Southern States Bancshares, Inc. (SSBK) Financial Statements (2024 and earlier)

Company Profile

Business Address 615 QUINTARD AVENUE
ANNISTON, AL 36201
State of Incorp. AL
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments181,117116,786105,458183,031117,323134,802
Cash and cash equivalents181,117116,786105,458183,031117,323134,802
Total current assets:181,117116,786105,458183,031117,323134,802
Noncurrent Assets
Operating lease, right-of-use asset   561   
Property, plant and equipment26,95727,09827,34528,58528,46728,065
Intangible assets, net (including goodwill)17,92418,00618,08818,16418,23018,296
Goodwill16,86216,86216,86216,86216,86216,862
Intangible assets, net (excluding goodwill)1,0621,1441,2261,3021,3681,434
Total noncurrent assets:44,88145,10445,99446,74946,69746,361
Other undisclosed assets2,051,8051,973,7321,893,7521,822,9451,738,4751,617,671
TOTAL ASSETS:2,277,8032,135,6222,045,2042,052,7251,902,4951,798,834
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities2,080,5531,945,9591,863,4851,882,4001,734,5481,629,645
Total liabilities:2,080,5531,945,9591,863,4851,882,4001,734,5481,629,645
Equity
Equity, attributable to parent, including:197,250189,663181,719170,325167,947169,189
Common stock43,83143,79843,71443,52943,45843,749
Additional paid in capital77,10177,05376,78575,83575,59776,426
Accumulated other comprehensive loss(10,799)(9,846)(11,048)(12,403)(8,439)(3,755)
Retained earnings88,60380,64273,76463,95658,03953,604
Other undisclosed equity, attributable to parent(1,486)(1,984)(1,496)(592)(708)(835)
Total equity:197,250189,663181,719170,325167,947169,189
TOTAL LIABILITIES AND EQUITY:2,277,8032,135,6222,045,2042,052,7251,902,4951,798,834

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues32,1405141501,135480445
Gain (loss) on disposition of assets for financial service operations(45)514    
Net investment income32,185  1,135390188
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(1,557)(1,181)(1,938)(1,663)(1,304)(700)
Gross profit:30,583(667)(1,788)(528)(824)(255)
Operating expenses(646)(593)(2,444)   
Other operating income, net
(Noninterest Income, Other Operating Income)
9245925,936   
Operating income (loss):30,861(668)1,704(528)(824)(255)
Interest and debt expense(12,753)(9,153)(5,822)(3,085)(1,387)(1,218)
Income (loss) from continuing operations before equity method investments, income taxes:18,108(9,821)(4,118)(3,613)(2,211)(1,473)
Other undisclosed income (loss) from continuing operations before income taxes(6,803)19,81446,558   
Income (loss) from continuing operations before income taxes:11,3059,99342,440(3,613)(2,211)(1,473)
Income tax expense(2,549)(2,322)(2,521)(2,174)(1,590)(1,440)
Income (loss) from continuing operations:8,7567,67139,919(5,787)(3,801)(2,913)
Loss before gain (loss) on sale of properties:(5,787)(3,801)(2,913)
Net income (loss):8,7567,67139,919(5,787)(3,801)(2,913)
Other undisclosed net income (loss) attributable to parent   (29,327)12,4879,0247,470
Net income available to common stockholders, basic:8,7567,67110,5926,7005,2234,557
Other undisclosed net loss available to common stockholders, diluted(6)(7)(4)(7)(8)(8)
Net income available to common stockholders, diluted:8,7507,66410,5886,6935,2154,549

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):8,7567,67139,919(5,787)(3,801)(2,913)
Comprehensive income (loss):8,7567,67139,919(5,787)(3,801)(2,913)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(953)1,202(27,972)8,5234,3401,602
Comprehensive income (loss), net of tax, attributable to parent:7,8038,87311,9472,736539(1,311)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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