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Mar 31, 2024
SouthState Q1 2024 Earnings Report
SouthState's first quarter revenue and earnings per share aligned with guidance, with loan and deposit growth and stable asset quality.
Key Takeaways
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.
Diluted EPS was reported at $1.50, with adjusted diluted EPS (Non-GAAP) at $1.58.
Net income reached $115.1 million, with adjusted net income (Non-GAAP) at $121.3 million.
Loans increased by $279 million, or 3% annualized, driven by consumer real estate.
Deposits increased by $130 million, or 1% annualized.
SouthState
SouthState
Forward Guidance
No specific forward guidance was provided in the document.