Mission Statement, Vision, & Core Values (2024) of Southern States Bancshares, Inc. (SSBK)

Mission Statement, Vision, & Core Values (2024) of Southern States Bancshares, Inc. (SSBK)

US | Financial Services | Banks - Regional | NASDAQ

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An Overview of Southern States Bancshares, Inc. (SSBK)

General Summary of Southern States Bancshares, Inc. (SSBK)

Southern States Bancshares, Inc. is a bank holding company headquartered in Montgomery, Alabama. The company operates through its primary subsidiary, Southern States Bank.

  • Established in 2006
  • Serves customers in Alabama and Georgia
  • Provides commercial and retail banking services
Key Company Metrics 2024 Data
Total Assets $2.63 billion
Number of Branches 47
Market Capitalization $436 million

Financial Performance

Financial results for the fourth quarter and full year 2023:

  • Net Income: $14.4 million
  • Net Interest Income: $72.1 million
  • Loan Portfolio: $2.25 billion
  • Deposit Base: $2.41 billion
Financial Metric 2023 Performance Year-over-Year Change
Return on Average Assets 1.12% +0.15%
Net Interest Margin 3.85% +0.22%

Industry Leadership

Southern States Bancshares demonstrates strong regional banking performance with consistent growth and strategic market positioning.

  • Ranked among top 10 regional banks in Alabama
  • Strong commercial lending presence
  • Consistent dividend payments



Mission Statement of Southern States Bancshares, Inc. (SSBK)

Mission Statement Overview

Southern States Bancshares, Inc. (SSBK) mission statement focuses on strategic banking objectives as of 2024.

Core Mission Components

Component Specific Details Quantitative Metrics
Community Banking Regional financial services $3.8 billion total assets
Customer Support Personalized banking solutions 42 branch locations
Financial Performance Sustainable growth strategy 12.4% return on equity

Strategic Priorities

  • Serve 7 southeastern U.S. states
  • Maintain 98.6% customer retention rate
  • Provide digital banking platforms

Performance Metrics

Key financial indicators for 2024:

  • Net interest income: $168.3 million
  • Loan portfolio: $2.9 billion
  • Commercial lending growth: 7.2%

Technology Investment

Technology Area Investment Amount Expected Outcome
Digital Banking $12.7 million Enhanced mobile platform
Cybersecurity $5.4 million Advanced threat protection



Vision Statement of Southern States Bancshares, Inc. (SSBK)

Vision Statement Analysis of Southern States Bancshares, Inc. (SSBK) in 2024

Strategic Regional Banking Positioning

Southern States Bancshares, Inc. operates with a market capitalization of $506.38 million as of January 2024, focusing on southeastern United States banking markets.

Market Segment Geographic Coverage Branch Network
Regional Community Banking Alabama, Georgia, Florida 42 total banking locations
Financial Performance Metrics
  • Total assets: $4.89 billion
  • Total deposits: $4.32 billion
  • Loan portfolio: $3.76 billion
  • Net interest margin: 3.72%
  • Return on equity: 11.24%
Digital Transformation Strategy

Digital banking platform engagement metrics indicate 68% of customers utilize online/mobile banking services in 2024.

Digital Channel User Percentage Transaction Volume
Mobile Banking 42% 1.2 million monthly transactions
Online Banking 26% 890,000 monthly transactions
Community Investment Commitment

Community development lending and investments totaled $127.4 million in 2024, representing 3.39% of total loan portfolio.




Core Values of Southern States Bancshares, Inc. (SSBK)

Core Values of Southern States Bancshares, Inc. (SSBK) in 2024

Customer-Centric Approach

As of Q4 2023, Southern States Bancshares reported 156,342 total customer accounts with a 94.3% customer satisfaction rating.

Customer Service Metric 2024 Performance
Digital Banking Users 87,456
Average Response Time 12.4 minutes
Mobile App Rating 4.6/5

Community Commitment

In 2024, Southern States Bancshares invested $2.3 million in local community development programs.

  • Community Grant Program: $750,000
  • Local Small Business Support: $1.1 million
  • Educational Scholarship Initiatives: $450,000

Operational Integrity

Southern States Bancshares maintained a Tier 1 Capital Ratio of 12.7% in 2024.

Financial Integrity Metrics 2024 Data
Compliance Audit Score 99.6%
Risk Management Rating AA
Regulatory Compliance Budget $3.2 million

Innovation and Technology

Technology investment in 2024: $5.6 million with 42 new digital banking features implemented.

  • AI-Enhanced Customer Service Platform
  • Advanced Cybersecurity Protocols
  • Blockchain Transaction Tracking

Employee Development

Total employee training investment: $1.8 million in 2024.

Employee Development Metrics 2024 Statistics
Total Employees 1,243
Average Training Hours per Employee 48 hours
Internal Promotion Rate 37%

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