SSB Bancorp (SSB Bancorp) Credit Losses Provision : $0.67 Mil (As of Mar. 2024)

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What is SSB Bancorp Credit Losses Provision?

SSB Bancorp's credit losses provision for the three months ended in Mar. 2024 was $0.13 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was $0.67 Mil.

SSB Bancorp's quarterly credit losses provision increased from Sep. 2023 ($0.19 Mil) to Dec. 2023 ($0.24 Mil) but then declined from Dec. 2023 ($0.24 Mil) to Mar. 2024 ($0.13 Mil).

SSB Bancorp's annual credit losses provision increased from Dec. 2019 ($0.17 Mil) to Dec. 2022 ($0.27 Mil) and increased from Dec. 2022 ($0.27 Mil) to Dec. 2023 ($0.67 Mil).

SSB Bancorp Credit Losses Provision Historical Data

The historical data trend for SSB Bancorp's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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SSB Bancorp Credit Losses Provision Chart

SSB Bancorp Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec22

Dec23

Credit Losses Provision

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0.25

0.15

0.17

0.27

0.67

SSB Bancorp Quarterly Data
	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															0.13	0.13	0.19	0.24	0.13

SSB Bancorp Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.67 Mil.

SSB Bancorp (SSB Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » SSB Bancorp Inc (OTCPK:SSBP) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

8700 Perry Highway, Pittsburgh, PA, USA, 15237

Website

https://www.ssbpgh.com

SSB Bancorp Inc is engaged in the provision of financial services to individuals and corporate customers. The bank offers deposits, loans, consumer financing, certificate of deposits, mortgage loans, card services, internet banking, insurance, and other related services.

Executives

Moon Joseph Daniel Iv	director, officer: President, CEO & CFO	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Gretchen Givens Generett	director	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Kenneth J. Broadbent	director	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Benjamin Contrucci	officer: Vice President of Subsidiary	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Peter F. Stires	officer: VP of Comm Lending	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Docchio David H. Jr.	director	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Mark C. Joseph	director	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Bernie M. Simons	director	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Bancorp, Mhc Ssb	10 percent owner	8700 PERRY HIGHWAY, PITTSBURGH PA 15237
Jennifer R. Harris	officer: Chief Lending Officer of Sub	8700 PERRY HIGHWAY, PITTSBURGH PA 15237