South Plains Financial Fourth Quarter and Year-End 2024 Earnings Presentation January 24, 2025 Safe Harbor Statement and Other Disclosures FORWARD-LOOKING STATEMENTS This presentation contains, and future oral and written statements of South Plains Financial, Inc. ("South Plains", "SPFI", or the "Company") and City Bank ("City Bank" or the "Bank") may contain, statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. ...

Core Insights - South Plains Financial (SPFI) reported a revenue of $51.87 million for the quarter ended December 2024, reflecting a year-over-year increase of 17.1% [1] - The earnings per share (EPS) for the quarter was $0.96, up from $0.61 in the same quarter last year, indicating a significant improvement [1] - The reported revenue exceeded the Zacks Consensus Estimate of $48.6 million by 6.72%, while the EPS surpassed the consensus estimate of $0.66 by 45.45% [1] Financial Performance Metrics - Total Nonperforming Assets stood at $24.55 million, better than the average estimate of $26.02 million from two analysts [4] - The efficiency ratio was reported at 57.5%, significantly lower than the average estimate of 68.4% [4] - Nonperforming Loans were $24.02 million, compared to the estimated $25.04 million [4] - Net charge-offs to average loans outstanding (annualized) were 0.1%, lower than the average estimate of 0.2% [4] - Net Interest Margin (FTE) was reported at 3.8%, slightly above the average estimate of 3.7% [4] - Average Balance of Total interest-earning assets was $4.11 billion, close to the average estimate of $4.12 billion [4] - Net Interest Income was $38.55 million, exceeding the average estimate of $37.76 million [4] - Total Noninterest Income reached $13.32 million, significantly higher than the average estimate of $10.87 million [4] Stock Performance - Shares of South Plains Financial have returned -3.1% over the past month, contrasting with the Zacks S&P 500 composite's +2.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Exhibit 99.1 South Plains Financial, Inc. Reports Fourth Quarter and Year-End 2024 Financial Results LUBBOCK, Texas, January 24, 2025 (GLOBE NEWSWIRE) – South Plains Financial, Inc. (NASDAQ:SPFI) ("South Plains" or the "Company"), the parent company of City Bank ("City Bank" or the "Bank"), today reported its financial results for the quarter and year ended December 31, 2024. Fourth Quarter 2024 Highlights Full Year 2024 Highlights Curtis Griffith, South Plains' Chairman and Chief Executive Officer, comment ...

South Plains Financial (SPFI) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 45.45%. A quarter ago, it was expected that this company would post earnings of $0.65 per share when it actually produced earnings of $0.66, delivering a surprise of 1.54%.Over the last four quarters, the co ...

LUBBOCK, Texas, Jan. 24, 2025 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter and year ended December 31, 2024. Fourth Quarter 2024 Highlights Net income for the fourth quarter of 2024 was $16.5 million, compared to $11.2 million for the third quarter of 2024 and $10.3 million for the fourth quarter of 2023.Diluted earnings per share for the four ...

Core Insights - South Plains Financial (SPFI) is expected to report quarterly earnings of $0.66 per share, an increase of 8.2% year-over-year, with revenues forecasted at $48.6 million, reflecting a 9.7% increase [1] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating analysts have reevaluated their initial estimates [1][2] Financial Metrics - Analysts estimate an 'Efficiency ratio' of 68.4%, slightly improved from 68.7% in the same quarter last year [4] - The 'Average Balance - Total interest-earning assets' is projected to reach $4.12 billion, up from $3.99 billion year-over-year [4] - 'Nonperforming Loans' are expected to rise significantly to $25.04 million, compared to $5.18 million a year ago [5] - 'Net Interest Margin (FTE)' is forecasted at 3.7%, an increase from 3.5% in the previous year [5] - 'Net Interest Income' is anticipated to be $37.76 million, up from $35.16 million year-over-year [5][6] - 'Total Noninterest Income' is projected to reach $10.87 million, compared to $9.15 million in the same quarter last year [6] Market Performance - Over the past month, shares of South Plains Financial have returned -2.3%, while the Zacks S&P 500 composite has seen a -0.4% change [6] - Currently, SPFI holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [6]

Earnings Announcement - South Plains Financial Inc will release its Q4 and full year 2024 financial results before market open on January 24 2025 [1] - The company will host a conference call and webcast at 10 00 am ET on January 24 2025 to discuss the financial results [1] Investor Participation - Investors and analysts can dial 1-877-407-9716 (international 1-201-493-6779) to participate in the conference call approximately 10 minutes prior to the start [2] - A live audio webcast will be available on the company's website at https://www spfi bank/news-events/events [2] Conference Call Replay - A replay of the conference call will be available within two hours of the conclusion and can be accessed through the News & Events tab of the company's website [3] - The replay can also be accessed by dialing 1-844-512-2921 (international 1-412-317-6671) with pin 13750452 [3] - The replay will be available until February 07 2025 [3] Company Overview - South Plains Financial Inc is the bank holding company for City Bank a Texas state-chartered bank headquartered in Lubbock Texas [4] - City Bank is one of the largest independent banks in West Texas with additional operations in Dallas El Paso Greater Houston the Permian Basin College Station Texas markets and Ruidoso New Mexico market [4] - The company provides commercial and consumer financial services to small and medium-sized businesses and individuals in its market areas [4] - Principal business activities include commercial and retail banking along with investment trust and mortgage services [4]

The price trend for South Plains Financial (SPFI) has been bearish lately and the stock has lost 5.1% over the past two weeks. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only f ...

Core Viewpoint - South Plains Financial (SPFI) reported a slight decline in revenue and earnings for the quarter ended September 2024, with key financial metrics showing mixed results compared to analyst estimates [1]. Financial Performance - Revenue for the quarter was $47.93 million, a year-over-year decline of 0.1%, and a surprise of -1.99% compared to the Zacks Consensus Estimate of $48.9 million [1]. - Earnings per share (EPS) was $0.66, down from $0.78 a year ago, with an EPS surprise of +1.54% against the consensus estimate of $0.65 [1]. - The efficiency ratio was reported at 68.8%, higher than the estimated 67.5% [1]. - Average balance of total interest-earning assets was $4.09 billion, exceeding the average estimate of $4.03 billion [1]. - Nonperforming loans amounted to $24.69 million, slightly above the estimated $24.33 million [1]. - Net interest margin (FTE) was 3.7%, surpassing the average estimate of 3.6% [1]. - Net charge-offs to average loans outstanding (annualized) were 0.1%, better than the average estimate of 0.2% [1]. - Net interest income was $37.29 million, exceeding the estimate of $36.81 million [1]. - Total noninterest income was $10.64 million, below the average estimate of $12.07 million [1]. Stock Performance - Shares of South Plains Financial have returned +3.3% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [2]. - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [2].

Company Performance - South Plains Financial (SPFI) reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of $0.65 per share, but down from $0.78 per share a year ago, indicating an earnings surprise of 1.54% [1] - The company posted revenues of $47.93 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.99%, and slightly down from $47.97 million year-over-year [1] - Over the last four quarters, South Plains Financial has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [1] Market Outlook - South Plains Financial shares have increased approximately 18.6% since the beginning of the year, compared to the S&P 500's gain of 22.7% [2] - The company's earnings outlook is crucial for investors, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [3] - The current consensus EPS estimate for the coming quarter is $0.64 on revenues of $48.85 million, and for the current fiscal year, it is $2.56 on revenues of $193 million [4] Industry Context - The Zacks Industry Rank for Banks - Southeast, which includes South Plains Financial, is currently in the bottom 33% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - National Bankshares (NKSH), another company in the same industry, is expected to report quarterly earnings of $0.52 per share, unchanged from the previous year, with revenues projected to be $11.64 million, reflecting an 8.2% increase year-over-year [5]