South Plains Posts $20.8M Q3 Net Income, $1.06 EPS, Raises Dividend 6% to $0.19
SPFI sits 24% above its 52-week low of $35.34.
Summary
South Plains earned $20.8 million ($1.06 per diluted share) in Q3 2026, up from $19.0 million last quarter, and raised its quarterly dividend 6% to $0.19. Nonperforming assets rose to 0.31% of total assets from 0.19%.
Key Events · Earnings and Guidance · SPFI
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Q3 Net Income Rises to $20.8M
Net income of $20.8 million ($1.06 diluted EPS) versus $19.0 million ($0.96) in Q2 2026 and $16.3 million ($0.96) a year ago; net interest income was $51.5 million and net interest margin held at 4.00%.
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Dividend Raised 6% to $0.19
Quarterly cash dividend of $0.19 per share, up 6% from the July 2026 declaration, payable November 16, 2026 to shareholders of record November 2, 2026.
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Credit Metrics Deteriorate
Nonperforming assets reached 0.31% of total assets from 0.19% at June 30; nonperforming loans rose $5.8 million to $15.3 million (0.40% of loans) and the provision for credit losses increased to $830 thousand from $350 thousand.
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Book Value Slips on AOCI
Book value per share fell to $33.04 from $33.43 and tangible book value to $29.23 from $29.60, driven by a $25.5 million after-tax decline in AOCI from higher long-term market rates, partly offset by $17.4 million of net income after dividends.
Analysis · SPFI · Finance
A higher dividend and steady margin are the headline takeaways: third-quarter net income of $20.8 million ($1.06 diluted EPS) rose from $19.0 million in the second quarter and $16.3 million a year ago, net interest margin held at 4.00%, and return on average assets improved to 1.53%. The board lifted the quarterly dividend 6% to $0.19 per share, payable November 16 to holders of record November 2 — a direct return of capital that supports the stock. Against that, credit metrics softened: nonperforming assets climbed to 0.31% of total assets from 0.19% at June 30, nonperforming loans rose $5.8 million to $15.3 million, and the provision for credit losses more than doubled to $830 thousand. Book value per share slipped to $33.04 from $33.43 as a $25.5 million after-tax drop in AOCI from higher long-term rates offset retained earnings. The BOH Holdings integration and system conversion were completed in the quarter, and annualized loan growth accelerated to 6.3%.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.3% of the 1526 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.41%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SPFI was trading at $43.93 on NASDAQ in the Finance sector, with a market capitalization of approximately $827.6M. The 52-week trading range was $35.34 to $46.94. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.