SPFI - Earnings call transcript Q4 2020 | South Plains Financial, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon, ladies and gentlemen, and welcome to the South Plains Financial Fourth Quarter and Year-End 2020 Earnings Conference Call.

During today's presentation, all parties will be in a listen-only mode.

Following the presentation, the conference will be opened for questions with instructions to follow at that time.

As a reminder, this conference call is being recorded. I would now like to turn the call over to Mr. Officer Plains Financial Chief Crockett, of Financial. South Steven go ahead, sir. Please

Steven Crockett

call. everyone. operator, and your conference Executive today Officer; and and and you, our Bates, our We Curtis year-end me Griffith, are good earnings Cory quarter Thank Officer. Chief fourth City afternoon appreciate Bank's Chairman Credit here our participation XXXX President; Newsom, With Brent in Chief

replay through reminder, a of February XXXX. a will available this As be XX, call

the on section complement today's discussion website. Additionally, of a slide available our deck to is Investors

Before release let X our contain materially uncertainties differ cause comments begin, All Harbor Safe our variety undertake today's that subject statements to me the such as we could made statements on this remind on to see earnings made subject forward-looking risks, any call update forward-looking Slide Harbor to only from statement beginning by during presented statement. everyone those may and of press X of are to that results of required that other do anticipated factors not are forward-looking statements Page and future and actual we as Please Any a results. are Safe call presentation. law. duty and herein date except today's of

measures over Additionally, earnings non-GAAP turn to will our useful to which may this in the in measures call during today's comparable be reconciliation discuss At are found these call, most Curtis. measures, we point, evaluating A the believe we certain non-GAAP of our can release. performance. I GAAP

Curtis Griffith

Steve will for bank touch the the experienced proactive positive that continued questions. and financial and ahead. approach our achieved our level discuss conclude results, cycle will have quarter On then of a the past credit XXXX review organic results managing drive more as detailed loan year. today's our we in investments improvement Thank our call, upon over and outlook you, will call Cory the that portfolio, yielding I a the the will high is review afternoon. we growth have Steve your success growing we Cory also to that fourth results. year-end we for our provide year and of good the to made and will with open

While company this past year and global our unprecedented their presented more the with could as the result the pandemic; both, of employees commitment performance not our with challenges I of our pleased a COVID-XX to be and customers. bank

believe management improve management and of of pandemic. our mitigate our to their and a Our fourth to XXXX ultimately positioned team full risk to transform of We management the number downturn to risk key risk efforts. aspect a has bank relationships enterprise COVID-XX with which for believe or caused losses. of steps A our strong profile the is ongoing system enterprise led to also the of taken the a that portfolio, prior loan in our than not by designed will serve reflection this portfolio. credit extensive the for implementation of tireless the our of the loan and included reviews portfolio the quarter results of We the and year possible been would cycle management results exit the the are many our better of bank without financial years line have our peers. our returns This goal the with has transformation over delivering better system determined

in of improve we be grow X. on as a can our as strive We our The strict results expense seen we organically, and profitability to Slide efforts strategic have the worked acquisitions. as both also financial results detailed discipline bank, to through instill our team's tangible

which quarter million income we compares $XX.X For share $X.XX reported common share, of in common net reported million of $XX we $XX.X year's or the quarter. of million pre-provision for per income that XXXX, and XXXX of to in the fourth quarter of net the was quarter XXXX, third Pre-tax income million, fourth fourth of $XX.X per diluted $XX.X the or $X.XX diluted which XXXX. last quarter fourth million compares in to

of Our fourth balances. the loan a the to loan $XXX,XXX of our are of decrease provision in the that quarter loss in provision expense a recorded million economy, which XXXX decline quarter $X.X of $XXX,XXX third in in of The modification XXXX outstanding a from third for in loans a decrease quarter. is ago the year and the in was the compares of in actively modest expense provision amount and result quarter improvement a XXXX, under

While we our reserves, approach with we are are continued to conservative experiencing continue our maintaining portfolio. to improvement pleased very that credit, and in are we take the a

As of XXXX, which XXXX. modifications portfolio, of of our from related is as to were XX X.X% COVID-XX December September XX, active loan the pandemic X.X% down

storm to proactive borrowers our their to combined has decision payments believe reserve our pandemic our bank the differentiating in approach, COVID-XX As appropriate, is and continue position to Corey to believe Bank interest-only will our markets. in are cautiously with discuss, that to modify the early improve. positioned the City loans we allow economy local successfully continue that current to while weather will optimistic our also Overall, the we

in organic $X.X XX.X% scale This seen our XX% profile from our pre-tax, proud XX% XXX% year-over-year loan the results XX%. which XXXX year-over-year year-over-year where to to million, more basis be of ratio $X.XX outlined points grew book average to and X, tangible XXXX. more our assets believe We income billion, per expanded pre value I also to year our as our am portfolio ahead. team a full Plains, a compared earnings of enabled our believe the to return to year-over-year on improve grew to grew efficiency provide than for points in on Slide per XXXX successful solid extremely X.XX% can foundation the year-over-year plan, share, year improved the provision $XX.X growth to X.XX% very South in increased to demonstrate our as return we XX.X% bank's $XX.XX, these for XX infrastructure And team managed we our and results execution tough share than While of growth deliver basis ability has XXXX well, environment. assets

capital; supporting we a have thoughtful the strategy, Turning disciplined to and to to growth maintained designed shareholders dividends capital also allocation bank. of steady provide while is which our the

fourth the as of our close approved on February shareholders to XXXX. be we February of part of quarterly of paid our than in dividend quarter raised on last As XX% week, to And X. the our strategy, XX business Directors Board more consecutive dividend seventh of of record, this

resumption $XX the repurchase announced also million We November. program of our share this past

redeployment to believe up the priority, to remain of which to this million the Importantly, the subordinated growth dislocations weigh we pick notes also as bank. and activity help Strategic market issued could maintain encouraging. issuance has XXXX. we're in financial to value M&A been environment, arise. of in will disciplined and shareholder We we will take support see our improving to our ensure economic which a be is flexibility September advantage $XX beginning for have grow of continues we capital during uncertain opportunities will To and any the flexibility we capital and

cautiously acceptable for for shareholders. we the increasingly demand in believe motivated $X candidates actively banks to advantage year we rate infrastructure low believe billion maintain to the and as ahead. well sellers is will We optimistic of given which loan returns will acquisition team are opportunities, To looking with to handle to interest remain an take combined through believe with ahead current strong Our their look can challenging and see significant acquisition expense. adding the environment our assets be positioned those incremental capital we we base conclude, year without

to as our we which very windows customers our well. run performed and continue operations digital smoothly Our service have effectively through platforms, drive via

COVID-XX resilient in pace economies is with the we sound, given that that face the Our active. the our remaining still have pandemic appropriate of ongoing an built local and quality be reserves is what continue the outlook. believe uncertain of business We credit are of portfolio the to

profitably we strong, positions capital team have through have crisis been to earnings the execute the our to Finally, initiatives grow built our on our and which bank.

Corey. call to me Now, over turn let the

Cory Newsom

in from loan. the the by seasonal of paydowns fourth Slide afternoon downs increase a $XX million decrease agricultural million decline of Starting pay state of payoff early the Thank were of loans quarter you, the Curtis. third a of $XX everyone. fourth portfolio third municipality the million and And held $XX from and at XXXX million quarter forgiveness end largely XXXX in XXXX, of X; investment of with quarter is PPP for and an $XX a was million on loan from our which point good quarter loans, $XX billion, on loans, XXXX. driven $X.XX and The

flow, portfolio, loan X% the Turning interest-only down $XXX XX% X.X% we to quarter At hospitality are as our a the COVID-XX pandemic Curtis had Slide XXXX, fourth our help excluding we the XX-months XX. a outlined cash XX-day offer in loan hotels with PPP To storm on portfolio, of our interest-only and non-month generally preserved as as to of noted, million X, service exposure loans the of active total or balances modification. combination or the of our predominantly expected. a was and modifications related and Slide are in these limited of and weather end deferral to modifications hospitality of customers

recovery the per our is crisis since While are depths uncertain, revenue that the the of room experiencing are April. with the hotels improved pleased available the still has as each month outlook we in

are on in this continue the loan our of our Additionally, reserved we we portion we've remained outlook for and improve. believe allowance conditions optimistic its portfolio, this with cautiously well for to losses X.X%, force of segment

PPP to direct third are January approaching prices our a loan X.X% through is quarter, a levels Permian, and pre-crisis loans, XXXX. Through level feel from of activity the steadily the on exposure of all in and had positive quarters continue increased $XX with $XX comfortable have portfolio, excluding has at energy we impact or was quarter-end This exposure. very billion. Our our which million, of the modest decline fourth energy

sector strict the half credit challenging pleased with other than I'm success portfolio we gratified that more energy PPP our managing prior environment. guarantor pandemic the achieved As performed one in a reminder, have culture to outside support has That and in we the direct is service the the industry. during to cycle of cycle. we through COVID-XX said, almost both, very of balances Overall, has where believe addition strong our economic loan our have contributed alone, energy loans, and decline the to exposure credit the with

slowly economies, we manage credit demand improve to to is starting carefully. our continue will While in local

result will we portfolio normal before returning VPP enhanced XXXX in to XXXX, gain digits experienced up we've single is we the align One To where compensation new with bank. where plan on in on result, growth as we drive organic lending our more We've our mortgage As initiatives growth, to excluding a better a share to low to teams in market is focus year strong priority experienced our in banking brought expect continue new loan as our to a flat of be the have growth incentive hire which team we also production. the ahead. area and lenders loans.

was income Over XXXX. has fee fourth two million quarter in highlighted of These last team from compared we've which of is we than more decrease of our interest the $X.X in the A strong that $XX.X our XXXX it non-interest that revenue billion the to income we in growth rate production the $XX.X Slide a in seasonality. fourth in third in due as of as generated result to a on million a XX; year generated the can mortgage XXXX lower normal quarter results $XXX reduction in of of XXXX [ph] primarily as to be the commitments fourth quarter million quarter is $XX.X XXXX, of the doubled million seen $X.X the from and last lot of XXXX. in years, third generated banking over quarter, million

to technology Importantly, as was in commensurate headcount a achieved without we growth relied this scale. on strong increase

do to expect decline mortgage to without profitability maintain Looking year headcount. ahead, to volumes need the position reduce and our we to the

of a quarter. year remains XXXX income As the a XX% fourth XX% quarter South ago revenues of Plains in total represented result, compared in non-interest to differentiator real as for as overall, the income fee

SBA's We of we positioned Program PPP. the are Protection Paycheck also or that round believe well next for

portfolio. With and banks key PPP on our profile in our bring continue During PPP that loans, high the offer and that and allow can bank. improving a support helped our safety. the both lenders the than as customer is ratio, work roadshow. profitability, to we've to closed to round staff new invest XXXX focus focus also efficiency and we to relationships efficiency we in our focus employee The first process and program, we made of more ease traditional outlined the the on strides our IPO we be loan several our to ensure digitally, customers we seen streamline technology commitment further in that great will which This our the efficiency

During in the key we've delivered efficiency ratio was full efficiency ratio progress a the I'm needed area XX% mid-to-high proud for running range, XXXX XXXX. our the that a very and improve. XXXX we we've that of XX% to achieved as and year

team In bank. ratio our I'm team XXXX achieved in our volumes, disciplined the will we While that on to a have proud a in difficult our very efficiency we remain expenses moderate and of expect we the mortgage as with results in conclusion, scale environment. decline

recognized resulted normal that able level the created we normal pandemic, earnings an expense over year the in we uncertainty with to in income, provisioning like ahead. The offset Steve. an of now I in nice to for to has bank's the by level to above above the the positioned which due Plains a turn South backdrop of expense success call While mortgage XXXX. were to would improvement

Steven Crockett

rate million on of million XXXX Cory. was for for fourth by primarily our due average acquisition, million decline XXXX. from State net or quarter decrease XX in of XXXX, of income million, XXXX $XX.X West due offset interest sharp $XXX first rise the for to Starting and a XXXX. of our assets was WTSB quarter third the fourth The points $XX.X quarter to earning in you, of Slide of the Bank quarter in well participation in as the experienced Thank of PPP, fourth to non-PPP as the increase Texas basis loan as the a interest the in the in rates XX, compared quarter $XX.X environment the partially

as quarter fourth interest the fees. in is an $X.X adjustment During PPP-related of million we million or unrecognized income fee in $X PPP recognized XXXX, to and there SBA currently income,

to to of XXXX, in X.XX% Our quarter compared quarter the the interest net decreased margin fourth as in of XXXX. X.XX% third

Our declined rates non-PPP rate basis in to pressure continued loan portfolio. see we've as XX some point loan our

issuance end XXXX. at basis of from X the Additionally, the margin subordinated points declined note September the

which funding points fourth compared XXXX. from X points of in to improvement basis basis us XXX lower decline Our basis average of cost of in the fourth point through deposits experienced rate the quarter XXXX, declined XXXX, quarter points rate as XX of in federal XX been in The XXXX the basis to basis XXXX, XX the of funds further quarter in third deposits. declined pay and has largely we the in the allowed on to March to costs due points

the deposits third compared fourth increased $XX.X in rates our In cycle. $X.XX to the continue billion, quarter nearing this going to of to to forward quarter $X.XX billion monitor XXXX. our million will expect the be of We current floor rates but XXXX

fourth seen total quarter be the $XXX deposits. on of ended the million fourth essentially This non-interest flat at the bearing $XXX XXXX, compares the million represented bearing can of XXXX non-interest the deposits deposits. quarter we with to with of XX.X% XX.X% As which total XX, deposits third of end of total and XXXX, of quarter of or of Slide is

the to assets compared of Turning XXXX. in third ratio to basis as assets Slide -- XX, of basis our XXXX fourth one the quarter quarter declined non-performing total XX points point to

driven legal quarter assets in due expenses portfolio Slide average well at in X.XX% same fourth PPP common development points was in increases expense built yield ALLL losses XX fourth the to remain quarter. on, of from We the small end to decline unchanged we for as an a fourth of to equity remarks. will XX, Curtis was Permian occurring to of our XXXX. to compared XXXX. allowance in to $XX.X to interest the of the September we've in of ahead in reserves the ahead our by Skipping million quarter XXXX, $XXX,XXX the time XXXX, the And Basin the total in XXXX. to XXXX to Slide which tangible turn compared the on basis end quarter quarterly from touched over of As XX, to million third XX, was the believe increase XXXX. previously that of X.XX% X.X% the quarter period as compared a X.XX% loans, earning with of it decrease fourth branches of recovery in was of in as back XXXX; marketing primarily remains [ph] Curtis We quarter lawsuit concluding the disclosed third and of that non-interest well quarter uncertain rates against only is help $XX business in believe the outlook call reserved the this the overall quarter are The XXXX; was expenses fourth appropriate. our to third the loans interest period. I XXXX, amount fourth assets at the excluding X.XX% for at Skipping we loan added now our capitalized XXXX, for December guard of of tangible of our quarter settlement the and

Curtis Griffith

you, Steve. Thank

took growth not from the grow We would the credit we been risk ERM cautious a next our lessons preparing upon system, to our for to through last we sacrifice our the portfolio. loan downturn that and standards the investments improved our management Over operations learned where our of Recession. the in we implementation improved six years, based have technology, approach through Great

arose, many with the that migration which did of pandemic, moved a has COVID-XX gone improved the safety. were ensure to to we and their we onset ready. our of our move nor COVID-XX work remote platforms, environment pandemic, the not digital customer of employees to smoothly our team to At the the our expect challenges customers rapidly accelerated We satisfaction. While

ahead our in and preserve crisis. depth way to year, past borrowers preparedness for the rapidly of the our our paved the their Lastly, team, place cash believe help plan during foundation senior on the the management see this please flow for opportunities We're to provided the put in We success today. any has a our the with again, a Thank you, them. and years capitalize your excited success time for position we in be to grateful for that to line open come. Operator, questions.

Operator

Instructions] [Operator question KBW. And with our proceed from first Brady Please is with question. your Gailey

Brady Gailey

guys. know was stock the year? And afternoon, early your I know, back I press you fourth had about doesn't you value $XX any any that in you being million guys -- value, of $XX I November this much but buyback. that still book confirm stock still I just we repurchased the about Good in stock stock in saw quarter? trading fourth a tangible is should maybe the surprised. now; didn't it's you left authorized; book as I pretty quarter, selling little about think stock maybe tangible especially discount you. the at of inexpensive as Thank repurchasers to release in million so mean buy as relatively the resumption the about the appear found a guys November, it which

Steven Crockett

is this Brady, Hey Steve.

We any did we but touch stock of future some actually you started; there. some As in on did buy so I'll back of plans. said, that is activity up back just the early kind November. had Curtis gotten let start there that

Curtis Griffith

intending to so fast it -- stock We and we and in sector going the a discussions slowed far see kind the we're across more move pretty bank pricing, to and increase think. have we some rapid of were on we seeing do going. keep Now, was are how to I open, how

will still well place certainly and some at intended our we're think we the priced, additional discussions have say so think I in I to say, you program As into least; keep board conservatively XXXX. very

Brady Gailey

period Okay. in looks repurchase It stock went like the up much share did the account actually linked-quarter. But you how in quarter?

Steven Crockett

we stock actually; had were exercised at the of end that Yes, options it didn't December.

I So, -- was than less than nominal less there amount -- mean, shares probably XX,XXX maybe.

Brady Gailey

All margin loan we I margin some what yields. is to some And of the here? but know should was which about the it then, slippage from to think how sub-debt, is, was related lower right. the related

you should we Do how or over about there think pressure more stabilizing the think is market from margin do we're here? So here? downward the you think

Steven Crockett

we We for from you see moderates expect there hopefully larger think to we the that but -- the some pricing. quarter, decline know, the we still see but some in and definitely that that -- portfolio fourth it saw pressure additional pressure in loan that

fourth we and on positive We to side those continue drop drop look we quarter, those see and where we help look to at are didn't in can to see bit little those you offset the see on the a we'll big rates; more anything side. again the loan

Curtis Griffith

move credit I it that seeing think cut some at more we're opportunities and side. take we're if be rate. definitely right we're additional lower competitive on very we to type I even pressures a and rights maintaining little on will still for into we reduce Steve that quality, are And across think indicated, loan rather in heavily loan. XXXX certainly some high now sure portfolio, quality do have pressure to what committees some we'd deposit as of the right our we strong focused bit now, rates,

little more So in the compression I probably do to think that we're a is going slowing. I main think compression rate have he of said, But that definitely [ph]. as

Brady Gailey

All then strategy. your question me, it's just for M&A bank right. a finally, And on

you a if to a to tough trading You are I somebody. to at currency tough one earnings. to guys have be know, think like have tangible. at trading buyer, that's you that use And XX under bank times PE, when buy look times your a it's you even currency It's

then be that asset buy. size interested from active, be size remind of going about here just point near an target and talk you And would us then maybe like what you just you're of term in of currently. So And view Would to kind dynamic. you company to what if type think effect really

what's quality? Looking up? of the quality for there? candidate like what picked ideal looks Lower high Like that kind you've

Cory Newsom

Well, that part it's good certainly I pretty $XX of question, now, we cash, the the million build with right agree to amount some of sub that difficult reason that, you that's did first of one be an current with more. we stock cash see with We're acquirer do currency But have access of hefty as certainly the multiples. as into a move to improve that our amount and we 'XX. to including hoping debt,

the don't to part look whole get we the base, may rights low us later It banks Frankly, out I be more our trouble put I world. seem assets of don't We think that to base, situation, deals to for lot solve smaller currently, deposit think struggling strong at I bargain into somebody that don't I ups in see We go So have that. move we'd there. a certainly. have looking of matching glad But a that million, we us do are deposit think popping up $XXX portfolio. will in as cash above banks, at, things. and interested in 'XX. real solid, on would have situation; of just be lot to would that of see a do are just now a and right fix mood try and relatively to and problems we to else's cost long things

Brady Gailey

thanks. Okay,

Operator

is with question. Please your Milsaps Brad Piper proceed with our question next Sandler. And from

Brad Milsaps

not the record last as I think you Curtis, where you're follow-up provision other kind see mean, read maybe we in point of your that, bigger provision of sounds or to on inflection or over you like you you that a of your do portfolios and term a release afternoon. a continue lot comment. a seeing Should good in folks own? just reserves to sort it know, you at of stress expect way? markets, know, you're almost your kind zero near negative might Hey,

Curtis Griffith

I that take the Our in middle a bit. one. so about Chief right Credit Brent's talk of that him will been let little Officer this

Brent Bates

seen over environment. saw while not with us With economic our that real our really, by confident a uncertainty over credit are reserve the But level Yes. comfortable being and bank, the increases year we've we're you the the portfolio, driven the CECL felt in really last in just now quality. right reserve or

You seeing loss come the know we're rate into the still not portfolio.

basis. going So a to highs. are it's logic we're would just at by have reserve And the monitor that percentages to the on indicate quarter something quarter historic

you credit know to down. ratios greater additional probably Absa, or So you advance uncertainty, come those expect

Curtis Griffith

rather think at our by it. have A market they of way I difficulties look economies and to that the of economy been in right but for have papered federal maybe at specific we And that. degree local as been what what we're some segments given are of to appropriately the strong quarter would we'd the overall I to each look going and And in probably dollars. seeing that out we're we're think reserved we'll time, it the And with our well. uncertainty at that maybe stay going over are pretty sure facing continue, in looking right be appropriateness our now, now. at lot those And won't.

Brad Milsaps

item relates then margin. Steve just And kind it was there a any discount million great. Okay, impact big housekeeping as last $X.X I of accretion the was from to think maybe this it loan quarter. quarter,

of kind just there's impact? any curious So if

Steven Crockett

it same quarter, slightly was but than amount. the less last around it was No,

Brad Milsaps

Okay.

come the you're just extent And loan production seeing, seeing you yield know, guys maybe to north new do so on that is of books? you X%, the where of core

Steven Crockett

one? you want take that do to Brent,

Brent Bates

type, X% probably, is at productions the the I end, Yes. on average depending average, range, probably I'd mean, new high but to asset range. X.XX%, say I'd but on say maybe in X% the X%, in on the

Curtis Griffith

just you it's we're know, we'll know, big going our I going thing You quality, get on up up mentioned credit to is, give not that happen. right before to earlier, even mean,

Brad Milsaps

kind the in then you And $XX revenue, Sure, XXXX. around expenses mortgage mortgage know, million in question of grew maybe some of guys kind final understood. business, you

rate? be with a you Or might we of see about the you to kind run sort situations get back your we expense want if is some expense lower think Do of thinking of where about, in trajectory? just Just backup off to it in can commissions those a elsewhere, wanted mortgage do that, spending sense XQ be you XXXX? should kind of bit how of trajectory -- think a of of sort revenue,

Curtis Griffith

all out Well, expense increase that chart, I that on by through what that, increased see expenses you non-interest in didn't really that of is, quarters; going did think the all on driven the explain that was division. we increased mortgage the

actually savings as back some So some a Cory, address opportunities in have the you we to as moved on that, mortgage we some along, non-interest the for further? year the were savings outlook and well. we'll getting want little additional as slows that think expense

Cory Newsom

margins and it; on no origination at look do think going you going not get I we such we they're purchases in we're that through we're be things side mean, forward, seeing much so very new to as really there tighter. on coming moving not question, is that. to If on seeing of side the what the the retail we're -- staying focused

tighter. the with we going So, but we've margins be slow think had, in definitely good it to pretty are launch quarter we're so could we time, down we've be seen to it's far what going with think the starting a that out,

Brad Milsaps

Or kind ways plans the And in are or Okay. consolidation I still overall then the branch XXXX? there be on from aggressive down? dollars same other else of should anything kind mean, expense expense side still; mortgage, any to push about for we it more away story looking of thinking is for the

Curtis Griffith

figured still Well, I out like do we're impact. COVID more mean I just I could think everybody else, we less think -- we with with -- that

year to and leadership had where opportunities when it we we we're roles. with to I some expenses overhead outside and attrition I of seeing and is; some these technology And other where past. changes came then and our to continue ways take we're that mean, let can replace seeing hold -- help So, traditional cut we of in more us not let have that technology we mean, this more step-up the the made side

Brad Milsaps

you, Thank great. Okay, guys.

Operator

call the question-and-answer for to remarks. over will the we I have turn session. reached And management the And end of closing now

Curtis Griffith

year. their I'd for the you, thanking Thank in one most our banking. close I've has operator. accomplished almost in XX more ever employees much been work challenging years what in hard past environments we've all of like by Together, experienced this to

result efforts initiatives a place affirmation the see we've efforts. and in of well combined to operations our a culture perform to conservative instill of direct of the Our bank in your credit It's a success rewarding bank. with the real put so the is that improve

the future remains for are I'm of South the Plains. hope to positioned call opportunities Looking safe the at we bank. to Thank grow and take ahead, on year holds what well to today you, everyone I the excited advantage healthy. again.

Operator

you concludes your may at conference. Thank participation. you And disconnect this time. This for your line today's

South Plains Financial (SPFI) 28 Jan 212020 Q4 Earnings call transcript