SouthState Corporation ( (SSB) ) has released its Q4 earnings. Here is a breakdown of the information SouthState Corporation presented to its investors.
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SouthState Corporation is a financial services company headquartered in Winter Haven, Florida, providing consumer, commercial, mortgage, and wealth management solutions across several U.S. states. The company recently released its fourth-quarter 2024 earnings report, marking a successful end to the year with strong growth in loans and deposits, and an increase in net interest margin and fees. Key financial highlights include a net income of $144 million, a 9% increase in pre-provision net revenue, and a 6% growth in revenue compared to the previous quarter. SouthState also reported a diluted earnings per share of $1.87 and highlighted the successful completion of its merger with Independent Bank Group, Inc., which is expected to bolster its presence in fast-growing markets. Looking ahead, the management is optimistic about continuing to build a high-quality bank with significant scale in rapidly expanding regions, leveraging its recent acquisition to maintain momentum into 2025.
