SouthState Bank (SSB) Q3 2025 earnings summary

Executive summary

• Diluted EPS rose 30% year-over-year to $2.42, with adjusted EPS at $2.58 and net income of $246.6 million, reflecting strong operational performance and the completed Independent Financial acquisition.

• Revenue for Q3 2025 was $699 million, up 5% sequentially, and pre-provision net revenue per share grew 43% year-over-year.

• Loans and deposits both increased by 3% quarter-over-quarter, with average balances up 5%.

• Return on average tangible common equity reached 19.6%, with adjusted return at 20.8%.

• Board declared a quarterly cash dividend of $0.60 per share, payable November 14, 2025.

Financial highlights

• Net interest income for Q3 2025 was $600 million, up $22 million from Q2, with net interest margin at 4.05% (non-tax equivalent) and 4.06% (tax equivalent).

• Noninterest income reached $99.1 million, up from $87 million, mainly from correspondent banking and capital markets.

• Efficiency ratio improved to 50%, with adjusted efficiency ratio at 47%.

• Net charge-offs were $32.2 million (0.27% of average loans), primarily due to a single credit event; year-to-date net charge-offs at 12 bps.

• Tangible book value per share increased to $54.48, over $3 above year-end 2024.

Outlook and guidance

• Management expects continued integration of Independent Bank Group to drive further cost synergies and ongoing balance sheet and fee income growth.

• Loan growth is expected to continue, supported by organic expansion and acquired portfolios, with mid-single-digit growth for the remainder of 2025 and potentially higher in 2026.

• Net interest margin guidance for 2026 is $3.80-$3.90, factoring in multiple rate cuts.

• Noninterest income run rate for 2026 projected at $370-$380 million.

• Economic outlook remains cautious, with scenario weightings reflecting downside risks and higher uncertainty.