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LUBBOCK, Texas - South Plains Financial, Inc. (NASDAQ:SPFI), the parent company of City Bank, announced Thursday that its Board of Directors has declared a quarterly cash dividend of $0.16 per share of common stock. The regional bank, currently valued at $592 million, has maintained a consistent dividend growth track record, raising payments for six consecutive years. According to InvestingPro data, the stock offers a 1.66% dividend yield.
The dividend will be payable on November 10, 2025, to shareholders of record as of the close of business on October 27, 2025.
South Plains Financial serves as the bank holding company for City Bank, a Texas state-chartered bank headquartered in Lubbock. City Bank operates across multiple Texas markets including Dallas, El Paso, Greater Houston, the Permian Basin, and College Station, as well as in Ruidoso, New Mexico.
The company provides commercial and retail banking services, along with investment, trust, and mortgage services to small and medium-sized businesses and individuals throughout its market areas.
The announcement was made in a press release issued by the company.
In other recent news, South Plains Financial, Inc. reported a strong performance in its second-quarter 2025 earnings, surpassing both earnings and revenue expectations. The company achieved an earnings per share of $0.86, which exceeded the forecasted $0.77, and reported revenue of $54.7 million, outperforming the expected $52.02 million. Following these results, Raymond James raised its price target for South Plains Financial to $42.00, maintaining an Outperform rating. The firm’s net interest margin expanded by 9 basis points to 3.90%, excluding a one-time interest income recovery. Additionally, South Plains Financial increased its quarterly dividend by 7% to $0.16 per share, payable on August 11, 2025. The company also redeemed $50 million in subordinated notes, following approval from its primary federal regulator. Furthermore, South Plains Financial updated its bylaws to align with recent changes in the Texas Business Organizations Code. These developments reflect the company’s ongoing strategic adjustments and financial performance improvements.
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