SouthState Corporation (SSB)

SouthState Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	1,896	1,716	1,178	990.52	851.2	534.79
Interest Income on Investments	211.98	228	219	94.29	58.83	56.04
Total Interest Income	2,108	1,944	1,397	1,085	910.03	590.83
Interest Paid on Deposits	653.15	440.26	36.98	33.18	55.44	65.92
Interest Paid on Borrowings	54.94	51.54	24.37	18.45	28.12	20.63
Total Interest Expense	708.09	491.8	61.35	51.63	83.56	86.55
Net Interest Income	1,400	1,453	1,336	1,033	826.47	504.28
Net Interest Income Growth (YoY)	-6.32%	8.75%	29.28%	25.01%	63.89%	-1.74%
Trust Income	43.19	39.45	39.02	36.98	29.44	29.24
Mortgage Banking Activities	17.46	13.36	17.79	64.6	106.2	17.56
Gain (Loss) on Sale of Investments	-0	0.04	0.03	0.1	0.05	2.71
Other Non-Interest Income	92.36	105.05	127.6	149.81	91.13	18.61
Total Non-Interest Income	287.21	286.91	309.25	354.25	311.14	143.57
Non-Interest Income Growth (YoY)	0.84%	-7.22%	-12.70%	13.86%	116.72%	-1.50%
Revenues Before Loan Losses	1,687	1,740	1,645	1,387	1,138	647.84
Provision for Loan Losses	19.5	114.08	81.86	-165.27	235.99	12.78
Revenue	1,668	1,625	1,563	1,553	901.62	635.06
Revenue Growth (YoY)	2.44%	3.99%	0.67%	72.21%	41.97%	-1.57%
Salaries and Employee Benefits	570.33	547.54	519.07	526.31	393.28	225.91
Occupancy Expenses	1.17	-	-	-	-	-
Federal Deposit Insurance	62.28	58.76	23.03	17.98	10.71	4.55
Amortization of Goodwill & Intangibles	23.68	27.56	33.21	35.19	26.99	13.08
Selling, General & Administrative	246.22	247.63	238.68	220.61	185.55	112.29
Other Non-Interest Expense	94.85	98.22	84.46	67.35	91.63	31.49
Total Non-Interest Expense	1,003	981.42	898.81	869.47	711.74	390.56
EBT Excluding Unusual Items	664.87	644.01	664.25	683.23	189.88	244.5
Other Unusual Items	-	-	-	-11.71	-	-9.53
Pretax Income	649.49	630.85	633.36	604.28	103.97	230.43
Income Tax Expense	152.09	136.54	137.31	128.74	-16.66	43.94
Net Income	497.4	494.31	496.05	475.54	120.63	186.48
Net Income to Common	497.4	494.31	496.05	475.54	120.63	186.48
Net Income Growth	-6.33%	-0.35%	4.31%	294.21%	-35.31%	4.26%
Basic Shares Outstanding	76	76	75	70	55	35
Diluted Shares Outstanding	77	76	75	71	55	35
Shares Change (YoY)	0.32%	1.73%	6.05%	28.74%	58.24%	-5.38%
EPS (Basic)	6.52	6.50	6.65	6.76	2.20	5.40
EPS (Diluted)	6.48	6.46	6.60	6.71	2.19	5.36
EPS Growth	-6.82%	-2.12%	-1.64%	206.39%	-59.14%	10.29%
Dividend Per Share	2.100	2.040	1.980	1.920	1.880	1.670
Dividend Growth	3.96%	3.03%	3.13%	2.13%	12.57%	21.01%
Effective Tax Rate	23.42%	21.64%	21.68%	21.30%	-	19.07%

Source: S&P Capital IQ. Banks template. Financial Sources.