SOUTH STATE CORP SSB Income Statement

South state corp (SSB)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Loans, including fees
535,990	534,790	534,717	531,807	526,271	521,478	497,255	461,076	424,824	389,535	357,925	339,405	322,959	308,461	309,215	311,728	313,980	315,574	318,012	316,855	316,771	319,882	323,606	323,677	298,171	268,596	231,702	199,110	187,414	174,807	169,547	166,280	165,154	162,205	156,967	150,049	0	0	0
Investment securities:
Taxable
43,267	39,949	37,770	35,875	35,372	35,563	33,994	31,750	29,722	28,165	25,343	23,006	20,463	18,025	18,100	17,897	17,242	16,110	15,487	15,363	15,538	15,758	15,361	14,694	12,793	11,073	7,350	6,928	7,702	7,577	9,818	8,948	7,819	7,641	8,148	8,865	0	0	0
Tax-exempt
6,089	6,186	6,158	6,092	6,089	6,152	6,138	5,937	5,720	5,591	5,061	4,703	4,298	3,884	4,008	4,158	4,238	4,300	4,388	4,512	4,511	4,589	4,654	4,620	4,723	4,773	6,952	5,931	4,958	3,947	769	799	833	854	905	858	0	0	0
Federal funds sold, securities purchased under agreements to resell and interest-bearing deposits with banks
9,891	9,902	8,596	7,026	4,818	4,015	3,777	3,252	2,796	2,709	2,535	2,620	2,614	2,793	2,929	2,750	2,458	2,117	1,824	1,767	1,744	1,793	1,870	1,945	1,948	1,906	1,751	1,528	1,363	1,157	916	795	877	1,018	1,122	1,175	0	0	0
Total interest income
595,237	590,827	587,241	580,800	572,550	567,208	541,164	502,015	463,062	426,000	390,864	369,734	350,334	333,163	334,252	336,533	337,918	338,101	339,711	338,497	338,564	342,022	345,491	344,936	317,635	286,348	247,755	213,497	201,437	187,488	181,050	176,822	174,683	171,718	167,142	160,947	0	0	0
Interest expense:
Deposits
63,712	65,920	66,003	62,568	55,184	45,452	34,363	24,117	16,769	12,353	9,555	7,993	6,700	5,803	6,173	6,572	6,941	7,344	7,795	8,379	8,903	9,301	9,813	10,129	9,331	8,489	7,421	6,680	7,489	8,424	9,957	11,945	14,334	17,557	21,710	24,829	0	0	0
Federal funds purchased and securities sold under agreements to repurchase
2,489	2,627	2,699	2,686	2,655	2,356	2,019	1,696	1,294	1,080	912	773	670	574	517	475	443	395	376	368	352	357	360	365	391	426	453	466	461	451	448	461	493	527	646	712	0	0	0
Other borrowings
20,015	18,005	14,328	10,419	7,201	6,184	5,684	5,074	4,402	3,581	3,085	2,730	2,358	1,940	1,883	2,037	2,208	2,589	3,648	4,504	5,366	6,004	5,989	5,727	4,887	4,072	3,129	2,444	2,330	2,219	2,238	2,239	2,212	2,182	2,248	2,388	0	0	0
Total interest expense
86,216	86,552	83,030	75,673	65,040	53,992	42,066	30,887	22,465	17,014	13,552	11,496	9,728	8,317	8,573	9,084	9,592	10,328	11,819	13,251	14,621	15,662	16,162	16,221	14,609	12,987	11,003	9,590	10,280	11,094	12,643	14,645	17,039	20,266	24,604	27,929	0	0	0
Net interest income
509,021	504,275	504,211	505,127	507,510	513,216	499,098	471,128	440,597	408,986	377,312	358,238	340,606	324,846	325,679	327,449	328,326	327,773	327,892	325,246	323,943	326,360	329,329	328,715	303,026	273,361	236,752	203,907	191,157	176,394	168,407	162,177	157,644	151,452	142,538	133,018	0	0	0
Provision for loan losses
47,822	12,777	12,954	12,043	12,817	13,783	13,857	12,802	10,637	11,890	8,705	7,555	7,969	6,819	7,023	7,186	7,603	5,864	6,518	7,534	6,559	6,590	5,097	3,665	1,675	1,886	4,108	7,493	11,956	13,619	18,466	22,745	22,318	30,236	33,507	37,693	0	0	0
Net interest income after provision for loan losses
461,199	491,498	491,257	493,084	494,693	499,433	485,241	458,326	429,960	397,096	368,607	350,683	332,637	318,027	318,656	320,263	320,723	321,909	321,374	317,712	317,384	319,770	324,232	325,050	301,351	271,475	232,644	196,414	179,201	162,775	149,941	139,432	135,326	121,216	109,031	95,325	0	0	0
Noninterest income:
Securities gains (losses), net
-	2,711	2,676	1,598	0	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bankcard services income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	18,279	15,373	14,746	14,173	13,545	12,955	12,382	11,721	11,081	10,449	0	0	0
Securities gains, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	0	0	-	-	-	-	-	-	-	0	-	323	0	0	0	-	-
Recoveries on acquired loans
-	6,847	7,352	7,189	8,009	9,117	9,305	10,011	10,015	8,572	6,982	7,245	7,076	6,465	6,009	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains on acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,529	0	0	0	-	-
Amortization of FDIC indemnification asset, net
-	-	-	-	-	-	-	-	-	-	-	-	-	5,902	21,608	19,738	13,269	8,587	32,493	29,539	25,766	21,895	-40,397	-27,947	-29,442	-29,535	-13,403	-27,651	-24,711	-20,773	-17,312	-14,204	-12,967	-10,135	-6,519	-2,437	0	0	0
Other
13,531	11,764	11,648	11,723	11,432	11,819	9,875	8,583	7,571	6,670	5,937	5,764	6,746	6,437	5,140	5,191	5,003	5,298	1,972	3,844	4,573	6,612	11,234	10,535	8,975	6,647	6,673	5,232	5,633	4,974	4,243	3,747	2,497	2,407	2,274	2,545	0	0	0
Total noninterest income
155,639	143,565	142,900	137,345	137,252	145,749	144,649	146,358	144,149	140,029	129,192	130,796	127,598	121,204	126,696	121,127	119,091	115,555	111,654	106,336	100,653	94,696	89,942	80,659	64,745	53,720	44,078	38,074	41,333	41,283	40,046	51,671	48,719	55,119	57,286	47,523	0	0	0
Noninterest expense:
Salaries and employee benefits
237,294	234,747	234,234	232,617	229,096	233,130	226,160	215,471	208,025	194,446	184,433	179,160	172,117	164,663	164,491	162,532	161,749	161,304	159,788	159,804	160,326	158,432	160,033	154,467	137,937	122,096	102,812	86,996	81,512	76,308	71,887	70,585	70,339	68,937	67,281	65,199	0	0	0
Occupancy expense
48,132	47,457	52,060	52,412	52,611	49,165	50,491	44,470	42,703	40,925	23,998	23,248	22,741	21,712	21,791	21,722	21,227	21,105	21,379	21,371	22,088	22,459	22,652	22,344	19,853	17,590	15,597	13,499	12,705	11,608	10,016	9,478	9,346	9,674	9,411	8,875	0	0	0
Information services expense
35,774	35,477	34,435	33,361	33,593	34,322	33,131	31,330	28,840	25,462	23,971	23,205	21,875	20,549	20,088	19,587	18,886	17,810	16,670	15,351	15,404	15,844	16,631	17,119	15,676	14,470	13,149	11,906	11,816	11,092	10,849	11,038	10,639	10,512	9,852	9,158	0	0	0
Furniture and equipment expense
-	-	-	17,850	-	-	-	17,042	16,400	-	14,668	14,151	13,346	12,403	11,929	11,249	10,939	11,233	11,558	12,170	12,672	13,271	13,935	14,282	13,284	12,112	10,691	9,343	9,448	9,115	8,986	8,948	8,758	8,476	8,228	8,038	0	0	0
OREO expense and loan related
3,078	3,242	3,060	2,444	2,600	3,510	3,752	5,524	6,240	6,721	7,222	7,554	6,675	6,307	6,578	7,210	8,355	9,595	10,270	10,927	10,644	11,833	13,657	13,744	14,828	13,727	12,604	13,094	12,389	12,003	13,536	13,703	14,250	14,051	11,158	7,865	0	0	0
Pension plan termination expense
-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bankcard expense
-	-	-	-	-	-	-	-	-	-	-2,420	76	2,488	2,597	11,466	10,974	10,219	9,320	8,791	8,484	8,287	8,563	8,770	8,494	7,642	6,550	5,250	4,442	4,324	4,062	0	0	0	-	-	-	-	-	-
Amortization of intangibles
12,800	13,100	13,487	13,687	14,087	14,200	13,517	12,511	11,306	10,400	9,386	8,783	8,180	7,577	7,953	8,140	8,212	8,324	8,110	8,112	8,232	8,320	8,555	8,213	7,151	6,081	4,360	3,188	2,706	2,172	2,129	2,080	2,045	1,991	1,900	1,815	0	0	0
Supplies, printing and postage expense
5,882	5,881	5,897	6,040	5,951	5,839	5,792	5,722	5,886	6,148	6,084	5,938	6,125	6,279	6,410	6,442	6,115	5,919	6,906	6,797	6,966	6,937	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Professional fees
10,579	10,325	10,611	10,307	9,424	8,883	7,073	6,200	5,901	5,975	6,676	7,169	7,146	6,702	5,819	5,444	5,453	5,533	5,279	5,577	5,107	4,960	5,488	5,136	4,781	4,210	3,453	2,767	2,739	2,681	2,342	2,076	1,960	1,776	1,937	2,176	0	0	0
FDIC assessment and other regulatory charges
5,068	4,545	4,558	6,855	8,677	8,405	7,960	6,353	4,065	3,924	3,763	3,846	3,874	3,896	4,191	4,438	4,674	4,714	5,206	5,026	5,040	5,432	5,104	5,557	5,386	5,034	4,728	4,085	4,062	3,875	3,968	3,949	4,131	4,573	4,947	5,315	0	0	0
Advertising and marketing
4,316	4,309	4,091	4,088	4,292	4,221	4,511	4,314	4,140	3,963	3,199	3,137	3,006	3,092	3,213	3,477	3,628	3,838	4,338	4,121	4,004	4,156	4,465	4,941	4,697	4,532	3,492	2,915	2,820	2,735	2,753	2,841	2,577	2,729	2,636	2,840	0	0	0
Merger and branch consolidation related expense
7,567	4,552	3,058	7,668	19,686	29,868	47,489	44,564	34,775	44,503	31,723	30,881	28,147	8,081	6,331	7,859	0	-	0	0	-	23,940	28,655	32,206	26,556	22,534	20,772	10,943	12,081	10,214	3,066	4,085	2,685	3,198	3,360	2,737	0	0	0
Other
33,620	31,493	30,568	30,575	30,322	29,375	30,540	28,775	27,164	25,900	21,685	21,161	22,162	21,331	22,170	22,505	21,274	21,449	21,661	20,325	19,382	18,891	14,964	18,024	17,331	16,794	14,732	11,085	10,284	9,799	11,456	12,389	13,100	13,820	15,652	14,170	0	0	0
Total noninterest expense
413,646	404,638	400,674	404,604	405,703	420,927	424,309	403,285	377,060	368,320	334,388	328,309	317,882	285,189	290,956	290,959	288,634	287,089	289,883	291,747	296,107	303,038	312,250	312,600	281,596	250,621	214,874	177,497	170,120	158,898	147,306	146,433	143,973	142,978	136,362	128,188	0	0	0
Earnings:
Income before provision for income taxes
203,192	230,425	233,483	225,825	226,242	224,255	205,581	201,399	197,049	168,805	163,411	153,170	142,353	154,042	154,396	150,431	151,180	150,375	143,145	132,301	121,930	111,428	101,924	93,109	84,500	74,574	61,848	56,991	50,414	45,160	42,681	44,670	40,072	33,357	29,955	14,660	0	0	0
Provision for income taxes
36,966	43,942	47,087	43,912	45,330	45,384	73,293	81,147	85,433	81,251	54,101	50,811	47,301	52,760	51,756	50,746	51,139	50,902	47,960	42,929	39,484	35,991	33,750	32,208	29,013	25,355	20,703	18,837	16,761	15,128	13,730	14,450	12,965	10,762	10,402	4,864	0	0	0
Net income
166,226	186,483	186,396	181,913	180,912	178,871	132,288	120,252	111,616	87,554	109,310	102,359	95,052	101,282	102,640	99,685	100,041	99,473	95,185	89,372	82,446	75,437	68,174	60,901	55,487	49,219	44,298	0	0	-	0	-	-	-	-	-	0	-	-
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,073	1,615	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	102,640	99,685	100,041	99,473	95,185	89,372	82,446	74,364	66,289	58,474	53,060	47,865	40,603	38,154	33,653	30,032	34,454	30,309	0	-	0	0	-	0	0
Earnings per common share:
Basic (in dollars per share)
0.72	1.46	1.51	1.18	1.25	1.37	1.28	1.10	1.15	0.03	1.20	1.09	0.63	1.01	1.17	1.02	1.02	1.06	1.05	1.04	1.00	0.89	0.81	0.75	0.66	0.50	0.53	0.75	0.63	0.37	0.61	0.55	0.51	0.35	0.75	0.36	0.19	0.14	0.05
Diluted (in dollars per share)
0.71	1.44	1.50	1.17	1.25	1.34	1.28	1.09	1.15	0.03	1.19	1.08	0.63	1.00	1.16	1.01	1.01	1.05	1.04	1.03	0.99	0.88	0.80	0.74	0.66	0.49	0.52	0.74	0.63	0.38	0.60	0.55	0.50	0.35	0.74	0.35	0.19	0.14	0.05
Dividends per common share (in dollars per share)
-	-	-	-	-	-	-	-	0.33	-	0.33	0.33	0.33	0.32	0.31	0.30	0.28	0.26	0.25	0.24	0.23	0.22	0.21	0.20	0.19	0.19	0.19	0.18	0.18	0.18	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17	0.17
Weighted average common shares outstanding:
Basic (in shares)
33,566	33,653	34,057	35,089	35,445	36,152	36,645	36,677	36,646	31,642	29,115	29,095	28,892	24,012	24,016	23,995	23,969	23,956	23,984	23,981	23,943	23,924	23,899	23,892	23,873	23,993	21,894	16,790	16,787	15,338	14,920	14,651	13,883	13,900	13,818	13,805	13,185	12,620	12,612
Diluted (in shares)
33,805	33,969	34,300	35,300	35,619	36,383	36,893	36,929	36,899	31,779	29,385	29,365	29,159	24,170	24,278	24,237	24,191	24,152	24,285	24,258	24,201	24,199	24,160	24,141	24,116	24,236	22,128	16,990	16,954	15,457	15,043	14,733	13,951	13,961	13,884	13,886	13,273	12,711	12,738
Fees on deposit accounts
Noninterest income
75,768	75,435	74,978	73,043	76,914	81,649	81,949	84,303	81,588	80,764	73,091	73,723	75,365	73,771	83,516	81,952	78,112	74,479	78,452	76,877	76,795	69,291	78,577	69,906	58,025	54,798	26,776	23,979	24,129	23,815	23,461	23,342	23,071	22,654	22,378	21,910	0	0	0
Mortgage banking income
Noninterest income
29,826	17,564	16,308	13,017	11,027	13,590	14,833	15,455	17,333	17,954	18,653	21,493	21,918	20,547	19,333	17,864	19,333	21,761	22,604	21,911	19,505	16,170	14,628	11,846	9,085	9,149	10,786	12,940	14,070	12,545	10,320	9,165	7,238	6,271	6,263	5,189	0	0	0
Trust and investment services income
Noninterest income
29,300	29,200	29,886	30,086	29,986	30,200	29,312	28,122	26,974	25,401	23,894	22,461	20,920	19,764	19,216	19,828	19,968	20,117	19,973	18,974	18,735	18,344	18,161	17,264	14,890	12,661	10,089	8,073	7,277	6,360	5,853	5,729	5,612	5,464	5,426	5,160	0	0	0