SPFI - Earnings call transcript Q1 2024 | South Plains Financial, Inc.

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Operator

Good afternoon, ladies and gentlemen, and welcome to South Plains Financial, Inc.

First Quarter 2024 Earnings Conference Call.

During today's presentation. [Operator Instructions].

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

Steven Crockett

Events Thank the We The press presentation appreciate and Brent call. spfi.bank. good related Executive Officer; afternoon, earnings our and our News website, our our and available section today are conference President; Newsom, Griffin, here With of you, earnings earnings me Chief Chief release Curtis Chairman Bates, and and Cory you our on operator, joining are everyone. Credit Officer.

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

in the we to during over to earnings most evaluating believe release are comparable hand our Curtis, it non-GAAP measures Additionally, useful our call, let may measures earnings measures, presentation. GAAP today's also in these and of performance. certain discuss which you. found be non-GAAP me we in A the can reconciliation

Curtis Griffith

our as well customers' relationship. first initiatives across as business review our Steve to earnings good of on results. recoveries quarter the growth yields, by with today's to loan our will stabilize presentation, we've time our on first the of and portfolio cost bank. first of the our combined net financial see X our well then initiatives rate a of our conclude Cory with Slide quarter will as become a I'm quarter increases. driven and as I our some On interest briefly afternoon. interest with more Steve, Starting our loan discuss of banking you, slowing pleased spend Thank to deposit XXXX margin including drive will primary results results as review philosophy highlights detailed improved call, started

loan credit loan it was manage offset move by Our we've end the first to paydowns though as typical first total of well that aggressively evidenced working bank.We portfolio loans XX through our basis payoffs ratio nonperforming quarter. seasonal by strong production the of of was our was of to the the assets, as continue been at quarter, the as early our agricultural several of out quality points to the largely which only assets

start loans the classified our Additionally, the since lowest the remained level pandemic. of near

I adequate Lastly, competitive business. how while we delivered competition as believe banking results, are a proud loan we we a which through testament growth provides for and a the remains advantage, year. fund remains of our our we environment, and move modest am employees, deposit deposits franchise challenge community-based do liquidity our as current the growth culture in to to deposit our

of the long-term is statement mission time talking we on the spent on that not our well to power transactions. our calls, as relationships and we're and calls South At live our to values. core as for discuss these purpose that use On compass succeed often and not we've behind focus looking relationships people better. relationships help is What about Plains, customer our

their goals. to solutions personalized help customers, our them that means providing For advice achieve and

product our our do ensure peers. we better than this years, invested people that we've to in the Over and can

have we organic creating customer result, providing growth we of is we've executives our demand leveraging that been in place dislocation meet opportunity taking advantage the across This experienced relationships believe dislocation the also I significant across is take is that recruiting achieve can that markets. time treasury bankers while occurring To a today, As dislocation, what over dissatisfaction, advantage customer which to to our with we the markets. move to management this Plains. see our of South further by

signs providing have approach first those become our on a we strategy the needs go-to-market identifying primary also this us positions to and needs. already with By We business more see our customers. approach, their customers' bank. challenges. That taking their of been customers' early focusing win are sales refining by our solutions-based meet to our is and needs as resonating and product then success to the We've started right

regulatory our necessary per over our levels steady for increase well dividend This quarterly on to is we be also which dividend be $X.XX This on XXXX, dividend. paid minimum XXth share to And quarterly focused we the of the exceed past through quarterly XX, bank an the Board growing May of capitalized. shareholders company April deemed while record authorized on a both stream will our income week, dividend, XXXX. to for a Additionally, significantly of prior consecutive our returning our be shareholders levels. Directors X% are XX,

February value. a to that authorized at trade intrinsic stock Our belief shares million $XX of to our repurchase our in Board given Directors continue discount a also program

let to Cory. Now call the turn over me

Cory Newsom

as good held everyone. the and linked portfolio Starting through quarter Thank first quarter. steady Curtis, on Slide X, you, compared loan the to afternoon, our

and in residential general in watch million of portfolio. loans. list $XX our million property reduction principal construction $XX indirect in multifamily seasonal million a our a decline loans of largely single-family production we Importantly, $XX had Further, reduction auto agricultural paydowns, $XX loans offset in loans and commercial million in

continue to manage portfolio, of loans aggressively the watch loan bank. our As list quality credit moved on, on touched we our are that Curtis of the several having out

take with to and the credit approach We credit very loan continue to our will of a portfolio. are quality proactive pleased

little of loan growth. compared the loan on Steve give the we by to X.XX% the as in to The our quarter. loans XX up the X.XX% headwind full in in bit in million in metropolitan first growth to moment. a low of quarter. X, year Dallas, compared X.X% increase single-digit confident a yield $X.XX Stepping portfolio remain is was in $XX more billion markets our basis to grew color as and this annualized the quarter, points Paso major We will the to or So, quarter. on Slide linked El guidance linked first loan Houston our a

in after Odessa. to time to for to just and relationships to attract bring all are the invested takes opportunities beginning The continued of been infrastructure. some are their careers. bring that gain Citibank can growth bank, our the in are we've we bank both across stride brand that Looking to continue and culture in years loan who to competitors the several is It forward, organic relationships cases, our given for our time experiencing these banks changes, To see. rural and our ownership region add a Basin an we These changing will build Plains. fit people, dislocation Permian selectively Midland seek is and we've relationships metro acceptance markets, we creating leadership South starting that new both to as first lenders our deposit opportunity to and market, is the is and go high-quality and and hit in in a brand which branches as to business through your

our long-term Additionally, and we growth the runway us. believe we that investments the our remain opportunities across optimistic of markets made Permian organic the across market. have that have demonstrate have commitment We long we a to with ahead

have headwinds with repricing do income Slide growth, recent experienced So, opportunities to on X. slowed we drive loan have near-term we've which for loan interest growth as

to to many earnings deliver lower to interest discussing we we and/or loans rate experience calls, resets. on principal As rate income as continue have expect repayments continue been prior growth

to the half interest the of margin -- of fourth rates this liquidity our begin of While yields to and in we and year may and lower in interest into evidenced we net cut elevated second income accelerating the expect some third net begins this second the majority the This of XX. should in to loan at benefit interest given half Slide XXXX point this believe XXXX, in remain year.Turning market. repricing quarters

not loan approximately first this by the risk remain changing million quarter quality with higher a while how our cautious portfolio. at Through $XX We're price moderate compared competitors on the of $XXX.X portfolio credit to of XXXX. in seen the the volumes are Our the to quarter, million shrink. indirect aggressive also focus we decreased we've clinical the spectrum. end as end gradually portfolio credit seeing maintaining our and fourth We auto of more becoming the quarter of

can portfolio points due, the quarter. XX The for quarter, in the quality days We the credit will our XX-plus never from sake points in seen sacrifice quality which strong of indirect basis growth. XX of down past in were basis first fourth credit be

Additionally, we of as to typically consumer. monitor is see XX-day with XX- past dues signs our where trouble this to begin you the closely

to these of $X.X see as the compares of in after rights XX. Importantly, recorded to as quarter linked quarter loans million the first value to million of in an linked to we quarter, level during Slide the did modestly interest primarily $X.X that the the fourth compared quarter the to in XXXX. servicing $XX.X in We mortgage asset We late revenues. of past quarter $XX,XXX due due increase This $X.X affect a the fair banking falling mortgage the not in million value our first an write-down in first the increase quarter.Turning noninterest generated in quarter. which million the was rose income a rates of during increase

managed breakeven to the calls, we while or at prior we the run in on the team business the as discussed As eventual ensure housing cycle near of starting having our the are mortgage the and cycle place the has it at nuclei upturn a would we for market. volumes believe aggressively modestly bottom have to pace first in managed quarter. rose see our the in purchase benefits We well residential have

wins, also in on successes earlier. seen management our business treasury as We Curtis beginning touched see are has to team our customer as

expect increase for income We moderate starting momentum visibility. a treasury in fee management quarter in second as see the to

quarter, first noninterest fourth the of bank For in of to the XX% XX% revenues quarter XXXX. as income was compared

Steve. noninterest grow to our We a call focus I over the team. our to to now remains would like continue turn of income

Steven Crockett

Cory. Thanks,

compares quarter. quarter, the first diluted share per $X.XX in in per the was year earnings linked quarter which $X.XX, and $X.XX the to For share ago

as Slide that in interest million quarter for income for to Net was Interest in loans quarter, on quarter. a was income. interest XX million income loan million in $X million loan in $XX.X the the previously XX. which includes overall first rise due yields, $X.X been the The to Turning was million the growth mainly The loan quarter, primarily first by in $XXX,XXX on maintained due in points income interest expense deposit given increase compared in to a increased continued $XX.X expansion in $X.X recoveries in rise interest income largely interest linked growth had the approximately first to costs. offset basis a of interest nonaccrual.

calculated deposits. rise margin interest our of as NIM first to offset in interest was recoveries, due was net The primarily X.XX% loan points linked the the to point in quarter. in tax Our compared including equivalent basis cost from higher to on X approximately quarter our X basis the X.XX% by yields, partially a basis increase

cost linked through as Importantly, the mitigate XX.X% at deposits our steady to noninterest-bearing and first the funding helped deposits of quarter total in rise compared quarter. to the our held

As first outlined quarter, from in cost basis an basis our deposits points on of points of XXX the the quarter. XX increase XX, was Slide linked average

steady. had maintaining resulting in be in the the interest and rising led to funding year for rate to environment deposit rise the our we've competition deposits, core to in franchise increase remain continues relationships, our costs. has Overall, which proactive deposit Given over past the

modest Looking the could expect XXXX. upward to on our second NIM which costs, subdued.However, pressure to of trough expect we ahead continue to the deposit second pressure quarter through quarter, growth slightly remains if loan we NIM our

XX. Slide to Turning

from the quarter.Our largely end of XXXX. credit Our credit in losses was in for quarter, of investment which quarter. a the X.X% an totaled first for of quarter, at decrease losses quarter, end was provision unchanged million the $X.X at at We loans of the prior the of was from the million loans to activity first largely the which attributable total the end ratio $XXX,XXX to first held recorded the allowance nonperforming $X.X charge-off net end for

for was credit to Slide at allowance X,XXX% losses XXXX. March XX, Our ahead nonperforming XX. Skipping loans to

result The increase from million expense linked personnel a health quarter. of predominantly care in incentive-based million $X.X compared largely compensation. million noninterest quarter costs in costs, insurance was Our in higher the increase was and $XX.X came million an which first the to $X as rise in the $XX.X of

quarter, the rise level to ahead season. Looking volumes quarter's we mortgage the spring the expect modestly expense as selling first to second from noninterest improved through

Moving XX. to Slide

concluding well of the million first end quarter, XXXX. tangible of market remain tangible by net fair the of We long-term the as period. assets first hedges book of in increased -- common decrease of compared XXXX. remarks. to X.XX% of of end as value Curtis was largely quarter the end equity back fair in the will after of for turn interest share end offset our of value increases of with dividends during to rates from at I'll quarter the We call available-for-sale the a $X.X capitalized income fourth net the the the to after-tax the mainly as per paid of securities, of result value to $XX.XX $XX.XX unchanged Tangible

Curtis Griffith

for of that is very clearly organic many Steve. and I strong, margin growth To shareholders. to loan The as results, both we employees our you, Thank that am is to bank deliver believe our portfolio will their operating stabilize. commitment have we customers. the a bank the to credit our quality thank high is I'd conclude, underway our to value our of and like efforts and at proud to beginning which demonstrate level initiatives our

for would any you your their open without continued please success line today. hard work. not for the Our Operator, possible questions. dedication Thank and again time be

Operator

[Operator Instructions].

is from question with Brett first Hub Afternoon. Group. Rabatin Our

Brett Rabatin

in then I that Can we talk from of talked a to with that. and the fees the fee guys some you any see bit start here, and magnitude quarter? wanted you might about from little income And platform, expecting this partially as showed to DDA stronger treasury of result wins about treasury? be up maybe of if a

Cory Newsom

a area. the price any I under start make weren't we a because we that resetting we've -- yet fees in relatively necessarily of underpriced coming ourselves the Brad. that in trying back, of Through we we sure Corey, out to increase gone didn't time gone probably, a lot we of would a guess, XX%, to lot that out spent we'll is This our And seeing by pricing. started decent out sure teras that, our think range make of I of market through don't up showed that of some lift, figured XX% we've way. lot

talked see and simply So, one we'll I the think that's of think taking the business -- just we We fact there. we were continuing new add consideration the bring we're looking that. that we to even to on into it, when at that weren't in

definitely think So, see lift. going we're a I to

Brett Rabatin

Okay.

Curtis Griffith

accounts a a This one ones what that's in is total to hard just of significant couple perspective, be. going company one personal is of me can ago from pretty a give the outside our the increase I you treasury volume days Curtis. number there. really will on see other informed But that a our of

to been going be structure. what having significantly fees it's under new than the we've So, in more

you've they got with accounts. So against that make we'll going and back earnings within market. I in but fairly two. numbers think bump And course, those have do what's customers again, look to we're understand laid of charges customer for closely the we substantial work a primarily But we on, credit sure staying

account I'm of that. direction going. with on depends So, all it the we're just pleased balances the really But and

number the it's show something part I will the... back going to on a you noninterest meaningful be think see income up

Cory Newsom

reports. We running think But to don't this impact customer on one inclusive as overall We we've be meaningful. spent want think be to to any it's it lot to impact is how a massive know issue. going customers. we level, that of do I our time becomes going it's impact where going a to clarify an an

stand to going don't to But because significant. from position with and business we've I look jeopardize it. feel feel a like we're tried think to So, direction it we about ourselves that at it's so good every in

Brett Rabatin

like Okay. powder environment for are we're capital. buyback as healthy. keeping term for just I That's ratios get to wanted the some maybe appetite see your then in. to sense wanted what dry you maybe for M&A near the And seems helpful, really right guys. It of and your the about capital talk And I versus levels

Curtis Griffith

Let me one. at as Really, at take a crack capital having might on that X we components look we things. use how

plenty First organic foremost, for sure be have we and growth.

we -- keep in the we're of current some there. a lot There will good the well. rate presentations I as growth giving. see with opportunities is is environment, think Texas even emphasizing doing there's we

to are plenty to pipelines of need picking up. that foremost, Our capital up. do and back first And we have,

some aggressive but year we're board will it's going to buyback. a for maybe with keep as a not place as We authorized. to buyback now, going use last be We're in the were it, we probably for what

levels So, own environment, given at to we'll terms else buying provides works feel stock. than that in shareholders the we is think more see acquiring comfortable do our and how stock media I our better some a an anybody buying of that current benefit acquisition. that the

to So because we an keep fourth acquisition on I pursuing cash a find right to And to going going But do take that have my today, I we it if that one good down just that would don't be now, deal the looking happened just to drive would it come we it, because it, at return get available good we'll in to shareholders. back we're some rates you seller need place, tangible, in there, third see to be look willing over looking we're then opinion. some know normalization any that came we overall the will we'd think paying powder that multiple that. for until be a don't along. out anybody whatever to to believe or nearly call reduction dividends at you're right have try we want if at list,

Brett Rabatin

That's really If one. one Maybe talk the moving helpful. last Okay. I some about sneak credits could out. of in

still And in you in think that that the that does build guys growth do more is kind reasonable? pipeline back some see of kind Or with number here of You half? the mid-single-digit XQ? that of from

Brent Bates

then that, when we I exited remain the confident up we're portfolio going, the of on I single-digit This pipeline we the ag That's mean, the top production think had that quarter. of seasonal an about Brent. growth. in really feel is about have our And very you decline some that and the credits that indication substantially we and quarter. still seeing of flat. end toward come first first

I quarter. think I put even can second see make to second some as start that in growth the see early the as quarter, as a good So

Cory Newsom

times. when mean, I Brett, everything a them. in working a seeing work got exit portfolio at of kind we some exiting I'm talking points weak that want some environment. And I all of few we'll we to that. but I'll -- start way of we of out portfolio of. can proud think more our going retain credits, very we I I with majority mean be little We'll about mean distill it. mean, much don't bit extremely do we more. start we're to be we're -- the our But we've our to we're -- And proud

Brett Rabatin

the Appreciate color, guys. all

Operator

with next from KBW. question Woody Lay is Our

Wood Lay

just couple they a credits a exit. one-offs? did on in were they that of truly watchlist concentrated you the just segments? any Maybe Were Or follow-up

Brent Bates

Well, Brent small from was It this multifamily a largest the size, credit. kind medium mix a being of of again. is credits to

Wood Lay

interest excluding you opening couple margin. it will be the of second you if the recovery, quarter. to so in Got Okay. down out, impact the remarks, be on assuming the I net I'm shifting of that's apples-to-apples Maybe it modestly from strip points could over your basis interest said that basis, in an then down believe it. there? a

Steven Crockett

Yes.

yes, So, basis points this we in that I mean, X is Steve. have number.

every there's been and the to from could costs again, decline going just deposit it market, rates really XXX. single lot been on say have a that number start our a going we've movements slightly there. even as changes would in we So, little in day of from at what's stance But bit. seen and We're

allowed the been moving out that, up upward on quarter. And but hoping trend, so, interest, that that of a little we've was credits some the bit with that nonaccrual had that us to of that some those bump we'd during be

Wood Lay

you then based do And the I the it's of starts the year? expand on realistic repricing, to in back the Yes. mean, margin loan half think

Brent Bates

the able the we Again, loan given new out be interest exclude say of fund know rates, we're see I would what you given is yield we mean, that today, markets, generally And off they higher can see you those increasing. as some loans, change even which getting stuff can recoveries, to if should are that. the lower the at we at book. I

had good So, right somehow what having growth. maybe that think reasonable. if I But think loans, bit more is headwind you think If to given a we said we payoffs forecasted little see I we I change now, feel earlier, loans additional that's have have given not loan could we are that.

Operator

Our next is Sandler. with Stephen Scouten Piper from question

Stephen Scouten

appreciate far all so the color here. I

has new Just yields quarter average, kind in the But some cost -- on loan I talking on me bit the of coming give about and feel loan deposits coming momentum seeing Brent, where what those already. could incremental of you're new for that and the yields on you we're new a higher the than curious are a if wonder of been? kind of

Brent Bates

This is Brent.

pretty growth good if I we the of paydowns. pipeline, quarter. first far grown real earlier, in and saw It's completed CNI look C&I I quarter a seasonal as construction nexus business multifamily, about some our But at both then residential mean, growth, properties. I in talked And estate. haven't talking first again, a was about As and rental was growth, business we projects. which and the most

deposits that's the from. far really as coming of And on where growth And the then cost the. so, as is I mean,

Steven Crockett

trouble we much good floors Primes. that to on of making From about a not the a we're having with putting mean, do how doing job trying sure pricing very -- in standpoint, though, We're we're careful and stuff yet. we're that be I

Brent Bates

Yes.

On obviously, coming we the fairly we're to mean cost mean do But flat. deposit in new deposits putting new I side, it's business a we're although mean, -- relationships with some able the I overall you of do -- the at noninterest-bearing, lower lending some I putting see still were see level. mix. balances on that some get I mean, new

On to the high end, stuff there's on a pushes mean I lot that up definitely competition mean X%. the I there's deposits. of still here

at Fortunately, the of for the quarter be into shorter end our will the liquidity some that that allows term of position a loans. accretive getting little bit of room more in us deployed to

Cory Newsom

And I back. bring that a to one cost watching away But much able thing them back. can think of been if strategically we're can. it do move some when works. to need we relationships those with is are lot higher we We have deposits we it to when exit to very though bring those then that

Stephen Scouten

of much to have you not hand, off time? do have your very Cory, helpful. may how on -- know Yes. this happen you in No, floors the with might this of terms at in loans And point but that's you book

Cory Newsom

one. company put You got a on it that Steve?

Steven Crockett

have handy like. either. in I I do not that have I was front. just don't here that

Stephen Scouten

encouragement pressure of know And it early of then kind you maybe problem. kind deposits deposits to last this signs least some noninterest-bearing mean kind said that in starting I XX.X% I of average Do guess, further. little referenced to a into digging you you no kind of that you very to XX give those think What just quarter. Yes, that deposit stabilizing can seeing you cost bit stay and some noninterest-bearing range? thing. are the of just kind at this exactly

Steven Crockett

seeing good things. in had We're the quarter. I mean, we've good last luck some

got quarter, do tax payments. of you this payments -- you've tax lot a out, have going However,

to little And the so management a a from we those be reasonable I -- trying base at a which account a cost of initiatives But different with deposits to about are just bit just got, things and think treasury that we that other that on few types. can them. grow broad talked

it going who's mean, us the help success somebody institution. -- get think of at there. we there's there's of shown But focus increased to I -- see can I will still lot and there single day a be another competition they what the every

Cory Newsom

the larger XX question is that. I deposits, think even points on pressure. that. today than you There pricing were we're XX I them to we basis will I that tell facing cheaper find no months from carefully X way in But slightest consistently, away were don't very doing ago. anywhere And we from we want doing ourselves that that

Curtis Griffith

at CD the really I'm seeing in seeing media, -- not what just of we high many in a the see months advertising just looking as are as were in specials rate market, we our we [indiscernible] few certainly ago. our

pressure perhaps. have on think of has a out And books there reduced got perhaps liquidity needs those, think, competitors enough little some I they that. So, of our the on immediate it and address

Stephen Scouten

more some great hear people Glad being to rational. little color. That's a are Yes. bit

and So, on I color quarter a appreciate the congrats great all here.

Operator

[Operator Instructions].

is next Raymond Yanchunis Joe from Our James. with question

Joseph Yanchunis

Good afternoon.

then handy, So, I kind that's how do versus here. And of gross was and quarters? circle kind prior on growth had the of you production back how to that loan trended hoping maybe quarter you have in much

Steven Crockett

don't can I tell I better. -- handy, different. I I I mean, you, not of -- segments do a quarter, last I some is of in -- you to Joe. it different when -- first that But Gosh, from mean the the the mean, factor little have year are areas half the production it's feels back

mentioned bit as we're growth we a other with being contracted. we kind area of all per industry in auto, well, And in in earlier, that's -- driven. So, not ag that by down. chasing And little areas, pricing cheap. too

the back it the is beginning but I our feel now. pipeline better it comparable to quarter than do of right was was So year, like little no, think I at the of half bit a first last

Curtis Griffith

Curtis. this Joe, is

get I'm we wanted one markets, We X.X% can even some at thing with first those obviously I of about in some of rate. flat credits some and were that That's on annualized as think But to our out though look of we even X.X% overall. a loans. happen. we those got that expect what have that -- in ag markets, looking couple growth we'll I markets did in rural that we well an had, farm that And you and in look in Slide here those exit, and have rate starts at, at was up we X, loans did if markets, -- metropolitan there. you place will a to we growth while not couple as other funding growth that's we start quarter, seasonally as reductions still Lubbock we that even the

feel So, pretty It's still like more hitting dependent better out I on and on they think gauge now. economy about us it single-digit can good just be interstate right our for the that. least and than growth the kind low of borrowers year, what could at make there I they

Cory Newsom

don't --the we've the any off. has we first in I second part had think how sites the kicked way of disappointment of quarter

Joseph Yanchunis

of to picture step kind of to management, appreciate Okay. take big want just kind back that. I and here. I moving over a And treasury think

the or new success look quantify you noninterest-bearing if would we at So, X, this deposits can increased say, from next what your X whether that's look over, years? fee initiative, income refreshed like approach,

Cory Newsom

our it meetings. -- listening into have so you been Is

overall quality, gets I way. look are we're But my I NIM They're and we of that education. we treasury. area side think willing do, down don't it them front turn I think what I we and to And care to fee have on our perspective a at it do it. can -- thing of take we're it of isn't success get continue That's on. the up piece to lot takes And on that level a do. can and of And an a daily in in so we I continue we've drives time the gets clients. treasury much is, what we of what is are income think the in focused approach doing to We it mean that. that new But the And a from to with bigger. mature to from trying to such a increased to just both. we it the a we noninterest-bearing how mean, the had. we're good to better every talk having, and understand deposits then service at, basis what that treasury the very mature get put better I basically teams around. of The effort thing we about it

We have good products.

of it's coming And good end, on pricing not we're We the at the on it's else, anything to but having. deliver way. as are discussions. into bring beginning, focused be gets all have at worrying pretty of the how at end we're quickly, as with those the going think in or wins to is stuff, think we're loans the sitting But at these the it treasury that's the very easy and table than all and everything look deposits. slide having from. to we we day, the play operating this We the here I income And our where when at teams, other increase down accounts

Joseph Yanchunis

on the that. Understood. I appreciate color

Operator

the will reached question-and-answer I Griffith to We the turn our now session. call remarks. over of closing end back Curtis have for

Curtis Griffith

several from markets high-quality operator. to Plains. our team I'm everyone today. of customer banks' us. to had in The with South open for bring the doors Thank continue have many we in you, other for pleased in how disruptions of opportunities We've and XXXX. our relationships we're a leadership to call changes ownership participating solid you that front begin Thank in to very quarter pursuing our to

and experienced we our and key to the a profitability. very future. continue time you our I'm to again in part shareholders, today. talented of optimistic customers is Thank with remain of our our markets relationships that because about and building our all for be blessed strong I very to of believe growth bankers customers your personal family recruit employees, We and

Operator

conclude Thank today's you. This will conference.

at You and may disconnect lines time, your your participation. this you thank for

South Plains Financial (SPFI) 25 Apr 242024 Q1 Earnings call transcript