Southern BancShares (N.C.), Inc. (SBNC)

SBNC Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	164.2	158.68	134.55	106.54	100.65	99.47
Interest Income on Investments	38.94	38.94	35.39	34.43	22.39	18.67
Total Interest Income	203.14	197.62	169.94	140.96	123.04	118.14
Interest Paid on Deposits	58.76	59.17	38.95	6.56	2.26	5.75
Interest Paid on Borrowings	12.96	12.96	12.9	4.62	2.86	2.45
Total Interest Expense	71.72	72.13	51.84	11.18	5.12	8.2
Net Interest Income	131.42	125.49	118.1	129.78	117.92	109.93
Net Interest Income Growth (YoY)	11.16%	6.26%	-9.00%	10.06%	7.27%	12.21%
Gain (Loss) on Sale of Investments	48.51	148.01	139.55	-16.06	55.26	14.58
Other Non-Interest Income	22.77	22.33	19.36	17.88	17.79	13.76
Total Non-Interest Income	79.91	178.96	167.31	11.42	84.85	41.11
Non-Interest Income Growth (YoY)	-52.71%	6.97%	1365.56%	-86.55%	106.42%	-24.88%
Revenues Before Loan Losses	211.32	304.45	285.41	141.2	202.77	151.04
Provision for Loan Losses	0.5	0.79	-0.16	6.28	-0.82	9.12
Revenue	210.82	303.66	285.57	134.92	203.58	141.92
Revenue Growth (YoY)	-26.40%	6.33%	111.66%	-33.73%	43.45%	-6.14%
Salaries and Employee Benefits	62.65	62.65	60.2	57.84	54.33	50.04
Occupancy Expenses	6.28	6.28	6.38	6.42	6.33	6.1
Federal Deposit Insurance	2.44	2.44	2.38	1.42	1.23	0.72
Amortization of Goodwill & Intangibles	1.05	1.05	1.2	1.11	1.67	1.6
Selling, General & Administrative	22.21	22.21	19.89	19.39	17.94	17.99
Other Non-Interest Expense	9.98	8.99	10.56	9.3	6.94	7.62
Total Non-Interest Expense	104.61	103.61	100.61	95.48	88.43	85.84
EBT Excluding Unusual Items	106.22	200.05	184.96	39.44	115.15	56.08
Other Unusual Items	-	-	2.18	-	-	-
Pretax Income	106.22	200.05	187.14	39.44	115.15	56.08
Income Tax Expense	22.4	42.22	38.75	9.52	21.6	11.45
Net Income	83.82	157.82	148.39	29.92	93.55	44.64
Preferred Dividends & Other Adjustments	0.26	0.26	0.26	0.27	0.27	0.57
Net Income to Common	83.56	157.57	148.13	29.65	93.28	44.07
Net Income Growth	-43.33%	6.36%	395.97%	-68.02%	109.58%	-21.52%
Basic Shares Outstanding	0	0	0	0	0	0
Diluted Shares Outstanding	0	0	0	0	0	0
Shares Change (YoY)	-1.66%	-1.72%	-1.08%	-1.63%	-0.87%	-0.76%
EPS (Basic)	1098.62	2064.11	1907.08	377.64	1168.54	547.29
EPS (Diluted)	1098.62	2064.11	1907.08	377.64	1168.54	547.29
EPS Growth	-42.45%	8.23%	405.00%	-67.68%	113.51%	-19.67%
Dividend Per Share	18.750	25.000	25.000	25.000	20.000	15.000
Dividend Growth	-25.00%	-	-	25.00%	33.33%	50.00%
Effective Tax Rate	21.09%	21.11%	20.71%	24.14%	18.76%	20.41%

Updated Jul 23, 2024. Source: S&P Global Market Intelligence. Banks template. Financial Sources.