SOUTH PLAINS FINANCIAL INC
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
SPFI$43.08+1.5%Stored close · as of Nov 9, 2026
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Consolidated Balance Sheets
BALANCE SHEETS
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| Cash and due from banks | $54,114 | $62,821 |
| Interest-bearing deposits in banks | 304,968 | 267,337 |
| Cash and cash equivalents | 359,082 | 330,158 |
| Securities available for sale | 577,240 | 622,762 |
| Loans held for sale ($13,791 and $6,615 at fair value at December 31, 2024 and 2023, respectively) | 20,542 | 14,499 |
| Loans held for investment | 3,055,054 | 3,014,153 |
| Allowance for credit losses on loans | (43,237) | (42,356) |
| Loans held for investment, net | 3,011,817 | 2,971,797 |
| Accrued interest receivable | 21,687 | 20,881 |
| Premises and equipment, net | 52,951 | 55,070 |
| Bank-owned life insurance | 76,054 | 74,504 |
| Goodwill | 19,315 | 19,315 |
| Intangible assets, net | 1,720 | 2,429 |
| Mortgage servicing rights | 26,292 | 26,569 |
| Deferred tax asset, net | 22,840 | 19,413 |
| Other assets | 42,699 | 47,396 |
| Total assets | $4,232,239 | $4,204,793 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Deposits: | ||
| Noninterest-bearing | $935,510 | $974,201 |
| Interest-bearing | 2,685,366 | 2,651,952 |
| Total deposits | 3,620,876 | 3,626,153 |
| Accrued expenses and other liabilities | 62,060 | 61,358 |
| Subordinated debt | 63,961 | 63,775 |
| Junior subordinated deferrable interest debentures | 46,393 | 46,393 |
| Total liabilities | 3,793,290 | 3,797,679 |
| Stockholders’ equity: | ||
| Common stock, $1 par value per share, 30,000,000 shares authorized; 16,455,826 and 16,417,099 issued and outstanding at December 31, 2024 and 2023, respectively | 16,456 | 16,417 |
| Additional paid-in capital | 97,287 | 97,107 |
| Retained earnings | 385,827 | 345,264 |
| Accumulated other comprehensive loss | (60,621) | (51,674) |
| Total stockholders’ equity | 438,949 | 407,114 |
| Total liabilities and stockholders’ equity | $4,232,239 | $4,204,793 |
CONSOLIDATEDSTATEMENTS OF
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