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PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
 12 Months Ended
Dec. 31, 2025
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION [Abstract]  
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION
19.  PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of South Plains Financial, Inc. follows (dollars in thousands):

CONDENSED BALANCE SHEETS

   
December 31,
  
   
2025
    
2024
  
ASSETS
      
Cash and cash equivalents
  
$
80,159
    
$
104,856
  
Investment in banking subsidiary
    
465,084
      
436,989
  
Investment in other subsidiary
    
51
      
51
  
Other assets
    
11,036
      
9,060
  
Total assets
  
$
556,330
    
$
550,956
  
                 
LIABILITIES AND STOCKHOLDERS’ EQUITY
                
Debt
  
$
60,493
    
$
110,354
  
Accrued expenses and other liabilities
    
2,000
      
1,653
  
Stockholders’ equity
    
493,837
      
438,949
  
Total liabilities and stockholders’ equity
  
$
556,330
    
$
550,956
  
CONDENSED STATEMENTS OF INCOME

   
Year Ended December 31,
  
   
2025
    
2024
    
2023
  
Dividends
  
$
49,550
    
$
31,400
    
$
35,000
  
Other income
    
88
      
102
      
100
  
Interest expense
    
(5,644
)
    
(6,721
)
    
(7,294
)
Other expense
    
(2,383
)
    
(2,168
)
    
(1,897
)
Income before income tax and undistributed subsidiary income
    
41,611
      
22,613
      
25,909
  
Income tax benefit
    
(1,667
)
    
(1,845
)
    
(1,904
)
Equity in undistributed subsidiary income
    
15,193
      
25,259
      
34,932
  
Net income
  
$
58,471
    
$
49,717
    
$
62,745
  

CONDENSED STATEMENTS OF CASH FLOWS

   
Year Ended December 31,
  
   
2025
    
2024
    
2023
  
Cash flows from operating activities:
                  
Net income
  
$
58,471
    
$
49,717
    
$
62,745
  
Adjustments:
                        
Equity in undistributed subsidiary income
    
(15,193
)
    
(25,259
)
    
(34,932
)
Amortization of debt issuance costs
    
139
      
186
      
186
  
Stock based compensation
    
2,624
      
2,318
      
2,157
  
Change in other assets
    
(1,976
)
    
3,532
      
(3,378
)
Change in other liabilities
    
347
      
(1,552
)
    
1,004
  
Net cash from operating activities
    
44,412
      
28,942
      
27,782
  
                         
Cash flows from financing activities:
                        
Repayments of long-term borrowings
    
(50,000
)
    
—
      
(12,372
)
Proceeds from common stock issuance
    
451
      
—
      
—
  
Payments to tax authorities for stock-based compensation
    
(933
)
    
(759
)
    
(731
)
Payments to repurchase common stock
    
(8,526
)
    
(1,340
)
    
(17,763
)
Cash dividends paid on common stock
    
(10,101
)
    
(9,154
)
    
(8,745
)
Net cash from financing activities
    
(69,109
)
    
(11,253
)
    
(39,611
)
                         
Net change in cash and cash equivalents
    
(24,697
)
    
17,689
      
(11,829
)
Beginning cash and cash equivalents
    
104,856
      
87,167
      
98,996
  
Ending cash and cash equivalents
  
$
80,159
    
$
104,856
    
$
87,167