Financial Services - Banks - Regional - NASDAQ - US
$ 36.63
0.164 %
$ 327 M
Market Cap
10.44
P/E
Southern States Bancshares, Inc. operates as the bank holding company for Southern States Bank that provides community banking services to businesses and individuals. It offers various deposit products, such as savings, money market, and noninterest-bearing demand accounts; certificates of deposit; and time deposits. The company also provides real estate loan products, which include loans for real estate construction and development, residential mortgages, and commercial real estate mortgage loans; commercial and industrial loans; and direct consumer installment loans, overdrafts, and other revolving credit loans. In addition, it offers online and mobile banking, and ATM services. The company operates 15 offices in Alabama and Georgia, as well as a loan production office in Atlanta, Georgia.[ Read More ]
The intrinsic value of one SSBK stock under the base case scenario is HIDDEN Compared to the current market price of 36.6 USD, Southern States Bancshares, Inc. is HIDDEN
2. FUNDAMENTAL
ANALYSIS
Price Chart SSBK
FINANCIALS
82.9 M
REVENUE
51.9 M
OPERATING INCOME
32 M
NET INCOME
38.8 M
OPERATING CASH FLOW
-319 M
INVESTING CASH FLOW
362 M
FINANCING CASH FLOW
46.8 M
REVENUE
11.2 M
OPERATING INCOME
7.35 M
NET INCOME
9.96 M
OPERATING CASH FLOW
114 M
INVESTING CASH FLOW
-84.6 M
FINANCING CASH FLOW
Balance Sheet Decomposition
Southern States Bancshares, Inc.
| Current Assets | 251 M |
| Cash & Short-Term Investments | 251 M |
| Receivables | 8.71 M |
| Other Current Assets | -8.71 M |
| Non-Current Assets | 2.2 B |
| Long-Term Investments | 202 M |
| PP&E | 26.4 M |
| Other Non-Current Assets | 1.97 B |
| Current Liabilities | 0 |
| Accounts Payable | 1.52 M |
| Short-Term Debt | 58 M |
| Other Current Liabilities | -59.5 M |
| Non-Current Liabilities | 2.23 B |
| Long-Term Debt | 126 M |
| Other Non-Current Liabilities | 2.11 B |
EFFICIENCY
Earnings Waterfall
Southern States Bancshares, Inc.
| Revenue | 82.9 M |
| Cost Of Revenue | 0 |
| Gross Profit | 82.9 M |
| Operating Expenses | 31 M |
| Operating Income | 51.9 M |
| Other Expenses | 20 M |
| Net Income | 32 M |
RATIOS
100.00%
GROSS MARGIN
62.64%
OPERATING MARGIN
38.54%
NET MARGIN
14.86%
ROE
1.31%
ROA
10.15%
ROIC
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
Southern States Bancshares, Inc.
| Net Income | 32 M |
| Depreciation & Amortization | 1.5 M |
| Capital Expenditures | -249 K |
| Stock-Based Compensation | 870 K |
| Change in Working Capital | 1.93 M |
| Others | 7.38 M |
| Free Cash Flow | 38.5 M |
Wall Street Analysts Price Targets
Southern States Bancshares, Inc.
SSBK has no price targets from Wall Street.
4. DIVIDEND ANALYSIS
0.27%
DIVIDEND YIELD
0.09 USD
DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership
Southern States Bancshares, Inc.
Sold
0-3 MONTHS
159 K USD 2
3-6 MONTHS
289 K USD 2
6-9 MONTHS
46.3 K USD 1
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
3.43 K USD 1
6-9 MONTHS
0 USD 0
9-12 MONTHS
| Date | Value | Insider | Amount | Avg Price |
|---|---|---|---|---|
|
2 months ago
Aug 30, 2024
|
Sell 62.3 K USD
|
Hitson Brent O.
Director |
- 2000
|
31.17 USD |
|
2 months ago
Aug 26, 2024
|
Sell 96.2 K USD
|
Pumroy Jay F.
Director |
- 2995
|
32.13 USD |
|
3 months ago
Jul 26, 2024
|
Sell 191 K USD
|
Hitson Brent O.
Director |
- 5747
|
33.22 USD |
|
3 months ago
Jul 26, 2024
|
Sell 34.2 K USD
|
JOYCE LYNN J
Chief Financial Officer |
- 1000
|
34.25 USD |
|
3 months ago
Jul 24, 2024
|
Sell 64.3 K USD
|
JOYCE LYNN J
Chief Financial Officer |
- 2000
|
32.15 USD |
|
8 months ago
Mar 11, 2024
|
Sell 46.3 K USD
|
Smith Gregory B.
Chief Risk Officer |
- 1780
|
26 USD |
|
8 months ago
Mar 01, 2024
|
Bought 3.43 K USD
|
Hitson Brent O.
Director |
+ 143
|
24.02 USD |
|
1 year ago
Jun 15, 2023
|
Bought 2.2 K USD
|
Pumroy Jay F.
Director |
+ 100
|
21.96 USD |
|
1 year ago
Jun 15, 2023
|
Bought 2.21 K USD
|
Pumroy Jay F.
Director |
+ 100
|
22.1 USD |
|
1 year ago
May 12, 2023
|
Bought 10.2 K USD
|
Hinton Jonathan
Director |
+ 500
|
20.44 USD |
|
1 year ago
May 08, 2023
|
Bought 20.6 K USD
|
Hunsaker Christine
Director |
+ 1000
|
20.6 USD |
|
1 year ago
May 04, 2023
|
Bought 25 K USD
|
McCarty Cynthia S.
Director |
+ 1203
|
20.77 USD |
|
1 year ago
Mar 02, 2023
|
Sell 54.2 K USD
|
Whatley Stephen W.
Chief Executive Officer |
- 1900
|
28.55 USD |
|
1 year ago
Feb 24, 2023
|
Sell 2.95 K USD
|
JOYCE LYNN J
Chief Financial Officer |
- 100
|
29.5 USD |
|
1 year ago
Feb 23, 2023
|
Sell 4.13 K USD
|
JOYCE LYNN J
Chief Financial Officer |
- 140
|
29.5 USD |
|
1 year ago
Feb 22, 2023
|
Sell 146 K USD
|
JOYCE LYNN J
Chief Financial Officer |
- 5000
|
29.25 USD |
|
1 year ago
Feb 22, 2023
|
Sell 100 K USD
|
Swift James Walker
Chief Operating Officer |
- 3453
|
29.09 USD |
|
1 year ago
Feb 14, 2023
|
Sell 102 K USD
|
Smith Gregory B.
Chief Risk Officer |
- 3436
|
29.68 USD |
|
2 years ago
Sep 07, 2022
|
Bought 12.1 K USD
|
McCarty Cynthia S.
director: |
+ 460
|
26.29 USD |
|
2 years ago
Aug 05, 2022
|
Bought 1.3 K USD
|
Hitson Brent O.
director: |
+ 56
|
23.2 USD |
|
3 years ago
Nov 04, 2021
|
Bought 4.88 K USD
|
Smith J. Henry IV
Director |
+ 245
|
19.9 USD |
|
3 years ago
Nov 04, 2021
|
Bought 4.87 K USD
|
Smith J. Henry IV
Director |
+ 245
|
19.86 USD |
|
3 years ago
Nov 04, 2021
|
Bought 4.77 K USD
|
Smith J. Henry IV
Director |
+ 240
|
19.86 USD |
|
3 years ago
Oct 26, 2021
|
Bought 10 K USD
|
McCarty Cynthia S.
Director |
+ 520
|
19.29 USD |
|
3 years ago
Aug 17, 2021
|
Bought 47.5 K USD
|
Smith J. Henry IV
Director |
+ 2500
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Bought 23.8 K USD
|
Swift James Walker
Chief Operating Officer |
+ 1250
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Bought 19 K USD
|
Pumroy Jay F.
Director |
+ 1000
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Bought 19 K USD
|
Hitson Brent O.
Director |
+ 1000
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Sell 4.42 M USD
|
LYNCH JAMES J
Director |
- 250000
|
17.67 USD |
|
3 years ago
Aug 11, 2021
|
Bought 47.5 K USD
|
Smith J. Henry IV
Director |
+ 2500
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Bought 1.42 M USD
|
Whatley Stephen W.
Chief Executive Officer |
+ 75000
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Bought 23.8 K USD
|
JOYCE LYNN J
Chief Financial Officer |
+ 1250
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Bought 23.8 K USD
|
Smith Gregory B.
Chief Risk Officer |
+ 1250
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Bought 23.8 K USD
|
Chambers Mark
President |
+ 1250
|
19 USD |
|
3 years ago
Aug 11, 2021
|
Bought 475 K USD
|
Holmes Brian Stacey
Director |
+ 25000
|
19 USD |
7. News
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.
globenewswire.com
- 3 weeks 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.
globenewswire.com
- 1 month 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.
globenewswire.com
- 3 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.
globenewswire.com
- 3 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.
globenewswire.com
- 4 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.
globenewswire.com
- 6 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.
globenewswire.com
- 7 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.
globenewswire.com
- 7 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.
globenewswire.com
- 8 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.
globenewswire.com
- 9 months ago
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.
globenewswire.com
- 10 months ago
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.
globenewswire.com
- 10 months ago
8. Profile Summary
Southern States Bancshares, Inc. SSBK
COUNTRY
US
INDUSTRY
Banks - Regional
MARKET CAP
$ 327 M
Dividend Yield
0.27%
Description
Southern States Bancshares, Inc. operates as the bank holding company for Southern States Bank that provides community banking services to businesses and individuals. It offers various deposit products, such as savings, money market, and noninterest-bearing demand accounts; certificates of deposit; and time deposits. The company also provides real estate loan products, which include loans for real estate construction and development, residential mortgages, and commercial real estate mortgage loans; commercial and industrial loans; and direct consumer installment loans, overdrafts, and other revolving credit loans. In addition, it offers online and mobile banking, and ATM services. The company operates 15 offices in Alabama and Georgia, as well as a loan production office in Atlanta, Georgia. Southern States Bancshares, Inc. was founded in 2007 and is headquartered in Anniston, Alabama.
Contact
615 Quintard Avenue, Anniston, AL, 36201
https://southernstatesbank.net
IPO Date
Aug. 12, 2021
Employees
181
Officers
Mr. Garnet Reynolds
President of Coweta & Fayette Counties, GA
Mr. Mark A. Chambers
Chief Executive Officer, President & Director
Warren Giardina
President of Jefferson and Shelby Counties
Ms. Kelly M. Parkinson
Corporate Secretary
Mr. Gregory B. Smith
Senior EVice President & Chief Risk Officer
Mr. Jason Alderman
President of Calhoun County, AL
Ms. Lynn J. Joyce
Senior EVice President & Chief Financial Officer