South State Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company's net interest income was $112,274,000 against $80,600,000 a year ago. Income before provision for income taxes was $42,962,000 against $37,568,000 a year ago. Net income was $2,421,000 or $0.08 per diluted share against $24,177,000 or $1.00 per diluted share a year ago. Adjusted net income was $41,388,000 or $1.30 per diluted share against $27,991,000 or $1.15 per diluted share a year ago. Return on average assets was 0.08% against 1.08% a year ago. Adjusted return on average assets was 1.33% against 1.26% a year ago. Return on average equity was 0.51% against 8.50% a year ago. Adjusted return on average equity was 8.75% against 9.84% a year ago. Book value per common share was $62.81 per share against $46.82 per share a year ago.

For the full year, the company's net interest income was $408,986,000 against $324,846,000 a year ago. Income before provision for income taxes was $168,805,000 against $154,042,000 a year ago. Net income was $87,554,000 or $2.93 per diluted share against $101,282,000 or $4.18 per diluted share a year ago. Adjusted net income was $145,136,000 or $4.85 per diluted share against $110,099,000 or $4.55 per diluted share a year ago. Return on average assets was 0.77% against 1.16% a year ago. Adjusted return on average assets was 1.28% against 1.26% a year ago. Return on average equity was 5.26% against 9.17% a year ago. Adjusted return on average equity was 8.71% against 9.97% a year ago.

For the quarter, the company's net charge offs on non-acquired loans were 0.02% annualized, or $265,000 against 0.05% annualized, or $644,000 a year ago. Net charge offs on acquired non-credit impaired loans were 0.07% annualized, or $402,000 against 0.06% annualized or $122,000 a year ago.