South State Corp., Columbia-Based Bank, Reports 3Q Profit Of $35M

COLUMBIA, SC — South State Corp. (SSB) on Tuesday reported a third-quarter profit of $35 million. The Columbia, South Carolina-based bank said it had earnings of $1.19 per share. Earnings, adjusted for non-recurring costs, were $1.22 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The bank holding company posted revenue of $140.5 million in the period. Its adjusted revenue was $136.4 million. (For more information on the bank and other Columbia stories, subscribe to Patch to receive daily newsletters and breaking news alerts. If you have an iPhone, click here to get the free Patch iPhone app.)

South State shares have risen nearly 4 percent since the beginning of the year. The stock has risen 24 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

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