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Sep 30, 2023
SouthState Q3 2023 Earnings Report
SouthState reported steady mid-single digit growth in loans and customer deposits, despite economic challenges.
Key Takeaways
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.
Reported diluted EPS of $1.62 and adjusted diluted EPS (Non-GAAP) of $1.62.
Net income reached $124.1 million, with an adjusted net income (Non-GAAP) of $124.3 million.
Loans increased by $480 million, or 6% annualized, driven by consumer real estate and investor commercial real estate.
Deposits increased by $193 million, or 2% annualized, despite a decline in brokered CDs.
Revenue by Segment
Forward Guidance
This document does not contain any forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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