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Southern States Bancshares Inc - SSBK STOCK NEWS

Welcome to our dedicated news page for Southern States Bancshares (Ticker: SSBK), a resource for investors and traders seeking the latest updates and insights on Southern States Bancshares.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Southern States Bancshares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Southern States Bancshares's position in the market.

Rhea-AI Summary
Southern States Bancshares, Inc. reported net income of $8.1 million or $0.90 per diluted share for the first quarter of 2024. The company showed strong loan growth of 17.2% annualized and a healthy net interest margin of 3.59%. Despite a decrease in noninterest income, Southern States remains well-positioned for growth and value creation for shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.83%
Tags
-
Rhea-AI Summary
Southern States Bancshares, Inc. declares a quarterly cash dividend of $0.09 per share. The dividend is payable on May 16, 2024, to shareholders of record as of May 3, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.67%
Tags
dividends
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Rhea-AI Summary
Southern States Bancshares, Inc. (NASDAQ: SSBK) announces the retirement of Chief Operating Officer Jack Swift after 18 years of service. The retirement is effective May 31, 2024, marking the end of Swift's 40-year banking career. Swift played a crucial role in Southern States' growth and success, leaving a strong foundation for continued growth and results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.04%
Tags
none
Rhea-AI Summary
Southern States Bancshares, Inc. (NASDAQ: SSBK) announces the acquisition of CBB Bancorp, merging Century Bank of Georgia into Southern States Bank. The transaction, expected to close in Q3 2024, will result in Southern States Bank having $2.8 billion in assets, $2.3 billion in deposits, and $2.0 billion in loans. The merger aims to strengthen Southern States' presence in Georgia, particularly in the Atlanta metro market. Century Bank's solid core deposit base and strong liquidity position are expected to enhance the combined bank's balance sheet and franchise value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.96%
Tags
-
Rhea-AI Summary
Southern States Bancshares, Inc. (SSBK) reported net income of $8.9 million, or $0.99 diluted earnings per share, for the fourth quarter of 2023, compared to $6.6 million in the third quarter of 2023. Core net income was $7.3 million, or $0.81 diluted core earnings per share, compared to $9.6 million in the third quarter of 2023. The company experienced a decrease in net interest income and net interest margin, while efficiency ratios improved. Loan growth was 24.7% annualized, and total deposits grew 21.1% annualized. Noninterest income increased, and noninterest expense also saw an increase. Loans, net of unearned income, increased by $110.4 million, and nonperforming loans decreased. Total deposits were $2.0 billion, and total stockholders' equity was $215.0 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.41%
Tags
-
Rhea-AI Summary
Southern States Bancshares, Inc. (NASDAQ: SSBK) has declared a cash dividend of $0.09 per share on its common stock, payable on February 15, 2024, to shareholders of record as of February 2, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.37%
Tags
dividends
Rhea-AI Summary
Southern States Bancshares, Inc. (NASDAQ: SSBK) has announced the renewal of its $10.0 million stock repurchase program, authorizing the repurchase of up to $10.0 million of its common stock from January 1, 2024 through December 31, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.6%
Tags
buyback
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Rhea-AI Summary
Southern States Bancshares, Inc. reports Q3 2023 net income of $6.6 million, or $0.73 diluted earnings per share. Core net income was $9.6 million, or $1.06 diluted core earnings per share. Net interest income increased by $1.3 million from the prior quarter. Loan growth was 13.3% annualized.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.26%
Tags
-
Rhea-AI Summary
Southern States Bancshares declares cash dividend on common stock
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.64%
Tags
dividends
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.89%
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Southern States Bancshares Inc

Nasdaq:SSBK

SSBK Rankings

SSBK Stock Data

207.73M
5.00M
16.63%
54.57%
0.47%
Commercial Banking
Finance and Insurance
Link
US
Anniston

About SSBK

southern states bank, the common sense bank, is a true community bank that understands the value of providing our customers with the very best in banking products and services. our seasoned banking professionals are local people you know and trust, committed to our mission of giving you the personal attention and service you should expect from your bank. we currenlty have seven locations throughout alabama and georgia. alabama locations: anniston, birmingham, huntsville, opelika, sylacauga. georgia locations: carrollton, columbus. member fdic and equal housing lender