Southern States Bancshares Q1 Profit Increases

(RTTNews) - Southern States Bancshares, Inc. (SSBK) reported Monday that net income for the first quarter increased to $10.35 million or $1.03 per share from $8.12 million or $0.90 per share in the prior-year quarter.

Net interest income for the quarter was $24.88 million, up 19.4 percent from $20.84 million in the year-ago quarter. Total noninterest income grew 30.4 percent to $1.65 million from $1.27 million last year.

Provision for credit losses were $0.78 million, compared to $1.24 million last year.

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