Southern States Bancshares, Inc. (SSBK)

SSBK 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	139.35	114.66	74.94	54.71	47.79	43.17
Interest Income on Investments	21.63	17.6	7.91	3.07	2.5	3.78
Total Interest Income	160.98	132.26	82.85	57.78	50.29	46.96
Interest Paid on Deposits	66.28	45.37	8.91	4.31	7.85	11.62
Interest Paid on Borrowings	7.64	6.78	2.61	0.55	0.85	0.49
Total Interest Expense	73.92	52.15	11.51	4.86	8.71	12.11
Net Interest Income	87.07	80.11	71.34	52.91	41.58	34.85
Net Interest Income Growth (YoY)	8.03%	12.30%	34.82%	27.27%	19.31%	17.48%
Gain (Loss) on Sale of Investments	0.18	0.56	-0.63	-0.06	0.74	0.01
Other Non-Interest Income	5.43	6.53	7.45	9.33	6.34	5.16
Total Non-Interest Income	7.51	8.87	8.68	10.8	8.54	6.71
Non-Interest Income Growth (YoY)	-27.48%	2.27%	-19.68%	26.48%	27.29%	93.69%
Revenues Before Loan Losses	94.58	88.99	80.02	63.72	50.12	41.56
Provision for Loan Losses	7.46	6.09	5.61	2.98	3.3	5.7
Revenue	87.12	82.9	74.41	60.73	46.82	35.86
Revenue Growth (YoY)	1.89%	11.40%	22.52%	29.72%	30.56%	15.92%
Salaries and Employee Benefits	25.66	24.8	23.69	20.84	18.03	14.51
Federal Deposit Insurance	1.5	1.2	0.93	0.95	0.78	0.24
Selling, General & Administrative	6.47	6.17	6.27	6.59	6.26	4.14
Other Non-Interest Expense	11.62	9.71	8.73	8.05	7.13	5.5
Total Non-Interest Expense	45.25	41.88	39.61	36.44	32.19	24.4
EBT Excluding Unusual Items	41.87	41.02	34.8	24.3	14.63	11.46
Pretax Income	41.93	41.02	34.8	24.3	14.63	8.09
Income Tax Expense	9.36	9.07	7.73	5.73	2.53	2.49
Net Income	32.57	31.95	27.07	18.57	12.11	5.6
Net Income to Common	32.57	31.95	27.07	18.57	12.11	5.6
Net Income Growth	-3.22%	18.03%	45.80%	53.36%	116.12%	-27.36%
Basic Shares Outstanding	9	9	9	8	8	7
Diluted Shares Outstanding	9	9	9	8	8	7
Shares Change (YoY)	2.79%	0.99%	7.61%	7.09%	12.52%	5.93%
EPS (Basic)	3.58	3.63	3.09	2.26	1.58	0.82
EPS (Diluted)	3.51	3.53	3.02	2.23	1.56	0.81
EPS Growth	-6.08%	16.90%	35.61%	43.12%	92.70%	-31.47%
Dividend Per Share	0.360	0.360	0.360	0.180	0.330	0.310
Dividend Growth	0%	0%	100.00%	-45.45%	6.45%	6.90%
Effective Tax Rate	22.32%	22.11%	22.20%	23.59%	17.26%	30.74%

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