South State reports Q3 adjusted EPS $2.58, consensus $2.20

Reports Q3 revenue $699M, consensus $660.3M. Q3 Non-GAAP net interest margin was 4.05% from 4.06% in the previous quarter. Tangible book value per common share was $54.48 from $51.96 in the previous quarter. “SouthState delivered a strong third quarter. Growth in top line revenue and bottom-line income led to a 30% year-over-year increase in earnings per share,” said CEO John Corbett. “The successful integration of Independent Financial, fee income growth in capital markets, and steady balance sheet growth resulted in a return on tangible equity of 20%.”