SouthState Corporation ( (SSB) ) has released its Q1 earnings. Here is a breakdown of the information SouthState Corporation presented to its investors.
SouthState Corporation is a financial services company based in Winter Haven, Florida, offering consumer, commercial, mortgage, and wealth management solutions across several states in the U.S.
In its first quarter of 2025, SouthState Corporation reported significant strategic advancements, including the completion of the IBTX acquisition and a securities restructuring, which contributed to a robust financial performance.
Key financial highlights for the quarter include a reported diluted EPS of $0.87 and an adjusted diluted EPS of $2.15. The company achieved a net interest margin of 3.85%, driven by favorable deposit pricing and securities restructuring. Additionally, SouthState reported a net income of $89.1 million, with an adjusted net income of $219.3 million.
The company also demonstrated strong liquidity and capital positions, with deposits increasing by $68 million and a solid loan-to-deposit ratio of 88%. The acquisition of Independent Bank Group, Inc. added $13.1 billion in loans and $15.2 billion in deposits, further strengthening SouthState’s market position.
Looking ahead, SouthState Corporation is well-positioned with industry-leading profitability and strong asset quality, preparing it for potential uncertainties in the financial landscape. The management remains optimistic about sustaining its growth trajectory and delivering value to shareholders.