NASDAQ$SSBK
Southern States Bancshares · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Southern States' financial performance for Q3 2024 was announced, highlighted by net income, core net income, and net interest income increases.
Southern States Bancshares, Inc. reported a net income of $7.4 million, or $0.76 per diluted share, for the third quarter of 2024. The company's net interest income increased by 12.4% to $24.2 million, and net interest margin rose by 9 basis points to 3.65%. The completion of the CBB Bancorp acquisition on August 1 contributed to these results.
- Net income was $7.4 million, or $0.76 per diluted share.
- Core net income reached $8.7 million, or $0.89 per diluted share.
- Net interest income increased by $2.7 million from the prior quarter, totaling $24.2 million.
- Net interest margin increased by 9 basis points from the prior quarter, reaching 3.65%.
Headline financials
Revenue & EPS history
Southern States · Revenue · Quarterly
$26M
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 · overlaid with Q3 2024
+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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