SPFI - Earnings call transcript Q4 2024 | South Plains Financial, Inc.

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Operator

Good morning, ladies and gentlemen and welcome to the South Plains Financial, Inc. Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the call over to Steve Crockett, Chief Financial Officer and Treasurer of South Plains Financial. ahead. go Please

Steven Crockett

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

All this other I'd call are results call harbor those future begin, to could in those like in press from statements. our comments statements Please variety everyone that cause are materially safe implied contain we and may harbor earnings Before presentation. subject of and remind forward-looking expressed during risks, made factors subject our actual anticipated or results. a to today's safe statements to differ uncertainties release earnings see to our and that

herein as by law. to are statements, required update as Any duty forward-looking except made such any date statements of and do undertake only presented forward-looking not we today's

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

over hand me it you. to let Curtis,

Curtis Griffith

of with the more briefly capital our well loan Thank quarter of offset On being as seeing, you, are will our will detailed will update review call, we full then review by results. an conclude that is a demand underlying strong on Cory Steve allocation the financial the discuss highlights headwinds continued Steve, payoffs. year and and morning. partially results of fourth provide good unexpected portfolio our I which priorities. XXXX our as today's

are managed our solid management. past improve performance and to We metrics, liquidity the we underwriting we maintaining appear we year return approach a through that our advantage profitability risk am and take To the environment delivered our of start, of of optimize in to proud all growth headwinds we financial we year and challenging I as We this as to while experienced expect very believe that conservative to results. managed successfully a be well the the economic see while that opportunities pace in ahead positioned diminishing. XXXX to

$X.XX Slide year to of in our presentation. delivered per Turning as to We XXXX. of for diluted full X earnings compared $X.XX the share

subsidiary the As $X.XX. XXXX, of a of reminder, insurance in we diluted earnings of $XX.X onetime second million which taxes, wholly-owned resulted quarter in charges sold share bank's a per net Windmark, the and our gain,

loan We this helped share. the we year our auto that the by and portfolio indirect outperformed as X.X% effectively XXXX us Excluding gain, production grew year $X.XX one-time the as as diluted of our payoffs loan loan paydowns. for full heightened the level through built manage portfolio per in well decline

production we our translating quarter pipeline the strongest X years. that seeing base customer discussed our call, are business on seen that we than is across new real As more into we've in third optimism

we promise managing This ahead take bodes year. did to low as the full the under year to pride year positively over past loan growth strive and mid-single-digit deliver XXXX. for where this we we in the expect always to for deliver We conservatively bank as

balance other of side our the sheet. to Turning

held December as billion deposit steady at XXXX. to in XX, franchise Our community-based XXXX $X.X compared

while declines by decreased accounts, approximately optimize $XX typical $XX and to deposits we controlled approximately which our escrow experiencing Through margin in in our we as our managed be carefully our can also million. returns fourth seasonal quarter the seen by million the liquidity year, where our down

to see rebuild expect accounts deposit held through as year customer growth occurs loan Our core deposit through the and balances we steady quarter, ahead. the

match add year. will pace growth loan of through the We the liquidity carefully to

a competitive Houston in El Plains of markets deposit South major in franchise of Our advantage with our community-based for and our remains metropolitan Paso. markets rural Dallas, XX% our and XX% deposits

makeup to deposit our franchise, more Given primary will we points which of our quarter, the lower reprice the in which deposits of discuss by was XX some able moment. basis a in were and a in driving factor fourth Steve higher our NIM

and growth, with of our said continued pleased varying positioned have economic strong well we the credit We never portfolio quality sacrifice believe for times, that loan as many we credit As I'm are enter we will for conditions. XXXX. loan quality very we

delivered X.XX% of full ratio the efficiency an XX.X%. assets we For year, and return of on average

a Looking to be deemed we well in strong to to continue levels and growth position the that each ahead, the capital believe significantly as opportunities on we minimum exceed necessary the be capitalize company bank regulatory to drive also capitalized.

XX.XX% and our XX.XX%. was At common leverage capital X risk-based December our X XX, XXXX, Tier was equity consolidated ratio ratio Tier

held loans our at XX% investment year-end. for ratio Additionally, deposit to at stood

our Given both steady remain the shareholders of to returning quarterly while also income stream we through a growing position, our our capital focused bank dividend.

announced Board share a $X.XX authorized this Directors our quarterly week, dividend, consecutive our dividend. which be per As of quarterly XXrd will previously

XXXX. in XX, We than later stock expire which $XX February also will place have program a million repurchase no

to environments. plan to Our in a next generally it's believe month consider during flexibility have another important repurchase authorizing as volatile Board will have place buyback share we market

commented remain liquidity as As being for economic as activity to uncertainty last well that expect more of we the buyback we our mindful balance continued exists. we muted as growth quarter,

in bank deals the now under the with much to quicker completed balance unrealized securities Looking quarters losses optimism be can forward, and new we despite presidential administration still pick on bank growing. that activity expect the growing coming community sheets up M&A

diligent acquisitions have not for We expect team opportunity looking our to our meets more yet this high that be to even but environment, we seen in potential pursue. an at hurdle

bank making our to earn a and with while criteria dilution acquisition a strong reasonable the while shareholders. Our shareholders, minimal back remains having our for sense focused fit cultural real

ahead will any on markets we shares. from back up, also while buying weighing benefiting comfortable staying picks experienced from over few growth organic we what see and last much own like the are that activity against competitor transactions disciplined occur our remain sidelines years. disruption does in economics deal substantial have the of any As and We the our

let me Cory. Now turn call over to the

Cory Newsom

Thank everyone. good Starting morning, you, Slide Curtis, and X. on

in decline to through million linked the which real Our loan in our short-term increased essentially the was was prior payoffs billion quarter more owner-occupied constant fourth to loan fourth agricultural estate, continue quarter that X.XX% were as than in combined quarter, commercial to from and and December. rates offset $XX.X typical portfolio in experience We to in able the $X.XX on keep quarter. growth we the experienced the September occurred the fourth in compared loan seasonal portfolio despite decline yield paydowns unchanged the that with yield through We balances. The the the quarter.

decline to Looking on have range and could a segments. experience our maturities of yield forward, a we interest as repayments in rate wide we slight the across continue loan portfolio

El Skipping to million of fourth Slide the markets X. increased $X.XX and Loans to in quarter in our Paso billion. major Dallas, $X by metropolitan Houston

loan experienced quarter, demand which Houston as also markets Odessa. this in elevated underlying growth. again Permian payoffs said, as and That impacted of metro Paso across loan Midland our well El markets has major been strong and Our

the loan also continue portfolio loan ahead that of our have our to end, only our metro total represented achieved, loan that opportunity for major XX.X% portfolio scale not lays quarter organic the demonstrate At lenders but growth.

to Slide XX. Skipping

anticipated to managed the spectrum as end We've Our has aggressive while resulted compared through the million credit better volumes been at end carefully a million the held significant -- $XXX focus million the balances relatively a decline, maintaining has of portfolio headwind end the this loan quality through the steady indirect fourth it year of of linked decline XXXX. at auto a in have portfolio credit in This on quarter have at with been higher at while to more the And competitors loan growth. $XX $XXX its or the as declined. we quarter.

recent Importantly, to seeing with translate underlying loan in growing can confident stabilization demand pricing. that given we improved that to portfolio rational loan and combined and rates volumes are the decline strong This our allow balances. will current C&I stabilize more at begin CRE the we are levels

auto at XX due also in credit from the of would that strong past the quality rise points, points the modest add remained has through days indirect a portfolio third our I basis with XX-plus cycle basis quarter. XX the

typically while loan Looking ahead our in to payoffs quarter, first elevated flat be seasonally agricultural growth an at expect we see could as continue loans pay to be early year, the continued pace. the to off relatively loan we

seen be more continues at becoming underlying momentum in our activity pipeline, in levels is middle business accelerating. business as new XXXX. highest are the of can build to continues since This also Importantly, to optimistic and the our be the which our customers

of mortgage in $XX.X in fourth primarily rights in to the adjustment income mainly value million quarter. increased noninterest Turning increase fourth from mortgage the servicing This the in that to the compared an an to rates was $X.X Slide of We've XX. of million resulting the quarter. banking quarter increase million interest revenues, of fair million as affected value due $XX.X linked in $X.X as generated

having managed disciplined the take of kept The received have the well and third trough nonrecurring by mortgage volumes XXXX. $XXX,XXX the through in selling the to for cycle mortgage to quarter proceeds the partially gradually residential offset expense spring of when pickup business season. the property the business management. growth purchase in rates advantage of believe we optimistic damage profitable mortgage looking in interest decline, of positioned decline the is income we're effectively volumes in our was approximately We the at Overall, eventual

revenues like as was to turn quarter. Steve. to quarter, to the for our fourth the noninterest in income to focus income our of XX% team. I'd third Continue a For over remains call now the noninterest XX% grow bank compared

Steven Crockett

Cory. Thanks,

by quarter. earnings was to per $X.XX mortgage rates For the rose earnings rights the value compared tax, share, after $X.XX the linked for quarter, per the in mortgage share as fair Of impacted were fourth diluted adjustment interest our assets note, quarter. positively fourth fourth quarter servicing the $X.XX of from

expense, Slide XX. The partially million income. interest in $X.X a in of income to net $XX.X interest income million largely for a linked due for quarter. offset Net decrease compared rise decline the quarter loan million $XXX,XXX in interest by was fourth to $XX.X Turning the was to interest as

XX effectively their reduced Fed repriced short-term in the to was the in fourth quarter interest point due our X.XX% in basis a NIM tax net the on quarter. increase XX The our margin linked decline as compared point quarter primarily in rate. as our to interest basis the prior compared of the as deposits to equivalent quarter Our calculated was an basis as cost we X.XX% deposits to interest-bearing

our year-end, deposits the XX.X% to At of in decline in mortgage compared to deposits XX.X% linked to as noninterest-bearing seasonal largely decreased escrow quarter, due total the balances.

decreased Slide $X.XX by to As December outlined on at billion XX. deposits million XX, $XX.X

was cost points XXX Our decrease basis points deposits from fourth in basis of quarter. the linked XX quarter, the of a

to credit prior loan for the our attributable in losses end was XXXX, the and quarter. for provision of the of increased activity at was balances We Turning by credit largely which fourth net million of to point increase the basis total to for quarter, recorded $X.X Slide loans charge-off an a during ratio quarter. from held XX, XX, allowance December investment X X.XX% losses

in quarter, the the million totaled Our from million third loans fourth decrease of end the nonperforming a $XX $XX.X at quarter. slight

our XX, as Skipping the was the of Slide decreased decrease in approximately of $X.X quarter of compared million from third fourth ahead from insurance of largely expense decline million rebates $X.X quarter. million was to primarily $XX.X quarter in result The million linked $XXX,XXX to costs the in health were current quarter. personnel noninterest in received a XXXX as a the $XX.X annual expenses,

in mortgage the activity Additionally, interest given commissions rates. in slowed mortgage quarter in reduction mortgage we the had as a current $XXX,XXX rise

fourth given quarter line quarter benefits the of experienced of to Looking salary the we to expect third onetime quarter's we ahead and XXXX, level in including be the adjustments. with annual in that number first noninterest the more expense

accumulated of to basis offset well of September value to equity as Moving The by the the of was as decrease per assets common XX, capitalized third Tangible available XXXX sale points decrease partially end million in tangible value Slide $XX.X net $XX.XX XX, income driven for decreased compared as by from primarily at after book X.XX% remain the tangible of with the XX share quarter. of an paid. comprehensive quarter, of $XX We the fourth XXXX. an income securities end December million other dividends of of decreased fair XX. to $XX.XX to increase

the Curtis for to remarks. call concluding I'll back give

Curtis Griffith

results. as of and conclude, our To I proud am very Steve. financial I said, you, Thank

We optimize the while taking of to have loan effectively to that returns ensure and we maintain managed proactive our our liquidity profitability portfolio. quality steps our credit

experiencing positioned begin levels. We are on to markets and believe remain expanding Importantly, loan both will our metropolitan under to to and demand, drive is to growth return economic we payoffs as the stakeholders. which our are new and begin our community underlying more focus come we strong that normal across well optimistic the all delivering value we to of administration as through growth bank accelerate to set organic

you to Operator, to Thank bank any over for success, year. today. our their questions. and open hard I would again line our for are continued our the grateful commitment for thank the also work please like our am time employees and the to I customers. last key your They their for

Operator

first comes the Woody [Operator with from line of KBW. question Our Instructions] Lay

Wood Lay

start Wanted stable. yields to the with was onetime remain quarter-over-quarter the Any benefit, relatively a was impressive there? wasn't see fourth in given rate There quarter. loan mean cuts. to yield interest color the on that of loan sort allowed flat what it pretty the to I be

Steven Crockett

less Steve. see interest pay really having frankly, the out at to see glad at then than and being average that is. got, was this rates had X% loans were some of of pay lower with we Woody, at X% We were to some loans paying between in that of quarters, we quite what loans bit is we what other There of necessarily little booked some a and -- off off. not even new the than $XXX,XXX just off that line that loans nonaccrued rates, those are which the higher

up, one overall, very where ended time that we nonrecurring pleased big again, no were real with So item. but

Wood Lay

helpful. level? remain stable around any higher? expectations there And That's the XXX move you do near could for then it. it Got the margin, term even is a that chance it can think Or

Steven Crockett

up going conservative, done hope lot a as what bit keep it's on will the a and little that. We're had slightly it improve, deposit rate you'll where cuts through things a flush as lot to yields of depend say. midway And We've just be were the like just quarter growth still come down and mean I at of depending out would overall, down I where mean ends that hopefully I loan we but really that we and grow that. on may ends would and we where about discussion you trend I could know, that's those see the incrementally right going that growth, loan of how costs -- see we But -- it full to kind up. and a loan -- us quarter incrementally. could we cuts. with think maybe stabilize would after for we more

Cory Newsom

Wood. This Cory. is

our to the the is. it not think we're just some us position do I opportunities gives to is make liquidity us on going overpricing sure that It fact one the cost that's side. help that thing where is

Curtis Griffith

for gain everybody, Yes. if we likely we go. to rates. for depend lot And going is one, the in indicated, they cuts not by where one that. continue more be, rate think NIM. sure you will forward would Fed again, on cuts to to with our It our what a see this like case, short-term But decides and move the may help rate We'll President do. I he's certainly, like see to but lower know

see lot minor to have got But should Cory Steve, kind just and NIM, as the as fourth but a that I where strong in year. we that things be of what through with saw the goes. still in place we've we'll see we'll agree may But quarter, but it we I not think the improvements some quite continue in get improvements to of

Wood Lay

all beating we'll Right. NIM out. see it been guide, consistently Well, you have the turns so how

to great new on mean, activity. pipeline, I loan on the all Lastly, the color it's customer hear the

that then hires? work? segment? Just concentrated one reflection Or a of it any hard a just it reflection And in of is is new is

Brent Bates

think, Brent. It's is this combination, a all Woody, factors. those Yes, I of

we've capital our We have clients And good is our from time optimism we're really think to but lot a outlays make. was and I got from year. new this that better much they're last pipeline hires, of than production planning seeing it

So we feel optimistic about it, too.

Operator

next Our Hovde the comes with Group. from question line Brett of Rabatin

Brett Rabatin

Wanted to payoffs. start on the

the amount conservative of talked you're pipeline single payoffs to number, but but or continues mid- sounds quarter? it, about number bit, you mid-single-digit gave in surprised You number like digits. that then being I it to missed dollar little quite I might I of saying I'm you guess thought growth. little that the And a more guys it to had a the a and low- loan be the build. high if

just hoping color some that. for on So was additional

Cory Newsom

Brett, you're surprised, we're being conservative.

Brent Bates

mean, the But that. real that I nothing sell or had several either higher Brett, we to Yes. to events estate events. some over-deliver of for their that's had clients experienced on reduce fourth apologize decided to and And our frankly, are liquidity striving some quarter. significant debt. liquidity payments had liquidity to were excess had decided We in

mean we're good do. want our we clients what to they them, that. fine that's succeed And with in and see for I

could that may with -- more little confident quarter, maybe we second we outpace first, selling makes that ability the in -- if to and customers repeated production sense. we're I bit and in could of be see but pipeline be think our So feel that thinking a that those, still will -- assets, that

Steven Crockett

the mean, I Brett, kind one to the comes a along. of on have I was that things stuff that see you're of of going pleased have, that seasonal the to we number

nice see we stuff investment to fight some that that for happened side other transactions back we is really stayed we opportunities here, You're daily. converted had were us to what the goes into going on life of that But and actually no people over. have of the what events that the control was relationship to that aspect to have the for it

Brett Rabatin

about And more the to ask point. you Okay. if I capital about some I just other healthy. pretty is M&A and partners? then was you're don't your bit briefly know talking But potential there mentioned interest a of gotten and buyback just the wanted at thinking using thing M&A has the your at little from this maybe lot What's about banks about you for is talk point? what market? maybe And a you're outlook that. acquisition ratio seeing Can more from community potential

Curtis Griffith

Curtis. is This

We looking see increase, in an number continue by pitched bankers. are think, the They're at a us real the ideas to to this as I of opportunity. that investment

As you lean a know, years. well pretty couple of

of So that to really anything ready market negotiate to benefit than not of a to really we got a one quite still give right not sellers banks keep get We'd rather it. our higher down deal. now. do you've multiple do enough pricing well that lot all that's far, seen the is right on anything are going we saying, good haven't trying as shareholders than to expecting rather probably that are term. the we Indications liked to at we want And long

look not if there businesses at just there's something quite make banking, while. a and so stock -- larger for and suffers you it, their many out acquisition And a that's but

value everybody's see that joining that very to We do in the institution be want the see fold. doing be like of we to no to something that. our so happy and acquired real and would going And point

more parts our other and both out keep and Texas the to continue in we're and well. see of more as to of do our going there, part So out opportunities we eyes state

it. the know is about in see what but we'll -- something probably talk we something it's to guesstimation than for we better year, maybe don't until been. later doing my certainly have environment It's So the really is

Cory Newsom

Brett, this is Cory.

would but on I well acquisition. And we the as very it, is that buy ever an got think we if one, as it. very, just think we are you we tell do don't positioned look are that's right the today I to been though one I thing focused -- much at to you

Operator

next comes Scouten Stephen of Our with from line question Sandler. the Piper

Stephen Scouten

you us versus of you feel I'm rolling the it, data if for not but yields the on have I at? to sure, yields Steve, missed where off give some maybe one a are this coming can are loan the gave earlier of where might new portfolio questions

Steven Crockett

some X% but over be in would all it end Xs, but low high, generally lower probably. probably mid in I in the range, in to they're There some. Yes. say the be could that the the will

Stephen Scouten

you. Got fixed off books the where coming average. the on of the loans repriced that's some rate as And

Cory Newsom

-- help understand me question mean I Yes. again. your

Stephen Scouten

Yes.

the a your in of and range that mean, I the, guess? I loans don't but old the off X% that books total X-year are in yield I or I or just range, to rate on-off kind know, in average yield probably X% for like So loans that dynamic. fixed but some is that are trying coming X.XX% more probably imagine that feel range, repricing X% There's some get would of

Steven Crockett

had some some as well. frankly, quite we've yield Yes. We've there, of got loans the at higher payoffs but

So stuff in generally coming the fixed and yes, be upper -- to rate that have Xs the going off. Xs is been but

Stephen Scouten

Okay.

XXX, book some So XXX reprices? fixed still that rate a getting loan as basis point it of pickup potentially on

Cory Newsom

there the in if to be credit think mind, quality Stephen, keep the good. out quality our one I of the you highest never at portfolio, is look portfolio And thing, going Yes. it's because

about stay stuff stuff what that I so good of. of our try try around in, price off really the market do pressed really whether lot We competitive. spreads And that's the really we feel we've coming we're to it's a to and it seeing to prime,

Stephen Scouten

Would would would NIM sensitivity, book, loan agree some NIM expansion liability still sure. year lower the I best for know could fixed rate No, slight kind see thinking a NIM rates I I And I'm about given but with throughout think with that? you think in obviously, of you some Yes. environment. the with respond just the stable your dynamic. rate

Curtis Griffith

are, feel confident see expansion moves we'll just NIM would. increase if again, move a absolutely in think we more keep I little still it a through probably I lower slightly down. up, our This dramatic, if our and will, pipeline favor, 'XX we'll it in we rates, the moderate moving where continue exactly got but to get reason you'll as why move business NIM, rates That's is they with And some should because, Curtis. think. not nothing short-term I

Stephen Scouten

Yes. No, that's great.

maybe And most Texas me, been for of Okay. just my information economic I've the Well, honestly, from Landman. getting

down So get your America affect of how I'd about that your that? to love economies the drilling loan activity oil potential price of could what in and kind the your you're on mean, view, economies Gulf -- thoughts could I your do for in of demand, thinking of kind how overall

Cory Newsom

blow to having well buy is happening outs are these insurance apparently now. everybody more that Brent, for

So optimistic We're service now. right where about mean guys what that's our impact is very oil right seeing I it to price probably their future is are they're going Brent... now.

Brent Bates

would I XXX% Yes, agree with that.

there's think markets. in of and a in optimism lot our Permian the I

there. and the just our of pipeline energy around so just reason because lowest this prices, producer we'll that's expanded volume see region activity area is the lot so so part And think it obviously, I the probably drive down -- you a part a the has when have country and that. frankly, why opportunities much. It's of you part cost in highest is in of Just there

just is around economies. general think, I optimism

Cory Newsom

actually look in if I at markets, the the if the size a right you customers provider, and seeing you I in we're bank, a now. look good they're class has mean, this those lot you as as size that see continuing lower look a those I result -- we the to opportunities there of good lending bank And mean it of opportunities think at of well. markets at

Curtis Griffith

where again, We'll see Texas. we'll now see to Mr. down the goes. we price but our that, is On least as XXs more get to I arm oil one parts, wants in down some. good twisted macro so going it Trump's at think don't to apparently know, new rate of the in -- see push world friends scale, a nobody But

drilling But the macro Houston lend can realistically, generally, X economy. somewhat places Houston, market offshore we for stay are, see overall Well, good we've drilling you into event pick a that a where for see really And if about that that's point. drive the the years. And the we'll X you oil really relaxed prices such, what don't good like help they regulations, than It up next business market. seen. make as for to will more in

Cory Newsom

Stephen, last thing. one just

we to that oil. underwrite know cheaper Just much

Stephen Scouten

Got a it. of area Got maybe could was bit given hear to it. helpful. that's an produce. That's of what to Permian lower sounds kind and And is, in it as itself the that's that and hoping helpful little like better I its cost do

other let's I So you the or but saying? yet, hasn't barrel XXs it per country happened in hear the is Permian down it activity, what drilling price of say, the should whatever, impacts insulated parts the take in does be more from negative any

Curtis Griffith

Sure. absolutely. Yes,

Operator

Our with James. Yanchunis next of question line comes [Operator Instructions] the Joe Raymond from

Joseph Yanchunis

kind how the But how speaking, off? appreciate have for do on the you these a historically sense renewal, loans into much want retain of a what's up coming deck I versus trying Just moment. typically bank. I get they start kind renewal. come to much being repricing for of that rolled deeper the the you little on detail loans sense stays of opportunity to So at with here in for for loans up as

Cory Newsom

thing in I is But we a Brent, -- role lot before what have to good are that renewal, we a I'll do. which plays big you... not mean, for up the Brent, for for let come up repricing though, us,

Brent Bates

That's right. Yes.

of maturing. repricing. that's all repriced at aren't been So I successful Those mean, we've loans. so pretty retention far

quarter and and in the of are had fourth the part recapture decided where okay, times, just and there course, gains experience Of advantage and projects that's we've that's of to customers payoff too. take have equity

retain relationship. retain but I may those the we that loan lost mean the relationships have

going it's So decide to them. that we've kind as to retain, predict tough to as But who's far do retained ones that. to of wanted the we

Cory Newsom

Joe, us repricing helps the are that is still necessarily up refi stays. for not that the ones And maturity, thing and penalty one

table. the on always that's So

at We're have a thins we that least we until working negotiation to us at standpoint. don't way right these early. So wait from If are help maturity. try

Joseph Yanchunis

helpful. around very rather is shifting In discussed That's on it. that progressing? provide update of optimism you resolving the Got prior to how quarters, chunky And just an over kind problem then process loan. credit. Can you multifamily

Brent Bates

Yes. plan, we're we'd just working -- It's expected. it's paying the and like

far and So trends other challenges, in really direction. the see we're work not today -- through with do feel we'll in about still sure, I'm but I but those expect not what quality and good the done, mean as I I optimistic fact our at as credit where unique we're mean mean we the future. and I what I'm that And we'll I and kind we'll get as -- of only them. we've

Cory Newsom

job I a to going we've we're have them start to of done what early. we and think working trying identify think challenges good

Operator

questions the floor Mr. Griffith, at time. would further this back we turn for to over no have to you closing I comments. like

Curtis Griffith

you, Thank operator.

Plains Financial economic As well we've for is believe scenarios. today, multiple we and positioned said opportunities South many what for

better that's into -- since optimism small seen some week, business some data in credit, I'll long just is survey conditions all national Tom do Mr. growth and And optimism Our material I've translate at loan XXXX. us the its time. for Brown's give highest best last customer think is going we to newsletter over. that a shows economic

expenses work quality on be be continue focus We'll continue of remains those So increasing M&A out looking right we'll we'll of We're to there. always all comes and and aware deal ready. the the risks going that. credit controlling in sectors. If to NIM for opportunities along, to our on and to continue strong. We're

your you to questions have Thank you. for with time any look if us. today, forward We visiting you for thank you ever and

Operator

this teleconference. does conclude gentlemen, and Ladies today's

You participation, have this you Thank may wonderful and a your lines time. day. for disconnect at your

South Plains Financial (SPFI) 24 Jan 252024 Q4 Earnings call transcript