Southern States Bancshares, Inc. Announces Third Quarter 2024 Financial Results
Southern States Bancshares, Inc. (SSBK)
Company Research
Source: GlobeNewswire
Third Quarter 2024 Performance and Operational Highlights Net income of $7.4 million, or $0.76 per diluted shareCore net income(1) of $8.7 million, or $0.89 per diluted share(1)Core pretax pre-provision net income(1) of $13.8 millionNet interest income of $24.2 million, an increase of $2.7 million from the prior quarterNet interest margin (“NIM”) of 3.65%, up 9 basis points from the prior quarterNIM of 3.66% on a fully-taxable equivalent basis (“NIM - FTE”)(1)Return on average assets (“ROAA”) of 1.05%; return on average stockholders’ equity (“ROAE”) of 11.89%; and return on average tangible common equity (“ROATCE”)(1) of 13.35%Core ROAA(1) of 1.24%; and core ROATCE(1) of 15.74%Efficiency ratio of 52.79%; and core efficiency ratio of 46.96%Linked-quarter loans grew 36.3% annualized; and legacy loans grew 10.3% annualizedLinked-quarter total deposits grew 44.8% annualizedLinked-quarter total deposits, excluding brokered deposits, grew 71.5% annualized; and legacy total deposits, exclud
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News
- Southern States Bancshares Third Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
- Southern States Bancshares (NASDAQ:SSBK) Has Affirmed Its Dividend Of $0.09 [Yahoo! Finance]Yahoo! Finance
- Southern States Bancshares, Inc. (NASDAQ:SSBK) Looks Like A Good Stock, And It's Going Ex-Dividend Soon [Yahoo! Finance]Yahoo! Finance
- Southern States Bancshares, Inc. (NASDAQ: SSBK) had its price target lowered by analysts at Hovde Group from $36.00 to $35.00. They now have an "outperform" rating on the stock.MarketBeat
- Southern States Bancshares Non-GAAP EPS of $0.89, revenue of $26M [Seeking Alpha]Seeking Alpha
SSBK
Sec Filings
- 11/14/24 - Form 10-Q
- 11/13/24 - Form 4
- 11/8/24 - Form SC
- SSBK's page on the SEC website