Southern States Earnings Reports

Southern States Bancshares, Inc. announced net income of $10.4 million, or $1.03 diluted earnings per share, for the first quarter of 2025. This represents a significant increase from $8.1 million, or $0.90 diluted earnings per share, in the first quarter of 2024. The company's net interest margin improved to 3.75%, and loans and deposits saw annualized growth.

Southern States Bancshares, Inc. reported a net income of $11.2 million, or $1.11 diluted earnings per share, for the fourth quarter of 2024. The company's performance was driven by consistent growth and a healthy net interest margin of 3.66%, coupled with an efficiency ratio of 46.67%.

Southern States Bancshares, Inc. reported a net income of $7.4 million, or $0.76 per diluted share, for the third quarter of 2024. The company's net interest income increased by 12.4% to $24.2 million, and net interest margin rose by 9 basis points to 3.65%. The completion of the CBB Bancorp acquisition on August 1 contributed to these results.

Southern States Bancshares reported a net income of $8.2 million, or $0.90 per diluted share, for the second quarter of 2024. The company saw growth in net interest income, loans, and deposits, alongside effective expense management. The acquisition of CBB Bancorp is expected to further strengthen the platform and drive future growth.

Southern States Bancshares, Inc. reported a net income of $8.1 million, or $0.90 per diluted share, for the first quarter of 2024, compared to $7.7 million, or $0.85 per diluted share, for the first quarter of 2023. Net interest income increased by 2.1% from the previous quarter, and total loans grew by 17.2% annualized.

Southern States Bancshares, Inc. reported a net income of $8.9 million, or $0.99 diluted earnings per share, for Q4 2023. The results were highlighted by annualized sequential loan growth of 24.7% and annualized deposit growth of 21.1%. However, the net interest margin decreased by 9 basis points from the prior quarter due to rising interest rates and increased deposit costs.

Southern States Bancshares, Inc. reported a net income of $6.6 million, or $0.73 diluted earnings per share, for the third quarter of 2023. The company's core net income was $9.6 million, or $1.06 diluted core earnings per share, for the same period. Loan growth was strong, and net interest margin expanded by 5 basis points.

Southern States Bancshares, Inc. reported a strong second quarter in 2023, with net income of $8.8 million, or $0.98 per diluted share. The company experienced growth in total loans and deposits, while maintaining excellent credit quality. However, the net interest margin decreased due to rising funding costs.

Southern States Bancshares, Inc. reported a net income of $7.7 million, or $0.85 per diluted share, for the first quarter of 2023. The company experienced growth in both loans and deposits, and improved upon capital levels despite volatility in the banking industry.

Southern States Bancshares, Inc. reported a net income of $10.6 million, or $1.18 per diluted share, for the fourth quarter of 2022. Net interest income increased to $20.9 million, and the net interest margin was 4.38%. The company completed the sale of two branches, resulting in a $2.4 million net gain.

Southern States Bancshares, Inc. reported a net income of $6.7 million, or $0.75 per diluted share for Q3 2022, compared to a net income of $5.2 million for the previous quarter. The increase was fueled by robust annualized loan growth and an increase in net interest income.

Southern States Bancshares, Inc. reported a strong second quarter in 2022, with net income increasing to $5.2 million, or $0.59 per diluted share. The company experienced significant loan growth, an improved net interest margin, and maintained solid asset quality.

Southern States Bancshares, Inc. reported a net income of $4.6 million, or $0.50 per diluted share, for the first quarter of 2022. Linked-quarter loan growth was 19.4% annualized. The company completed a $48.0 million subordinated debt offering and implemented a stock repurchase program.