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RICHMOND, Va.--(BUSINESS WIRE)--Kinsale Capital Group Reports Second Quarter 2026 Results.

, /PRNewswire/ -- The Otis Worldwide Corporation (NYSE: OTIS) Board of Directors today declared a quarterly dividend of $0.44 per share of Otis' common stock. The dividend will be payable on September 11, 2026, to shareholders of record at the close of business on August 14, 2026.

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation, service and modernization of elevators and escalators, we move 2.5 billion people a day and maintain approximately 2.5 million customer units worldwide – the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 72,000 people strong, including 45,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, YouTube, Instagram and Facebook @OtisElevatorCo.

Cautionary Statement

This release includes statements related to anticipated earnings, cash flow and dividends that constitute "forward-looking statements" under the securities laws. All forward-looking statements involve risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Past dividends provide no assurance as to future dividends. The payment and amount of future dividends could vary significantly from past amounts due to a number of risks and uncertainties. Risks and uncertainties include: (1) the effect of economic conditions in the industries and markets in which Otis and its businesses operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, future availability of credit and factors that may affect such availability or costs (including tighter credit conditions), levels of end market demand in construction, pandemic health issues, natural disasters and the financial condition of Otis' customers and suppliers; (2) risks associated with indebtedness; (3) challenges in the development and production of new products and services; and (4) the effect of changes in laws and regulations, political conditions and geopolitical conflicts in countries in which we operate and other factors beyond our control. The above list of factors is not exhaustive or necessarily in order of importance. For additional information on identifying factors that may cause actual results to vary from those stated in forward-looking statements, see the reports of Otis on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Otis assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Otis Worldwide Corporation

Snap-on Incorporated (SNA) Q2 2026 Earnings Call July 23, 2026 10:00 AM EDT

Company Participants

Sara Verbsky - Vice President of Investor Relations
Nicholas Pinchuk - Chairman, CEO & President
Aldo Pagliari - Senior VP of Finance & CFO

Conference Call Participants

David S. MacGregor - Longbow Research LLC
Christopher Glynn - Oppenheimer & Co. Inc., Research Division
Scott Stember - ROTH Capital Partners, LLC, Research Division
Gary Prestopino - Barrington Research Associates, Inc., Research Division
Bret Jordan - Jefferies LLC, Research Division

Presentation

Operator

Good day, and welcome to the Snap-on Incorporated 2026 Second Quarter Results Conference Call. [Operator Instructions] Please note that this event is being recorded. I would now like to turn the call over to Sara Verbsky, Vice President, Investor Relations. Please go ahead.

Sara Verbsky
Vice President of Investor Relations

Thank you, Cole, and good morning, everyone. We appreciate you joining us today as we review Snap-on's second quarter results, which are detailed in our press release issued earlier this morning. We have on the call Nick Pinchuk, Snap-on's Chief Executive Officer; and Aldo Pagliari, Snap-on's Chief Financial Officer.

Nick will kick off our call this morning with his perspective on our performance. Aldo will then provide a more detailed review of the financial results. After Nick provides some closing thoughts, we'll take your questions.

As usual, we provided slides to supplement our discussion. These slides can be accessed under the Downloads tab in the webcast viewer as well as on our website, snapon.com, under the Investors section. The slides will be archived on our website along with the transcript of today's call. Any statements made during this call relative to management's expectations, estimates or beliefs or that otherwise discuss management's or the company's outlook, plans or projections are forward-looking statements and actual results may differ materially from those made in such statements. Additional information and the factors

, /PRNewswire/ --

FMC Corporation (NYSE: FMC) announced today that its board of directors declared a regular quarterly dividend of 8 cents per share, payable on October 15, 2026, to shareholders of record as of the close of business on September 30, 2026.   

About FMC

FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers and crop advisers to address their toughest challenges economically while protecting the environment. FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit fmc.com to learn more and follow us on LinkedIn®.

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: FMC and its representatives may from time to time make written or oral statements that are "forward-looking" and provide other than historical information, including statements contained in this press release, in FMC's other filings with the SEC, and in presentations, reports or letters to FMC stockholders.

In some cases, FMC has identified these forward-looking statements by such words or phrases as "outlook", "will likely result," "is confident that," "expect," "expects," "should," "could," "may," "will continue to," "believe," "believes," "anticipates," "predicts," "forecasts," "estimates," "projects," "potential," "intends" or similar expressions identifying "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are qualified by reference to the risk factors included in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), the section captioned "Forward-Looking Information" in Part II of the 2025 Form 10-K and to similar risk factors and cautionary statements in all other reports and forms filed with the Securities and Exchange Commission ("SEC"). We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.  Forward-looking statements are qualified in their entirety by the above cautionary statement.

We specifically decline to undertake any obligation, and specifically disclaims any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.

SOURCE FMC Corporation

Match Group Inc (NASDAQ:MTCH)'s Tinder is showing tentative signs of improving user trends, but Jefferies said it remains too early to call a turnaround.

The brokerage said Match Group's most recent quarter showed early signs of improvement in new user registrations and monthly active user (MAU) declines, a trend that appears to have held up based on third-party MAU and download data.

Jefferies added that Tinder revenue and payers could outperform Street estimates this year if user givebacks come in lower than budgeted.

Still, the firm cautioned that it does not view recent product changes as materially altering Tinder's trajectory.

Jefferies is modeling Match Group's second-quarter total revenue down 1% year-over-year and Tinder payers down 110,000 quarter-over-quarter, largely in line with Street estimates and guidance. The firm sees possible upside toward the high end of guidance if a guided roughly $20 million Azar headwind and roughly $10 million Tinder UX testing impact prove less severe than expected.

Third-quarter revenue is expected to worsen to down 2% year-over-year as Tinder user givebacks pick up in the second half, with Jefferies modeling a 5% year-over-year decline in Tinder payers for the rest of the year. The firm noted Match Group still has roughly $45 million of givebacks budgeted after using less than expected earlier in the year, meaning payer declines could be more modest than expected if givebacks again come in below plan.

Jefferies also continues to expect revenue pressure from Azar's lower-monetizing relaunch over coming quarters.

While Match Group is targeting flat Tinder MAU growth by the end of 2027, Jefferies said it remains skeptical that incremental changes like branding refreshes and feature launches can drive a durable turnaround.

Jefferies called recent Tinder product changes, including Double Date, Astrology Mode and new event formats, helpful but still early. It does not expect the recent Tinder rebrand to materially shift user growth trends.

The firm remains concerned about structural challenges in the dating category and made no changes to its estimates. Its price target is based on 8x FY27 EBITDA, with a Hold rating and $35 price target on the stock.

Key Takeaways QuidelOrtho is poised for growth on its strong product portfolio and cost-saving progress.QDEL's Labs business leads first-quarter revenues, with Immunohematology and Point of Care adding support.Respiratory testing remains a key swing factor as lower demand pressures revenues and margins. QuidelOrtho Corporation (QDEL - Free Report) is well-poised for growth in the coming quarters, courtesy of its strong product portfolio. The optimism, led by mixed first-quarter 2026 results, is expected to contribute further, along with progress in cost-saving initiatives. However, risks due to overdependence on the respiratory business persist.

This Zacks Rank #2 (Buy) company has lost 41.6% in the year-to-date period compared with the 21.8% decline of the industry. The S&P 500 has witnessed 9.5% growth in the said time frame.

The renowned rapid diagnostic testing solutions provider has a market capitalization of $1.12 billion. QuidelOrtho’s earnings yield of 11.4% compares favorably with the industry’s 3.1%. The company surpassed the Zacks Consensus Estimate in two of the trailing four quarters, missed once and met estimates once, delivering an average negative surprise of 15.7%.

Image Source: Zacks Investment Research

Factors Favoring QDEL’s GrowthRobust Product Portfolio: QuidelOrtho’s diversified portfolio across Labs, Immunohematology, Point of Care and Molecular Diagnostics helps cushion demand fluctuations across testing categories. In the first quarter of 2026, Labs remained the largest revenue contributor at $353.1 million, followed by Immunohematology at $138.3 million and Point of Care at $112.8 million.

The company's Sofia platform and QuickVue franchise continue to provide scale in respiratory testing, with management noting stable market share during the quarter. For 2026, QuidelOrtho expects a typical flu season and stable testing protocols, with guidance based on a 50-55 million annual flu testing market and flat COVID-related revenues compared with 2025.

Growth initiatives remain focused on menu expansion and international penetration, with the U.S. launch of its high-sensitivity troponin assay already reaching more than 300 customer shipments and the rollout of the VITROS 450 system targeting lower-volume laboratories, which management believes can drive mid-single-digit long-term growth in the Labs business.

Progress on Cost-Saving Initiatives: QuidelOrtho is leveraging restructuring and productivity initiatives to expand margins and support investments in new platforms. In first-quarter 2026, adjusted operating expenses declined 2% year over year, led by a 19% reduction in R&D spending, while management reaffirmed its full-year adjusted EBITDA margin target of approximately 23%.

Through its Optimization Plan, the company is pursuing procurement efficiencies, facility consolidation and distribution rationalization, expecting around $50 million in net cost savings through 2027 despite cumulative pre-tax charges of about $100 million. QuidelOrtho is also implementing supply-chain measures to offset tariff-related cost pressures, while the wind-down of its U.S. Donor Screening business, expected to be substantially complete by mid-2026, and normalized working capital are projected to support stronger free cash flow generation in the second half of 2026.

Mixed Q1 Results: QuidelOrtho ended the first quarter of 2026 with mixed results, where revenues surpassed the Zacks Consensus Estimate, but earnings missed significantly. The company continued to witness strength in its Labs and Immunohematology business units, while solid growth across Latin America and resilient performance in EMEA and JPAC were encouraging.

However, persistent weakness in respiratory testing continued to weigh heavily on the top line, with Point of Care and Donor Screening businesses also posting sharp declines. The company’s bottom line deteriorated year over year, while gross and operating margins contracted significantly due to lower volumes and an unfavorable business mix.

Factors That May Offset QDEL’s GainsOverdependence on Respiratory Segment:  Respiratory testing remains a key swing factor for QuidelOrtho’s revenues and profitability despite the post-pandemic reset. First-quarter 2026 results were pressured by a milder and shorter respiratory season, with influenza-like illness visits declining roughly 30% year over year and respiratory revenues totaling $68 million. While management indicated that testing protocols and market share remained stable, suggesting the weakness was demand-driven rather than competitive, the lower respiratory contribution reduced product mix and contributed to a 630-basis point decline in adjusted gross margin.

For 2026, the company assumes a 50-55 million annual flu market and flat COVID revenues compared with 2025, but still expects full-year respiratory revenues to decline, implying that even modest shifts in seasonality or testing volumes could continue to create significant variability in quarterly results and cash generation.

Estimate TrendQuidelOrtho is witnessing a negative estimate revision trend for 2026. In the past 30 days, the Zacks Consensus Estimate for earnings has moved south to $1.87 per share.

The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pegged at $614.6 million, indicating 0.12% growth from the year-ago quarter’s reported number.

Other Key PicksSome other top-ranked stocks from the broader medical space are West Pharmaceutical (WST - Free Report) , Intuitive Surgical (ISRG - Free Report) and Cardinal Health (CAH - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

West Pharmaceutical reported first-quarter 2026 earnings per share (EPS) of $2.13, which beat the Zacks Consensus Estimate by 26.8%. Revenues of $844.9 million surpassed the Zacks Consensus Estimate by 8.5%.

West Pharmaceutical has an estimated long-term earnings growth rate of 13.9%. WST’s earnings surpassed estimates in the trailing four quarters, the average surprise being 19.4%.

Intuitive Surgical reported first-quarter 2026 adjusted EPS of $2.50, which beat the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion surpassed the Zacks Consensus Estimate by 6.2%.

Intuitive Surgical has an estimated long-term earnings growth rate of 14.3%. ISRG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 16.8%.

Cardinal Health reported a third-quarter fiscal 2026 adjusted EPS of $3.17, which beat the Zacks Consensus Estimate by 13.2%. Revenues of $60.94 billion missed the Zacks Consensus Estimate by 2.3%.

Cardinal Health has an estimated long-term earnings growth rate of 17%. CAH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 10.3%.

LOS ANGELES, July 23, 2026 (GLOBE NEWSWIRE) -- Glancy Prongay Wolke & Rotter LLP reminds investors of the upcoming August 28, 2026 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Hub Group, Inc. (“Hub Group” or the “Company”) (NASDAQ: HUBG) securities between April 28, 2023 and May 11, 2026, inclusive (the “Class Period”).

LOS ANGELES, July 23, 2026 (GLOBE NEWSWIRE) -- Glancy Prongay Wolke & Rotter LLP reminds investors of the upcoming August 31, 2026 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Insulet Corporation (“Insulet” or the “Company”) (NASDAQ: PODD) securities between February 21, 2025 and May 26, 2026, inclusive (the “Class Period”).

Ameriprise Financial, Inc. (AMP) Q2 2026 Earnings Call July 23, 2026 8:30 AM EDT

Company Participants

Stephanie Rabe - Head of Investor Relations
Jim Cracchiolo - Chairman & CEO
Walter Berman - Executive VP, CFO & Chief Risk Officer

Conference Call Participants

Brennan Hawken - BMO Capital Markets Equity Research
Craig Siegenthaler - BofA Securities, Research Division
Crispin Love - Piper Sandler & Co., Research Division
Wilma Jackson Burdis - Raymond James & Associates, Inc., Research Division
Thomas Gallagher - Evercore ISI Institutional Equities, Research Division
Ryan Krueger - Keefe, Bruyette, & Woods, Inc., Research Division
Suneet Kamath - Jefferies LLC, Research Division

Presentation

Operator

Welcome to the Second Quarter 2026 Earnings Call. My name is Rebecca, and I will be your operator for today's call. [Operator Instructions] As a reminder, the conference is being recorded. I will now turn the call over to Stephanie Rabe. Stephanie, you may begin.

Stephanie Rabe
Head of Investor Relations

Welcome to Ameriprise Financial's Second Quarter Earnings Call. On the call with me today are Jim Cracchiolo, Chairman and CEO; and Walter Berman, Chief Financial Officer. Following their remarks, we'd be happy to take your questions. Turning to our earnings presentation materials that are available on our website. On Slide 2, you will see a discussion of forward-looking statements. Specifically, during the call, you'll hear references to various non-GAAP financial measures. which we believe provide insight into our company's operations. Reconciliation of non-GAAP numbers to their respective GAAP numbers can be found in today's materials and on our website at ir.ameriprise.com.

Some statements that we make on this call may be forward-looking, reflecting management's expectations about future events and overall operating plans and performance. These forward-looking statements speak only as of today's date and involve a number of risks and uncertainties. A sample list of factors and risks that could cause actual results

LIBERTY LAKE, Wash., July 23, 2026 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, announced today that it will participate virtually in the Oppenheimer 29th Annual Technology, Internet & Communications Conference to be held Aug. 11, 2026.

, /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