South State reports Q1 adjusted EPS $1.58, consensus $1.55

Reports Q1 Net Interest Margin, non-tax equivalent of 3.40% and tax equivalent or Non-GAAP of 3.41% vs. 3.40% and 3.41% respectively, last year. “In the midst of a transition year for the US economy, SouthState produced first quarter revenue and earnings per share in line with our guidance,” commented CEO John Corbett. “Loans and deposits grew in the low-single digit percent range and asset quality remains stable with strong reserves. Our markets are resilient, and people are migrating to the South as an attractive place to live and grow a business.”