not investment advice.
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