- SouthState Corporation (SSB, Financial) reports Q1 2025 net income of $89.1 million.
- Net interest margin improved to 3.85%.
- Declared a quarterly cash dividend of $0.54 per share.
SouthState Corporation (SSB) announced its Q1 2025 financial results, revealing a net income of $89.1 million and an adjusted net income of $219.3 million. The company's diluted earnings per share (EPS) were reported at $0.87, with an adjusted EPS of $2.15. This adjustment considers significant transactions, including the IBTX acquisition in January and a sale-leaseback transaction executed in March.
The bank's net interest margin showed improvement, reaching 3.85%, supported by net interest income of $545 million. Despite a $229 million gain from the sale-leaseback transaction being offset by a $229 million loss from securities portfolio restructuring, SouthState's capital metrics remain robust. The total risk-based capital ratio stands at 13.7%, with Tier 1 common equity at 11.0%.
SouthState Corporation declared a quarterly cash dividend of $0.54 per share, payable on May 16, 2025, to shareholders of record as of May 9, 2025. The company reports total assets of $65.1 billion, including $46.1 billion in loans and $53.3 billion in deposits. This financial performance was bolstered by the successful acquisition of Independent Bank Group, expanding the company's scale and market presence.
