NASDAQ$SSBK
Southern States Bancshares · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Southern States Bancshares reported solid earnings, driven by loan and deposit growth, but impacted by funding expense pressure.
Southern States Bancshares, Inc. reported a net income of $8.9 million, or $0.99 diluted earnings per share, for Q4 2023. The results were highlighted by annualized sequential loan growth of 24.7% and annualized deposit growth of 21.1%. However, the net interest margin decreased by 9 basis points from the prior quarter due to rising interest rates and increased deposit costs.
- Net income was $8.9 million, or $0.99 per diluted share.
- Core net income was $7.3 million, or $0.81 per diluted share.
- Net interest income was $20.4 million, a decrease of $327,000 from the prior quarter.
- Net interest margin was 3.69%, down 9 basis points from the prior quarter.
Headline financials
Revenue & EPS history
Southern States · Revenue · Quarterly
$23.5M
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 enters the new year with strong capital and liquidity positions, as well as pristine credit quality, putting them in an excellent position to pursue prudent growth in 2024.
Tailwinds
- Strong capital position
- Strong liquidity position
- Pristine credit quality
- Positioned for prudent growth in 2024
- Active bankers cultivating new business relationships
Headwinds
- Ongoing funding expense pressure
- Elevated interest rates
- Increased deposit costs
- Net interest margin declined nine basis points from the prior quarter
- Rising rates and growth
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 | — | — | — |
Discussion
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