Southern States BancsharesSSBK
SSBK
About: Southern States Bancshares Inc is a full-service community banking institution, that offers an array of deposit, loan, and other banking-related products and services to businesses and individuals in communities. It has three portfolio segments Real estate, Commercial and industrial, Consumer and other.
Employees: 185
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
467% more first-time investments, than exits
New positions opened: 17 | Existing positions closed: 3
56% more repeat investments, than reductions
Existing positions increased: 25 | Existing positions reduced: 16
22% more funds holding
Funds holding: 64 [Q2] → 78 (+14) [Q3]
18% more capital invested
Capital invested by funds: $133M [Q2] → $156M (+$23.6M) [Q3]
2.15% more ownership
Funds ownership: 54.88% [Q2] → 57.03% (+2.15%) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 2 [Q2] → 2 (+0) [Q3]
Research analyst outlook
We haven’t received any recent analyst ratings for SSBK.
Financial journalist opinion
Neutral
GlobeNewsWire
2 months ago
Southern States Bancshares, Inc. Announces Third Quarter 2024 Financial Results
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.
Neutral
GlobeNewsWire
2 months ago
Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 per Share
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.
Neutral
GlobeNewsWire
4 months ago
Southern States Bancshares Completes Acquisition of CBB Bancorp
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.
Neutral
GlobeNewsWire
5 months ago
Southern States Bancshares, Inc. Announces Second Quarter 2024 Financial Results
Second Quarter 2024 Performance and Operational Highlights Net income of $8.2 million, or $0.90 per diluted share Core net income (1) of $9.1 million, or $1.00 per diluted share (1) Net interest income of $ 21.6 million, an increase of $ 740,000 from the prior quarter Net interest margin (“NIM”) of 3.56% , down 3 basis points from the prior quarter NIM of 3.57% on a fully-taxable equivalent basis (“NIM - FTE”) (1) Return on average assets (“ROAA”) of 1.29%; return on average stockholders' equity (“ROAE”) of 14.55%; and return on average tangible common equity (“ROATCE”)(1) of 15.79% Core ROAA (1) of 1.43% ; and core ROATCE (1) of 17.44% Efficiency ratio of 49.78% ; and core efficiency ratio of 44.75% Linked-quarter loans grew 10.3% annualized Linked-quarter total deposits grew 12.6% annualized Linked-quarter total deposits, excluding brokered deposits, grew 15.2% 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.
Neutral
GlobeNewsWire
5 months ago
Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 Per Share
ANNISTON, Ala., July 17, 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 August 12, 2024 to shareholders of record as of July 31, 2024.
Neutral
GlobeNewsWire
8 months ago
Southern States Bancshares, Inc. Announces First Quarter 2024 Financial Results
First Quarter 2024 Performance and Operational Highlights Net income of $8.1 million, or $0.90 per diluted share Core net income (1) of $8.1 million, or $0.90 per diluted share (1) Net interest income of $20.8 million, an increase of $ 435,000 from the prior quarter Net interest margin (“NIM”) of 3.59% , down 10 basis points from the prior quarter NIM of 3.60% on a fully-taxable equivalent basis (“NIM - FTE”) (1) Return on average assets (“ROAA”) of 1.33% ; return on average stockholders' equity (“ROAE”) of 14.87% ; and return on average tangible common equity (“ROATCE”) (1) of 16.17% Core ROAA (1) of 1.34% ; and core ROATCE (1) of 16.19% Efficiency ratio of 46.90% Linked-quarter loan growth of 17.2% annualized Linked-quarter total deposit s grew 18.3% annualized Linked-quarter total deposits, excluding brokered deposits, grew 7.1% 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.
Neutral
GlobeNewsWire
8 months ago
Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 Per Share
ANNISTON, Ala., April 17, 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 May 16, 2024 to shareholders of record as of May 3, 2024.
Neutral
GlobeNewsWire
9 months ago
Southern States Bancshares Announces Retirement of COO Jack Swift
ANNISTON, Ala., March 21, 2024 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States” or the “Company”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), today announced the retirement of Chief Operating Officer Jack Swift, effective May 31, 2024.
Neutral
GlobeNewsWire
9 months ago
Southern States Bancshares to Enhance Georgia Franchise With Acquisition of CBB Bancorp
ANNISTON, Ala. and CARTERSVILLE, Ga., Feb. 28, 2024 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States”), the holding company for Southern States Bank, and CBB Bancorp (“CBB Bancorp”), the holding company for Century Bank of Georgia (“Century Bank”), announced today the signing of a definitive merger agreement under which Southern States would acquire CBB Bancorp. Upon completion, Southern States expects to merge CBB Bancorp with and into Southern States, with Southern States as the surviving entity. Century Bank of Georgia would similarly be merged with and into Southern States Bank with Southern States Bank surviving. The transaction is expected to close in the third quarter of 2024, subject to regulatory approval.
Neutral
GlobeNewsWire
11 months ago
Southern States Bancshares, Inc. Announces Fourth Quarter 2023 Financial Results
Fourth Quarter 2023 Performance and Operational Highlights Core net income (1) of $7.3 million, or $0.81 per diluted share (1) Net income of $8.9 million, or $0.99 per diluted share Net interest income of $20.4 million, a decrease of $ 327,000 from the prior quarter Net interest margin (“NIM”) of 3.69% , down 9 basis points from the prior quarter NIM of 3.71% on a fully-taxable equivalent basis (“NIM - FTE”) (1) Return on average assets (“ROAA”) of 1.53% ; return on average stockholders' equity (“ROAE”) of 17.02% ; and return on average tangible common equity (“ROATCE”) (1) of 18.62% Core ROAA (1) of 1.26% ; and core ROATCE (1) of 15.26% Efficiency ratio of 41.48% ; and core efficiency ratio of 45.78% Linked-quarter loan growth was 24.7% annualized Linked-quarter total deposits grew 21.1% annualized Linked-quarter total deposits, excluding brokered deposits, grew 8.9% 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.
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