South Plains Financial Inc 2026年季度报告

(Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-38895 South Plains Financial, Inc. (Exact name of registrant as specified in its charter) Texas75-2453320(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 5219 City Bank ParkwayLubbock, Texas79407(Address of principal executive offices)(Zip Code) Registrant’s telephone number, including area code: (806) 792-7101 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☒Smaller reporting company☐Emerging growth company☐ Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May 4, 2026, the registrant had 19,145,754 shares of common stock, par value $1.00 per share, outstanding. TABLE OF CONTENTS PagePART I.FINANCIAL INFORMATION3Item 1.Consolidated Financial Statements3Consolidated Balance Sheets (Unaudited)3Consolidated Statements of Comprehensive Income (Unaudited)4Consolidated Statements of Changes in Stockholders’ Equity (Unaudited)5Consolidated Statements of Cash Flows (Unaudited)6Notes to Consolidated Financial Statements (Unaudited)7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations26Item 3.Quantitative and Qualitative Disclosures About Market Risk45Item 4.Controls and Procedures45PART II.OTHER INFORMATION46Item 1.Legal Proceedings46Item 1A.Risk Factors46Item 2.Unregistered Sales of Equity Securities and Use of Proceeds46Item 3.Defaults Upon Senior Securities46Item 4.Mine Safety Disclosures46Item 5.Other Information46Item 6.Exhibits47Signatures48 Table of Contents SOUTH PLAINS FINANCIAL, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(Dollars in thousands, except per share data) March 31,2026December31,2025(Unaudited)ASSETSCash and due from banks$45,881$58,318Interest-bearing deposits in banks676,119494,121Cash and cash equivalents722,000552,439Securities available for sale602,852567,540Loans held for sale ($15,471 and $7,796 at fair value at March 31, 2026 and December 31, 2025,respectively)17,2039,993Loans held for investment3,103,5293,144,502Allowance for credit losses on loans(44,822)(45,131)Loans held for investment, net3,058,7073,099,371Accrued interest receivable17,00920,931Premises and equipment, net51,58551,563Bank-owned life insurance78,11977,694Goodwill19,31519,315Intangible assets, net1,0121,133Mortgage servicing rights24,61124,041Deferred tax asset, net20,24420,433Other assets33,71736,047Total assets$4,646,374$4,480,500 SOUTH PLAINS FINANCIAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Unaudited)(Dollars in thousands, except per share data) SOUTH PLAINS FINANCIAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)(Dollars in thousands) SOUTH PLAINS FINANCIAL, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations– South Plains Financial, Inc. (“SPFI”) is a Texas corporation and registered bank holding company thatconducts its principal activities through its subsidiaries from offices located throughout Texas and Eastern New Mexico. Principalactivities include commercial and retail banking, along with investment, trust, and mortgage services. The following were subsidiariesof SPFI as of March 31, 2026: Basis of Presentation and Consolidation– The consolidated