South Plains Financial(US:SPFI) Globenewswireยท2025-10-23 20:10Core Viewpoint - South Plains Financial, Inc. reported strong financial results for the third quarter of 2025, showcasing solid earnings growth driven by net interest income expansion and improved credit quality in its loan portfolio [3][6]. Financial Performance - Net interest income for Q3 2025 was $43.0 million, up from $42.5 million in Q2 2025 and $37.3 million in Q3 2024 [4][29]. - Net interest margin was 4.05% for Q3 2025, slightly down from 4.07% in Q2 2025 but up from 3.65% in Q3 2024 [6][29]. - Net income for Q3 2025 was $16.3 million, compared to $14.6 million in Q2 2025 and $11.2 million in Q3 2024 [6][29]. - Diluted earnings per share increased to $0.96 in Q3 2025 from $0.86 in Q2 2025 and $0.66 in Q3 2024 [6][29]. Loan and Deposit Trends - Loans held for investment decreased to $3.05 billion as of September 30, 2025, from $3.10 billion as of June 30, 2025, primarily due to a decrease in multi-family property loans [11]. - Total deposits increased to $3.88 billion as of September 30, 2025, up from $3.74 billion as of June 30, 2025, reflecting a 3.8% growth [12][29]. Asset Quality - The provision for credit losses was $500 thousand in Q3 2025, down from $2.5 million in Q2 2025, indicating improved credit quality [15][29]. - The ratio of nonperforming assets to total assets was 0.26% as of September 30, 2025, compared to 0.25% in Q2 2025 and 0.59% in Q3 2024 [16][29]. Capital Position - Tangible book value per share increased to $28.14 as of September 30, 2025, from $26.70 as of June 30, 2025 [6][29]. - The consolidated total risk-based capital ratio was 17.34% as of September 30, 2025, indicating a strong capital position [6][29].