South Plains Financial Files 8-K on Operations & Financial Condition

Ticker: SPFI · Form: 8-K · Filed: Jan 26, 2024 · CIK: 1163668

South Plains Financial, Inc. 8-K Filing Summary
FieldDetail
CompanySouth Plains Financial, Inc. (SPFI)
Form Type8-K
Filed DateJan 26, 2024
Risk Levellow
Pages2
Reading Time3 min
Key Dollar Amounts$1.00
Sentimentneutral

Complexity: simple

Sentiment: neutral

Topics: financial-condition, results-of-operations, regulation-fd, corporate-disclosure

TL;DR

**SPFI just dropped an 8-K on financial results, get ready for potential market reaction.**

AI Summary

South Plains Financial, Inc. filed an 8-K on January 26, 2024, to report on its results of operations and financial condition, as well as to satisfy Regulation FD disclosure requirements. This filing indicates that the company is providing an update on its financial performance, likely ahead of a formal earnings release, which is crucial for investors to understand the company's current health and future prospects. For shareholders, this matters because it offers an early glimpse into the company's financial standing, potentially influencing stock price movements and investment decisions.

Why It Matters

This filing signals that South Plains Financial is updating the market on its financial performance, which can impact investor sentiment and stock valuation. It's an early indicator of the company's health.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial information, not indicating any immediate new risks but rather providing transparency.

Analyst Insight

Investors should look for the detailed financial results that will follow this 8-K to understand the specific performance metrics and their implications for the stock. This filing is a heads-up that financial information is being disclosed.

Key Numbers

  • $1.00 — par value per share (par value of South Plains Financial, Inc.'s Common Stock)

Key Players & Entities

  • South Plains Financial, Inc. (company) — the registrant filing the 8-K
  • January 26, 2024 (date) — date of earliest event reported and filing date
  • Texas (company) — state of incorporation for South Plains Financial, Inc.
  • 001-38895 (dollar_amount) — Commission File Number
  • 75-2453320 (dollar_amount) — IRS Employer Identification No.
  • 5219 City Bank Parkway Lubbock, Texas 79407 (company) — address of principal executive offices
  • 806-792-7101 (dollar_amount) — registrant's telephone number
  • Common Stock, par value $1.00 per share (company) — title of class of securities registered
  • SPFI (company) — trading symbol on Nasdaq
  • The Nasdaq Stock Market LLC (company) — exchange on which securities are registered

FAQ

What is the primary purpose of this 8-K filing by South Plains Financial, Inc.?

The primary purpose of this 8-K filing, dated January 26, 2024, is to report on the company's results of operations and financial condition, and to satisfy Regulation FD disclosure requirements, as indicated in the 'ITEM INFORMATION' section.

What is the trading symbol and the exchange where South Plains Financial, Inc.'s common stock is registered?

South Plains Financial, Inc.'s Common Stock trades under the symbol SPFI and is registered on The Nasdaq Stock Market LLC, as stated under 'Securities registered pursuant to Section 12(b) of the Act'.

What is the state of incorporation for South Plains Financial, Inc.?

South Plains Financial, Inc. is incorporated in Texas, as specified in the 'State or other jurisdiction of incorporation' section of the filing.

What is the earliest event reported date in this 8-K filing?

The date of the earliest event reported in this 8-K filing is January 26, 2024, as explicitly stated under 'Date of Report (Date of earliest event reported)'.

Is South Plains Financial, Inc. considered an emerging growth company according to this filing?

No, South Plains Financial, Inc. is not considered an emerging growth company, as indicated by the unchecked box next to 'Emerging growth company' and the checked box next to the 'If an emerging growth company, indicate by check mark if the registrant has elected no' statement.

Filing Stats: 671 words · 3 min read · ~2 pages · Grade level 9.4 · Accepted 2024-01-26 08:56:57

Key Financial Figures

  • $1.00 — ich registered Common Stock, par value $1.00 per share SPFI The Nasdaq Stock Mar

Filing Documents

02

Item 2.02 Results of Operations and Financial Condition. On January 26, 2024, South Plains Financial, Inc. (the "Company") issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2023 . A copy of the Company's press release covering such announcement and certain other matters is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

01

Item 7.01 Regulation FD Disclosure. On January 26, 2024 , officers of the Company will have a conference call with respect to the Company's financial results for the fourth quarter and year ended December 31, 2023 . An earnings release slide presentation highlighting the Company's financial results for the fourth quarter and year ended December 31, 2023 is furnished as Exhibit 99.2 to this Current Report on Form 8-K. This earnings release slide presentation will also be available on the Company's website, www.spfi.bank, under the "News & Events" section. In accordance with General Instruction B.2 of Form 8-K, the information in Items 2.02 and 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2 furnished herewith, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information in Items 2.02 and 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2 furnished herewith, shall not be incorporated by reference into any filing or other document pursuant to the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. 99.1 Press release, dated January 26, 2024, announcing fourth quarter and year-end 2023 financial results of South Plains Financial, Inc. 99.2 Earnings release slide presentation, dated January 26, 2024. 104 Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOUTH PLAINS FINANCIAL, INC. Date: January 26, 2024 By: /s/ Steven B. Crockett Steven B. Crockett Chief Financial Officer and Treasurer

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