SouthState Corporation Announces Fourth Quarter 2024 Financial Results

SouthState Corporation (NASDAQ: SSB) recently disclosed its financial outcomes for the final quarter of 2024. The company reported a Net Income of $144.2 million alongside an Earnings Per Share (EPS) of $1.87 for the period. Additionally, the Return on Average Assets stood at 1.23%.

Loan and deposit figures showcased growth during the quarter, with loans increasing by $355 million and deposits rising by $423 million on an annualized basis. The net interest margin, excluding tax-equivalent and tax-equivalent, reached 3.48%, indicating an increase from the prior quarter. Total loan yield settled at 5.76%, with total deposit costs at 1.75%.

Moreover, the company’s Board declared a quarterly cash dividend of $0.54 per share for shareholders of record as of February 7, 2025, with payments scheduled on February 14, 2025.

SouthState will be conducting a conference call on January 24, 2025, at 9 a.m. (ET) to review the financial outcomes for the fourth quarter of 2024. Interested investors can participate by dialing (888) 350-3899 within the U.S. or (646) 960-0343 for international participants, with passcode 4200408 and the presence of Will Matthews, the CFO, as the host.

The company also shared its forward-looking statements, expressing the potential risks and uncertainties that may impact future financial results. SouthState highlighted diverse factors such as economic volatility risk, strategic plan execution risks, and the impact of mergers on financial performance in its projections.

SouthState warned that actual results could vary from anticipated outcomes due to several volatile elements. The corporation emphasized that all forward-looking statements are time-sensitive and based on available information.

Through sound financial practices, SouthState aims to navigate potential risks and challenges within its industry as it progresses into the future.

For in-depth Information, readers can access the complete 8-K filing on the Securities and Exchange Commission’s website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read SouthState’s 8K filing here.

About SouthState

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It offers checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits, as well as bond accounting, asset/liability consulting related activities, and other clearing and corporate checking account services.