“The first quarter was a strategic reset that took SouthState’s earnings profile from good to great”, commented John Corbett, SouthState’s Chief Executive Officer. “We closed the IBTX acquisition in January and then closed the sale leaseback transaction and securities restructure in March. The securities restructuring and better than expected deposit pricing pushed our net interest margin to 3.85%. SouthState is now positioned with industry-leading profitability and strong liquidity, capital and asset quality for the uncertainties that lie ahead.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SSB:
- SouthState Corporation (SSB) Q1 Earnings Cheat Sheet
- South State price target lowered to $115 from $120 at Barclays
- SouthState Corporation to Announce Q1 2025 Earnings
- South State added to Analyst Current Favorites list at Raymond James
- South State upgraded to Strong Buy from Outperform at Raymond James