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1. Company Snapshot

1.a. Company Description

Southern States Bancshares, Inc.operates as the bank holding company for Southern States Bank that provides community banking services to businesses and individuals.It offers various deposit products, such as savings, money market, and noninterest-bearing demand accounts; certificates of deposit; and time deposits.


The company also provides real estate loan products, which include loans for real estate construction and development, residential mortgages, and commercial real estate mortgage loans; commercial and industrial loans; and direct consumer installment loans, overdrafts, and other revolving credit loans.In addition, it offers online and mobile banking, and ATM services.The company operates 15 offices in Alabama and Georgia, as well as a loan production office in Atlanta, Georgia.


Southern States Bancshares, Inc.was founded in 2007 and is headquartered in Anniston, Alabama.

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1.b. Last Insights on SSBK

Southern States Bancshares, Inc.'s recent performance was driven by strong Q3 2024 financial results, with net income of $7.4 million, or $0.76 per diluted share, and core net income of $8.7 million, or $0.89 per diluted share. The company's net interest income increased by $2.7 million from the prior quarter, and its net interest margin rose to 3.65%. Additionally, the company's return on average assets and return on average stockholders' equity were 1.05% and 11.89%, respectively. Furthermore, the company declared a quarterly cash dividend of $0.09 per share, providing value to shareholders.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Private Capital's Strategic Moves: Spotlight on Matthews International Corp

Nov -14

Source: gurufocus.com

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FB Financial Announces Closing of Merger with Southern States Bancshares, Inc.

Jul -01

Source: businesswire.com

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FB Financial and Southern States Receive Final Regulatory Approvals for Merger

Jun -12

Source: businesswire.com

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SSBK Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of Southern States Bancshares, Inc. Is Fair to Shareholders

Apr -21

Source: businesswire.com

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Southern States Bancshares, Inc. Announces First Quarter 2025 Financial Results

Apr -21

Source: globenewswire.com

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$HAREHOLDER ALERT: The M&A Class Action Firm Investigates the Merger of Southern States Bancshares, Inc. - SSBK

Mar -31

Source: prnewswire.com

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Shareholder Alert: The Ademi Firm Investigates Whether Southern States Bancshares, Inc. Is Obtaining a Fair Price for Its Public Shareholders

Mar -31

Source: businesswire.com

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FB Financial to Expand in Alabama and Georgia by Merger With Southern States

Mar -31

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (14.00%)

6. Segments

Banking and Related Activities

Expected Growth: 14%

Southern States Bancshares, Inc.'s 14% growth in Banking and Related Activities is driven by strategic expansion into underserved markets, increased adoption of digital banking platforms, and a focus on commercial lending. Additionally, the company's strong risk management practices and efficient cost structure have enabled it to maintain a high net interest margin, contributing to its growth momentum.

7. Detailed Products

Commercial Banking

Southern States Bancshares, Inc. offers a range of commercial banking services, including cash management, treasury management, and commercial lending, to help businesses manage their finances and achieve their goals.

Retail Banking

The company provides retail banking services, including checking and savings accounts, credit cards, and personal loans, to individuals and families.

Mortgage Lending

Southern States Bancshares offers mortgage lending services, including residential and commercial mortgage loans, to help individuals and businesses finance their property purchases.

Wealth Management

The company provides wealth management services, including investment management, trust services, and financial planning, to help individuals and families achieve their long-term financial goals.

Treasury Management

Southern States Bancshares offers treasury management services, including cash management, wire transfers, and account reconciliation, to help businesses optimize their cash flow and minimize risk.

8. Southern States Bancshares, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Southern States Bancshares, Inc. is moderate due to the presence of alternative financial institutions and digital banking platforms.

Bargaining Power Of Customers

The bargaining power of customers is low for Southern States Bancshares, Inc. as customers have limited negotiating power and the bank has a strong brand presence.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate for Southern States Bancshares, Inc. as the bank relies on a network of suppliers for its operations, but has some negotiating power due to its size.

Threat Of New Entrants

The threat of new entrants is high for Southern States Bancshares, Inc. due to the ease of entry into the banking industry and the presence of fintech companies.

Intensity Of Rivalry

The intensity of rivalry is high for Southern States Bancshares, Inc. due to the presence of several established banks and financial institutions in the market.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 46.10%
Debt Cost 4.72%
Equity Weight 53.90%
Equity Cost 4.86%
WACC 4.80%
Leverage 85.53%

11. Quality Control: Southern States Bancshares, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Richmond Mutual Bancorporation

A-Score: 7.2/10

Value: 7.6

Growth: 8.1

Quality: 5.1

Yield: 8.0

Momentum: 7.5

Volatility: 7.0

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Southern States Bancshares

A-Score: 6.9/10

Value: 6.8

Growth: 8.1

Quality: 7.6

Yield: 2.0

Momentum: 8.0

Volatility: 8.7

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Univest Financial

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Value: 7.2

Growth: 5.0

Quality: 6.5

Yield: 6.0

Momentum: 6.0

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Bank of the James Financial

A-Score: 5.6/10

Value: 3.1

Growth: 5.6

Quality: 4.4

Yield: 5.0

Momentum: 8.5

Volatility: 7.3

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First US Bancshares

A-Score: 5.1/10

Value: 6.9

Growth: 5.3

Quality: 4.2

Yield: 4.0

Momentum: 6.5

Volatility: 4.0

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Codorus Valley

A-Score: 5.1/10

Value: 7.1

Growth: 6.0

Quality: 7.4

Yield: 2.0

Momentum: 5.0

Volatility: 3.3

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

36.37$

Current Price

36.37$

Potential

-0.00%

Expected Cash-Flows