SouthState Bank Past Earnings Performance
Past criteria checks 5/6
SouthState Bank has been growing earnings at an average annual rate of 13.6%, while the Banks industry saw earnings growing at 3.2% annually. Revenues have been growing at an average rate of 11.4% per year. SouthState Bank's return on equity is 10.4%, and it has net margins of 34.9%.
Key information
13.65%
Earnings growth rate
6.27%
EPS growth rate
| Banks Industry Growth | 11.18% |
| Revenue growth rate | 11.42% |
| Return on equity | 10.36% |
| Net Margin | 34.95% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Analysis Article • Jun 17
SouthState Bank (SSB) Stock Could Be 17.9% Below Fair Value After Recent Gains
SouthState Bank (SSB) stock has been drawing attention after recent share price gains, with investors weighing how its current valuation lines up against fundamentals, recent performance and the broader regional banking sector. See our latest analysis for SouthState Bank. SouthState Bank’s recent move to a US$97.63 share price follows a steady build in momentum, with a 30-day share price return of 5.87% and a 1-year total shareholder return of 17.62%, on top of strong 3-year and 5-year total...Seeking Alpha • Jun 13
SouthState Bank Corporation Has Proven Its Case (Rating Upgrade)
Summary SouthState Bank Corporation is upgraded from ‘hold’ to a soft ‘buy’ following the successful integration of its Independent Bank Group merger. SSB’s profitability and scale have increased, with net profits rising from $89.1M to $225.8M and assets now at $68B. Asset quality is strong, with return on assets at 1.37% and return on equity at 10.11%, both exceeding peer averages. Valuation is reasonable at 11.5x forward P/E and near book value, though uninsured deposits remain a watchpoint at 38.8%. Read the full article on Seeking Alpha
Narrative Update • Mar 26
SSB: Strong Capital And Buybacks Should Support Future Premium Earnings
The updated analyst price target for SouthState Bank has been revised slightly lower to about $118.85 from $120, as analysts balance earlier target increases with a recent reduction that reflects adjusted valuation assumptions rather than major changes to the underlying outlook. Analyst Commentary Recent research on SouthState Bank reflects a mix of optimism around profitability and capital strength alongside some more cautious tweaks to targets as earnings season approaches.Narrative Update • Mar 09
SSB: Strong Capital And Buybacks Will Support Future Earnings Premium
SouthState Bank's analyst price targets have edged higher by a few dollars, with analysts pointing to steady revenue and margin assumptions, along with a slightly lower future P/E outlook, as reasons to refine their valuation views. Analyst Commentary Recent research updates show a cluster of price target moves around SouthState Bank, with most analysts fine tuning their models rather than making wholesale changes to their views.Narrative Update • Feb 21
SSB: Strong Capital And Buybacks Will Support Earnings Durability
Analysts have slightly raised their average price targets on SouthState Bank by single-digit dollar amounts. These updates reflect views that solid profitability, strong capital, and relatively clean credit metrics are key supports for the stock.Narrative Update • Feb 07
SSB: Strong Capital And Share Repurchases Are Expected To Support Returns
Analysts have lifted their fair value estimate for SouthState Bank to $120.00 from $114.68, citing a slightly higher assumed P/E multiple and updated expectations for revenue growth and profitability. Analyst Commentary Recent Street research on SouthState Bank has centered on where the stock should trade relative to its peers, with several firms adjusting price targets in both directions.Narrative Update • Jan 23
SSB: Strong Capital And Loan Pipeline Will Support Earnings As Buybacks Continue
Analysts have trimmed their fair value estimate for SouthState Bank slightly to about $114.68 from $114.96. This reflects modest tweaks to assumptions on revenue growth, profit margins, and future P/E, while recent research still cites solid profitability, strong loan production, and supportive capital levels.Narrative Update • Jan 08
SSB: Strong Capital And Loan Pipeline Will Support Earnings Despite Margin Concerns
Analysts have nudged their fair value estimate for SouthState Bank slightly higher to about $115, reflecting updated assumptions around revenue growth, profit margins, and future P/E. Recent Street price targets clustered around $110 to $120 highlight mixed views on near term margin pressures versus ongoing loan growth and capital strength.Narrative Update • Dec 15
SSB: Growing Loan Pipeline Will Sustain Earnings Momentum Despite Margin Headwinds
Analysts have nudged their consolidated fair value estimate for SouthState Bank slightly higher to approximately $114.11 from about $114.04, as modestly stronger projected revenue growth, stable profit margins, and resilient loan production continue to support longer term earnings power, despite a series of modest price target trims on near term net interest margin pressures. Analyst Commentary Bullish analysts note that, despite modest price target trims, the investment case for SouthState Bank remains supported by solid execution, particularly in loan production, fee income, and disciplined expense control, which together underpin the slightly higher fair value estimate.Narrative Update • Nov 28
SSB: Pipeline Expansion Will Sustain Positive Momentum Despite Margin Pressure
Analysts have slightly lowered their average price target for SouthState Bank, with estimates now ranging from $110 to $120 per share. This revision is due to a tempered margin outlook, although the company continues to demonstrate strong loan growth and robust financial performance.Narrative Update • Nov 14
SSB: Franchise Momentum And Loan Pipeline Will Drive Upside Despite Margin Concerns
SouthState Bank's analyst price target has been modestly reduced by $1.00 to $114.04, as analysts cite tempered margin outlooks and near-term net interest challenges. This comes despite continued franchise momentum and strong loan growth prospects.Narrative Update • Oct 31
SSB: Accelerating Loan Pipelines And Lower Costs Will Drive Resilient Profitability
Analysts have revised their price targets for SouthState Bank downward by several dollars per share. This reflects slightly reduced fair value and revenue growth estimates, due to tempered net interest margin outlooks and evolving market expectations.Narrative Update • Oct 10
Acquisition Integration And Sunbelt Expansion Will Strengthen Future Efficiency
Analysts have raised their price target for SouthState Bank by $1.42 to $118.35. This reflects modest expectations for higher revenue growth, even as profit margins remain steady.Narrative Update • Sep 26
Acquisition Integration And Sunbelt Expansion Will Strengthen Future Efficiency
Analysts have marginally raised SouthState Bank’s price target to $116.92, citing cautious optimism about its strong capital position, anticipated commercial lending rebound, and a favorable growth profile versus peers. Analyst Commentary Cautious optimism around SouthState’s strong capital position and potential to benefit from a rebound in commercial lending during the second half of the year.Analysis Article • Jul 28
SouthState's (NYSE:SSB) Dividend Will Be Increased To $0.60
SouthState Corporation's ( NYSE:SSB ) dividend will be increasing from last year's payment of the same period to $0.60...Seeking Alpha • Mar 09
SouthState Ready For The Next Phase In Its Growth Story
Summary SouthState's acquisition of Independent Bank, strong service reputation, and solid execution in 2024 bode well for 2025, despite potential sector-wide loan growth and rate challenges. SouthState's solid performance in a challenging 2024 included stable net interest margins, peer-consistent expense leverage, above-average loan growth, and competitive deposit growth. Large banks are talking about growing their share in Southeast markets, but they lag SouthState in terms of customer satisfaction metrics, and a high-touch service model can drive further gains. Despite uncertainties in 2025, SouthState's quality service and proven growth strategy make it a worthwhile investment, with shares 20%-30% below fair value. Read the full article on Seeking AlphaSeeking Alpha • Sep 27
SouthState Corporation: Strong Growth Prospects Can Power An Attractive Investment Case
Summary Shares of leading Southern bank SouthState Corporation have done well since funding cost headwinds began battering U.S. banks in early 2023. SouthState has an enviable deposit franchise, while its geographic footprint leaves it with attractive growth potential. As with most banks, net interest income has been subdued here recently, but the bank's headwinds are now largely behind it. Between margin expansion, organic growth, and the deal to acquire Texas-based Independent Bank Group, SouthState's growth prospects look strong. At just 12.5x consensus '25 EPS, that growth can filter down to shareholder returns, too. Read the full article on Seeking Alpha
New Narrative • Aug 28
Strategic Expansions And Nimble Financial Management Poised To Propel Growth Amid Challenges
SouthState's anticipated net interest margin inflection and strategic market expansion indicate potential revenue and customer growth without specifying financial figures.Seeking Alpha • Jun 28
SouthState Bank Keeping Its Foot Firmly On The Accelerator
Summary SouthState continues to aggressively pursue growth across the Southeastern U.S., and the acquisition of Independent Bank gives the company a foothold in the attractive Texas market. IBTX will give SouthState some attractive growth leverage, and long-term funding and margin improvement opportunities, but a retail and office-heavy portfolio is a near-term risk. I expected around 7% core earnings growth from SouthState before the deal, supporting a fair value in the low-$80's, and I think IBTX will be a value-adding deal over time. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How SouthState Bank makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 2,677 | 935 | 1,145 | 0 |
| 31 Dec 25 | 2,556 | 799 | 1,128 | 0 |
| 30 Sep 25 | 2,325 | 695 | 1,047 | 0 |
| 30 Jun 25 | 2,065 | 592 | 972 | 0 |
| 31 Mar 25 | 1,829 | 509 | 895 | 0 |
| 31 Dec 24 | 1,702 | 535 | 825 | 0 |
| 30 Sep 24 | 1,668 | 497 | 818 | 0 |
| 30 Jun 24 | 1,630 | 478 | 811 | 0 |
| 31 Mar 24 | 1,609 | 469 | 804 | 0 |
| 31 Dec 23 | 1,625 | 494 | 795 | 0 |
| 30 Sep 23 | 1,628 | 531 | 784 | 0 |
| 30 Jun 23 | 1,644 | 540 | 776 | 0 |
| 31 Mar 23 | 1,627 | 536 | 765 | 0 |
| 31 Dec 22 | 1,563 | 496 | 758 | 0 |
| 30 Sep 22 | 1,510 | 459 | 752 | 0 |
| 30 Jun 22 | 1,484 | 449 | 746 | 0 |
| 31 Mar 22 | 1,492 | 429 | 743 | 0 |
| 31 Dec 21 | 1,553 | 476 | 747 | 0 |
| 30 Sep 21 | 1,539 | 455 | 752 | 0 |
| 30 Jun 21 | 1,508 | 427 | 753 | 0 |
| 31 Mar 21 | 1,183 | 243 | 682 | 0 |
| 31 Dec 20 | 902 | 121 | 579 | 0 |
| 30 Sep 20 | 716 | 83 | 473 | 0 |
| 30 Jun 20 | 521 | 40 | 372 | 0 |
| 31 Mar 20 | 617 | 166 | 342 | 0 |
| 31 Dec 19 | 635 | 186 | 338 | 0 |
| 30 Sep 19 | 634 | 186 | 336 | 0 |
| 30 Jun 19 | 630 | 182 | 334 | 0 |
| 31 Mar 19 | 632 | 181 | 330 | 0 |
| 31 Dec 18 | 645 | 179 | 336 | 0 |
| 30 Sep 18 | 632 | 132 | 325 | 0 |
| 30 Jun 18 | 607 | 120 | 309 | 0 |
| 31 Mar 18 | 576 | 112 | 296 | 0 |
| 31 Dec 17 | 537 | 88 | 277 | 0 |
| 30 Sep 17 | 505 | 109 | 263 | 0 |
| 30 Jun 17 | 488 | 102 | 256 | 0 |
| 31 Mar 17 | 469 | 95 | 246 | 0 |
| 31 Dec 16 | 442 | 101 | 235 | 0 |
| 30 Sep 16 | 448 | 103 | 234 | 0 |
| 30 Jun 16 | 444 | 100 | 230 | 0 |
| 31 Mar 16 | 440 | 100 | 228 | 0 |
| 31 Dec 15 | 437 | 99 | 227 | 0 |
| 30 Sep 15 | 433 | 95 | 226 | 0 |
| 30 Jun 15 | 424 | 89 | 225 | 0 |
Quality Earnings: SSB has high quality earnings.
Growing Profit Margin: SSB's current net profit margins (34.9%) are higher than last year (27.8%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: SSB's earnings have grown by 13.6% per year over the past 5 years.
Accelerating Growth: SSB's earnings growth over the past year (83.8%) exceeds its 5-year average (13.6% per year).
Earnings vs Industry: SSB earnings growth over the past year (83.8%) exceeded the Banks industry 22.8%.
Return on Equity
High ROE: SSB's Return on Equity (10.4%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/22 16:34 |
| End of Day Share Price | 2026/06/18 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
SouthState Bank Corporation is covered by 19 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jared David Shaw | Barclays |
| Christopher Marinac | Brean Capital Historical (Janney Montgomery) |
| Benjamin Gerlinger | Citigroup Inc |