NASDAQ$SSBK
Southern States Bancshares · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Southern States Bancshares, Inc. announced Q3 2023 financial results.
Southern States Bancshares, Inc. reported a net income of $6.6 million, or $0.73 diluted earnings per share, for the third quarter of 2023. The company's core net income was $9.6 million, or $1.06 diluted core earnings per share, for the same period. Loan growth was strong, and net interest margin expanded by 5 basis points.
- Core net income of $9.6 million, or $1.06 per diluted share.
- Net income of $6.6 million, or $0.73 per diluted share.
- Net interest income of $20.7 million, an increase of $1.3 million from the prior quarter.
- Net interest margin (“NIM”) of 3.78%, up 5 basis points from the prior quarter.
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
This press release contains forward-looking statements within the meaning of the federal securities laws, which reflect our current expectations and beliefs with respect to, among other things, future events and our financial performance.
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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