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]
South Plains Financial (SPFI) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates