South Plains Financial, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 26, 2023 at 09:10 pm
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South Plains Financial, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 36.32 million compared to USD 31.45 million a year ago. Net income was USD 12.62 million compared to USD 14.61 million a year ago. Basic earnings per share from continuing operations was USD 0.74 compared to USD 0.82 a year ago. Diluted earnings per share from continuing operations was USD 0.71 compared to USD 0.79 a year ago.
For the full year, net interest income was USD 138.48 million compared to USD 121.76 million a year ago. Net income was USD 58.24 million compared to USD 58.61 million a year ago. Diluted earnings per share from continuing operations was USD 3.23 compared to USD 3.17 a year ago.
South Plains Financial, Inc. is the bank holding company for City Bank (the Bank). The Bank is an independent bank in West Texas and has additional banking operations in the Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, Texas markets, and the Ruidoso, New Mexico market. The Bank provides a range of commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas. The Banks principal business activities include commercial and retail banking, along with investment, trust, and mortgage services. The Bank is primarily involved in real estate, commercial, agricultural and consumer lending activities with customers throughout Texas and Eastern New Mexico. The Bank operates about 25 full-service banking locations across seven geographic markets. The Bank also operates about eight loan production offices both in its banking markets and in certain key areas in Texas that focus on mortgage loan origination.
SOUTH PLAINS FINANCIAL, INC. 
