South Plains Financial Q3 net income rises on loan growth, BOH acquisition

SOUTH PLAINS FINANCIAL

22/10/2026 21:19

Overview
US regional bank's Q3 net income rose yr/yr, driven by organic growth and BOH acquisition
Q3 diluted EPS increased yr/yr
Company reported organic loan growth and expanded lending platform in Texas markets

Outlook
Company did not provide specific financial guidance for the current quarter or full year in its press release

Result Drivers
ORGANIC LOAN GROWTH - Co said Q3 loan growth was driven by organic expansion in Texas markets
BOH ACQUISITION IMPACT - Co said increases in interest income and expenses were mainly due to BOH acquisition
MORTGAGE BANKING REVENUES - Co said Q3 noninterest income rose yr/yr mainly due to higher mortgage banking revenues from fair value adjustment of mortgage servicing rights

Company press release: ID:nGNX96pd8S

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$1.06
 
Q3 Net Income
 
$20.80 mln
 
Q3 Net Interest Income
 
$51.50 mln
 
Q3 Credit Loss Provision
 
$830,000
 
Q3 Net Interest Margin
 
4%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "hold."
Wall Street's median 12-month price target for South Plains Financial Inc is $50.00, about 15.2% above its October 21 closing price of $43.40
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Oct 19 - ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin 
Oct 21 - Pinnacle Financial Partners Q3 adjusted profit beats estimates on loan, fee income growth
Oct 21 - First Bancorp Q3 net income rises 17.5%

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)