NYSE$SSB
SouthState Bank Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
SouthState reported a strong Q2 2023, marked by deposit growth and loan expansion, demonstrating resilience and preparedness for the next economic phase.
SouthState Corporation reported a net income of $123.4 million, with diluted earnings per share of $1.62. The company saw annualized loan growth of 11% and deposit growth of 6%, excluding brokered CDs. They also increased the quarterly cash dividend on its common stock from $0.50 to $0.52 per share.
- Diluted Earnings per Share (EPS) reached $1.62, with an adjusted EPS of $1.63.
- Net Interest Income amounted to $362 million, while Noninterest Income totaled $77 million.
- Loans increased by $841 million, reflecting an 11% annualized growth rate.
- Deposits grew by $340 million, representing a 4% annualized increase.
Headline financials
Revenue & EPS history
SouthState · Revenue · Quarterly
$439M
Revenue by segment
SouthState · $77.2M total across 6 segments · Q2 2023
- Deposit Account Fees$33.1M—42.9%
- Capital Markets$19.2M—24.8%
- Trust & Investment$9.82M—12.7%
- BOLI Income$6.27M—8.1%
- Other Income$4.48M—5.8%
- Mortgage Banking$4.35M—5.6%
Forward guidance
The document does not contain specific forward guidance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.1%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+1.0%
Avg return
30 days after
53%
35 / 66 earnings
Positive
+6.1%
Q3 2020
Best reaction
-9.4%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.2% | -1.6% | -3.6% | |
| Q4 2025 | -0.4% | +0.4% | +4.9% | |
| Q3 2025 | -4.0% | -4.4% | -6.2% | |
| Q2 2025 | -2.2% | -1.0% | +3.8% | |
| Q1 2025 | -2.7% | -3.3% | -2.4% | |
| Q4 2024 | +5.2% | +8.1% | +0.7% | |
| Q3 2024 | +0.9% | +1.3% | +12.1% | |
| Q2 2024 | +4.3% | +5.9% | +3.6% | |
| Q1 2024 | -2.7% | -5.5% | -3.7% | |
| Q4 2023 | +2.4% | +4.9% | +0.1% | |
| Q3 2023 | +1.9% | +2.5% | +14.2% | |
| Q2 2023 | -0.7% | -1.1% | -10.6% | |
| Q1 2023 | +4.9% | -2.0% | -1.1% | |
| Q4 2022 | +0.8% | +4.1% | +6.5% | |
| Q3 2022 | +3.8% | +5.5% | +2.6% | |
| Q2 2022 | +1.8% | -2.1% | -3.2% | |
| Q1 2022 | +1.8% | +2.7% | +6.5% | |
| Q4 2021 | +2.2% | -0.6% | +6.2% | |
| Q3 2021 | -0.5% | +6.7% | +0.6% | |
| Q2 2021 | -3.0% | -3.2% | -6.4% | |
| Q1 2021 | +0.7% | +1.0% | +5.8% | |
| Q4 2020 | -5.7% | -9.0% | +1.6% | |
| Q3 2020 | +6.1% | +11.6% | +21.8% | |
| Q2 2020 | -2.6% | +1.3% | +16.8% | |
| Q1 2020 | +3.8% | +11.1% | -8.7% | |
| Q4 2019 | -9.4% | -11.6% | -13.5% | |
| Q3 2019 | +2.8% | +3.3% | +6.7% | |
| Q2 2019 | +1.3% | -2.3% | -5.8% | |
| Q1 2019 | +1.5% | +2.3% | -6.5% | |
| Q4 2018 | +1.5% | +2.2% | +8.8% | |
| Q3 2018 | -7.7% | -15.0% | -8.4% | |
| Q2 2018 | -4.2% | -5.0% | -5.4% | |
| Q1 2018 | -2.0% | -0.2% | +1.9% | |
| Q4 2017 | -1.5% | -1.6% | -3.0% | |
| Q3 2017 | +1.0% | +1.9% | -2.8% | |
| Q2 2017 | -0.4% | -0.6% | -4.5% | |
| Q1 2017 | +1.1% | +2.2% | -7.4% | |
| Q4 2016 | -1.5% | -4.5% | -1.5% | |
| Q3 2016 | -1.4% | -1.0% | +15.8% | |
| Q2 2016 | +5.6% | +6.5% | +4.7% | |
| Q1 2016 | +0.3% | — | — | |
| Q4 2015 | +0.8% | — | — | |
| Q3 2015 | +4.2% | — | — | |
| Q2 2015 | -1.5% | — | — | |
| Q1 2015 | -3.4% | — | — | |
| Q4 2014 | -5.8% | — | — | |
| Q3 2014 | +1.9% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q1 2014 | +4.9% | — | — | |
| Q4 2013 | -2.9% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q2 2013 | -2.8% | — | — | |
| Q1 2013 | -3.0% | — | — | |
| Q4 2012 | +2.3% | — | — | |
| Q3 2012 | -1.5% | — | — | |
| Q2 2012 | +3.7% | — | — | |
| Q1 2011 | -1.4% | — | — | |
| Q1 2012 | +2.4% | — | — | |
| Q4 2009 | +1.6% | — | — | |
| Q4 2010 | +1.6% | — | — | |
| Q4 2011 | +1.6% | — | — | |
| Q3 2011 | -3.5% | — | — | |
| Q3 2010 | -3.5% | — | — | |
| Q2 2010 | -3.4% | — | — | |
| Q2 2011 | -3.4% | — | — | |
| Q1 2010 | +4.8% | — | — |
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