Financial Performance - SouthState reported net income of $144.2 million for Q4 2024, representing a 9% increase in PPNR over Q3 2024, driven by 6% revenue growth[2] - Diluted earnings per share (EPS) for Q4 2024 were $1.87, with adjusted diluted EPS (non-GAAP) of $1.93[4] - Net income for Q4 2024 reached $144.178 million, up from $143.179 million in Q3 2024, representing a 0.7% increase[20] - Adjusted net income for the twelve months ended December 31, 2024, was $553,079 thousand, compared to $524,653 thousand for the same period in 2023, reflecting a growth of 5.8%[22] - Earnings per common share - Basic (GAAP) for the three months ended September 30, 2024, was $1.88, up from $1.74 in the previous quarter[22] Revenue and Income Growth - Total noninterest income for Q4 2024 was $80,545,000, an increase of 7.5% compared to $74,934,000 in Q3 2024 and up from $65,489,000 in Q4 2023[10] - Mortgage banking income for Q4 2024 was $4,777,000, significantly higher than $3,189,000 in Q3 2024, representing a growth of 49.8%[10] - Trust and investment services income increased to $12,414,000 in Q4 2024, compared to $11,578,000 in Q3 2024, a rise of 7.2%[10] - The total correspondent banking and capital markets income for Q4 2024 was $13,555,000, up from $9,893,000 in Q3 2024, reflecting a growth of 37.3%[10] Asset and Liability Management - Total assets increased to $46.38 billion as of December 31, 2024, up from $44.90 billion a year earlier, representing a growth of 3.3%[7] - Total deposits rose to $38.06 billion, an increase of 2.3% from $37.05 billion in the previous year[7] - Loans, net, reached $33.44 billion, reflecting an increase from $31.93 billion year-over-year, marking a growth of 4.7%[7] - Interest-bearing liabilities totaled $28.72 billion, with a total interest expense of $179.03 million, resulting in an overall cost of funds of 1.81%[8] Efficiency and Capital Ratios - The efficiency ratio improved to 56%, with an adjusted efficiency ratio (non-GAAP) of 54%[4] - Return on average common equity was 9.7%, with an adjusted return on average tangible common equity (non-GAAP) of 15.6%[4] - Total risk-based capital ratio stood at 15.0%, indicating a strong capital position[6] - The adjusted efficiency ratio for the twelve months ended December 31, 2024, was 54.42%, indicating operational efficiency improvements[22] Credit Quality and Losses - The allowance for credit losses was $465.28 million, slightly down from $456.57 million a year ago[7] - Nonperforming assets totaled $213,354,000, an increase from $190,960,000 in Q3 2024, reflecting a rise of 11.5%[14] - The allowance for credit losses as a percentage of loans was 1.37% as of December 31, 2024, slightly down from 1.39% in Q3 2024[14] - The net charge-offs as a percentage of average loans (annualized) was 0.06% for Q4 2024, a slight decrease from 0.07% in Q3 2024[14] Merger and Expansion - The company completed the merger with Independent Bank Group on January 1, 2025, enhancing its market presence[3] - The company plans to continue expanding in high-growth markets following the successful merger[2] - Risks related to the merger and integration of SouthState and Independent include potential delays and cost overruns, affecting expected cost savings and revenue synergies[2] Future Outlook and Risks - The company anticipates potential economic volatility risks, including inflation and credit market deterioration, which could impact future performance[2] - The company faces competition risks that may pressure deposit and loan pricing, impacting net interest margins[2] - Regulatory changes may require higher capital levels and could affect the company's financial performance and compliance costs[2] - The company does not undertake any obligation to update forward-looking statements, which are subject to significant risks and uncertainties[3] Dividend and Shareholder Returns - The company declared a quarterly cash dividend of $0.54 per share, payable on February 14, 2025[4] - The dividend payout ratio is calculated by dividing total dividends paid during the period by total net income, reflecting the company's commitment to returning value to shareholders[1] Conference and Communication - The conference call to discuss Q4 results is scheduled for January 24, 2025, at 9:00 a.m. Eastern Time[16]

Core Insights - SouthState Corporation reported a strong finish in 2024 with net income of $144 million and a 9% increase in PPNR over the third quarter, driven by 6% revenue growth [2][5] - The company completed the merger with Independent Bank Group ahead of schedule on January 1, 2025, which is expected to enhance its market position [2][3] Financial Performance - For the fourth quarter of 2024, total interest income was $548.8 million, up from $544.2 million in the previous quarter, while total interest expense decreased to $179 million from $192.7 million [4][5] - Net interest income for the fourth quarter was $369.8 million, with a net interest margin of 3.48% [5][7] - Noninterest income reached $80.5 million, representing a significant increase from $65.5 million in the same quarter of the previous year [8][9] Balance Sheet Highlights - Total assets as of December 31, 2024, were $46.38 billion, an increase from $46.08 billion in the previous quarter [7][12] - Total loans increased to $33.90 billion, with a 4% annualized growth rate, while total deposits rose to $38.06 billion, also reflecting a 4% annualized increase [10][12] - The ending loan-to-deposit ratio was 89% [5] Capital Ratios - The company reported a return on average common equity of 9.7% and a return on average tangible common equity of 15.1% for the fourth quarter [5][6] - Tangible common equity ratio stood at 8.8%, with total risk-based capital at 15.0% [5][6] Dividends - The Board of Directors declared a quarterly cash dividend of $0.54 per share, payable on February 14, 2025 [5]

Core Insights - Analysts forecast SouthState (SSB) will report quarterly earnings of $1.73 per share, reflecting a year-over-year increase of 3.6% and revenues of $435.63 million, up 3.8% from the previous year [1] - There has been a 32.9% upward revision in the consensus EPS estimate over the past 30 days, indicating a collective reassessment by analysts [2] - Earnings estimate revisions are critical for predicting investor behavior and have a strong correlation with short-term stock price performance [3] Financial Metrics - The consensus estimate for 'Net Interest Margin (Non-Tax Equivalent)' is 3.5%, unchanged from the previous year [5] - Analysts expect the 'Efficiency Ratio' to be 56.6%, a significant improvement from 63.4% reported in the same quarter last year [5] - The estimate for 'Total Nonperforming Loans' is $187.14 million, up from $121.77 million in the same quarter last year [5] - 'Average Balance - Total Interest-Earning Assets' is projected to reach $41.60 billion, compared to $40.47 billion reported last year [6] - 'Total Nonperforming Assets' is expected to be $194.01 million, up from $184.12 million in the same quarter last year [6] - 'Net Interest Income' is forecasted at $360.77 million, compared to $354.23 million from the previous year [7] - 'Total Noninterest Income' is anticipated to reach $74.74 million, up from $65.49 million in the same quarter last year [7] - 'Net Interest Income, Tax Equivalent (Non-GAAP)' is projected at $362.31 million, compared to $354.89 million from the previous year [8] Market Performance - SouthState shares have changed by -0.3% in the past month, while the Zacks S&P 500 composite has seen a -2.1% change [8] - With a Zacks Rank 2 (Buy), SSB is expected to outperform the overall market in the near term [8]

Wall Street expects a year-over-year increase in earnings on higher revenues when SouthState (SSB) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on January 23, 2025, might help the stock move higher if these key numbers are better than ex ...

NEW YORK, Dec. 30, 2024 /PRNewswire/ -- Acadia Pharmaceuticals Inc. (NASD: ACAD) will replace Independent Bank Group Inc. (NASD: IBTX) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, January 3, 2025. S&P MidCap 400 constituent SouthState Corp. (NYSE: SSB) is acquiring Independent Bank Group in a deal expected to close soon pending final conditions. Following is a summary of the change that will take place prior to the open of trading on the effective date: Effective Date Ind ...

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SouthState (SSB) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The power of ...

SouthState (SSB) came out with quarterly earnings of $1.90 per share, beating the Zacks Consensus Estimate of $1.67 per share. This compares to earnings of $1.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.77%. A quarter ago, it was expected that this bank holding company would post earnings of $1.53 per share when it actually produced earnings of $1.79, delivering a surprise of 16.99%.Over the last four quarters, the c ...

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WINTER HAVEN, Fla., Oct. 23, 2024 /PRNewswire/ -- SouthState Corporation (NYSE: SSB) today released its unaudited results of operations and other financial information for the three-month and nine-month periods ended September 30, 2024.View PDFSouthState Corporation Reports Third Quarter 2024 Results"Despite the challenges of hurricane season, SouthState produced steady growth in loans, deposits, revenue, and earnings per share.  Furthermore, with the compounding effect of interest rate changes, our tangibl ...