Financial Data and Key Metrics Changes - The company reported its fourth quarter 2024 earnings, with specific financial highlights to be discussed in detail during the call [3][5]. - Forward-looking statements regarding financial performance and risks were emphasized, indicating a cautious outlook [4]. Business Line Data and Key Metrics Changes - Specific details regarding the performance of various business lines were not provided in the initial remarks but are expected to be covered in the subsequent discussion [3][5]. Market Data and Key Metrics Changes - Market performance metrics and regional data were not explicitly mentioned in the opening statements, indicating that further details may be provided later in the call [3][5]. Company Strategy and Development Direction - The company is expected to outline its strategic initiatives and competitive positioning within the industry during the call [3][5]. Management's Comments on Operating Environment and Future Outlook - Management is likely to provide insights into the current operating environment and future outlook, which will be crucial for understanding potential growth and challenges [3][5]. Other Important Information - The call is being recorded, and participants are reminded of the forward-looking statements and associated risks [2][4]. Q&A Session Summary Question: What are the key highlights from the fourth quarter? - Specific highlights from the fourth quarter will be addressed in the Q&A session, with management expected to provide detailed responses [3][5].

All forward-looking statements speak only as of the date they are made and are based on information available at that time. SouthState does not undertake any obligation to update or otherwise revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. SOUTHSTATE ...

Core Insights - SouthState (SSB) reported revenue of $450.32 million for the quarter ended December 2024, reflecting a year-over-year increase of 7.3% [1] - Earnings per share (EPS) for the quarter was $1.93, up from $1.67 in the same quarter last year, indicating a positive growth trend [1] - The reported revenue exceeded the Zacks Consensus Estimate of $435.63 million by 3.37%, while the EPS also surpassed the consensus estimate of $1.73 by 11.56% [1] Financial Metrics - Net Interest Margin (Non-Tax Equivalent) was reported at 3.5%, matching the average estimate from analysts [4] - The Efficiency Ratio stood at 55.7%, better than the average estimate of 56.6% [4] - Total Nonperforming Assets were $213.35 million, higher than the average estimate of $194.01 million [4] - Average Balance of Total Interest-Earning Assets was $42.30 billion, exceeding the average estimate of $41.60 billion [4] - Net charge-offs as a percentage of average loans (annualized) were 0.1%, lower than the estimated 0.2% [4] - Net Interest Income was reported at $369.78 million, above the average estimate of $360.77 million [4] - Total Noninterest Income reached $80.55 million, surpassing the average estimate of $74.74 million [4] - Net Interest Income, tax equivalent (Non-GAAP), was $370.33 million, compared to the average estimate of $362.31 million [4] Stock Performance - SouthState's shares have returned -1.7% over the past month, contrasting with the Zacks S&P 500 composite's increase of 2.7% [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [3]

Core Viewpoint - SouthState (SSB) reported quarterly earnings of $1.93 per share, exceeding the Zacks Consensus Estimate of $1.73 per share, and showing an increase from $1.67 per share a year ago, indicating a positive earnings surprise of 11.56% [1] Financial Performance - The company achieved revenues of $450.32 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.37% and up from $419.72 million year-over-year [2] - Over the last four quarters, SouthState has consistently surpassed consensus EPS estimates and topped revenue estimates twice [2] Stock Performance and Outlook - SouthState shares have remained flat since the beginning of the year, contrasting with the S&P 500's gain of 3.5% [3] - The company's earnings outlook is crucial for assessing future stock performance, with current consensus EPS estimates at $1.52 for the upcoming quarter and $7.78 for the current fiscal year [4][7] Industry Context - The Financial - Miscellaneous Services industry, to which SouthState belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

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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