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SouthState Corporation Reports First Quarter 2025 Results, Declares Quarterly Cash Dividend
SouthState Corporation ("SouthState" or the "Company") (NYSE: SSB) today released its unaudited results of operations and other financial information for the three-month period ended March 31, 2025.
About this update from Southstate Bank Corporation
[{"type":"text","content":"WINTER HAVEN, Fla., April 24, 2025 /PRNewswire/ -- SouthState Corporation ("SouthState" or the "Company") (NYSE: SSB) today released its unaudited results of operations and other financial information for the three-month period ended March 31, 2025.","length":275,"tagName":"p"},{"type":"image","alt":"SouthState Corporation Reports First Quarter 2025 Results","displaySize":"","headline":null,"caption":"SouthState Corporation Reports First Quarter 2025 Results","className":"","disableSlideshowImg":false,"size":{"original":{"width":200,"height":113,"url":"https://media.zenfs.com/en/prnewswire.com/28e77fdc07c3ffbcc3bce1d5f1bd4e8c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/7IhZqCWZ2JnKvF_I7m2yPw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTM2MDtoPTIwMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/28e77fdc07c3ffbcc3bce1d5f1bd4e8c","width":200,"height":113}},"href":"https://mma.prnewswire.com/media/2672799/SouthState_Corporation_Reports_First_Quarter_2025_Results.pdf?p=original","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""The first quarter was a strategic reset that took SouthState's earnings profile from good to great", commented John C. Corbett, SouthState's Chief Executive Officer. "We closed the IBTX acquisition in January and then closed the sale leaseback transaction and securities restructure in March. The securities restructuring and better than expected deposit pricing pushed our net interest margin to 3.85%. SouthState is now positioned with industry-leading profitability and strong liquidity, capital and asset quality for the uncertainties that lie ahead."","length":590,"tagName":"p"},{"type":"text","content":"Highlights of the first quarter of 2025 include:","length":48,"tagName":"p"},{"type":"text","content":"Returns","length":7,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Reported Diluted Earnings per Share ("EPS") of $0.87; Adjusted Diluted EPS (Non-GAAP) of $2.15","length":104,"tagName":"p"}]},{"val":[{"type":"text","content":"Net Income of $89.1 million; Adjusted Net Income (Non-GAAP) of $219.3 million","length":77,"tagName":"p"}]},{"val":[{"type":"text","content":"Return on Average Common Equity of 4.3%; Return on Average Tangible Common Equity (Non-GAAP) of 9.0% and Adjusted Return on Average Tangib...