SouthState's Q1 adjusted net income tops estimates

SouthState Bank

23/04/2026 21:13

Overview

U.S. regional bank's Q1 adjusted net income beat analyst expectations, adjusted EPS up 6% yr/yr

Loans rose 7% and deposits grew 5% annualized in Q1

Company declared a quarterly dividend of $0.60 per share

Outlook

Company did not provide specific guidance for future quarters or full-year results

Result Drivers

LOAN AND DEPOSIT GROWTH - Loans increased 7% and deposits grew 5% annualized in Q1, per CEO John C. Corbett

CORRESPONDENT BANKING - Noninterest income rose, driven primarily by correspondent banking and capital markets income

ASSET QUALITY - Asset quality remains strong, with annualized net charge-offs of just 9 basis points

Company press release: ID:nPnbSfC8ca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$2.28
Q1 Adjusted Net Income
Beat
$225.82 mln
$219.18 mln (12 Analysts)
Q1 Net Income
$225.82 mln
Q1 Net Interest Income
$561.61 mln
Q1 Credit Loss Provision
$10.81 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for SouthState Bank Corp is $120.00, about 23% above its April 22 closing price of $97.55

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)