Market Trends & Price Movements - Bitcoin experienced a retreat alongside a pullback in tech stocks [1][2] - Ether fell by more than 35% to $4,190 [3] - Solana's SOL token also decreased, dropping below $180 [3] Company News & IPOs - Figure Technology, a blockchain lending company, has filed to go public on the NASDAQ [1][4] - Figure Technology reported $191 million in net revenue for the first 6 months of 2025, a 22% increase compared to the same period last year [4] - Figure Technology reported a net income of $29 million for the first 6 months of this year, compared to a net loss of $13 million in the same period last year [4] - Tether hired Bo Hines to lead its US digital asset strategy [5][6] Regulatory & Legislative Developments - Wyoming will launch its own US dollar-backed stablecoin called Frontier Stable Token [7] - Congressman Brian Style discussed the Clarity Act, emphasizing its importance for fostering innovation and protecting consumers in the crypto space [10][12] - The Clarity Act aims to establish a clear regulatory framework for crypto, addressing the current lack of regulatory clarity in the US [11][13] - The Genius Act, a stablecoin regulation bill, has been signed into law [8][16] - The industry anticipates significant investment in the stablecoin space in the US following the enactment of the Genius Act [29]

[Music] Good afternoon. My name is Yobi Benjamin. I am an immigrant and I'm an American.And before I start, I want to thank a few people. Uh first of all, I want to thank my grandmother who raised me who despite extreme poverty raised me to be the person that I am today. I want to also recognize and thank my wife and my children who continue to inspire me today.My wife Roxan is here and my son Greg. Thank you very much for inspiring me every day. Um I began my career in technology in a small company called ...

Core Viewpoint - South Plains Financial, Inc. reported strong first quarter results for 2025, showcasing solid deposit growth, improved margins, and loan growth in line with expectations, while maintaining a conservative credit culture [3][4][6]. Financial Performance - Net interest income for Q1 2025 was $38.5 million, unchanged from Q4 2024 and up from $35.4 million in Q1 2024 [4][26]. - Net interest margin increased to 3.81% in Q1 2025 from 3.75% in Q4 2024 and 3.56% in Q1 2024 [4][27]. - Interest income was $59.9 million in Q1 2025, down from $61.3 million in Q4 2024 but up from $58.7 million in Q1 2024 [5][26]. - Net income for Q1 2025 was $12.3 million, compared to $16.5 million in Q4 2024 and $10.9 million in Q1 2024 [6][26]. - Diluted earnings per share were $0.72 in Q1 2025, down from $0.96 in Q4 2024 and up from $0.64 in Q1 2024 [6][26]. Asset Quality - The ratio of nonperforming assets to total assets improved to 0.16% as of March 31, 2025, down from 0.58% at the end of Q4 2024 and 0.10% in Q1 2024 [14][27]. - The provision for credit losses was $420,000 in Q1 2025, down from $1.2 million in Q4 2024 and $830,000 in Q1 2024 [12][26]. Loan and Deposit Growth - Loans held for investment increased to $3.08 billion as of March 31, 2025, up from $3.06 billion at the end of Q4 2024 and $3.01 billion in Q1 2024 [10][26]. - Total deposits reached $3.79 billion as of March 31, 2025, compared to $3.62 billion at the end of Q4 2024 and $3.64 billion in Q1 2024, reflecting a 4.7% increase from the previous quarter [11][26]. Capital and Shareholder Returns - Book value per share increased to $27.33 as of March 31, 2025, compared to $26.67 at the end of Q4 2024 [15][26]. - The company repurchased 250,000 shares for $8.3 million in Q1 2025, with approximately $7 million remaining under the share repurchase program [3][6].