Southern States Bancshares Full Year 2024 Earnings: EPS Beats Expectations

+0.54%

Southern States Bancshares, Inc.

SSBK

31.51

+0.54%

Southern States Bancshares (NASDAQ:SSBK) Full Year 2024 Results

Key Financial Results

Revenue: US$94.1m (up 14% from FY 2023).
Net income: US$34.9m (up 9.1% from FY 2023).
Profit margin: 37% (down from 39% in FY 2023). The decrease in margin was driven by higher expenses.
EPS: US$3.73 (up from US$3.63 in FY 2023).

SSBK Banking Performance Indicators

Net interest margin (NIM): 3.61% (down from 3.81% in FY 2023).
Non-performing loans: 0.29% (up from 0.06% in FY 2023).

revenue-and-expenses-breakdown — NasdaqGS:SSBK Revenue and Expenses Breakdown March 16th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

Southern States Bancshares EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.8%.

In the last 12 months, the only revenue segment was Banking contributing US$94.1m. The largest operating expense was General & Administrative costs, amounting to US$32.5m (55% of total expenses). Explore how SSBK's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Southern States Bancshares' balance sheet.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.