Welcome to our dedicated page for SouthState Bank news (Ticker: SSB), a resource for investors and traders seeking the latest updates and insights on SouthState Bank stock.
SouthState Bank Corporation reports recurring developments tied to its regional banking franchise, quarterly operating results and capital actions. Through SouthState Bank, N.A., the company provides consumer, commercial, mortgage and wealth management solutions across Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, Virginia and Tennessee, and serves clients nationwide through correspondent banking.
Company news commonly covers loan and deposit trends, net interest and fee income, asset quality, capital ratios, dividends and stock repurchase authorizations. Updates also include completed acquisition integration, expansion of commercial, middle market, mortgage and wealth teams, corporate stewardship reporting, technology initiatives and board governance changes.
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SouthState Bank announced leadership changes on April 25, 2023, promoting key bankers to significant positions. Chris Kamienski is now head of Consumer and Small Business Banking, bringing extensive experience since 2016, previously serving as North Florida president. Jordan Hallam is appointed director of Government Guaranteed Lending, following Mark Bryant's upcoming retirement. Hallam has been with SouthState for over 11 years with expertise in SBA lending. Mark C. Smith is now director of the Premier Private Client Group, having joined in 2022 as Premier Private Banking Team Leader for Alabama. The bank also welcomed new hires in various roles across Florida and South Carolina, including Commercial Relationship Managers and Banking Consultants, aimed at enhancing service delivery and client relationships.
SouthState Corporation (NASDAQ: SSB) will release its first quarter 2023 earnings results on April 27, 2023, after market close. Investors can access the earnings report on the company's website under the Investor Relations section. A conference call to discuss the results is scheduled for April 28, 2023, at 9:00 a.m. ET. Participants can join by dialing (833) 470-1428 or by listening to a live webcast available on SouthState's website. An audio replay will be accessible later that day.
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SouthState Bank has expanded its team by hiring five experienced bankers to enhance its Commercial and Wealth teams across Georgia, Virginia, and Alabama. This strategic move is expected to elevate SouthState's customer service and strengthen client relationships. The new hires include Ryan Berry, Rob Hertenstein, Lorrian Heard, Rob Hallett, and David Perry, each bringing significant experience from leading financial institutions. Their diverse expertise will contribute to the growth of Investment Services and expand SouthState's presence in small business banking. This addition aims to optimize client portfolios and foster customer growth.
SouthState Corporation (NASDAQ: SSB) reported robust financial results for Q4 and the entire 2022 fiscal year, demonstrating a strong deposit franchise. The company achieved a diluted EPS of $1.88, with adjusted diluted EPS at $1.90. Net income reached $143.5 million, representing a 36% year-over-year increase. Key highlights include a 120 basis point expansion in net interest margin and a 19% annualized growth in loans. A quarterly dividend of $0.50 per share was declared, payable on February 17, 2023. The company’s efficiency ratio improved to 48%, supported by a 5.5% revenue increase against just a 0.5% rise in expenses. SSB remains optimistic about future growth prospects.