The latest announcement is out from South Plains Financial ( (SPFI) ).
South Plains Financial, Inc. reported a modest rise in net income for Q3 2024, reaching $11.2 million with stable earnings per share at $0.66. The company maintained a strong capital position and experienced a slight increase in net interest margin to 3.65%, despite rising deposit costs. Loan portfolio management remained disciplined amid a normalizing credit environment, while optimism from customers and a robust business pipeline signal potential growth in upcoming quarters. Deposit cost pressures are easing, which could support net interest margins and further deposit growth.
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