South Plains Financial, Inc. (NASDAQ: SPFI) reported Q4 and full-year 2025 results. The company showed notable growth in earnings, assets, and deposits. Strategic moves set the stage for future expansion.
Earnings and EPS Surge
Full-year net income reached $58.5 million in 2025. This topped 2024’s $49.7 million. Diluted EPS climbed to $3.44 from $2.92, a 17.8% increase. Q4 net income was $15.3 million. These gains reflect strong profitability.
Asset and Loan Expansion
Total assets grew to $4.48 billion by year-end. This marked a rise from $4.23 billion in 2024. Loans held for investment increased $89.4 million, or 2.9%. Q4 loans hit $3.14 billion, up $91 million from Q3. Growth came from multi-family property, direct energy, and commercial loans.
Deposits Show Solid Growth
Deposits totaled $3.87 billion at December 31, 2025. They rose $253.2 million, or 7.0%, from 2024. Noninterest-bearing deposits reached $1.02 billion, up from $935.5 million. These made up 26.4% of total deposits.
Book Value and Capital Strength
Tangible book value per share jumped 14% to $29.05. Book value per share hit $30.31. Tangible common equity ratio improved to 10.61%. Capital ratios remained robust at 17.26% total risk-based.
Strategic Acquisition Boost
South Plains entered a deal on December 1, 2025, to acquire BOH Holdings and Bank of Houston. BOH held $772 million in assets as of September 30. This targets scale in Houston’s market.
Takeaway
South Plains achieved its strongest growth in EPS, assets, deposits, and book value. Efficient cost management and organic lending fueled gains. The BOH acquisition positions the bank for accelerated loan growth in 2026.
