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Sep 30, 2023
Southern States Q3 2023 Earnings Report
Southern States Bancshares, Inc. announced Q3 2023 financial results.
Key Takeaways
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.
Core net income of $9.6 million, or $1.06 per diluted share.
Net income of $6.6 million, or $0.73 per diluted share.
Net interest income of $20.7 million, an increase of $1.3 million from the prior quarter.
Net interest margin (“NIM”) of 3.78%, up 5 basis points from the prior quarter.
Southern States
Southern States
Southern States Revenue by Segment
Revenue by Segment
Service charges on deposit accounts Revenue
CapyFin.comSwap (expenses) fees Revenue
CapyFin.comSBA/USDA fees Revenue
CapyFin.comMortgage origination fees Revenue
CapyFin.comOther operating income Revenue
CapyFin.com Forward Guidance
This press release contains forward-looking statements within the meaning of the federal securities laws, which reflect our current expectations and beliefs with respect to, among other things, future events and our financial performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income