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South State reports Q2 adjusted EPS $2.30, consensus $2.03

Reports Q2 net interest margin, non-tax equivalent and tax equivalent, of 4.02%. “Growth accelerated in the second quarter,” said John Corbett, SouthState’s Chief Executive Officer. “Revenue grew 22% annualized and loan originations grew 57% quarter over quarter. Most importantly, we completed the successful conversion of the IBTX franchise and our teams in Texas and Colorado are excited about the future. The strategic moves we’ve made are generating strong returns that enabled us to increase our dividend by 11% and to fund organic growth.”

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