Southern States Bancshares
SSBK

$33

1.52%

Market Cap: 294M

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

Financials State Commercial Banks

0

Funds holding %

of 6,702 funds

–

Analysts bullish %

–

News positive %

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

0% more funds holding in top 10

Funds holding in top 10: 2 [Q4 2023] → 2 (+0) [Q1 2024]

2% less funds holding

Funds holding: 54 [Q4 2023] → 53 (-1) [Q1 2024]

2.19% less ownership

Funds ownership: 54.36% [Q4 2023] → 52.17% (-2.19%) [Q1 2024]

15% less capital invested

Capital invested by funds: $141M [Q4 2023] → $120M (-$20.8M) [Q1 2024]

20% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 5

20% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 20

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Research analyst outlook

2 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$35

6%

upside

Avg. target

$36

8%

upside

High target

$36

9%

upside

2 analyst ratings

2 positive

100%

0 neutral

0%

0 negative

0%

Keefe, Bruyette & Woods Catherine Mealor	9%upside $36	Outperform Reiterated	23 Jul 2024
Keefe, Bruyette & Woods Catherine Mealor	6%upside $35	Outperform Upgraded	15 Mar 2024

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Financial journalist opinion

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.

Southern States Bancshares, Inc. Announces Second Quarter 2024 Financial Results

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.

Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 Per Share

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.

Southern States Bancshares, Inc. Announces First Quarter 2024 Financial Results

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.

Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 Per Share

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.

Southern States Bancshares Announces Retirement of COO Jack Swift

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.

Southern States Bancshares to Enhance Georgia Franchise With Acquisition of CBB Bancorp

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.

Southern States Bancshares, Inc. Announces Fourth Quarter 2023 Financial Results

Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 Per Share

ANNISTON, Ala., Jan. 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 February 15, 2024 to shareholders of record as of February 2, 2024.

Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 Per Share

Southern States Bancshares, Inc. Announces Renewal of $10.0 Million Stock Repurchase Program

ANNISTON, Ala., Dec. 20, 2023 (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 that its Board of Directors has approved the renewal of the Company's $10.0 million stock repurchase program, which currently expires on December 31, 2023. The renewed stock repurchase program (the “Program”) authorizes the Company to repurchase up to $10.0 million of its common stock from January 1, 2024 through December 31, 2024.

Southern States Bancshares, Inc. Announces Renewal of $10.0 Million Stock Repurchase Program

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