South State (US:SSB) ZACKS·2025-07-24 22:01Core Insights - SouthState (SSB) reported a revenue of $664.77 million for the quarter ended June 2025, marking a 56.2% increase year-over-year and exceeding the Zacks Consensus Estimate by 3.96% [1] - The earnings per share (EPS) for the quarter was $2.30, up from $1.79 in the same quarter last year, representing a 15% surprise over the consensus EPS estimate of $2.00 [1] Financial Performance Metrics - Net charge-offs as a percentage of average loans were 0.2%, higher than the average estimate of 0.1% [4] - The efficiency ratio stood at 52.8%, better than the average estimate of 55.6% [4] - Net interest margin (non-tax equivalent) was reported at 4%, exceeding the average estimate of 3.8% [4] - Average balance of total interest-earning assets was $57.71 billion, slightly below the average estimate of $57.91 billion [4] - Total nonperforming assets amounted to $323.84 million, higher than the average estimate of $277.62 million [4] - Net interest income (tax equivalent, non-GAAP) was $578.62 million, surpassing the average estimate of $552.04 million [4] - Total noninterest income was $86.82 million, slightly below the average estimate of $87.97 million [4] - Net interest income was reported at $577.95 million, compared to the average estimate of $551.17 million [4] - Mortgage banking income was $5.94 million, lower than the average estimate of $8.56 million [4] - Fees on deposit accounts reached $37.87 million, exceeding the average estimate of $36.44 million [4] - Trust and investment services income was $14.42 million, slightly above the average estimate of $14 million [4] - Total correspondent banking and capital market income was $13.77 million, higher than the average estimate of $10.99 million [4] Stock Performance - SouthState shares have returned +9.4% over the past month, outperforming the Zacks S&P 500 composite's +5.7% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]