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Stock impact report

South Plains Financial, Inc. Reports Third Quarter 2019 Financial Results

South Plains Financial, Inc. (SPFI) 
Last south plains financial, inc. earnings: 4/30 04:10 pm Check Earnings Report
Company Research Source: GlobeNewswire
LUBBOCK, Texas, Oct. 24, 2019 (GLOBE NEWSWIRE) -- South Plains Financial, Inc. (NASDAQ:SPFI) (“South Plains” or the “Company”), the parent company of City Bank, today reported its financial results for the quarter ended September 30, 2019.  Third Quarter 2019 Highlights Net income for the third quarter of 2019 was $8.3 million, compared to $6.1 million for the second quarter of 2019.Diluted earnings per share were $0.45 for the third quarter of 2019, compared to $0.37 for the second quarter of 2019.Average cost of deposits for the third quarter of 2019 declined 10 basis points to 98 basis points, compared to 108 basis points for the second quarter of 2019.The efficiency ratio for the third quarter of 2019 declined 123 basis points to 73.62%, compared to 74.85% for the third quarter of 2018.Return on average assets for the third quarter of 2019 was 1.18% annualized, compared to 0.89% for the second quarter of 2019.Book value per share was $16.61 as of September 30, 2019, compared t Show less Read more
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