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Stock impact report

South Plains Financial, Inc. Reports Fourth Quarter and Year-End 2023 Financial Results [Yahoo! Finance]

South Plains Financial, Inc. (SPFI) 
Last south plains financial, inc. earnings: 4/30 04:10 pm Check Earnings Report
Company Research Source: Yahoo! Finance
of City Bank (“City Bank” or the “Bank”), today reported its financial results for the quarter and year ended December 31, 2023. Fourth Quarter 2023 Highlights Net income for the fourth quarter of 2023 was $10.3 million, compared to $13.5 million for the third quarter of 2023 and $12.6 million for the fourth quarter of 2022. Diluted earnings per share for the fourth quarter of 2023 was $0.61, compared to $0.78 for the third quarter of 2023 and $0.71 for the fourth quarter of 2022. Average cost of deposits for the fourth quarter of 2023 increased to 224 basis points, compared to 207 basis points for the third quarter of 2023 and 97 basis points for the fourth quarter of 2022. Net interest margin, calculated on a tax-equivalent basis, was 3.52% for the fourth quarter of 2023, compared to 3.52% for the third quarter of 2023. Loans held for investment grew $20.6 million, or 2.8% annualized, during the fourth quarter of 2023 as compared to September 30, 2023. Nonperforming as Show less Read more
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