South Plains Financial Q2 net income rises on BOH acquisition

SOUTH PLAINS FINANCIAL

17/07/2026 11:37

Overview
US regional bank's Q2 net income and EPS rose yr/yr after BOH Holdings acquisition
Company completed BOH Holdings acquisition, boosting loans and deposits in Q2
Q2 net interest income and noninterest income increased, driven by acquisition and organic growth

Outlook
Company focused on expanding lending platform in high-growth Texas markets
South Plains aims to optimize Bank of Houston acquisition and pursue disciplined growth opportunities
Company says strong balance sheet and healthy loan pipeline position it for continued success

Result Drivers
BOH ACQUISITION - Q2 results were driven by the acquisition of BOH Holdings, which added approximately $667 mln of interest-earning assets and $611 mln of interest-bearing liabilities
MORTGAGE AND CARD REVENUE - Noninterest income rose due to higher mortgage banking revenues from improved originations and increased bank card services and interchange revenue from greater customer card usage
HIGHER OPERATING EXPENSES - Noninterest expense increased due to core operating costs related to the acquisition and higher incentive-based compensation

Company press release: ID:nGNX4zJgqt

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.96
 
Q2 Net Income
 
$19 mln
 
Q2 Net Interest Income
 
$50.30 mln
 
Q2 Net Interest Margin
 
4.00%
 

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 "buy"
Wall Street's median 12-month price target for South Plains Financial Inc is $48.00, about 8.5% above its July 16 closing price of $44.25
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

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.)