Southern States Bancshares

Southern States Bancshares, Inc. is a bank holding company, which engages in the provision of community banking services. The firm offers deposit, loan, and other banking-related products and services to businesses and individuals through its subsidiary Southern States Bank. The company was founded on August 23, 2007 and is headquartered in Anniston, AL.

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Southern States Bancshares, Inc. (SSBK) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Will Southern States Bancshares, Inc. (SSBK) Gain on Rising Earnings Estimates?

Southern States Bancshares, Inc. (SSBK) delivered earnings and revenue surprises of 15.69% and 5.77%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Southern States Bancshares, Inc. (SSBK) Surpasses Q2 Earnings and Revenue Estimates

Southern States Bancshares, Inc. Announces Second Quarter 2022 Financial Results

ANNISTON, Ala., June 22, 2022 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States” or the “Company”) announced today that it has extended its registered exchange offer to exchange up to $48,000,000 aggregate principal amount of 3.50% Fixed-to-Floating Rate Subordinated Notes due 2032 that have been registered under the Securities Act of 1933, as amended, for any and all outstanding unregistered 3.50% Fixed-to-Floating Rate Subordinated Notes due 2032, which were issued in a private placement on February 7, 2022.

Southern States Bancshares, Inc. Announces Extension of Exchange Offer for 3.50% Fixed-to-Floating Rate Subordinated Notes due 2032

Southern States Bancshares, Inc. (SSBK) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Southern States Bancshares, Inc. (SSBK) Moves to Strong Buy: Rationale Behind the Upgrade

TALLADEGA, Ala. and ANNISTON, Ala., May 23, 2022 (GLOBE NEWSWIRE) -- Talladega-based First Bank of Alabama (“FBA”), subsidiary of FirstBanc of Alabama, Inc. and Anniston-based Southern States Bank (“Southern States”), subsidiary of Southern States Bancshares, Inc. (NASDAQGS: SSBK) announced today that they have entered into an agreement whereby FBA will acquire the Heflin, AL and Ranburne, AL branches of Southern States. Under the terms of the agreement FBA will acquire the physical locations and most of the loan and deposit accounts associated with the branches. The branches are located at 654 Ross Street, Heflin, AL 36264 and 21044 Main Street, Ranburne, AL 36273.

First Bank of Alabama to Acquire Branches from Southern States Bank

Southern States Bancshares, Inc. Announces First Quarter 2022 Financial Results

ANNISTON, Ala., March 16, 2022 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States” or the “Company”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), and Stephen Whatley, Chairman and CEO of Southern States Bancshares, today announced the appointment of Mark Chambers to the board of directors of the Company and the Bank. In addition to continuing to serve as President of both the Company and the Bank, Mr. Chambers was appointed CEO of the Bank.

Southern States Bancshares, Inc. Announces Appointment of Mark Chambers as Director and CEO of Southern States Bank

ANNISTON, Ala., Feb. 16, 2022 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States” or the “Company”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), announced today that its Board of Directors has approved a stock repurchase program (the “Program”) that authorizes the Company to repurchase up to $10.0 million of its common stock.

Southern States Bancshares, Inc. Announces $10.0 million Stock Repurchase Program

ANNISTON, Ala., Feb. 07, 2022 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), announced today the completion of a private placement of $48 million in aggregate principal amount of 3.50% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “Notes”) to certain qualified institutional buyers and accredited investors.

Southern States Bancshares, Inc. Announces Completion of $48 Million Subordinated Notes Offering

Southern States Bancshares, Inc. Announces Fourth Quarter 2021 Financial Results

Southern States Bancshares, Inc. Announces Third Quarter 2021 Financial Results

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ANNISTON, Ala., Aug. 19, 2021 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), announced today that the underwriters for Southern States' initial public offering exercised in full their option to purchase 300,000 additional shares of common stock from Southern States at the initial public offering price of $19.00 per share, less underwriting discounts and commissions. The closing of the over-allotment option occurred today, and as a result, Southern States received a total of approximately $21.1 million in the initial public offering, after deducting underwriting discounts and commissions and estimated offering expenses.

Southern States Bancshares Announces Exercise and Closing of Over-Allotment Option for Initial Public Offering

ANNISTON, Ala., Aug. 16, 2021 (GLOBE NEWSWIRE) --  Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), announced today the closing of its initial public offering of 996,429 shares of common stock by Southern States and 1,003,571 shares of common stock by certain selling stockholders, at a price to the public of $19.00 per share. Southern States received net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, of approximately $15.8 million. Southern States expects to use the net proceeds for general corporate purposes, including capital and liquidity to support its growth, and potential acquisitions of banks or closely related businesses. Southern States did not receive proceeds from the selling stockholders' sale of common stock. Southern States' common stock began trading on The NASDAQ Global Select Market under the symbol “SSBK” on Thursday, August 12, 2021.

Southern States Bancshares Announces Closing of Initial Public Offering

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ANNISTON, Ala., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (“Southern States”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), announced today the pricing of its initial public offering of 996,429 shares of common stock offered by Southern States and 1,003,571 shares of common stock offered by certain selling stockholders, at a price to the public of $19.00 per share, resulting in estimated net proceeds to Southern States, after deducting underwriting discounts and commissions and estimated offering expenses, of approximately $15.8 million. Southern States' common stock is expected to begin trading on The NASDAQ Global Select Market under the symbol “SSBK” on Thursday, August 12, 2021. The offering is expected to close on or about August 16, 2021, subject to the satisfaction of customary closing conditions.

Southern States Bancshares Announces Pricing of Initial Public Offering

Southern States Bancshares Readies $40 Million IPO

ANNISTON, Ala., July 30, 2021 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (“Southern States”), the holding company for Southern States Bank, an Alabama state-charted commercial bank (the “Bank”), announced today that it has commenced an initial public offering of 996,429 shares of common stock to be offered by Southern States and 1,003,571 shares of common stock to be offered by certain selling stockholders. The initial public offering price is expected to be between $19.00 and $21.00 per share, and Southern States expects to grant the underwriters a 30-day option to purchase up to an additional 300,000 shares of common stock from it at the initial public offering price, less underwriting discounts and commissions. Southern States expects to list its common stock on the Nasdaq Global Select Market under the trading symbol “SSBK.”

Southern States Bancshares Announces Launch of Initial Public Offering

News for Southern States Bancshares Stock (SSBK)