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Southern States Bancshares ( (SSBK) ) has issued an update.
In the fourth quarter of 2024, Southern States Bancshares, Inc. reported a record net income of $11.2 million, marking a significant increase from both the previous quarter and the same period in 2023. The company attributes its strong financial performance to effective management of net interest margins and operational efficiencies, as well as strategic growth through the acquisition of Century Bank, which bolstered its presence in the Atlanta metro market. This expansion is expected to support sustainable growth and enhance shareholder returns as the company maintains a focus on credit quality and capital strength.
More about Southern States Bancshares
Southern States Bancshares, Inc. is the holding company for Southern States Bank, an Alabama state-chartered commercial bank. The company operates primarily in Alabama and Georgia, with a focus on community banking services through 15 full-service branches and two loan production offices.
YTD Price Performance: 6.32%
Average Trading Volume: 21,855
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $342.3M
For a thorough assessment of SSBK stock, go to TipRanks’ Stock Analysis page.