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Jun 30, 2023
Southern States Q2 2023 Earnings Report
Southern States Bancshares, Inc. reported net income for Q2 2023.
Key Takeaways
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.
Net income was $8.8 million, or $0.98 per diluted share.
Net interest income was $19.4 million, a slight decrease from the prior quarter.
Linked-quarter loan growth was 17.4% annualized.
Linked-quarter total deposit growth was 30.1% annualized.
Forward Guidance
Southern States Bancshares is well-positioned to cultivate new business through superior customer service, giving the company confidence in their ability to deliver long-term value for shareholders.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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