Southern States Bancshares, Inc. (SSBK)

SSBK Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	146.71	114.66	74.94	54.71	47.79
Interest Income on Investments	23.07	17.6	7.91	3.07	2.5
Total Interest Income	169.78	132.26	82.85	57.78	50.29
Interest Paid on Deposits	70.63	45.37	8.91	4.31	7.85
Interest Paid on Borrowings	7.44	6.78	2.61	0.55	0.85
Total Interest Expense	78.07	52.15	11.51	4.86	8.71
Net Interest Income	91.71	80.11	71.34	52.91	41.58
Net Interest Income Growth (YoY)	14.47%	12.30%	34.82%	27.27%	19.31%
Gain (Loss) on Sale of Investments	0.11	0.56	-0.63	-0.06	0.74
Other Non-Interest Income	5.26	6.53	7.45	9.33	6.34
Total Non-Interest Income	7.39	8.87	8.68	10.8	8.54
Non-Interest Income Growth (YoY)	-16.72%	2.27%	-19.68%	26.48%	27.29%
Revenues Before Loan Losses	99.1	88.99	80.02	63.72	50.12
Provision for Loan Losses	4.96	6.09	5.61	2.98	3.3
Revenue	94.14	82.9	74.41	60.73	46.82
Revenue Growth (YoY)	13.56%	11.40%	22.52%	29.72%	30.56%
Salaries and Employee Benefits	26.22	24.8	23.69	20.84	18.03
Federal Deposit Insurance	1.59	1.2	0.93	0.95	0.78
Selling, General & Administrative	6.33	6.17	6.27	6.59	6.26
Other Non-Interest Expense	12.9	9.71	8.73	8.05	7.13
Total Non-Interest Expense	47.04	41.88	39.61	36.44	32.19
EBT Excluding Unusual Items	47.1	41.02	34.8	24.3	14.63
Pretax Income	45.59	41.02	34.8	24.3	14.63
Income Tax Expense	10.72	9.07	7.73	5.73	2.53
Net Income	34.87	31.95	27.07	18.57	12.11
Net Income to Common	34.87	31.95	27.07	18.57	12.11
Net Income Growth	9.13%	18.03%	45.80%	53.36%	116.12%
Basic Shares Outstanding	9	9	9	8	8
Diluted Shares Outstanding	10	9	9	8	8
Shares Change (YoY)	5.15%	0.99%	7.61%	7.09%	12.52%
EPS (Basic)	3.73	3.63	3.09	2.26	1.58
EPS (Diluted)	3.67	3.53	3.02	2.23	1.56
EPS Growth	3.86%	16.90%	35.61%	43.12%	92.70%
Dividend Per Share	0.360	0.360	0.360	0.180	0.330
Dividend Growth	0%	0%	100.00%	-45.45%	6.45%
Effective Tax Rate	23.52%	22.11%	22.20%	23.59%	17.26%

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