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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	130.75	114.66	74.94	54.71	47.79	43.17
Interest Income on Investments	20.37	17.6	7.91	3.07	2.5	3.78
Total Interest Income	151.12	132.26	82.85	57.78	50.29	46.96
Interest Paid on Deposits	60.02	45.37	8.91	4.31	7.85	11.62
Interest Paid on Borrowings	7.55	6.78	2.61	0.55	0.85	0.49
Total Interest Expense	67.57	52.15	11.51	4.86	8.71	12.11
Net Interest Income	83.55	80.11	71.34	52.91	41.58	34.85
Net Interest Income Growth (YoY)	5.37%	12.30%	34.82%	27.27%	19.31%	17.48%
Gain (Loss) on Sale of Investments	0.09	0.56	-0.63	-0.06	0.74	0.01
Other Non-Interest Income	0.96	6.53	7.45	9.33	6.34	5.16
Total Non-Interest Income	2.86	8.87	8.68	10.8	8.54	6.71
Non-Interest Income Growth (YoY)	-80.38%	2.27%	-19.68%	26.48%	27.29%	93.69%
Revenues Before Loan Losses	86.41	88.99	80.02	63.72	50.12	41.56
Provision for Loan Losses	5.66	6.09	5.61	2.98	3.3	5.7
Revenue	80.76	82.9	74.41	60.73	46.82	35.86
Revenue Growth (YoY)	-7.75%	11.40%	22.52%	29.72%	30.56%	15.92%
Salaries and Employee Benefits	22.95	24.8	23.69	20.84	18.03	14.51
Federal Deposit Insurance	1.41	1.2	0.93	0.95	0.78	0.24
Selling, General & Administrative	5.02	6.17	6.27	6.59	6.26	4.14
Other Non-Interest Expense	10.7	9.71	8.73	8.05	7.13	5.5
Total Non-Interest Expense	40.07	41.88	39.61	36.44	32.19	24.4
EBT Excluding Unusual Items	40.69	41.02	34.8	24.3	14.63	11.46
Pretax Income	40.69	41.02	34.8	24.3	14.63	8.09
Income Tax Expense	8.85	9.07	7.73	5.73	2.53	2.49
Net Income	31.84	31.95	27.07	18.57	12.11	5.6
Net Income to Common	31.84	31.95	27.07	18.57	12.11	5.6
Net Income Growth	-5.56%	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)	1.10%	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	-6.59%	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	21.74%	22.11%	22.20%	23.59%	17.26%	30.74%

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