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Mar 31, 2021
SouthState Q1 2021 Earnings Report
SouthState reported solid results in the first quarter of 2021, driven by a focus on asset quality and the release of loss reserves.
Key Takeaways
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.
Reported diluted EPS of $2.06 and adjusted diluted EPS (Non-GAAP) of $2.17.
Recorded a negative provision for credit losses of $58.4 million.
Net interest margin was 3.12%.
Total deposits increased $1.7 billion with core deposit growth totaling $2.0 billion, or 30.3% annualized.
Forward Guidance
This document does not contain any forward guidance. The information provided is a report of the financial results for Q1 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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