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 (NYSE: SSB) is a financial services company headquartered in Winter Haven, Florida and operates in the commercial banking industry. Its news flow reflects activities across consumer and commercial banking, mortgage services, wealth management and correspondent banking, as well as corporate governance and capital management developments.
News updates for SouthState often include quarterly earnings announcements and related conference call details. Through press releases and Form 8-K filings, the company reports financial results for each quarter, highlighting net interest income, noninterest income, loan and deposit trends, capital ratios and dividend declarations. Investors can follow these updates to track measures such as return on average assets, return on average common equity, and efficiency ratios, including adjusted non-GAAP metrics.
Company news also covers strategic and operational developments. SouthState has reported on the acquisition and integration of Independent Bank Group, Inc., the expansion of its footprint into new markets such as Tennessee, and the hiring of experienced bankers across its nine-state region. Additional releases describe initiatives like expanded instant payments capabilities for Treasury customers using The Clearing House’s Real-Time Payments network and the Federal Reserve’s FedNow service.
Governance and corporate structure changes appear in SouthState’s news as well. Examples include the appointment of new board members and the redomicile from South Carolina to Florida through a merger into SouthState Bank Corporation, with the stock continuing to trade under the SSB ticker. By reviewing the SSB news feed, readers can see how the company communicates financial performance, geographic expansion, technology initiatives and board-level decisions that shape its regional banking franchise.
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.
SouthState Corporation (NASDAQ: SSB) announced it will release its fourth quarter 2022 earnings on January 26, 2023, after market close. Investors can access the results on SouthState's website under the Investor Relations section. A conference call to discuss the results will be held on January 27, 2023, at 10:00 a.m. (ET). Participants can dial (844) 200-6205 for U.S. callers or (929) 526-1599 for international callers. The conference ID is 040590. A live webcast will also be available on SouthState's website.
SouthState Bank has enhanced its team by hiring seven experienced bankers, strengthening its presence in South Carolina and Alabama. These bankers bring extensive backgrounds in commercial and private banking, which is expected to enhance client service in the region. Notable hires include Jon Chilton, Chris Parish, and Nikki Blanco, among others. Their diverse experiences span various banking roles with reputed institutions like Truist and TD Bank. This strategic recruitment aims to support SouthState's commitment to providing exceptional banking services.
On November 28, 2022, SouthState announced a $1 million donation to Family First, a nonprofit organization dedicated to strengthening families through programs like iMOM and All Pro Dad. This donation aims to enhance Family First's reach and impact, enabling them to provide essential resources and support to millions. The initiative aligns with SouthState's core values of community service and family support. The donation is expected to foster significant change in families' lives nationwide.
SouthState Corporation (NASDAQ: SSB) reported strong Q3 2022 results with a net income of $133 million and earnings per share (EPS) of $1.75. Adjusted EPS reached $1.89, driven by a pre-provision net revenue of $208 million. The net interest margin expanded to 3.53%, while loans increased by $901 million annually. The bank declared a dividend of $0.50 per share, payable on November 18, 2022. However, deposits saw a temporary decline of $1.2 billion, attributed to payroll ACH payments. This quarter reflects SouthState's resilience amidst an uncertain economic landscape.
SouthState Corporation (NASDAQ: SSB) announced the upcoming release of its third quarter 2022 earnings results on October 24, 2022, after market close. Investors can find the results on SouthState's website under the Investor Relations section. A conference call will be held on October 25, 2022, at 9:00 a.m. ET, hosted by CFO Will Matthews. Interested parties can join by calling toll free (844) 200-6205 or listen via the live webcast on the company's website. An audio replay will be available on the site later that day.
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