U.S. Markets closed

South State: 1Q Earnings Snapshot

COLUMBIA, S.C. (AP) _ South State Corp. (SSB) on Monday reported first-quarter profit of $44.4 million.

The Columbia, South Carolina-based bank said it had earnings of $1.25 per share. Earnings, adjusted for non-recurring costs, were $1.26 per share.

The results matched Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of $1.26 per share.

The bank holding company posted revenue of $175.4 million in the period. Its revenue net of interest expense was $155.3 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $158.9 million.

South State shares have climbed 27% since the beginning of the year. In the final minutes of trading on Monday, shares hit $76, a fall of 14% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SSB at https://www.zacks.com/ap/SSB