SSB Q2 net income +6.9% to $258.4M; NIM compressed 24bp on lower accretion; $258M buyback YTD

Filed July 31, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 1, 2025 · ~1 min read

Key Changes

• high

  Net interest margin compressed 24 basis points YoY to 3.78% as loan accretion from the Independent acquisition declined $30.5M in Q2 and $53.5M YTD, partially offset by 10bp lower cost of funds (1.84%).

  MD&A: Net Interest Margin verify on EDGAR →
• high

  Repurchased 2.5M shares at $99.58 average price under new 5.56M-share authorization; total program spend $258.4M YTD. Remaining authorization declined as program repurchases consumed capacity.

  Notes: 2026 Repurchase Plan verify on EDGAR →
• high

  Efficiency ratio improved to 50.0% from 52.7% as merger/restructuring expenses fell $24.4M and intangibles amortization declined $3.0M, partially offset by higher salaries (+$5.2M) and occupancy (+$2.4M).

  MD&A: Noninterest Expense verify on EDGAR →