The EPS miss and NIM compression from declining accretion income are the key negatives, but strong organic loan/deposit growth and stable credit quality provide a floor. Watch the Oct 22 conference call for commentary on deposit cost trajectory and whether the efficiency ratio can stabilize below 52%.
Price Chart
Executive Summary
SouthState Bank Corp (SSB) reported Q3 2026 GAAP diluted EPS of $2.30, missing the consensus estimate of $2.41 by -4.6%, with net income of $224M vs $247M in the year-ago quarter. Net interest income grew 3% QoQ to $592M on strong balance sheet growth (loans +9% annualized, deposits +9% annualized), but the NIM compressed to 3.77% (non-TE) from 3.85% in Q4 2025 and 4.05% a year ago, driven by declining loan accretion income ($27M vs $83M YoY). Noninterest expense rose $17M QoQ on higher salaries, and the efficiency ratio ticked up to 52%. The dividend was raised 10% to $0.66/share, and the company repurchased 250K shares at $104.45. The EPS miss and margin compression are the headline negatives, partially offset by robust organic growth and capital returns.
Key Financial Metrics
Key Facts
- GAAP diluted EPS $2.30 missed consensus $2.41 (-4.6%)
- Net income $224M vs $247M in Q3 2025 (-9.3% YoY)
- Net interest income $592M, +3% QoQ but NIM compressed to 3.77% from 4.05% YoY
- Loan accretion income fell to $27M from $83M YoY
- Noninterest expense $375M, +$17M QoQ on higher salaries and incentives
- Loans +9% annualized QoQ, deposits +9% annualized QoQ
- Net charge-offs stable at 0.09% of avg loans
- Dividend raised 10% to $0.66/share; 250K shares repurchased at $104.45
- Tangible book value per share +7% YoY to $58.19
Financial Impact
EPS miss of $0.11 (-4.6%) vs consensus; net income down $23M YoY; NIM compression of 28bp YoY
Risk Factors
- Further NIM compression as loan accretion income continues to decline
- Rising deposit costs (1.80% vs 1.76% prior quarter) pressuring margins
- Noninterest expense growth outpacing revenue growth
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-427824 |
| Document: ssb-20261021.htm | 0001193125-26-427824 |
| Document: ssb-ex99_2.htm | 0001193125-26-427824 |
| Document: 0001193125-26-427824-index-headers.html | 0001193125-26-427824 |
| Document: 0001193125-26-427824-index.html | 0001193125-26-427824 |
| Document: 0001193125-26-427824.txt | 0001193125-26-427824 |
| 8-K Data (Synthetic) | 0001193125-26-427824 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 144 | $105.40 | awaiting T+1 | — | $105.40 (+0.00%) |
Oct 21, 2026 5d ago | 8-K | $105.22 $105.51 | ▼ −0.28% | ▼ −0.80% | $105.40 (−0.17%) |
Oct 21, 2026 5d ago | Press Release | $105.22 $105.51 | ▼ −0.28% | ▼ −0.80% | $105.40 (−0.17%) |
Oct 2, 2026 24d ago | 8-K | $101.91 $101.13 | ▼ −0.77% | ▼ −1.44% | $105.40 (+3.42%) |
Jul 23, 2026 13w ago | Press Release | $106.00 $105.16 | ▼ −0.79% | ▼ −0.81% | $105.40 (−0.57%) |
Jul 13, 2026 15w ago | 8-K | $100.44 $100.68 | ▲ +0.24% | ▼ −0.12% | $105.40 (+4.94%) |
Jul 6, 2026 16w ago | 8-K | $100.84 $99.83 | ▼ −1.00% | ▼ −0.53% | $105.40 (+4.52%) |
Jul 6, 2026 16w ago | Press Release | $100.84 $99.83 | ▼ −1.00% | ▼ −0.53% | $105.40 (+4.52%) |
Apr 23, 2026 26w ago | 8-K | $94.28 $97.84 | ▼ −3.78% | ▼ −3.62% | $105.40 (−11.80%) |
Apr 3, 2026 29w ago | 8-K | $93.57 $94.01 | ▲ +0.47% | ▲ +0.41% | $105.40 (+12.64%) |
US Market Status
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