SouthState Q2 2022 Earnings Report

Reported strong performance with record pre-provision net revenue, robust loan growth, and continued strength in asset quality.

Key Takeaways

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.

Reported EPS of $1.57 and adjusted EPS (Non-GAAP) of $1.62.

Net income of $119.2 million and adjusted net income (Non-GAAP) of $123.4 million.

Pre-provision net revenue (PPNR) (Non-GAAP) of $176.8 million, or 1.55% PPNR ROAA (Non-GAAP).

Net interest income of $314.3 million; core net interest income (non-GAAP) increased $47.8 million from prior quarter.