SSBK (Southern States Bancshares) Credit Losses Provision : $4.96 Mil (As of Dec. 2024)

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What is Southern States Bancshares Credit Losses Provision?

Southern States Bancshares's credit losses provision for the three months ended in Dec. 2024 was $0.07 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2024 was $4.96 Mil.

Southern States Bancshares's quarterly credit losses provision increased from Jun. 2024 ($1.07 Mil) to Sep. 2024 ($2.58 Mil) but then declined from Sep. 2024 ($2.58 Mil) to Dec. 2024 ($0.07 Mil).

Southern States Bancshares's annual credit losses provision increased from Dec. 2022 ($5.61 Mil) to Dec. 2023 ($6.09 Mil) but then declined from Dec. 2023 ($6.09 Mil) to Dec. 2024 ($4.96 Mil).

Southern States Bancshares Credit Losses Provision Historical Data

The historical data trend for Southern States Bancshares'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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Southern States Bancshares Credit Losses Provision Chart

Southern States Bancshares Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Credit Losses Provision

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3.30

2.98

5.61

6.09

4.96

Southern States Bancshares Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Credit Losses Provision	Get a 7-Day Free Trial															2.58	1.24	1.07	2.58	0.07

Southern States Bancshares 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 Dec. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $4.96 Mil.

Southern States Bancshares Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Southern States Bancshares Inc (NAS:SSBK) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

6U2:Germany

Address

615 Quintard Avenue, Anniston, AL, USA, 36201

Website

https://www.southernstatesbank.net

Southern States Bancshares Inc is a full-service community banking institution, that offers an array of deposit, loan, and other banking-related products and services to businesses and individuals in communities. The company is focused on personalized, relationship-driven service combined with local market management and expertise to serve small and medium size businesses and individuals. It has three portfolio segments Real estate, Commercial and industrial, Consumer and other.

Executives

Brent O. Hitson	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Jay F. Pumroy	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Lynn J Joyce	officer: Chief Financial Officer	1630 4TH AVE NORTH, BESSEMER AL 35020
Gregory B. Smith	officer: Chief Risk Officer	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Jonathan Hinton	director	615 QUINTARD AVENUE, ANNISTON AL 36201
Christine Hunsaker	director	1333 S CLEARVIEW PARKWAY, JEFFERSON LA 70121
Cynthia S. Mccarty	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Daniel Andrew Cummings	director	615 QUINTARD AVENUE, ANNISTON AL 36201
Smith J. Henry Iv	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Turner Henry A. Jr.	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Hayes Alfred J. Jr.	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Lewis C. Beavers	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Jimmy A. Lafoy	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Robert T. Davie	director	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223
Stephen W. Whatley	director, officer: Chief Executive Officer	7 OFFICE PARK CIRCLE, BIRMINGHAM AL 35223