Southern States Bancshares Reports Strong Q3 2024 Growth

Southern States Bancshares ( (SSBK) ) has shared an update.

Southern States Bancshares, Inc. reported a strong third quarter for 2024, highlighted by a 12.4% increase in net interest income to $24.2 million, largely due to the acquisition of Century Bank. The net interest margin rose to 3.65%, reflecting improved asset yields and lower deposit costs. The company’s strategic growth in loans and deposits, alongside recognition in Piper Sandler’s Sm-All Stars, underscores its robust financial health and commitment to enhancing shareholder value. Core net income was reported at $8.7 million, or $0.89 per diluted share.

For a thorough assessment of SSBK stock, go to TipRanks’ Stock Analysis page.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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