2023-05-08 03:51:26 ET
- South Plains Financial ( NASDAQ: SPFI ) approved a stock repurchase program for up to $15M shares.
- The stock repurchase program will conclude on May 5, 2024.
- Curtis Griffith, South Plains’ Chairman and CEO, commented, “While the banking sector is experiencing some turmoil and uncertainty, South Plains remains in an advantageous position given our strong liquidity and capital, our community-based deposit franchise where 83% of our deposits are insured, and a high-quality loan portfolio that we believe is well positioned for an uncertain economy. That said, our shares do not currently reflect the Company's positive fundamentals as we believe they continue to trade meaningfully below intrinsic value. "
For further details see:
South Plains Financial approves $15M buyback