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SouthState Bank NYSE: SSB reported second-quarter 2026 results marked by continued loan growth, stable net interest margin, low credit losses and ongoing investment in banker recruiting and artificial intelligence initiatives.

Chief Executive Officer John Corbett said the company generated a 1.36% return on assets and a 17.6% return on tangible common equity during the quarter. He said results reflected “solid balance sheet growth, stable margins, improving efficiency, and continued strength in credit quality.”

Over the past year, loans increased 8% and deposits rose 5%, both within the company’s previously issued guidance ranges. During the second quarter, loan growth totaled $1.35 billion, representing an 11% annualized rate. Average loan growth also ran at an 11% annualized pace.

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Corbett said growth was broad-based across SouthState’s footprint, with Florida leading the company in loan-growth dollars. Florida, Texas and South Carolina were the largest contributors by dollar amount, while Atlanta, Virginia and Alabama posted strong percentage growth, including commercial and industrial lending gains in Atlanta.

Recruiting Supports Growth Strategy SouthState has expanded its commercial banking sales force by more than 10% over the past three quarters as it seeks to capitalize on disruption in its markets. Corbett said the company had offered division presidents the opportunity to increase their commercial relationship manager teams by 15% to 20% over several years.

The newer hires have generated $600 million of loan production so far and have a $1.5 billion pipeline, according to Corbett. Texas has been the strongest market for sales-force expansion, with its commercial relationship manager count up 25%.

The company expects loan growth to remain in the mid- to upper-single-digit range. Corbett said SouthState sees a potential mix shift in the second half, with commercial and industrial lending expected to increase while planned commercial real estate payoffs, including multifamily projects, rise.

Construction lending increased during the quarter, driven partly by owner-occupied projects for commercial clients and multifamily construction. However, Corbett noted that the overall construction category remained about 10% below its level a year earlier.

Margin Outlook Remains Stable SouthState reported a net interest margin of 3.78%, down 1 basis point from the first quarter and within its 3.75% to 3.80% guidance range. Deposit costs were unchanged from the prior quarter at 1.76%, while loan yields declined 5 basis points to 5.91% due to lower purchase-accounting accretion income.

Excluding accretion, loan yields increased 1 basis point and net interest margin rose 4 basis points, the company said. Net interest income totaled $576 million, up $14 million from the first quarter.

Chief Strategy Officer Steve Young said management’s outlook assumes no interest-rate increases or reductions through 2027 and calls for net interest margin to remain within the 3.75% to 3.80% range. He said deposit costs could rise modestly as the company funds loan growth, but anticipated asset repricing should help support the margin.

SouthState said approximately 76% of quarterly loan production carried floating rates. The share of the overall loan portfolio in floating-rate loans has increased to 38%, from 32% a year earlier.

Management also pointed to future repricing opportunities, including roughly $6 billion of loans expected to reprice over the next year and about $1 billion of securities expected to cash flow and be reinvested. Young said legacy loans with coupons in the 3% to 4% range are being replaced at rates in the 6% range.

Credit Quality and Expenses Credit quality improved during the quarter. Nonperforming assets declined 14%, classified loans also decreased, and net charge-offs were 6 basis points. It was the eighth time in the past nine quarters that SouthState’s net charge-offs were below 10 basis points.

Provision expense was $16 million, primarily reflecting loan growth. Management said it expects modest downward pressure on reserve levels absent meaningful changes in Moody’s economic forecasts and other loss drivers. The company continues to use a more conservative weighting toward Moody’s pessimistic scenario than its traditional model weighting.

Noninterest income was $97 million, or 57 basis points of average assets, within the company’s 55- to 60-basis-point guidance range. The figure was $3 million below the first quarter, as higher deposit fees were offset by lower mortgage revenue. SouthState said it continues to expect correspondent banking revenue of roughly $25 million per quarter.

Noninterest expense totaled $358 million, slightly better than guidance. Management maintained its forecast for 4% noninterest expense growth in 2026. It expects compensation costs to rise in the second half as recently hired employees remain in the run rate and company merit increases take effect July 1.

Capital Returns and Technology Investment SouthState repurchased 1 million shares during the quarter at a weighted average price of $97.62, producing a 68% total payout ratio including dividends. Year-to-date repurchases totaled 2.5 million shares and the total payout ratio was 80%.

Corbett said the company repurchased nearly 5% of its outstanding shares over the past year while increasing its dividend and maintaining a common equity tier 1 capital ratio above 11%. CET1 ended the quarter at 11.1%, tangible common equity was 8.7%, and tangible book value per share was $58.72, up 13% from a year earlier.

Management reiterated its longer-term total capital return framework of 40% to 60%, saying recent higher repurchase activity is not expected to be sustained if the company continues to target mid- to high-single-digit loan growth while maintaining CET1 in an 11% to 12% range.

Corbett also highlighted artificial intelligence as a strategic priority. The company is using the technology in credit operations, fraud management and call-center support, as well as through an internally developed small language model. SouthState is also testing commodity-hedging and foreign-exchange offerings, though Young said those initiatives are expected to launch in 2027 rather than materially affect 2026 results.

About SouthState Bank (NYSE:SSB)SouthState Bank NYSE: SSB is a bank holding company headquartered in Winter Haven, Florida, that provides a range of commercial and retail banking services. Through its subsidiary, SouthState Bank, the company serves businesses, institutions and individuals with deposit, lending and treasury management solutions. Its core business lines include commercial and industrial loans, commercial real estate lending, consumer mortgages and home equity loans.

In addition to traditional lending and deposit products, SouthState Bank offers specialized services such as treasury and cash management, merchant services, payment solutions and online banking.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways SouthState Q2 EPS beat estimates, while revenues declined and missed expectations.SSB's non-interest income, loans and deposits grew, while expenses fell and asset quality improved.SouthState raised its quarterly dividend to 66 cents per share despite lower NII and rise in provision. SouthState Corporation (SSB - Free Report) reported second-quarter 2026 earnings per share of $2.35, which surpassed the Zacks Consensus Estimate of $2.33. Also, the bottom line increased 11% from the prior-year quarter.

Results were supported by growth in non-interest income, along with higher loans and deposit balances. Lower expenses and an improvement in asset quality were other positives. However, a decline in net interest income (NII) and net interest margin (NIM), along with higher provisions, acted as headwinds.

Net income (GAAP basis) was $230 million, up 6.9% from $215.2 million in the year-ago quarter.

SouthState’s Revenues Decline, Expenses FallTotal revenues for the quarter were $672.7 million, representing a 1.2% year-over-year decline. Also, the top line missed the Zacks Consensus Estimate of $677.2 million.

NII was $575.9 million, down marginally from the year-ago quarter. NIM declined to 3.78% from 4.02% in the prior-year quarter.

Non-interest income was $96.7 million, up 11.4% from the prior-year quarter. The increase was mainly driven by higher fees on deposit accounts, correspondent banking and capital markets income, trust and investment services income, and bank-owned life insurance income. This was partly offset by lower mortgage banking income and other income.

Non-interest expenses declined 4.6% to $357.7 million. The decrease was mainly due to the absence of merger, branch consolidation, severance-related and other expenses, along with lower information services expenses, OREO and loan-related expenses, the amortization of intangibles, and FDIC assessment and other regulatory charges. This was partly offset by higher salaries and employee benefits, occupancy expenses, business development and staff-related expenses, and other operating expenses.

The efficiency ratio decreased to 50% from 52.75% in the year-ago quarter. A decline in the efficiency ratio indicates a rise in profitability.

SSB’s Loans & Deposits RiseAs of June 30, 2026, net loans were $50.3 billion, up 2.8% from the prior quarter. Total deposits were $56.3 billion, which rose 0.8% sequentially.

SouthState’s Asset Quality: Mixed BagIn the reported quarter, the company recorded a provision for credit losses of $15.9 million, up from $7.5 million in the prior-year quarter.

Allowance for credit losses as a percentage of loans was 1.15%, down 16 basis points year over year. The ratio of annualized net charge-offs to total average loans was 0.06%, down from 0.21% in the year-ago quarter.

Non-performing loans to total loans were 0.54%, down from 0.63% in the previous-year quarter. Total non-performing assets declined to $287.4 million from $323.8 million in the year-ago quarter.

SSB’s Capital Ratios Mixed, Profitability Ratios ImproveAs of June 30, 2026, the Tier I leverage ratio was 9.4%, up from 9.2% in the year-ago quarter. The Tier 1 common equity ratio decreased to 11.1% from the prior-year quarter’s 11.2%.

At the end of the second quarter, the annualized return on average assets was 1.36%, up from the year-ago period’s 1.34%. Return on average common equity was 10.19% compared with 9.93% in the prior-year quarter.

SSB Capital Distribution UpdateThe company increased its quarterly cash dividend on its common stock from 60 cents per share to 66 cents. The dividend is payable Aug. 14, 2026, to shareholders of record as of Aug. 7, 2026

Our Take on SouthStateSouthState’s growth in non-interest income, along with higher loan and deposit balances, is expected to support its financial performance. Lower expenses and improving asset quality trends are additional positives. However, pressure on NII and NIM, along with higher provisions, remains concerning.

Currently, SSB carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performances of Other BanksCommerce Bancshares Inc.’s (CBSH - Free Report) second-quarter 2026 earnings of $1.10 per share surpassed the Zacks Consensus Estimate of $1.04. The bottom line reflected a rise of 1% from the prior-year quarter.

CBSH’s results primarily benefited from higher NII and a rise in non-interest income. The sequential rise in loan balances acted as a tailwind. However, higher expenses and provisions hurt CBSH’s results to some extent.

F.N.B. Corporation (FNB - Free Report) reported second-quarter 2026 earnings of 42 cents per share, which matched the Zacks Consensus Estimate. The bottom line jumped 16.7% year over year.

FNB’s results primarily benefited from higher NII, a rise in non-interest income and lower provisions. Higher average loans and deposits were other positives. However, higher non-interest expenses hurt the results to some extent.

, /PRNewswire/ -- SouthState Bank Corporation ("SouthState" or the "Company") (NYSE: SSB) today released its unaudited results of operations and other financial information for the three-month and six-month periods ended June 30, 2026.

SouthState Bank Corporation Reports Second Quarter 2026 Results "We continue to make progress on our priorities of balance sheet growth, opportunistic hiring, active share repurchases and building our artificial intelligence capabilities," said John C. Corbett, SouthState's Chief Executive Officer.  "The second quarter featured solid loan growth, a stable net interest margin, unchanged deposit costs, and improved efficiency.  Asset quality trends also improved, with a decline in non-accruals and charge-offs of just 6 basis points.  Over the past year, we've retired nearly 5% of our share count, raised our dividend by 11% and grown tangible book value by 13%.  We remain focused on delivering for our shareholders."

Highlights of the second quarter of 2026 include:

Returns

Reported diluted Earnings per Share ("EPS") and Adjusted Diluted EPS (Non-GAAP) of $2.35, up 11% year over year on a reported basis and 2% year over year on an adjusted basis Net Income of $230 million Return on Average Common Equity of 10.2%; Return on Average Tangible Common Equity (Non-GAAP) of 17.6%* Return on Average Assets ("ROAA") of 1.36%* Book Value per Share of $94.17 Tangible Book Value ("TBV") per Share (Non-GAAP) of $58.72, an increase of 13% year over year, after raising the dividend by 11%, and repurchasing nearly 5% of the Company's shares over the past year Performance

Net Interest Income of $576 million, an increase of $14 million, or 3%, compared to the prior quarter Noninterest Income of $97 million, a decrease of $3 million compared to the prior quarter primarily due to mortgage banking income; Noninterest Income represented 0.57% of average assets for the second quarter of 2026* Noninterest Expense of $358 million, a decrease of $2 million compared to the prior quarter primarily due to OREO and loan related expense Net Interest Margin ("NIM"), non-tax equivalent and tax equivalent (Non-GAAP), of 3.78% Net charge-offs totaled $8 million, or 0.06%* of average loans $16 million of Provision for Credit Losses ("PCL"); total Allowance for Credit Losses ("ACL") plus reserve for unfunded commitments of 1.30% of loans Efficiency Ratio improved to 50% from the prior quarter Balance Sheet

Loans increased by $1.4 billion, or 11%*, compared to the prior quarter and increased by $3.6 billion, or 8%, year over year; deposits increased by $474 million, or 3%*, and increased by $2.7 billion, or 5%, year over year; ending loan to deposit ratio of 90% Total deposit cost of 1.76%, unchanged from the prior quarter Strong capital position with Tangible Common Equity, Total Risk-Based Capital, Tier 1 Leverage, and Tier 1 Common Equity ratios of 8.7%, 13.5%, 9.4%, and 11.1%, respectively† Subsequent Events

The Board of Directors of the Company increased its quarterly cash dividend on its common stock from $0.60 per share to $0.66 per share; the dividend is payable on August 14, 2026 to shareholders of record as of August 7, 2026 ∗  Annualized percentages
†  Preliminary 

Financial Performance

Three Months Ended

Six Months Ended

(Dollars in thousands, except per share data)

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

Jun. 30,

Jun. 30,

INCOME STATEMENT

2026

2026

2025

2025

2025

2026

2025

Interest Income

   Loans, including fees (1)

$

744,652

$

721,571

$

748,106

$

782,382

$

746,448

$

1,466,222

$

1,471,088

   Investment securities, trading securities, federal funds sold and securities

      purchased under agreements to resell

93,607

95,258

100,640

99,300

94,056

188,866

177,982

Total interest income

838,259

816,829

848,746

881,682

840,504

1,655,088

1,649,070

Interest Expense

   Deposits

244,216

238,522

250,189

257,271

241,593

482,738

487,550

   Federal funds purchased, securities sold under agreements

      to repurchase, and other borrowings

18,094

16,702

17,442

24,714

20,963

34,796

39,025

Total interest expense

262,310

255,224

267,631

281,985

262,556

517,534

526,575

Net Interest Income

575,949

561,605

581,115

599,697

577,948

1,137,554

1,122,495

  Provision for credit losses

15,919

10,808

6,605

5,085

7,505

26,727

108,067

Net Interest Income after Provision for Credit Losses

560,030

550,797

574,510

594,612

570,443

1,110,827

1,014,428

Noninterest Income

Operating income

96,726

100,098

105,753

99,086

86,817

196,824

172,437

Securities losses, net

—

—

—

—

—

—

(228,811)

Gain on sale leaseback, net of transaction costs

—

—

—

—

—

—

229,279

Total noninterest income

96,726

100,098

105,753

99,086

86,817

196,824

172,905

Noninterest Expense

Operating expense

357,749

359,524

364,196

351,453

350,682

717,273

691,502

Merger, branch consolidation, severance related, and other expense (8)

—

—

4,494

20,889

24,379

—

92,385

FDIC special assessment

—

—

(3,835)

—

—

—

—

Total noninterest expense

357,749

359,524

364,855

372,342

375,061

717,273

783,887

Income before Income Tax Provision

299,007

291,371

315,408

321,356

282,199

590,378

403,446

Income tax provision

68,985

65,551

67,686

74,715

66,975

134,536

99,142

Net Income

$

230,022

$

225,820

$

247,722

$

246,641

$

215,224

$

455,842

$

304,304

Adjusted Net Income (non-GAAP) (2)

Net Income (GAAP)

$

230,022

$

225,820

$

247,722

$

246,641

$

215,224

$

455,842

$

304,304

Securities losses, net of tax

—

—

—

—

—

—

178,639

Gain on sale leaseback, net of transaction costs and tax

—

—

—

—

—

—

(179,004)

Initial provision for credit losses - Non-PCD loans and UFC from

Independent, net of tax

—

—

—

—

—

—

71,892

Merger, branch consolidation, severance related, and other expense,

net of tax (8)

—

—

3,529

16,032

18,593

—

71,687

Deferred tax asset remeasurement

—

—

—

—

—

—

5,581

FDIC special assessment, net of tax

—

—

(3,012)

—

—

—

—

Adjusted Net Income (non-GAAP)

$

230,022

$

225,820

$

248,239

$

262,673

$

233,817

$

455,842

$

453,099

   Basic earnings per common share

$

2.36

$

2.29

$

2.48

$

2.44

$

2.12

$

4.66

$

3.00

   Diluted earnings per common share

$

2.35

$

2.28

$

2.46

$

2.42

$

2.11

$

4.64

$

2.99

   Adjusted net income per common share - Basic (non-GAAP) (2)

$

2.36

$

2.29

$

2.48

$

2.60

$

2.30

$

4.66

$

4.47

   Adjusted net income per common share - Diluted (non-GAAP) (2)

$

2.35

$

2.28

$

2.47

$

2.58

$

2.30

$

4.64

$

4.45

   Dividends per common share

$

0.60

$

0.60

$

0.60

$

0.60

$

0.54

$

1.20

$

1.08

   Basic weighted-average common shares outstanding

97,300,899

98,544,242

100,063,315

101,218,431

101,495,456

97,919,136

101,452,777

   Diluted weighted-average common shares outstanding

97,676,767

98,922,258

100,618,796

101,735,095

101,845,360

98,292,252

101,835,756

   Effective tax rate

23.07 %

22.50 %

21.46 %

23.25 %

23.73 %

22.79 %

24.57 %

   Adjusted effective tax rate

23.07 %

22.50 %

21.46 %

23.25 %

23.73 %

22.79 %

23.19 %

Performance and Capital Ratios

Three Months Ended

Six Months Ended

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

Jun. 30,

Jun. 30,

2026

2026

2025

2025

2025

2026

2025

PERFORMANCE RATIOS

Return on average assets (annualized)

1.36

%

1.37

%

1.47

%

1.49

%

1.34

%

1.36

%

0.95

%

Adjusted return on average assets (annualized) (non-GAAP) (2)

1.36

%

1.37

%

1.48

%

1.59

%

1.45

%

1.36

%

1.42

%

Return on average common equity (annualized)

10.19

%

10.11

%

10.90

%

11.04

%

9.93

%

10.15

%

7.17

%

Adjusted return on average common equity (annualized) (non-GAAP) (2)

10.19

%

10.11

%

10.92

%

11.75

%

10.79

%

10.15

%

10.68

%

Return on average tangible common equity (annualized) (non-GAAP) (3)

17.62

%

17.59

%

19.10

%

19.62

%

18.17

%

17.60

%

13.73

%

Adjusted return on average tangible common equity (annualized) (non-GAAP) (2) (3)

17.62

%

17.59

%

19.14

%

20.81

%

19.61

%

17.60

%

19.72

%

Efficiency ratio (tax equivalent)

50.00

%

51.05

%

49.65

%

49.88

%

52.75

%

50.52

%

56.75

%

Adjusted efficiency ratio (non-GAAP) (4)

50.00

%

51.05

%

49.56

%

46.89

%

49.09

%

50.52

%

49.65

%

Dividend payout ratio (5)

25.31

%

26.12

%

24.23

%

24.59

%

25.47

%

25.71

%

36.00

%

Book value per common share

$

94.17

$

92.21

$

91.38

$

89.14

$

86.71

Tangible book value per common share (non-GAAP) (3)

$

58.72

$

56.90

$

56.27

$

54.48

$

51.96

CAPITAL RATIOS

Equity-to-assets

13.3

%

13.3

%

13.5

%

13.6

%

13.4

%

Tangible equity-to-tangible assets (non-GAAP) (3)

8.7

%

8.6

%

8.8

%

8.8

%

8.5

%

Tier 1 leverage (6)

9.4

%

9.4

%

9.3

%

9.4

%

9.2

%

Tier 1 common equity (6)

11.1

%

11.3

%

11.4

%

11.5

%

11.2

%

Tier 1 risk-based capital (6)

11.1

%

11.3

%

11.4

%

11.5

%

11.2

%

Total risk-based capital (6)

13.5

%

13.7

%

13.8

%

14.0

%

14.5

%

Balance Sheet

Ending Balance

(Dollars in thousands, except per share and share data)

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

BALANCE SHEET

2026

2026

2025

2025

2025

Assets

Cash and due from banks

$

649,079

$

598,218

$

583,375

$

582,792

$

755,798

Federal funds sold and interest-earning deposits with banks

1,701,233

2,268,864

2,589,108

2,561,663

2,708,308

         Cash and cash equivalents

2,350,312

2,867,082

3,172,483

3,144,455

3,464,106

Trading securities, at fair value

191,094

117,590

110,183

107,519

95,306

Investment securities:

   Securities held to maturity

1,955,754

2,007,249

2,048,030

2,096,727

2,145,991

   Securities available for sale, at fair value

6,598,177

6,530,348

6,313,756

6,042,800

5,927,867

   Other investments

366,986

370,924

353,428

366,218

357,487

         Total investment securities

8,920,917

8,908,521

8,715,214

8,505,745

8,431,345

Loans held for sale

405,441

327,935

345,343

346,673

318,985

Loans:

Purchased credit deteriorated

2,658,792

2,818,360

2,977,499

3,160,359

3,409,186

Purchased non-credit deteriorated

9,921,791

10,714,489

11,232,414

11,877,828

12,492,553

Non-acquired

38,266,289

35,963,934

34,388,614

32,629,724

31,365,508

   Less allowance for credit losses

(586,664)

(585,882)

(585,197)

(590,133)

(621,046)

         Loans, net

50,260,208

48,910,901

48,013,330

47,077,778

46,646,201

Premises and equipment, net

992,594

993,584

994,176

961,510

964,878

Bank owned life insurance

1,311,197

1,302,382

1,293,574

1,285,532

1,280,632

Mortgage servicing rights

91,442

90,018

84,032

84,491

85,836

Core deposit and other intangibles

343,424

364,686

386,326

409,890

433,458

Goodwill

3,094,059

3,094,059

3,094,059

3,094,059

3,094,059

Other assets

949,340

1,002,465

988,692

1,030,558

1,078,516

              Total assets

$

68,910,028

$

67,979,223

$

67,197,412

$

66,048,210

$

65,893,322

Liabilities and Shareholders' Equity

Deposits:

   Noninterest-bearing

$

13,451,094

$

13,650,799

$

13,375,697

$

13,430,459

$

13,719,030

   Interest-bearing

42,898,716

42,224,864

41,770,100

40,642,810

39,977,931

         Total deposits

56,349,810

55,875,663

55,145,797

54,073,269

53,696,961

Federal funds purchased and securities

   sold under agreements to repurchase

569,486

643,386

618,215

594,092

630,558

Other borrowings

996,749

696,642

696,536

696,429

1,099,705

Reserve for unfunded commitments

76,525

69,229

69,619

68,538

64,693

Other liabilities

1,785,990

1,663,387

1,608,137

1,604,756

1,600,271

              Total liabilities

59,778,560

58,948,307

58,138,304

57,037,084

57,092,188

Shareholders' equity:

   Common stock - $2.50 par value; authorized 160,000,000 shares

242,428

244,844

247,845

252,723

253,745

   Surplus

6,247,484

6,332,285

6,480,471

6,647,952

6,679,028

   Retained earnings

2,951,691

2,779,896

2,614,173

2,426,463

2,240,470

   Accumulated other comprehensive loss

(310,135)

(326,109)

(283,381)

(316,012)

(372,109)

              Total shareholders' equity

9,131,468

9,030,916

9,059,108

9,011,126

8,801,134

              Total liabilities and shareholders' equity

$

68,910,028

$

67,979,223

$

67,197,412

$

66,048,210

$

65,893,322

Common shares issued and outstanding

96,971,142

97,937,653

99,138,204

101,089,231

101,498,000

Net Interest Income and Margin

Three Months Ended

Jun. 30, 2026

Mar. 31, 2026

Jun. 30, 2025

(Dollars in thousands)

Average

Income/

Yield/

Average

Income/

Yield/

Average

Income/

Yield/

YIELD ANALYSIS

Balance

Expense

Rate

Balance

Expense

Rate

Balance

Expense

Rate

Interest-Earning Assets:

Federal funds sold and interest-earning deposits with banks

$

1,386,864

$

12,236

3.54 %

$

1,881,020

$

15,792

3.40 %

$

1,884,133

$

19,839

4.22 %

Investment securities

9,213,359

81,371

3.54 %

9,221,416

79,466

3.49 %

8,513,439

74,217

3.50 %

Loans held for sale

286,422

4,602

6.44 %

223,084

3,732

6.78 %

283,017

4,829

6.84 %

Total loans held for investment

50,247,114

740,050

5.91 %

48,875,656

717,839

5.96 %

47,029,412

741,619

6.33 %

     Total interest-earning assets

61,133,759

838,259

5.50 %

60,201,176

816,829

5.50 %

57,710,001

840,504

5.84 %

Noninterest-earning assets

6,694,407

6,726,355

6,840,880

     Total Assets

$

67,828,166

$

66,927,531

$

64,550,881

Interest-Bearing Liabilities ("IBL"):

Transaction and money market accounts

$

32,098,340

$

180,220

2.25 %

$

31,499,841

$

172,453

2.22 %

$

28,986,998

$

173,481

2.40 %

Savings deposits

2,817,269

1,638

0.23 %

2,822,510

1,642

0.24 %

2,921,780

2,012

0.28 %

Certificates and other time deposits

7,184,745

62,358

3.48 %

7,215,388

64,427

3.62 %

7,177,451

66,100

3.69 %

Federal funds purchased

289,337

2,616

3.63 %

295,207

2,635

3.62 %

360,588

3,943

4.39 %

Repurchase agreements

293,341

1,477

2.02 %

319,873

1,561

1.98 %

287,341

1,462

2.04 %

Other borrowings

851,660

14,001

6.59 %

696,597

12,506

7.28 %

821,545

15,558

7.60 %

     Total interest-bearing liabilities

43,534,692

262,310

2.42 %

42,849,416

255,224

2.42 %

40,555,703

262,556

2.60 %

Noninterest-bearing deposits

13,521,146

13,359,214

13,643,265

Other noninterest-bearing liabilities

1,719,228

1,661,672

1,659,331

Shareholders' equity

9,053,100

9,057,229

8,692,582

     Total Non-IBL and shareholders' equity

24,293,474

24,078,115

23,995,178

     Total Liabilities and Shareholders' Equity

$

67,828,166

$

66,927,531

$

64,550,881

Net Interest Income and Margin (Non-Tax Equivalent)

$

575,949

3.78 %

$

561,605

3.78 %

$

577,948

4.02 %

Net Interest Margin (Tax Equivalent) (non-GAAP)

3.78 %

3.79 %

4.02 %

Total Deposit Cost (without Debt and Other Borrowings)

1.76 %

1.76 %

1.84 %

Overall Cost of Funds (including Demand Deposits)

1.84 %

1.84 %

1.94 %

Total Accretion on Acquired Loans (1)

$

33,054

$

38,786

$

63,507

Tax Equivalent ("TE") Adjustment

$

751

$

760

$

672

•   The remaining loan discount on acquired loans to be accreted into loan interest income totals $185.9 million as of June 30, 2026.

Noninterest Income and Expense

Three Months Ended

Six Months Ended

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

Jun. 30,

Jun. 30,

(Dollars in thousands)

2026

2026

2025

2025

2025

2026

2025

Noninterest Income:

   Fees on deposit accounts

$

41,568

$

38,699

$

41,950

$

42,572

$

37,869

$

80,267

$

73,802

   Mortgage banking income

4,890

11,016

5,158

5,462

5,936

15,906

13,673

   Trust and investment services income

15,164

14,471

14,684

14,157

14,419

29,635

29,351

   Correspondent banking and capital markets income

24,839

24,427

30,638

25,522

19,161

49,266

35,876

   Expense on centrally-cleared variation margin

(4,028)

(3,000)

(3,167)

(4,318)

(5,394)

(7,028)

(12,564)

   Total correspondent banking and capital markets income

20,811

21,427

27,471

21,204

13,767

42,238

23,312

   Bank owned life insurance income

9,624

9,494

9,633

10,597

9,153

19,118

19,352

   Other

4,669

4,991

6,857

5,094

5,673

9,660

12,947

   Securities losses, net

—

—

—

—

—

—

(228,811)

   Gain on sale leaseback, net of transaction costs

—

—

—

—

—

—

229,279

         Total Noninterest Income

$

96,726

$

100,098

$

105,753

$

99,086

$

86,817

$

196,824

$

172,905

Noninterest Expense:

   Salaries and employee benefits

$

205,377

$

205,653

$

202,714

$

199,148

$

200,162

$

411,030

$

395,973

   Occupancy expense

43,878

42,302

42,567

40,874

41,507

86,180

77,000

   Information services expense

29,136

29,704

30,443

28,988

30,155

58,840

61,517

   OREO and loan related expense

952

4,378

867

5,427

2,295

5,330

4,079

   Business development and staff related

10,639

11,362

13,485

8,907

7,182

22,001

13,692

   Amortization of intangibles

21,041

21,304

23,417

23,426

24,048

42,345

47,879

   Professional fees

5,090

5,239

7,410

4,994

4,658

10,329

9,367

   Supplies and printing expense

3,885

3,254

3,594

3,278

3,970

7,139

7,098

   FDIC assessment and other regulatory charges

10,753

10,257

9,884

8,374

11,469

21,010

22,727

   Advertising and marketing

3,836

3,325

4,710

2,980

3,010

7,161

5,300

   Other operating expenses

23,162

22,746

25,105

25,057

22,226

45,908

46,870

   Merger, branch consolidation, severance related and other expense (8)

—

—

4,494

20,889

24,379

—

92,385

   FDIC special assessment

—

—

(3,835)

—

—

—

—

         Total Noninterest Expense

$

357,749

$

359,524

$

364,855

$

372,342

$

375,061

$

717,273

$

783,887

Loans and Deposits

The following table presents a summary of the loan portfolio by type:

Ending Balance

(Dollars in thousands)

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

LOAN PORTFOLIO (7)

2026

2026

2025

2025

2025

Construction and land development * †

$

2,982,968

$

2,592,908

$

2,548,360

$

2,678,971

$

3,323,923

Investor commercial real estate*

18,656,455

18,298,938

17,883,913

17,603,205

16,953,410

Commercial owner occupied real estate

7,852,391

7,671,535

7,576,991

7,529,075

7,497,906

Commercial and industrial

9,378,444

9,385,926

9,181,408

8,644,636

8,445,878

Consumer real estate *

11,034,102

10,573,897

10,450,223

10,202,026

10,038,369

Consumer/other

942,512

973,579

957,632

1,009,998

1,007,761

Total Loans

$

50,846,872

$

49,496,783

$

48,598,527

$

47,667,911

$

47,267,247

*     

Single family home construction-to-permanent loans originated by the Company's mortgage banking division are included in construction and land development category until completion.  Investor commercial real estate loans include commercial non-owner occupied real estate and other income producing property.  Consumer real estate includes consumer owner occupied real estate and home equity loans.

†     

Includes single family home construction-to-permanent loans of $358.4 million, $360.4 million, $342.8 million, $350.2 million, and $371.1 million for the quarters ended June 30, 2026, March 31, 2036, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.

Ending Balance

(Dollars in thousands)

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

DEPOSITS

2026

2026

2025

2025

2025

Noninterest-bearing checking

$

13,451,094

$

13,650,799

$

13,375,697

$

13,430,459

$

13,719,030

Interest-bearing checking

14,710,312

14,119,614

13,838,558

12,906,408

12,607,205

Savings

2,796,845

2,841,408

2,820,621

2,853,410

2,889,670

Money market

17,531,137

18,014,140

17,751,688

17,251,469

16,772,597

Time deposits

7,860,422

7,249,702

7,359,233

7,631,523

7,708,459

Total Deposits

$

56,349,810

$

55,875,663

$

55,145,797

$

54,073,269

$

53,696,961

Asset Quality

Ending Balance

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

(Dollars in thousands)

2026

2026

2025

2025

2025

NONPERFORMING ASSETS:

Non-acquired

Non-acquired nonaccrual loans and restructured loans on nonaccrual

$

171,264

$

177,158

$

161,975

$

146,751

$

141,910

Accruing loans past due 90 days or more

2,961

6,915

2,997

4,352

3,687

Non-acquired OREO and other nonperforming assets

11,722

8,339

5,273

11,969

17,288

Total non-acquired nonperforming assets

185,947

192,412

170,245

163,072

162,885

Acquired

Acquired nonaccrual loans and restructured loans on nonaccrual

99,352

116,002

135,179

149,695

151,466

Accruing loans past due 90 days or more

835

1,986

1,944

891

707

Acquired OREO and other nonperforming assets

1,254

18,155

3,901

7,147

8,783

Total acquired nonperforming assets

101,441

136,143

141,024

157,733

160,956

Total nonperforming assets

$

287,388

$

328,555

$

311,269

$

320,805

$

323,841

Three Months Ended

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

2026

2026

2025

2025

2025

ASSET QUALITY RATIOS (7):

Allowance for credit losses as a percentage of loans

1.15 %

1.18 %

1.20 %

1.24 %

1.31 %

Allowance for credit losses, including reserve for unfunded commitments,

as a percentage of loans

1.30 %

1.32 %

1.35 %

1.38 %

1.45 %

Allowance for credit losses as a percentage of nonperforming loans

213.79 %

193.96 %

193.71 %

195.61 %

208.57 %

Net charge-offs as a percentage of average loans (annualized)

0.06 %

0.09 %

0.09 %

0.27 %

0.21 %

Net charge-offs, excluding acquisition date charge-offs, as a percentage

  of average loans (annualized) *

0.06 %

0.09 %

0.09 %

0.27 %

0.06 %

Total nonperforming assets as a percentage of total assets

0.42 %

0.48 %

0.46 %

0.49 %

0.49 %

Nonperforming loans as a percentage of period end loans

0.54 %

0.61 %

0.62 %

0.63 %

0.63 %

*        Excluding acquisition date charge-offs recorded in connection with the Independent merger.

Current Expected Credit Losses ("CECL")

Below is a table showing the roll forward of the ACL and UFC for the second quarter of 2026:

Allowance for Credit Losses ("ACL") and Unfunded Commitments ("UFC")

(Dollars in thousands)

Non-PCD ACL

PCD ACL

Total ACL

UFC

Ending balance 3/31/2026

$

520,619

$

65,263

$

585,882

$

69,229

Charge offs

(10,335)

—

(10,335)

—

Acquired charge offs

(246)

(1,161)

(1,407)

—

Recoveries

2,150

—

2,150

—

Acquired recoveries

320

1,431

1,751

—

Provision for credit losses

13,984

(5,361)

8,623

7,296

Ending balance 6/30/2026

$

526,492

$

60,172

$

586,664

$

76,525

Period end loans

$

48,188,080

$

2,658,792

$

50,846,872

N/A

Allowance for Credit Losses to Loans

1.09 %

2.26 %

1.15 %

N/A

Unfunded commitments (off balance sheet) †

$

12,824,707

Reserve to unfunded commitments (off balance sheet)

0.60 %

†        Unfunded commitments exclude unconditionally cancelable commitments and letters of credit.

Conference Call

The Company will host a conference call to discuss its second quarter results at 9:00 a.m. Eastern Time on July 24, 2026.  Callers wishing to participate may call toll-free by dialing (833) 461-5787 within the US. The numbers for international participants are listed at https://help.events.q4inc.com/eahc/international-dial-in-numbers.  The conference ID number is 404525610.   Alternatively, individuals may listen to the live webcast of the presentation by visiting SouthStateBank.com.  A replay of the live webcast is expected to be available by the evening of July 24, 2026 on the Investor Relations section of SouthStateBank.com.

SouthState is a financial services company headquartered in Winter Haven, Florida. SouthState Bank, N.A., the company's nationally chartered bank subsidiary, provides consumer, commercial, mortgage and wealth management solutions to more than 1.8 million customers throughout Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, Virginia and Tennessee.  The bank also serves clients nationwide through its correspondent banking division.  Additional information is available at SouthStateBank.com.

Non-GAAP Measures

Statements included in this press release include non-GAAP measures and should be read along with the accompanying tables that provide a reconciliation of non-GAAP measures to GAAP measures.  Although other companies may use calculation methods that differ from those used by SouthState for non-GAAP measures, management believes that these non-GAAP measures provide additional useful information, which allows readers to evaluate the ongoing performance of the Company.  Non-GAAP measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider the Company's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company.  Non-GAAP measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results or financial condition as reported under GAAP.

(Dollars in thousands)

Three Months Ended

PRE-PROVISION NET REVENUE ("PPNR") (NON-GAAP)

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Net income (GAAP)

$

230,022

$

225,820

$

247,722

$

246,641

$

215,224

Provision for credit losses

15,919

10,808

6,605

5,085

7,505

Income tax provision

68,985

65,551

67,686

74,715

66,975

Merger, branch consolidation, severance related and other expense (8)

—

—

4,494

20,889

24,379

FDIC special assessment

—

—

(3,835)

—

—

Pre-provision net revenue (PPNR) (Non-GAAP)

$

314,926

$

302,179

$

322,672

$

347,330

$

314,083

(Dollars in thousands)

Three Months Ended

NET INTEREST MARGIN ("NIM"), TE (NON-GAAP)

Jun. 30, 2026

Mar. 31, 2026

Dec. 31, 2025

Sep. 30, 2025

Jun. 30, 2025

Net interest income (GAAP)

$

575,949

$

561,605

$

581,115

$

599,697

$

577,948

Total average interest-earning assets

61,133,759

60,201,176

59,872,113

58,727,110

57,710,001

NIM, non-tax equivalent

3.78

%

3.78

%

3.85

%

4.05

%

4.02

%

Tax equivalent adjustment (included in NIM, TE)

751

760

800

718

672

Net interest income, tax equivalent (Non-GAAP)

$

576,700

$

562,365

$

581,915

$

600,415

$

578,620

NIM, TE (Non-GAAP)

3.78

%

3.79

%

3.86

%

4.06

%

4.02

%

Three Months Ended

Six Months Ended

(Dollars in thousands, except per share data)

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

Jun. 30,

Jun. 30,

RECONCILIATION OF GAAP TO NON-GAAP

2026

2026

2025

2025

2025

2026

2025

Adjusted Net Income (non-GAAP) (2)

Net income (GAAP)

$

230,022

$

225,820

$

247,722

$

246,641

$

215,224

$

455,842

$

304,304

Securities losses, net of tax

—

—

—

—

—

—

178,639

Gain on sale leaseback, net of transaction costs and tax

—

—

—

—

—

—

(179,004)

PCL - Non-PCD loans and UFC, net of tax

—

—

—

—

—

—

71,892

Merger, branch consolidation, severance related and other expense,

net of tax (8)

—

—

3,529

16,032

18,593

—

71,687

Deferred tax asset remeasurement

—

—

—

—

—

—

5,581

FDIC special assessment, net of tax

—

—

(3,012)

—

—

—

—

Adjusted net income (non-GAAP)

$

230,022

$

225,820

$

248,239

$

262,673

$

233,817

$

455,842

$

453,099

Adjusted Net Income per Common Share - Basic (non-GAAP) (2)

Earnings per common share - Basic (GAAP)

$

2.36

$

2.29

$

2.48

$

2.44

$

2.12

$

4.66

$

3.00

Effect to adjust for securities losses, net of tax

—

—

—

—

—

—

1.76

Effect to adjust for gain on sale leaseback, net of transaction costs and tax

—

—

—

—

—

—

(1.76)

Effect to adjust for PCL - Non-PCD loans and UFC, net of tax

—

—

—

—

—

—

0.71

Effect to adjust for merger, branch consolidation, severance related

and other expense, net of tax (8)

—

—

0.03

0.16

0.18

—

0.70

Effect to adjust for deferred tax asset remeasurement

—

—

—

—

—

—

0.06

Effect to adjust for FDIC special assessment, net of tax

—

—

(0.03)

—

—

—

—

Adjusted net income per common share - Basic (non-GAAP)

$

2.36

$

2.29

$

2.48

$

2.60

$

2.30

$

4.66

$

4.47

Adjusted Net Income per Common Share - Diluted (non-GAAP) (2)

Earnings per common share - Diluted (GAAP)

$

2.35

$

2.28

$

2.46

$

2.42

$

2.11

$

4.64

$

2.99

Effect to adjust for securities losses, net of tax

—

—

—

—

—

—

1.76

Effect to adjust for gain on sale leaseback, net of transaction costs and tax

—

—

—

—

—

—

(1.76)

Effect to adjust for PCL - Non-PCD loans and UFC, net of tax

—

—

—

—

—

—

0.71

Effect to adjust for merger, branch consolidation, severance related

and other expense, net of tax (8)

—

—

0.04

0.16

0.19

—

0.70

Effect to adjust for deferred tax remeasurement

—

—

—

—

—

—

0.05

Effect to adjust for FDIC special assessment, net of tax

—

—

(0.03)

—

—

—

—

Adjusted net income per common share - Diluted (non-GAAP)

$

2.35

$

2.28

$

2.47

$

2.58

$

2.30

$

4.64

$

4.45

Adjusted Return on Average Assets (non-GAAP) (2)

Return on average assets (GAAP)

1.36

%

1.37

%

1.47

%

1.49

%

1.34

%

1.36

%

0.95

%

Effect to adjust for securities losses, net of tax

—

%

—

%

—

%

—

%

—

%

—

%

0.56

%

Effect to adjust for gain on sale leaseback, net of transaction costs and tax

—

%

—

%

—

%

—

%

—

%

—

%

(0.56)

%

Effect to adjust for PCL - Non-PCD loans and UFC, net of tax

—

%

—

%

—

%

—

%

—

%

—

%

0.23

%

Effect to adjust for merger, branch consolidation, severance related

and other expense, net of tax (8)

—

%

—

%

0.03

%

0.10

%

0.11

%

—

%

0.22

%

Effect to adjust for deferred tax remeasurement

—

%

—

%

—

%

—

%

—

%

—

%

0.02

%

Effect to adjust for FDIC special assessment, net of tax

—

%

—

%

(0.02)

%

—

%

—

%

—

%

—

%

Adjusted return on average assets (non-GAAP)

1.36

%

1.37

%

1.48

%

1.59

%

1.45

%

1.36

%

1.42

%

Adjusted Return on Average Common Equity (non-GAAP) (2)

Return on average common equity (GAAP)

10.19

%

10.11

%

10.90

%

11.04

%

9.93

%

10.15

%

7.17

%

Effect to adjust for securities losses, net of tax

—

%

—

%

—

%

—

%

—

%

—

%

4.21

%

Effect to adjust for gain on sale leaseback, net of transaction costs and tax

—

%

—

%

—

%

—

%

—

%

—

%

(4.22)

%

Effect to adjust for PCL - Non-PCD loans and UFC, net of tax

—

%

—

%

—

%

—

%

—

%

—

%

1.69

%

Effect to adjust for merger, branch consolidation, severance related

and other expense, net of tax (8)

—

%

—

%

0.15

%

0.71

%

0.86

%

—

%

1.70

%

Effect to adjust for deferred tax remeasurement

—

%

—

%

—

%

—

%

—

%

—

%

0.13

%

Effect to adjust for FDIC special assessment, net of tax

—

%

—

%

(0.13)

%

—

%

—

%

—

%

—

%

Adjusted return on average common equity (non-GAAP)

10.19

%

10.11

%

10.92

%

11.75

%

10.79

%

10.15

%

10.68

%

Return on Average Common Tangible Equity (non-GAAP) (3)

Return on average common equity (GAAP)

10.19

%

10.11

%

10.90

%

11.04

%

9.93

%

10.15

%

7.17

%

Effect to adjust for intangible assets

7.43

%

7.48

%

8.20

%

8.58

%

8.24

%

7.45

%

6.56

%

Return on average tangible equity (non-GAAP)

17.62

%

17.59

%

19.10

%

19.62

%

18.17

%

17.60

%

13.73

%

Adjusted Return on Average Common Tangible Equity (non-GAAP) (2) (3)

Return on average common equity (GAAP)

10.19

%

10.11

%

10.90

%

11.04

%

9.93

%

10.15

%

7.17

%

Effect to adjust for securities losses, net of tax

—

%

—

%

—

%

—

%

—

%

—

%

4.21

%

Effect to adjust for gain on sale leaseback, net of transaction costs and tax

—

%

—

%

—

%

—

%

—

%

—

%

(4.22)

%

Effect to adjust for PCL - Non-PCD loans and UFC, net of tax

—

%

—

%

—

%

—

%

—

%

—

%

1.69

%

Effect to adjust for merger, branch consolidation, severance related

and other expense, net of tax (8)

—

%

—

%

0.15

%

0.71

%

0.86

%

—

%

1.70

%

Effect to adjust for deferred tax remeasurement

—

%

—

%

—

%

—

%

—

%

—

%

0.13

%

Effect to adjust for FDIC special assessment, net of tax

—

%

—

%

(0.13)

%

—

%

—

%

—

%

—

%

Effect to adjust for intangible assets, net of tax

7.43

%

7.48

%

8.22

%

9.06

%

8.82

%

7.45

%

9.04

%

Adjusted return on average common tangible equity (non-GAAP)

17.62

%

17.59

%

19.14

%

20.81

%

19.61

%

17.60

%

19.72

%

Three Months Ended

Six Months Ended

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Jun. 30,

Jun. 30,

Jun. 30,

RECONCILIATION OF GAAP TO NON-GAAP

2026

2026

2025

2025

2025

2026

2025

Adjusted Efficiency Ratio (non-GAAP) (4)

Efficiency ratio

50.00

%

51.05

%

49.65

%

49.88

%

52.75

%

50.52

%

56.75

%

Effect to adjust for securities losses

—

%

—

%

—

%

—

%

—

%

—

%

(7.44)

%

Effect to adjust for gain on sale leaseback, net of transaction costs

—

%

—

%

—

%

—

%

—

%

—

%

7.46

%

Effect to adjust for merger, branch consolidation, severance related

and other expense, net of tax (8)

—

%

—

%

(0.65)

%

(2.99)

%

(3.66)

%

—

%

(7.12)

%

Effect to adjust for FDIC special assessment

—

%

—

%

0.56

%

—

%

—

%

—

%

—

%

Adjusted efficiency ratio (non-GAAP)

50.00

%

51.05

%

49.56

%

46.89

%

49.09

%

50.52

%

49.65

%

Tangible Book Value Per Common Share (non-GAAP) (3)

Book value per common share (GAAP)

$

94.17

$

92.21

$

91.38

$

89.14

$

86.71

Effect to adjust for intangible assets

(35.45)

(35.31)

(35.11)

(34.66)

(34.75)

Tangible book value per common share (non-GAAP)

$

58.72

$

56.90

$

56.27

$

54.48

$

51.96

Tangible Equity-to-Tangible Assets (non-GAAP) (3)

Equity-to-assets (GAAP)

13.25

%

13.28

%

13.48

%

13.64

%

13.36

%

Effect to adjust for intangible assets

(4.55)

%

(4.64)

%

(4.72)

%

(4.83)

%

(4.90)

%

Tangible equity-to-tangible assets (non-GAAP)

8.70

%

8.64

%

8.76

%

8.81

%

8.46

%

Certain prior period information has been reclassified to conform to the current period presentation, and these reclassifications have no impact on net income or equity as previously reported.

Footnotes to tables:

(1)

Includes loan accretion (interest) income related to the discount on acquired loans of $33.1 million, $38.8 million, $50.3 million, $83.0 million, and $63.5 million during the quarters ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively, and $71.8 million and $125.3 million during the six months ended June 30, 2026 and 2025, respectively.

(2)

Adjusted earnings, adjusted return on average assets, adjusted EPS, and adjusted return on average equity are non-GAAP measures and exclude the gains or losses on sales of securities, gain on sale leaseback, net of transaction costs, PCL on non-PCD loans and unfunded commitments, deferred tax asset remeasurement, merger, branch consolidation, severance related and other expense, and FDIC special assessments.  Management believes that non-GAAP adjusted measures provide additional useful information that allows readers to evaluate the ongoing performance of the Company.  Non-GAAP measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider the Company's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company.  Non-GAAP measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results or financial condition as reported under GAAP.  Adjusted earnings and the related adjusted return measures (non-GAAP) exclude the following from net income (GAAP) on an after-tax basis: (a) pre-tax merger, branch consolidation, severance related and other expense of $4.5 million, $20.9 million, and $24.4 million for the quarters ended December 31, 2025, September 30, 2025, and June 30, 2025, respectively, and $92.4 million during the six months ended June 30, 2025; (b) pre-tax net securities losses of $(228.8) million for the six months ended June 30, 2025; (c) pre-tax gain on sale leaseback, net of transaction costs of $229.3 million for the six months ended June 30, 2025; (d) pre-tax PCL on non-PCD loans and unfunded commitments of $92.1 million for the six months ended June 30, 2025; (e) pre-tax FDIC special assessment of $(3.8) million for the quarter ended December 31, 2025; and (f) deferred tax asset remeasurement of $5.6 million for the six months ended June 30, 2025.

(3)

The tangible measures are non-GAAP measures and exclude the effect of period end or average balance of intangible assets.  The tangible returns on equity and common equity measures also add back the after-tax amortization of intangibles to GAAP basis net income.  Management believes that these non-GAAP tangible measures provide additional useful information, particularly since these measures are widely used by industry analysts for companies with prior merger and acquisition activities.  Non-GAAP measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider the Company's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company.  Non-GAAP measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results or financial condition as reported under GAAP. The sections titled "Reconciliation of GAAP to Non-GAAP" provide tables that reconcile GAAP measures to non-GAAP.

(4)

Adjusted efficiency ratio is calculated by taking the noninterest expense excluding transaction costs on merger, branch consolidation, severance related and other expenses, FDIC special assessment, and amortization of intangible assets, divided by net interest income and noninterest income excluding gains (losses) on sales of securities, net, and gain on sale leaseback, net of transaction costs.  The pre-tax amortization expenses of intangible assets were $21.0 million, $21.3 million, $23.4 million, $23.4 million, and $24.0 million for the quarters ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively, and $42.3 million and $47.9 million for the six months ended June 30, 2026 and 2025, respectively.

(5)

The dividend payout ratio is calculated by dividing total dividends paid during the period by the total net income for the same period.

(6)

June 30, 2026 ratios are estimated and may be subject to change pending the final filing of the FR Y-9C; all other periods are presented as filed. 

(7)

Loan data excludes loans held for sale.

(8)

Includes pre-tax cyber incident net reimbursement of $(3.6) million for the quarters ended June 30, 2025 and $(3.5) million for the six months ended June 30, 2025.

Cautionary Statement Regarding Forward Looking Statements

Statements included in this communication contain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of management of SouthState Bank Corporation ("SouthState") and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward looking statements.

Factors that could cause SouthState's actual results to differ materially from those described in the forward looking statements are discussed in SouthState's Annual Report on Form 10 K for the year ended December 31, 2025, filed with the Securities and Exchange Commission and available on SouthState's website (https://southstatecorporation.q4ir.com/SEC-Filings/Documents/default.aspx), and on the Securities and Exchange Commission's website (www.sec.gov). SouthState undertakes no obligation to update any forward looking statements.

SOURCE SouthState Bank Corporation

Posted by Defense World Staff on Jul 18th, 2026

Allspring Global Investments Holdings LLC lessened its stake in SouthState Bank Corporation (NYSE:SSB – Free Report) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,078,066 shares of the company’s stock after selling 77,007 shares during the period. Allspring Global Investments Holdings LLC owned about 1.10% of SouthState Bank worth $100,918,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nicholas Hoffman & Company LLC. boosted its holdings in SouthState Bank by 0.7% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 16,527 shares of the company’s stock valued at $1,555,000 after acquiring an additional 111 shares in the last quarter. HB Wealth Management LLC grew its stake in SouthState Bank by 0.7% in the first quarter. HB Wealth Management LLC now owns 18,045 shares of the company’s stock worth $1,670,000 after purchasing an additional 129 shares during the period. MML Investors Services LLC lifted its position in SouthState Bank by 5.9% during the fourth quarter. MML Investors Services LLC now owns 2,360 shares of the company’s stock valued at $222,000 after buying an additional 131 shares during the period. FourThought Financial Partners LLC boosted its holdings in shares of SouthState Bank by 5.8% during the 4th quarter. FourThought Financial Partners LLC now owns 2,544 shares of the company’s stock valued at $239,000 after buying an additional 139 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of SouthState Bank by 5.0% in the 1st quarter. Inspire Investing LLC now owns 3,641 shares of the company’s stock worth $337,000 after acquiring an additional 172 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades Several analysts recently weighed in on SSB shares. DA Davidson restated a “buy” rating and issued a $125.00 price target on shares of SouthState Bank in a research note on Wednesday, June 10th. Truist Financial cut their price objective on shares of SouthState Bank from $110.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Hovde Group lifted their target price on shares of SouthState Bank from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. TD Cowen decreased their price target on SouthState Bank from $117.00 to $114.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their price target on SouthState Bank from $115.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.50.

Check Out Our Latest Stock Report on SouthState Bank

SouthState Bank Stock Performance NYSE SSB opened at $103.06 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.93 and a quick ratio of 0.92. SouthState Bank Corporation has a 1-year low of $84.47 and a 1-year high of $108.46. The business has a 50 day simple moving average of $97.00 and a two-hundred day simple moving average of $97.47. The stock has a market capitalization of $10.07 billion, a PE ratio of 11.12 and a beta of 0.70.

SouthState Bank (NYSE:SSB – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.07. SouthState Bank had a net margin of 24.75% and a return on equity of 10.81%. The company had revenue of $661.70 million for the quarter, compared to analysts’ expectations of $669.28 million. During the same quarter in the previous year, the business posted $0.87 earnings per share. On average, research analysts predict that SouthState Bank Corporation will post 9.51 EPS for the current fiscal year.

SouthState Bank Dividend Announcement The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, May 8th. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. SouthState Bank’s dividend payout ratio (DPR) is presently 25.89%.

Insider Transactions at SouthState Bank In other SouthState Bank news, Director David R. Brooks sold 14,300 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $98.39, for a total value of $1,406,977.00. Following the transaction, the director directly owned 12,700 shares in the company, valued at $1,249,553. This represents a 52.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

SouthState Bank Company Profile (Free Report)

SouthState Bank (NYSE: SSB) is a bank holding company headquartered in Winter Haven, Florida, that provides a range of commercial and retail banking services. Through its subsidiary, SouthState Bank, the company serves businesses, institutions and individuals with deposit, lending and treasury management solutions. Its core business lines include commercial and industrial loans, commercial real estate lending, consumer mortgages and home equity loans.

In addition to traditional lending and deposit products, SouthState Bank offers specialized services such as treasury and cash management, merchant services, payment solutions and online banking.

Read More Five stocks we like better than SouthState Bank AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident GE Aerospace Faces a Prove-It Moment in Q2 Earnings Want to see what other hedge funds are holding SSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SouthState Bank Corporation (NYSE:SSB – Free Report).

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Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- SouthState Bank Corporation (NYSE: SSB) ("SouthState" or the "Company") announced today that it will release second quarter 2026 earnings results on Thursday, July 23, 2026, after the market closes. Upon release, investors may access a copy of SouthState's earnings results at the Company's website at www.SouthStateBank.com under Investor Relations, News, News & Market Data section.

SouthState will host a conference call on Friday, July 24, 2026 at 9:00 a.m. (ET) to discuss its second quarter 2026 results. Investors may call in (toll free) by dialing (833) 461-5787 within the US (host: Will Matthews, CFO). The conference ID number is 404525610. The numbers for international participants are listed at https://help.events.q4inc.com/eahc/international-dial-in-numbers. Participants may also pre-register for the conference by navigating to https://events.q4inc.com/attendee/404525610. Access detail will be provided via email upon completion of registration. 

Alternatively, individuals may listen to the live webcast of the presentation by visiting the link at SouthState's website at www.SouthStateBank.com. A replay of the live webcast is expected to be available by the evening of July 24, 2026 through the Investor Relations section of www.SouthStateBank.com.

SOURCE SouthState Bank Corporation

Also from this source

Key Takeaways SouthState's revenues saw an 18.7% CAGR over five years, driven by strong loan and income expansion.SSB's NII rose at a 22.7% CAGR, supported by loan growth, restructuring and favorable deposit pricing.SSB expects 2026 loan growth in mid to upper-single digits, with steady margins and asset expansion. SouthState Corp.’s (SSB - Free Report) organic growth has been driven by steady expansion in its lending activities, a diversified fee-income base and proactive balance-sheet management. The company’s revenues witnessed a five-year (2020-2025) compound annual growth rate (CAGR) of 18.7%.

The company’s loans saw a CAGR of 14.7% over the same time frame. Notably, the net loan book grew substantially due to the Independent Bank acquisition. This steady loan growth has been a key contributor to higher net interest income (NII), forming a strong foundation for the company’s overall revenue expansion. NII witnessed a CAGR of 22.7% over the last five years ending 2025, driven by the securities restructuring and better-than-expected deposit pricing.  

Going forward, the Federal Reserve’s interest rate cuts are likely to create a more favorable lending environment that could support SSB’s loan growth. This will also aid NII growth.

SSB generates a meaningful portion of its revenues from non-interest (fee-based) income, which complements traditional lending income. Non-interest income witnessed a CAGR of 4% over the past five years ended 2025. A key driver of fee revenue growth is the company’s mortgage banking and wealth management segments. Over time, SSB expanded fee income streams through acquisitions and new business lines, particularly in correspondent banking and capital markets. The company has guided for continued expansion, targeting further increases in non-interest income through investment in revenue-generating businesses.

Overall, continued loan growth, improving NII and expansion in fee-based businesses are expected to support SouthState’s revenue growth in the coming periods.

SSB’s Growth OutlookThe company expects average interest-earning assets between $61 billion and $62 billion in 2026. NIM is expected to be 3.80-3.90%.

Loan growth is projected to be in the mid to upper-single-digit range in 2026, supported by sustained pipeline strength.

The Zacks Consensus Estimate of SSB’s 2026 and 2027 revenue suggests rallies of 2.7% and 7.4%, respectively.

Sales Estimates

Image Source: Zacks Investment Research
 

SSB’s Price Performance & Zacks RankIn the past year, SouthState shares have declined 3.4% against the industry’s 3.4% growth.

Price Performance

Image Source: Zacks Investment Research

Currently, SSB carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

How Have SSB’s Peers Been Performing?Webster Financial (WBS - Free Report) is also witnessing solid organic growth. NII witnessed a CAGR of 17.4% over the last six years (2019-2025). Looking ahead, NII is expected to improve, supported by the Federal Reserve's recent rate cuts, which should help stabilize funding and deposit costs. The company's efforts to strengthen its balance sheet and reposition its securities portfolio will also drive NII growth.

Webster Financial’s deposits and loans recorded a six-year (2019-2025) CAGR of 24% and 23%, respectively.  The acquisition of Ametros (in January 2024) benefited the company by diversifying its portfolio of low-cost and long-duration deposits. Management expects Ametros to grow deposits, seeing a 25% CAGR over the next five years. 

BOK Financial (BOKF - Free Report) has been witnessing continuous growth, driven by solid loan growth and a rise in NII.

Total loans witnessed a CAGR of 4.3% in the last seven years (2018-2025). Deposits have shown a rising trend, seeing a CAGR of 11.8% for the same time frame.  BOK Financial’s NII witnessed a five-year CAGR of 2.4% (ended 2025).  BOK Financial is expected to benefit from lower funding costs and sustained asset yields, supporting further improvement in NII. 

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- SouthState Bank Corporation (NYSE: SSB) ("SouthState" or the "Company") announced today that it will release first quarter 2026 earnings results on Thursday, April 23, 2026, after the market closes. Upon release, investors may access a copy of SouthState's earnings results at the Company's website at www.SouthStateBank.com under Investor Relations, News, News & Market Data section.

SouthState will host a conference call on Friday, April 24, 2026 at 9:00 a.m. (ET) to discuss its first quarter 2026 results. Investors may call in (toll free) by dialing (888) 350-3899 within the US and (646) 960-0343 for all other locations (host: Will Matthews, CFO). The conference ID number is 4200408. The numbers for international participants are listed at https://events.q4irportal.com/custom/access/2324/. Participants may also pre-register for the conference by navigating to https://events.q4inc.com/attendee/361570488. Access detail will be provided via email upon completion of registration. 

Alternatively, individuals may listen to the live webcast of the presentation by visiting the link at SouthState's website at www.SouthStateBank.com. An audio replay of the live webcast is expected to be available by the evening of April 24, 2026 through the Investor Relations section of www.SouthStateBank.com.

SOURCE SouthState Bank Corporation

Also from this source

Wall Street analysts expect SouthState (SSB - Free Report) to post quarterly earnings of $2.22 per share in its upcoming report, which indicates a year-over-year increase of 3.3%. Revenues are expected to be $674.57 million, up 7% from the year-ago quarter.

The consensus EPS estimate for the quarter has been revised 0.9% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

That said, let's delve into the average estimates of some SouthState metrics that Wall Street analysts commonly model and monitor.

Analysts' assessment points toward 'Efficiency Ratio' reaching 53.0%. Compared to the present estimate, the company reported 61.0% in the same quarter last year.

It is projected by analysts that the 'Net Interest Margin (Non-Tax Equivalent)' will reach 3.8%. Compared to the present estimate, the company reported 3.8% in the same quarter last year.

Analysts forecast 'Average Balance - Total interest-earning assets' to reach $60.46 billion. The estimate compares to the year-ago value of $57.50 billion.

The consensus estimate for 'Total nonperforming assets' stands at $309.16 million. The estimate compares to the year-ago value of $280.44 million.

According to the collective judgment of analysts, 'Total nonperforming loans (non-acquired & acquired)' should come in at $303.90 million. The estimate compares to the year-ago value of $272.17 million.

Based on the collective assessment of analysts, 'Net Interest Income' should arrive at $573.29 million. Compared to the present estimate, the company reported $544.55 million in the same quarter last year.

The average prediction of analysts places 'Total Noninterest Income' at $101.29 million. Compared to the current estimate, the company reported $86.09 million in the same quarter of the previous year.

The collective assessment of analysts points to an estimated 'Net interest income, tax equivalent (Non-GAAP)' of $571.85 million. Compared to the current estimate, the company reported $545.33 million in the same quarter of the previous year.

The consensus among analysts is that 'Trust and investment services income' will reach $14.96 million. Compared to the present estimate, the company reported $14.93 million in the same quarter last year.

The combined assessment of analysts suggests that 'Fees on deposit accounts' will likely reach $43.00 million. The estimate compares to the year-ago value of $35.93 million.

Analysts predict that the 'Mortgage banking income' will reach $5.26 million. Compared to the current estimate, the company reported $7.74 million in the same quarter of the previous year.

Analysts expect 'Total correspondent banking and capital market income' to come in at $22.12 million. Compared to the present estimate, the company reported $9.55 million in the same quarter last year.

View all Key Company Metrics for SouthState here>>>

Shares of SouthState have experienced a change of +10.5% in the past month compared to the +9.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), SSB is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .