South State (SSB) ZACKS·2025-01-24 01:00Core 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]