NASDAQ$SSBK
Southern States Bancshares · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Reported net income of $5.2 million, driven by loan growth and net interest margin increase.
Southern States Bancshares, Inc. reported a strong second quarter in 2022, with net income increasing to $5.2 million, or $0.59 per diluted share. The company experienced significant loan growth, an improved net interest margin, and maintained solid asset quality.
- Linked-quarter loan growth was 36.8% annualized.
- Net interest margin increased by 31 basis points from the prior quarter to 3.84%.
- Nonperforming loans remained low at 0.25% of total loans.
- Total deposits increased to $1.6 billion.
Headline financials
Revenue & EPS history
Southern States · Revenue · Quarterly
$17.8M
Revenue by segment
Southern States · $2.22M total across 5 segments · Q3 2023
- Other operating income$1.09M—49.2%
- Swap (expenses) fees$453K—20.4%
- Service charges on deposit accounts$442K—19.9%
- Mortgage origination fees$158K—7.1%
- SBA/USDA fees$74K—3.3%
Forward guidance
Southern States is confident in ongoing growth in the second half of 2022.
Tailwinds
- Strong loan production driven by dedicated lending teams.
- Investments in talent to capitalize on a robust deposit base.
- Steady demand across an economically dynamic footprint.
- Disciplined expense control.
- Prudent underwriting practices.
Headwinds
- Forward-looking statements are subject to risks, assumptions, and uncertainties that are difficult to predict.
- The current COVID-19 pandemic and uncertainty about its continuation.
- Changes in the value of the available for sale securities portfolio due to rapid increases in interest rates.
- Reductions in swap fees, mortgage income and SBA income, which are reflective of the market conditions and timing.
- Higher salaries and employee benefits expense as production personnel were added in the Georgia market, plus higher insurance and professional fees as a result of going public
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 5 quarterly earnings reports
+1.7%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+4.8%
Avg return
30 days after
75%
15 / 20 earnings
Positive
+10.0%
Q2 2024
Best reaction
-4.0%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2025 | +3.0% | +1.8% | +1.9% | |
| Q4 2025 | -1.6% | -4.0% | -4.7% | |
| Q3 2024 | -0.7% | -0.7% | +15.0% | |
| Q2 2024 | +10.0% | +12.3% | +0.1% | |
| Q1 2024 | +2.3% | +1.7% | +11.7% | |
| Q4 2023 | -0.2% | — | — | |
| Q3 2023 | +1.4% | — | — | |
| Q2 2023 | +7.3% | — | — | |
| Q1 2023 | -4.0% | — | — | |
| Q4 2022 | +0.9% | — | — | |
| Q3 2022 | +2.3% | — | — | |
| Q2 2022 | -0.5% | — | — | |
| Q1 2021 | +3.6% | — | — | |
| Q1 2022 | +0.2% | — | — | |
| Q4 2020 | +2.1% | — | — | |
| Q4 2021 | +0.6% | — | — | |
| Q3 2020 | +0.5% | — | — | |
| Q3 2021 | +2.0% | — | — | |
| Q2 2020 | +1.8% | — | — | |
| Q2 2021 | +1.8% | — | — | |
| Q1 2020 | — | — | — |
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