SouthState Corporation (NYSE:SSB) Q2 2024 Earnings Conference Call July 25, 2024 9:00 AM ET
Company Participants
William Matthews - Chief Financial Officer
John Corbett - Chief Executive Officer
Steve Young - Chief Strategy Officer
Conference Call Participants
Michael Rose - Raymond James
Catherine Mealor - KBW
Brandon King - Truist Securities
Gary Tenner - D.A. Davidson
David Bishop - Hovde Group
Operator
Thank you for standing by. My name is Kathleen. I will be your conference operator today. At this time, I would like to welcome everyone to the SouthState Corporation Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.
I would now like to turn the call over to Mr. William Matthews, Chief Financial Officer. Please go ahead.
William Matthews
Good morning and welcome to SouthState’s second quarter 2024 earnings call. This is Will Matthews and I am here with; John Corbett; Steve Young; and Jeremy Lucas. As always, John and I will make some brief remarks and then move into questions. We understand you can all read our earnings release and investor presentation, copies of which are on our Investor Relations website.
We thus won’t regurgitate all the information, but try to make a few comments and point out a few highlights on items of interest before moving to Q&A. Before we begin our remarks, I want to remind you that the comments we make may include forward-looking statements within the meaning of the Federal Securities laws and regulations. Any such forward-looking statements we may make are subject to the Safe Harbor rules. Please review the forward-looking disclaimer and Safe Harbor language in the press release and presentation for more information about our forward-looking statements and risks and uncertainties which may affect us.
Now, I’ll turn the call over to John Corbett, our CEO.
John Corbett
Thank you, Will. Good morning, everybody. Thanks for joining us. It felt like SouthState was firing on nearly all cylinders in the second quarter. We saw the long anticipated inflection of our net interest margin. Non-interest income was up, expenses were well controlled, and earnings per share were up 15% from last quarter. On the balance sheet, deposits are still a challenge, but loans grew better than forecast and asset quality is in good shape with only 5 basis points in charge-offs.