SouthState Earnings Reports

SouthState Corporation reported a strong finish to 2024, with net income of $144 million and a 9% increase in pre-provision net revenue (PPNR) compared to the third quarter, driven by 6% revenue growth. The company also completed the acquisition of Independent Bank Group, Inc. on January 1, 2025.

SouthState Corporation reported a net income of $143.2 million and diluted earnings per share of $1.86 for the third quarter of 2024. The corporation experienced steady growth in loans and deposits and received shareholder support for the acquisition of IBTX.

SouthState Corporation reported a strong second quarter in 2024, with diluted earnings per share of $1.73 and adjusted diluted EPS of $1.79. Net income reached $132.4 million, and the company announced the acquisition of Independent Bank Group, Inc.

SouthState Corporation reported a net income of $115.1 million and diluted earnings per share of $1.50 for the first quarter of 2024. The company saw low-single digit percentage growth in loans and deposits, and asset quality remained stable with strong reserves.

SouthState Corporation reported a net income of $106.8 million and diluted EPS of $1.39 for Q4 2023. The adjusted diluted EPS was $1.67. The company saw loan growth of 7% and an increase in deposits, excluding brokered CDs, and managed to build its reserve. However, noninterest income decreased due to a drop in correspondent banking and capital markets income, and the company recorded a significant FDIC special assessment expense.

SouthState Corporation reported a net income of $124.1 million and diluted earnings per share of $1.62 for the third quarter of 2023. The bank experienced steady growth in loans and customer deposits, with a focus on relationship-based deposit funding.

SouthState Corporation reported a net income of $123.4 million, with diluted earnings per share of $1.62. The company saw annualized loan growth of 11% and deposit growth of 6%, excluding brokered CDs. They also increased the quarterly cash dividend on its common stock from $0.50 to $0.52 per share.

SouthState Corporation reported a strong first quarter in 2023, demonstrating the resilience of its franchise amidst a turbulent macroenvironment. The company saw growth in key areas such as loans, deposits, liquidity, and capital ratios. Earnings per share increased 32% from the same period last year, and the company is positioned to be opportunistic as the economic cycle unfolds.

SouthState Corporation reported strong Q4 2022 results, driven by deposit franchise resilience, loan portfolio growth, and pristine asset quality. Net interest margin expanded, and PPNR per share increased significantly. The company declared a quarterly cash dividend of $0.50 per share.

SouthState Corporation reported very strong performance in Q3 2022, with a record for pre-provision net revenue, robust net interest margin expansion and good expense control. Net loan recoveries were also reported.

SouthState Corporation reported a strong second quarter with a net income of $119.2 million, or $1.57 per diluted common share. Adjusted net income was $123.4 million, or $1.62 per diluted share. The company saw record pre-provision net revenue and robust loan growth.

SouthState Corporation reported a solid first quarter in 2022, with net income of $100.3 million, or $1.39 per diluted common share. Adjusted net income (non-GAAP) totaled $121.9 million, or $1.69 per diluted share. The company closed the Atlantic Capital acquisition on March 1, 2022, which is expected to contribute to future growth.

SouthState Corporation reported a solid fourth quarter, marked by record loan production of $3.1 billion and strong loan growth. Net interest income reached $258.1 million, with core net interest income increasing by $6.4 million from the prior quarter. The company's growth momentum, strong asset quality, and strategic positioning in growing markets contribute to an optimistic outlook.

SouthState Corporation reported a strong third quarter in 2021, with a 10% annualized loan growth excluding PPP loans. New loan production reached a record of $2.6 billion, up 72% from a year ago. The company's pre-provision net revenue increased to $132.3 million due to planned cost savings and an increase in core net interest income.

SouthState Corporation reported a consolidated net income of $1.39 per diluted common share, and an adjusted net income (non-GAAP) of $1.87 per diluted share for the three months ended June 30, 2021. Loan growth was solid, and core net interest income increased for the first time since the start of the pandemic.

SouthState Corporation reported a consolidated net income of $2.06 per diluted common share for the three months ended March 31, 2021. Adjusted net income (non-GAAP) totaled $2.17 per diluted share for the same period. The company's longstanding focus on asset quality and improvement in the economy led to release of loss reserves in the quarter.

SouthState Corporation released its Q4 2020 results, reporting a net income of $1.21 per diluted common share and an adjusted net income (non-GAAP) of $1.44 per diluted share. The quarter was marked by swap termination and merger-related expenses, offset by a tax benefit related to the CARES Act. The company closed the year with solid credit quality metrics and looks forward to 2021.

South State Corporation reported a strong third quarter, marked by record revenue and a return to profitability after the merger with CenterState Bank Corporation. The company's net income increased significantly, driven by higher net interest income and noninterest income. Asset quality remained solid, and capital ratios were strong.

South State Corporation reported a consolidated net loss of ($84.9) million, or ($1.96) per diluted common share, for the second quarter of 2020. The net loss was primarily due to the initial provision for credit losses on acquired non-purchase credit deteriorated (NonPCD) loans and merger-related costs. However, the company highlighted strong underlying operating performance, including record revenues on a combined historical basis.

South State Corporation reported a decrease in net income for the three months ended March 31, 2020, compared to the previous quarter, primarily due to an increase in the provision for credit losses related to the COVID-19 pandemic. However, the company produced record revenues and strengthened its balance sheet with increased liquidity and additional allowance for loan losses.

South State Corporation reported a net income of $1.45 per diluted common share for Q4 2019, compared to $1.35 per diluted common share for Q4 2018. The company's total assets were $15.9 billion, an increase of $1.2 billion from December 31, 2018.