secwatch.observer — SEC 8-K summary
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Issuer:     Southern States Bancshares, Inc. (—)
CIK:        0001689731
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0001628280-24-017245
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1689731/000162828024017245/0001628280-24-017245-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1689731/000162828024017245/ssbk-20240422.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-017245

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