Volta Finance Limited (VTA / VTAS)August 2025 monthly reportNOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR PART, IN OR INTO THE UNITED STATES Guernsey, September 24th 2025 AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for August 2025. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com). Performance and Portfolio Activity Dear Investors, In August, Volta Finance achieved a ...

Core Viewpoint - SouthState Corporation (SSB) has shown strong performance with an 11.6% increase in shares over the past three months, outperforming the industry growth of 6.8% and its peers [1][8] Financial Performance - The Federal Reserve's recent interest rate cuts are expected to ease funding pressures and stabilize deposit costs, benefiting banks like SouthState [4] - SouthState's net interest income (NII) has achieved a five-year compound annual growth rate (CAGR) of 22.9% through 2024, with continued improvement in the first half of 2025 [5] - The net interest margin (NIM) improved in the first half of 2025 due to balance sheet optimization, despite a decline in 2024 from elevated funding costs [5][6] - Revenue growth is projected to continue, with estimates suggesting a year-over-year increase of 51.93% for 2025 and 4.76% for 2026 [9][10] Growth Strategies - SouthState has expanded its market presence through acquisitions, including the significant acquisition of Independent Bank in January 2025, which increased total assets to $65.1 billion [10][11] - The company has maintained strong organic growth, with a revenue CAGR of 21.5% over the past five years, continuing into the first half of 2025 [6][7] Liquidity and Shareholder Returns - SouthState has a solid liquidity position, with total debt of $1.2 billion against cash and cash equivalents of $3.5 billion as of June 30, 2025 [12] - The company has consistently raised dividends since 2020, with a recent hike of 11.1% in July 2025, resulting in a payout ratio of 26% and a five-year annualized dividend growth of 3.30% [13][16] Risks and Concerns - Elevated non-interest expenses have shown a CAGR of 16.6% from 2019 to 2024, driven by various operational costs [18] - The loan portfolio is heavily concentrated in real estate, with 72.9% of loans having real estate as collateral, increasing exposure to commercial real estate risks [20][21] Valuation - SouthState's trailing price-to-book (P/B) ratio of 1.15X is below the industry average of 1.88X, indicating that shares are trading at a discount compared to peers [23]

Image source: The Motley Fool. Friday, July 25, 2025 at 3:00 p.m. ET Call participants President & Chief Executive Officer — John R. Buran Senior Executive Vice President & Chief Financial Officer — Susan K. Cullen Need a quote from a Motley Fool analyst? Email [email protected] Takeaways GAAP EPS-- $0.41 (GAAP, Q2 2025), an increase of 12,878% from Q2 2024, driven by fair value adjustments on debt and the reversal of a valuation allowance following the reclassification of loans held for sale to loans held ...

Financial Data and Key Metrics Changes - The company reported net interest income of $123.5 million, which is $21 million higher than the first quarter of 2024 and slightly higher than the fourth quarter of 2024 [3] - Tangible book value increased by 3% since last quarter and 13% year-over-year, ending at $30.31 per share [2] - The common equity Tier 1 capital ratio stood at 11.4% and the risk-based capital ratio at 12.9% for the quarter [2] - The provision expense was $6.6 million, up $2.1 million from the first quarter of 2024 and $900,000 from the fourth quarter [6] - The allowance for credit losses ended the quarter at just over $165 million, an increase of about $576,000 from the fourth quarter [7] Business Line Data and Key Metrics Changes - Non-interest income decreased by about 7% compared to the first quarter of 2024, primarily due to a one-time benefit recorded in 2024, but normalized rates showed a 7% increase driven by higher service charges on deposit accounts [8] - Non-interest expense was down $789,000 compared to the fourth quarter of 2024 and flat compared to the first quarter of 2024, reflecting expense discipline despite a 5% growth in employee numbers [10] Market Data and Key Metrics Changes - The loan-to-deposit ratio stands at 89%, with an adjusted ratio of 77% when including correspondent Fed funds purchased [1] - The company anticipates over $1.9 billion in asset repricing over the next 12 months [6] Company Strategy and Development Direction - The company is focused on organic loan and deposit growth, priced competitively and profitably, with expectations of loan growth in low double digits [12][36] - There is an ongoing evaluation of new producers and potential hires to support expansion efforts [45] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the durability of Main Street compared to Wall Street, indicating a mixed impact from current market uncertainties [26] - The company does not foresee significant impacts from tariffs and remains optimistic about the balance of the year [28][32] Other Important Information - The company experienced a significant increase in Fed balances, averaging $380 million, which aids liquidity but negatively impacts margin calculations [2][4] - The company is looking for additional avenues to improve income without increasing risk, given the excess liquidity [61] Q&A Session Summary Question: How does the company view deposit trends for the rest of the year? - Management indicated that municipal deposits may decline as the year progresses, with correspondent balances leveling off after tax season [21][22] Question: What is the outlook for loan growth and demand post-pandemic? - Management noted a potential slowdown but remains optimistic about steady, granular growth across various markets [26][38] Question: What is the current loan pricing dynamic? - Loan pricing has remained steady, but management expressed dissatisfaction with current pricing levels, indicating they should be higher [43] Question: What is the expected range for non-interest expenses for the remainder of the year? - Non-interest expenses are expected to be in the range of $46 to $46.5 million, excluding potential new hires [45] Question: Can you provide details on non-performing loans? - Non-performing loans are primarily in the medical sector, including a hospital and a doctor with cash flow issues but good collateral [48][52]