South State: 4Q Earnings Snapshot
COLUMBIA, S.C. (AP) _ South State Corp. (SSB) on Monday reported fourth-quarter net income of $49 million.
The Columbia, South Carolina-based bank said it had earnings of $1.35 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.32 per share.
The bank holding company posted revenue of $179.5 million in the period. Its revenue net of interest expense was $162 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $160.8 million.
For the year, the company reported profit of $178.9 million, or $4.86 per share. Revenue was reported as $659 million.
South State shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $66.52, a drop of 25 percent in the last 12 months.