South plains financial, inc. (SPFI)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18
Interest income:
Loans, including fees

31,015

30,562

29,652

28,592

28,098

28,322

27,652

25,627

24,109

Securities:
Taxable

3,780

2,877

2,021

1,816

2,176

2,254

1,736

792

795

Non taxable

396

349

226

218

225

226

530

1,021

1,095

Interest income on federal funds sold and interest income derived from funds deposited with both domestic and foreign financial institutions including funds in money market and other accounts.

546

976

1,766

1,883

1,505

870

813

968

1,284

Total interest income

35,737

34,764

33,665

32,509

32,004

31,672

30,731

28,408

27,283

Interest expense:
Deposits

4,283

4,836

5,627

6,139

5,889

5,602

4,670

3,796

3,493

Notes payable & other borrowings

450

465

581

618

650

607

541

473

430

Subordinated debt securities

404

403

404

403

406

311

245

245

245

Junior subordinated deferrable interest debentures

401

436

485

512

513

485

487

455

397

Total interest expense

5,538

6,140

7,097

7,672

7,458

7,005

5,943

4,969

4,565

Net interest income

30,199

28,624

26,568

24,837

24,546

24,667

24,788

23,439

22,718

Provision for loan losses

6,234

896

420

875

608

1,168

3,415

1,540

778

Net interest income, after provision for loan losses

23,965

27,728

26,148

23,962

23,938

23,499

21,373

21,899

21,940

Noninterest income:
The non-interest income earned through general service fees for monthly account maintenance and activity- or transaction-based fees, consisting of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue.

1,983

2,144

2,101

1,979

1,905

2,056

1,979

1,861

1,917

Income from insurance activities

1,159

2,942

1,114

1,210

1,750

3,136

1,462

1,135

1,395

Net gain on sales of loans

8,540

6,000

6,626

6,235

4,660

4,321

5,172

5,899

4,311

The non-interest income generated from bank card services and interchange fees.

2,238

2,419

2,192

2,071

2,010

2,735

2,101

2,051

1,958

Realized gain on sale of securities

2,318

-

-

-

0

-

-

-

-

Investment commissions

455

465

419

493

333

480

424

425

450

The non-interest income generated from fiduciary fees.

829

-

-

-

375

-

-

-

-

Other

1,353

839

1,663

1,715

1,042

220

2,157

1,597

1,437

Total noninterest income

18,875

16,740

14,115

13,703

12,075

14,390

13,295

12,968

11,468

Noninterest expense:
Salaries and employee benefits

20,810

19,348

18,135

18,784

19,125

18,315

18,044

17,818

17,601

Occupancy and equipment, net

3,600

3,263

3,486

3,416

3,407

3,468

3,388

3,391

3,324

Professional services

1,572

2,165

1,852

1,611

1,706

2,431

1,474

1,400

1,429

Marketing and development

768

742

762

796

717

801

671

760

818

IT and data services

847

726

722

689

693

566

564

553

550

The amount of noninterest expense related to bank card expenses.

1,052

952

864

806

724

755

665

659

664

The amount of noninterest expense related to appraisal expenses.

455

428

467

407

323

259

455

354

285

Other

4,907

4,090

3,740

3,421

3,341

3,903

3,385

3,487

3,206

Total noninterest expense

34,011

31,714

30,028

29,930

30,036

30,498

28,646

28,422

27,877

Income before income taxes

8,829

12,754

10,235

7,735

5,977

7,391

6,022

6,445

5,531

Income tax expense

1,746

2,645

1,977

1,655

1,204

1,528

1,109

-6,568

30

Net income

7,083

10,109

8,258

6,080

4,773

5,863

4,913

13,013

5,501

EARNINGS PER SHARE [Abstract]
Basic earnings per share (in dollars per share)

0.39

0.59

0.46

0.37

0.32

0.40

0.33

0.88

0.37

Diluted earnings per share (in dollars per share)

0.38

0.57

0.45

0.37

0.32

0.40

0.33

0.88

0.37

Net income

7,083

10,109

8,258

6,080

4,773

5,863

4,913

13,013

5,501

Other comprehensive income:
Change in net unrealized loss on securities available for sale

21,189

-3,408

116

4,410

2,907

5,209

-2,811

-1,011

-3,160

Change in net losses on cash flow hedges

-1,227

-

-

-

0

-

-

-

-

Reclassification adjustment for (gain) included in net income

2,318

-

-

-

0

-

-

-

-

Tax effect

-3,705

710

-25

-926

-611

-1,344

970

970

0

Other comprehensive income

13,939

-2,670

91

3,484

2,296

3,245

-1,841

-41

-3,160

Comprehensive income

21,022

7,439

8,349

9,564

7,069

9,108

3,072

12,972

2,341

Pro Forma [Member]
Loans, including fees

-

-

-

-

-

-

-

-

24,109

Taxable

-

-

-

-

-

-

-

-

795

Non taxable

-

-

-

-

-

-

-

-

1,095

Interest income on federal funds sold and interest income derived from funds deposited with both domestic and foreign financial institutions including funds in money market and other accounts.

-

-

-

-

-

-

-

-

1,284

Total interest income

-

-

-

-

-

-

-

-

27,283

Deposits

-

-

-

-

-

-

-

-

3,493

Notes payable & other borrowings

-

-

-

-

-

-

-

-

430

Subordinated debt securities

-

-

-

-

-

-

-

-

245

Junior subordinated deferrable interest debentures

-

-

-

-

-

-

-

-

397

Total interest expense

-

-

-

-

-

-

-

-

4,565

Net interest income

-

-

-

-

-

-

-

-

22,718

Provision for loan losses

-

-

-

-

-

-

-

-

778

Net interest income, after provision for loan losses

-

-

-

-

-

-

-

-

21,940

The non-interest income earned through general service fees for monthly account maintenance and activity- or transaction-based fees, consisting of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue.

-

-

-

-

-

-

-

-

1,917

Income from insurance activities

-

-

-

-

-

-

-

-

1,395

Net gain on sales of loans

-

-

-

-

-

-

-

-

4,311

The non-interest income generated from bank card services and interchange fees.

-

-

-

-

-

-

-

-

1,958

Investment commissions

-

-

-

-

-

-

-

-

450

Other

-

-

-

-

-

-

-

-

1,437

Total noninterest income

-

-

-

-

-

-

-

-

11,468

Salaries and employee benefits

-

-

-

-

-

-

-

-

17,601

Occupancy and equipment, net

-

-

-

-

-

-

-

-

3,324

Professional services

-

-

-

-

-

-

-

-

1,429

Marketing and development

-

-

-

-

-

-

-

-

818

IT and data services

-

-

-

-

-

-

-

-

550

The amount of noninterest expense related to bank card expenses.

-

-

-

-

-

-

-

-

664

The amount of noninterest expense related to appraisal expenses.

-

-

-

-

-

-

-

-

285

Other

-

-

-

-

-

-

-

-

3,206

Total noninterest expense

-

-

-

-

-

-

-

-

27,877

Income before income taxes

-

-

-

-

-

-

-

-

5,531

Income tax (expense) benefit

-

-

-

-

-

-

1,252

969

883

Net income

-

-

-

-

-

-

4,913

5,333

4,648

Basic (in dollars per share)

-

-

-

-

-

-

0.34

0.36

0.31

Diluted (in dollars per share)

-

-

-

-

-

-

0.34

0.36

0.31

Net income

-

-

-

-

-

-

4,913

5,333

4,648

Change in net unrealized loss on securities available for sale

-

-

-

-

-

-

-

-

-3,160

Tax effect

-

-

-

-

-

-

-

-

664

Other comprehensive income (loss)

-

-

-

-

-

-

-

-

-2,496

Comprehensive income

-

-

-

-

-

-

-

-

2,152