South State posts 1Q profit

Associated Press |

COLUMBIA, S.C. (AP) _ South State Corp. (SSB) on Friday reported first-quarter profit of $18.3 million.

The bank, based in Columbia, South Carolina, said it had earnings of 63 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.15 per share.



The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The bank holding company posted revenue of $137.4 million in the period. Its adjusted revenue was $133.8 million.

South State shares have climbed almost 3 percent since the beginning of the year. The stock has risen 29 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

Keywords: South State, Earnings Report

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