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South State posts 4Q profit

COLUMBIA, S.C. (AP) _ South State Corp. (SSB) on Tuesday reported fourth-quarter earnings of $2.4 million.

The bank, based in Columbia, South Carolina, said it had earnings of 8 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.30 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.

The bank holding company posted revenue of $156.9 million in the period. Its adjusted revenue was $151.4 million.

For the year, the company reported profit of $87.6 million, or $2.93 per share. Revenue was reported as $558.1 million.

South State shares have climbed nearly 4 percent since the beginning of the year. The stock has risen 4 percent 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