Southern States Bancshares Q1 net income $8.1M, EPS $0.90; loan growth 17.2% annualized

Southern States Bancshares, Inc.

2024-Q1 EPS reported $0.90 revenue$463,000

Net income $8.1M ($0.90 diluted EPS); core net income also $8.1M ($0.90).
Net interest income $20.8M, up $435K QoQ; NIM 3.59%, down 10 bps from prior quarter.
Linked-quarter loan growth 17.2% annualized; total deposit growth 18.3% annualized (ex-brokered 7.1%).
ROAA 1.33%, ROAE 14.87%, ROATCE 16.17%; efficiency ratio 46.90%.
Core ROAA 1.34%, core ROATCE 16.19%.

item 7.01 item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Southern States Bancshares, Inc. reported First Quarter 2024 results: net income $8.1 million, EPS $0.90 per diluted share.

Period: First Quarter 2024
Net income: $8.1 million
EPS: $0.90 per diluted share
Result: reported results

Exact text from the filing

Southern States Bancshares, Inc. Announces First Quarter 2024 Financial Results

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Source: SEC EDGAR

accession 0001628280-24-017245

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