SSB · South State Bank Q2 FY2026 earnings call record财报电话会记录

“Over the last year, we've repurchased nearly 5% of our shares outstanding while also increasing the dividend and maintaining a CET1 capital ratio above 11%.”

“Our net interest margin of 3.78% was down a basis point from Q1 and in line with our 3.75%-3.80% guidance.”

“Additionally, I'll point out that our Q2 2026 EPS, excluding both accretion income and CDI amortization expense, was up 13% versus the second quarter of 2025.”

“In comparing to Q1, the $6 million positive impact of the extra day in the quarter matched the $6 million decline in accretion income.”

“Non-interest income of $97 million or 57 basis points of average assets was within our guidance range of 55 basis points-60 basis points and $3 million below Q1's levels, as higher deposit fees were offset by lower mortgage revenue.”

“Consensus estimates for NIE are a bit above $1.46 billion, and this is in line with our 2026 guidance of 4% growth over 2025 levels.”

“Turning to capital, we repurchased 1 million shares in the quarter at a weighted average price of $97.62 for a 68% total payout ratio including dividends.”

“CET1 ended at 11.1%, TCE was 8.7%, and our TBV per share ended at $58.72, which is up 13% from the year ago level, a period in which we repurchased over 4.9 million shares, or approximately 5% of the company.”

“Just a reminder, net interest margin this quarter was 3.78% versus our guide last quarter of 3.75%, 3.80%, kind of right in line.”

“Given your kind of 2026 focus of driving meaningful balance sheet growth, I would presume that you guys, if you had to weight one more to the other, would say a couple of basis points of NIM compression would be okay as long as you're growing good customers, loans, and NII.”

“On the right-hand side of that page, you'll see that that gross revenue has increased about $5 million.”

“On the other side, you had some small upward pressure as rates have moved up because prepaid models show a slowing down there, and that impacts reserve holds up a little bit.”