Southern States Bancshares Inc

Third Quarter 2024 Performance and Operational Highlights Net income of $7.4 million, or $0.76 per diluted share Core net income(1) of $8.7 million, or $0.89 per diluted share(1) Core pretax pre-provision net income(1) of $13.8 million Net interest income of $24.2 million, an increase of $2.7 million from the prior quarter Net interest margin (“NIM”) of 3.65%, up 9 basis points from the prior quarter NIM of 3.66% on a fully-taxable equivalent basis (“NIM - FTE”)(1) Return on average assets (“ROAA”) of 1.05%; return on average stockholders' equity (“ROAE”) of 11.89%; and return on average tangible common equity (“ROATCE”)(1) of 13.35% Core ROAA(1) of 1.24%; and core ROATCE(1) of 15.74% Efficiency ratio of 52.79%; and core efficiency ratio of 46.96% Linked-quarter loans grew 36.3% annualized; and legacy loans grew 10.3% annualized Linked-quarter total deposits grew 44.8% annualized Linked-quarter total deposits, excluding brokered deposits, grew 71.5% annualized; and legacy total deposits, excluding brokered deposits grew 9.6% annualized (1) See "Reconciliation of Non-GAAP Financial Measures" below for reconciliation of non-GAAP financial measures to their most closely comparable GAAP financial measures. ANNISTON, Ala.» Mehr auf globenewswire.com

ANNISTON, Ala., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), today announced that its Board of Directors has declared a cash dividend on its common stock of $0.09 per share. The dividend is payable on November 15, 2024 to shareholders of record as of November 1, 2024.» Mehr auf globenewswire.com

ANNISTON, Ala., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States”), the holding company for Southern States Bank, announced today the completion of its previously announced acquisition of CBB Bancorp (“CBB Bancorp”), the holding company for Century Bank of Georgia (“Century Bank”). Effective July 31, 2024, CBB Bancorp has been merged with and into Southern States, with Southern States surviving, and Century Bank has been merged with and into Southern States Bank, with Southern States Bank surviving.» Mehr auf globenewswire.com