SouthState Corporation Reports Second Quarter 2025 Results, Declares an Increase in the Quarterly Cash Dividend

7/24/25 3:28:00 PM ET

Major Banks

Finance

Get the next $SSB alert in real time by email

WINTER HAVEN, Fla., July 24, 2025 /PRNewswire/ -- SouthState 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, 2025.

"Growth accelerated in the second quarter," said John C. Corbett, SouthState's Chief Executive Officer. "Revenue grew 22% annualized and loan originations grew 57% quarter over quarter. Most importantly, we completed the successful conversion of the IBTX franchise and our teams in Texas and Colorado are excited about the future. The strategic moves we've made are generating strong returns that enabled us to increase our dividend by 11% and to fund organic growth."

Highlights of the second quarter of 2025 include:

Returns

Reported Diluted Earnings per Share ("EPS") of $2.11; Adjusted Diluted EPS (Non-GAAP) of $2.30
Net Income of $215.2 million; Adjusted Net Income (Non-GAAP) of $233.8 million
Return on Average Common Equity of 9.9%; Return on Average Tangible Common Equity (Non-GAAP) of 18.2% and Adjusted Return on Average Tangible Common Equity (Non-GAAP) of 19.6%*
Return on Average Assets ("ROAA") of 1.34% and Adjusted ROAA (Non-GAAP) of 1.45%*
Book Value per Share of $86.71; Tangible Book Value ("TBV") per Share (Non-GAAP) of $51.96

Performance

Net Interest Income of $578 million
Net Interest Margin ("NIM"), non-tax equivalent and tax equivalent (Non-GAAP), of 4.02%
Net charge-offs totaled $7.2 million, or 0.06%*, excluding $17.3 million of acquisition date charge-offs related to measurement period adjustments on PCD loans acquired from Independent Bank Group, Inc. ("Independent"), which were recorded during the quarter to align these loans in accordance with SouthState policies and practices
$7.5 million of Provision for Credit Losses ("PCL"); total Allowance for Credit Losses ("ACL") plus reserve for unfunded commitments of 1.45% of loans
Noninterest Income of $87 million; Noninterest Income represented 0.54% of average assets for the second quarter of 2025*
Efficiency Ratio of 53% and Adjusted Efficiency Ratio (Non-GAAP) of 49%

Balance Sheet

Loans increased by $501 million, or 4%*, and deposits increased by $359 million, or 3%*; ending loan to deposit ratio of 88%
Total loan yield of 6.33%, up 0.08% from prior quarter
Total deposit cost of 1.84%, down 0.05% from prior quarter
Completed the issuance of $350 million aggregate principal amount of 7% fixed-to-floating rate subordinated notes
Strong capital position with Tangible Common Equity, Total Risk-Based Capital, Tier 1 Leverage, and Tier 1 Common Equity ratios of 8.5%, 14.5%, 9.2%, and 11.2%, respectively†

∗ Annualized percentages

† Preliminary

Subsequent Events

The Board of Directors of the Company increased its quarterly cash dividend on its common stock from $0.54 per share to $0.60 per share; the dividend is payable on August 15, 2025 to shareholders of record as of August 8, 2025

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	2025		2025		2024		2024		2024		2025		2024
Interest Income
Loans, including fees (1)	$	746,448	$	724,640	$	489,709	$	494,082	$	478,360	$	1,471,088	$	942,048
Investment securities, trading securities, federal funds sold and securities
purchased under agreements to resell		94,056		83,926		59,096		50,096		52,764		177,982		106,331
Total interest income		840,504		808,566		548,805		544,178		531,124		1,649,070		1,048,379
Interest Expense
Deposits		241,593		245,957		168,263		177,919		165,481		487,550		325,643
Federal funds purchased, securities sold under agreements
to repurchase, and other borrowings		20,963		18,062		10,763		14,779		15,384		39,025		28,541
Total interest expense		262,556		264,019		179,026		192,698		180,865		526,575		354,184
Net Interest Income		577,948		544,547		369,779		351,480		350,259		1,122,495		694,195
Provision (recovery) for credit losses		7,505		100,562		6,371		(6,971)		3,889		108,067		16,575
Net Interest Income after Provision (Recovery) for Credit Losses		570,443		443,985		363,408		358,451		346,370		1,014,428		677,620
Noninterest Income
Operating income		86,817		85,620		80,595		74,934		75,225		172,437		146,783
Securities losses, net		—		(228,811)		(50)		—		—		(228,811)		—
Gain on sale leaseback, net of transaction costs		—		229,279		—		—		—		229,279		—
Total noninterest income		86,817		86,088		80,545		74,934		75,225		172,905		146,783
Noninterest Expense
Operating expense		350,682		340,820		250,699		243,543		242,343		691,502		483,266
Merger, branch consolidation, severance related and other expense (8)		24,379		68,006		6,531		3,304		5,785		92,385		10,298
FDIC special assessment		—		—		(621)		—		619		—		4,473
Total noninterest expense		375,061		408,826		256,609		246,847		248,747		783,887		498,037
Income before Income Tax Provision		282,199		121,247		187,344		186,538		172,848		403,446		326,366
Income tax provision		66,975		32,167		43,166		43,359		40,478		99,142		78,940
Net Income	$	215,224	$	89,080	$	144,178	$	143,179	$	132,370	$	304,304	$	247,426
‌
Adjusted Net Income (non-GAAP) (2)
Net Income (GAAP)	$	215,224	$	89,080	$	144,178	$	143,179	$	132,370	$	304,304	$	247,426
Securities losses, net of tax		—		178,639		38		—		—		178,639		—
Gain on sale leaseback, net of transaction costs and tax		—		(179,004)		—		—		—		(179,004)		—
Initial provision for credit losses - Non-PCD loans and UFC from Independent, net of tax		—		71,892		—		—		—		71,892		—
Merger, branch consolidation, severance related and other expense, net of tax (8)		18,593		53,094		5,026		2,536		4,430		71,687		7,812
Deferred tax asset remeasurement		—		5,581		—		—		—		5,581		—
FDIC special assessment, net of tax		—		—		(478)		—		474		—		3,362
Adjusted Net Income (non-GAAP)	$	233,817	$	219,282	$	148,764	$	145,715	$	137,274	$	453,099	$	258,600
‌
Basic earnings per common share	$	2.12	$	0.88	$	1.89	$	1.88	$	1.74	$	3.00	$	3.24
Diluted earnings per common share	$	2.11	$	0.87	$	1.87	$	1.86	$	1.73	$	2.99	$	3.23
Adjusted net income per common share - Basic (non-GAAP) (2)	$	2.30	$	2.16	$	1.95	$	1.91	$	1.80	$	4.47	$	3.39
Adjusted net income per common share - Diluted (non-GAAP) (2)	$	2.30	$	2.15	$	1.93	$	1.90	$	1.79	$	4.45	$	3.37
Dividends per common share	$	0.54	$	0.54	$	0.54	$	0.54	$	0.52	$	1.08	$	1.04
Basic weighted-average common shares outstanding		101,495,456		101,409,624		76,360,935		76,299,069		76,251,401		101,452,777		76,276,406
Diluted weighted-average common shares outstanding		101,845,360		101,828,600		76,957,882		76,805,436		76,607,281		101,835,756		76,629,796
Effective tax rate		23.73 %		26.53 %		23.04 %		23.24 %		23.42 %		24.57 %		24.19 %
Adjusted effective tax rate		23.73 %		21.93 %		23.04 %		23.24 %		23.42 %		23.19 %		24.19 %

Performance and Capital Ratios

	Three Months Ended															Six Months Ended
	Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Jun. 30,		Jun. 30,
	2025			2025			2024			2024			2024			2025		2024
PERFORMANCE RATIOS
Return on average assets (annualized)		1.34	%		0.56	%		1.23	%		1.25	%		1.17	%	0.95	%	1.10	%
Adjusted return on average assets (annualized) (non-GAAP) (2)		1.45	%		1.38	%		1.27	%		1.27	%		1.22	%	1.42	%	1.15	%
Return on average common equity (annualized)		9.93	%		4.29	%		9.72	%		9.91	%		9.58	%	7.17	%	8.97	%
Adjusted return on average common equity (annualized) (non-GAAP) (2)		10.79	%		10.56	%		10.03	%		10.08	%		9.94	%	10.68	%	9.38	%
Return on average tangible common equity (annualized) (non-GAAP) (3)		18.17	%		8.99	%		15.09	%		15.63	%		15.49	%	13.73	%	14.57	%
Adjusted return on average tangible common equity (annualized) (non-GAAP) (2) (3)		19.61	%		19.85	%		15.56	%		15.89	%		16.05	%	19.72	%	15.20	%
Efficiency ratio (tax equivalent)		52.75	%		60.97	%		55.73	%		56.58	%		57.03	%	56.75	%	57.75	%
Adjusted efficiency ratio (non-GAAP) (4)		49.09	%		50.24	%		54.42	%		55.80	%		55.52	%	49.65	%	55.99	%
Dividend payout ratio (5)		25.47	%		61.45	%		28.58	%		28.76	%		29.93	%	36.00	%	32.02	%
Book value per common share	$	86.71		$	84.99		$	77.18		$	77.42		$	74.16
Tangible book value per common share (non-GAAP) (3)	$	51.96		$	50.07		$	51.11		$	51.26		$	47.90
‌
CAPITAL RATIOS
Equity-to-assets		13.4	%		13.2	%		12.7	%		12.8	%		12.4	%
Tangible equity-to-tangible assets (non-GAAP) (3)		8.5	%		8.2	%		8.8	%		8.9	%		8.4	%
Tier 1 leverage (6)		9.2	%		8.9	%		10.0	%		10.0	%		9.7	%
Tier 1 common equity (6)		11.2	%		11.0	%		12.6	%		12.4	%		12.1	%
Tier 1 risk-based capital (6)		11.2	%		11.0	%		12.6	%		12.4	%		12.1	%
Total risk-based capital (6)		14.5	%		13.7	%		15.0	%		14.7	%		14.4	%

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	2025		2025		2024		2024		2024
Assets
Cash and due from banks	$	755,798	$	688,153	$	525,506	$	563,887	$	507,425
Federal funds sold and interest-earning deposits with banks		2,708,308		2,611,537		866,561		648,792		609,741
Cash and cash equivalents		3,464,106		3,299,690		1,392,067		1,212,679		1,117,166
‌
Trading securities, at fair value		95,306		107,401		102,932		87,103		92,161
Investment securities:
Securities held to maturity		2,145,991		2,195,980		2,254,670		2,301,307		2,348,528
Securities available for sale, at fair value		5,927,867		5,853,369		4,320,593		4,564,363		4,498,264
Other investments		357,487		345,695		223,613		211,458		201,516
Total investment securities		8,431,345		8,395,044		6,798,876		7,077,128		7,048,308
Loans held for sale		318,985		357,918		279,426		287,043		100,007
Loans:
Purchased credit deteriorated		3,409,186		3,634,490		862,155		913,342		957,255
Purchased non-credit deteriorated		12,492,553		13,084,853		3,635,782		3,959,028		4,253,323
Non-acquired		31,365,508		30,047,389		29,404,990		28,675,822		28,023,986
Less allowance for credit losses		(621,046)		(623,690)		(465,280)		(467,981)		(472,298)
Loans, net		46,646,201		46,143,042		33,437,647		33,080,211		32,762,266
Premises and equipment, net		964,878		946,334		502,559		507,452		517,382
Bank owned life insurance		1,280,632		1,273,472		1,013,209		1,007,275		1,001,998
Mortgage servicing rights		85,836		87,742		89,795		83,512		88,904
Core deposit and other intangibles		433,458		455,443		66,458		71,835		77,389
Goodwill		3,094,059		3,088,059		1,923,106		1,923,106		1,923,106
Other assets		1,078,516		981,309		775,129		745,303		765,283
Total assets	$	65,893,322	$	65,135,454	$	46,381,204	$	46,082,647	$	45,493,970
‌
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing	$	13,719,030	$	13,757,255	$	10,192,117	$	10,376,531	$	10,374,464
Interest-bearing		39,977,931		39,580,360		27,868,749		27,261,664		26,723,938
Total deposits		53,696,961		53,337,615		38,060,866		37,638,195		37,098,402
Federal funds purchased and securities
sold under agreements to repurchase		630,558		679,337		514,912		538,322		542,403
Other borrowings		1,099,705		752,798		391,534		691,626		691,719
Reserve for unfunded commitments		64,693		62,253		45,327		41,515		50,248
Other liabilities		1,600,271		1,679,090		1,478,150		1,268,409		1,460,795
Total liabilities		57,092,188		56,511,093		40,490,789		40,178,067		39,843,567
‌
Shareholders' equity:
Common stock - $2.50 par value; authorized 160,000,000 shares		253,745		253,698		190,805		190,674		190,489
Surplus		6,679,028		6,667,277		4,259,722		4,249,672		4,238,192
Retained earnings		2,240,470		2,080,053		2,046,809		1,943,874		1,841,933
Accumulated other comprehensive loss		(372,109)		(376,667)		(606,921)		(479,640)		(620,211)
Total shareholders' equity		8,801,134		8,624,361		5,890,415		5,904,580		5,650,403
Total liabilities and shareholders' equity	$	65,893,322	$	65,135,454	$	46,381,204	$	46,082,647	$	45,493,970
‌
Common shares issued and outstanding		101,498,000		101,479,065		76,322,206		76,269,577		76,195,723

Net Interest Income and Margin

	Three Months Ended
	Jun. 30, 2025					Mar. 31, 2025					Jun. 30, 2024
(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	$	1,884,133	$	19,839	4.22 %	$	2,199,800	$	22,540	4.16 %	$	732,252	$	8,248	4.53 %
Investment securities		8,513,439		74,217	3.50 %		8,325,775		61,386	2.99 %		7,226,582		44,516	2.48 %
Loans held for sale		283,017		4,829	6.84 %		174,833		3,678	8.53 %		63,307		1,018	6.47 %
Total loans held for investment		47,029,412		741,619	6.33 %		46,797,045		720,962	6.25 %		32,989,521		477,342	5.82 %
Total interest-earning assets		57,710,001		840,504	5.84 %		57,497,453		808,566	5.70 %		41,011,662		531,124	5.21 %
Noninterest-earning assets		6,840,880					6,785,973					4,416,072
Total Assets	$	64,550,881				$	64,283,426				$	45,427,734
‌
Interest-Bearing Liabilities ("IBL"):
Transaction and money market accounts	$	28,986,998	$	173,481	2.40 %	$	29,249,014	$	176,949	2.45 %	$	19,653,436	$	120,722	2.47 %
Savings deposits		2,921,780		2,012	0.28 %		2,904,961		1,944	0.27 %		2,504,809		1,830	0.29 %
Certificates and other time deposits		7,177,451		66,100	3.69 %		7,165,188		67,064	3.80 %		4,286,950		42,929	4.03 %
Federal funds purchased		360,588		3,943	4.39 %		323,400		3,479	4.36 %		270,028		3,621	5.39 %
Repurchase agreements		287,341		1,462	2.04 %		298,305		1,430	1.94 %		270,815		1,362	2.02 %
Other borrowings		821,545		15,558	7.60 %		812,136		13,153	6.57 %		715,401		10,401	5.85 %
Total interest-bearing liabilities		40,555,703		262,556	2.60 %		40,753,004		264,019	2.63 %		27,701,439		180,865	2.63 %
Noninterest-bearing deposits		13,643,265					13,493,329					10,566,529
Other noninterest-bearing liabilities		1,659,331					1,618,981					1,605,296
Shareholders' equity		8,692,582					8,418,112					5,554,470
Total Non-IBL and shareholders' equity		23,995,178					23,530,422					17,726,295
Total Liabilities and Shareholders' Equity	$	64,550,881				$	64,283,426				$	45,427,734
Net Interest Income and Margin (Non-Tax Equivalent)			$	577,948	4.02 %			$	544,547	3.84 %			$	350,259	3.43 %
Net Interest Margin (Tax Equivalent) (non-GAAP)					4.02 %					3.85 %					3.44 %
Total Deposit Cost (without Debt and Other Borrowings)					1.84 %					1.89 %					1.80 %
Overall Cost of Funds (including Demand Deposits)					1.94 %					1.97 %					1.90 %
‌
Total Accretion on Acquired Loans (1)			$	63,507				$	61,798				$	4,386
Tax Equivalent ("TE") Adjustment			$	672				$	784				$	631

The remaining loan discount on acquired loans to be accreted into loan interest income totals $392.8 million as of June 30, 2025.

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)	2025		2025		2024		2024		2024		2025		2024
Noninterest Income:
Fees on deposit accounts	$	37,869	$	35,933	$	35,121	$	33,986	$	33,842	$	73,802	$	66,987
Mortgage banking income		5,936		7,737		4,777		3,189		5,912		13,673		12,081
Trust and investment services income		14,419		14,932		12,414		11,578		11,091		29,351		21,482
Correspondent banking and capital markets income		19,161		16,715		20,905		17,381		16,267		35,876		30,858
Expense on centrally-cleared variation margin		(5,394)		(7,170)		(7,350)		(7,488)		(11,407)		(12,564)		(21,687)
Total correspondent banking and capital markets income		13,767		9,545		13,555		9,893		4,860		23,312		9,171
Bank owned life insurance income		9,153		10,199		7,944		8,276		7,372		19,352		14,264
Other		5,673		7,275		6,784		8,012		12,148		12,947		22,798
Securities losses, net		—		(228,811)		(50)		—		—		(228,811)		—
Gain on sale leaseback, net of transaction costs		—		229,279		—		—		—		229,279		—
Total Noninterest Income	$	86,817	$	86,088	$	80,545	$	74,934	$	75,225	$	172,905	$	146,783
‌
Noninterest Expense:
Salaries and employee benefits	$	200,162	$	195,811	$	154,116	$	150,865	$	151,435	$	395,973	$	301,888
Occupancy expense		41,507		35,493		22,831		22,242		22,453		77,000		45,030
Information services expense		30,155		31,362		23,416		23,280		23,144		61,517		45,497
OREO and loan related expense		2,295		1,784		1,416		1,358		1,307		4,079		1,913
Business development and staff related		7,182		6,510		6,777		5,542		5,942		13,692		11,464
Amortization of intangibles		24,048		23,831		5,326		5,327		5,744		47,879		11,742
Professional fees		4,658		4,709		5,366		4,017		3,906		9,367		7,021
Supplies and printing expense		3,970		3,128		2,729		2,762		2,526		7,098		5,066
FDIC assessment and other regulatory charges		11,469		11,258		7,365		7,482		7,771		22,727		16,305
Advertising and marketing		3,010		2,290		2,269		2,296		2,594		5,300		4,578
Other operating expenses		22,226		24,644		19,088		18,372		15,521		46,870		32,762
Merger, branch consolidation, severance related and other expense (8)		24,379		68,006		6,531		3,304		5,785		92,385		10,298
FDIC special assessment		—		—		(621)		—		619		—		4,473
Total Noninterest Expense	$	375,061	$	408,826	$	256,609	$	246,847	$	248,747	$	783,887	$	498,037

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)	2025		2025		2024		2024		2024
Construction and land development * †	$	3,323,923	$	3,497,909	$	2,184,327	$	2,458,151	$	2,592,307
Investor commercial real estate*		16,953,410		16,822,119		9,991,482		9,856,709		9,731,773
Commercial owner occupied real estate		7,497,906		7,417,116		5,716,376		5,544,716		5,522,978
Commercial and industrial		8,445,878		8,106,484		6,222,876		5,931,187		5,769,838
Consumer real estate *		10,038,369		9,838,952		8,714,969		8,649,714		8,440,724
Consumer/other		1,007,761		1,084,152		1,072,897		1,107,715		1,176,944
Total Loans	$	47,267,247	$	46,766,732	$	33,902,927	$	33,548,192	$	33,234,564

	‌
*	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 $371.1 million, $343.5 million, $386.2 million, $429.8 million, and $544.2 million for the quarters ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively.
	‌

	Ending Balance
(Dollars in thousands)	Jun. 30,		Mar. 31,		Dec. 31,		Sep. 30,		Jun. 30,
DEPOSITS	2025		2025		2024		2024		2024
Noninterest-bearing checking	$	13,719,030	$	13,757,255	$	10,192,116	$	10,376,531	$	10,374,464
Interest-bearing checking		12,607,205		12,034,973		8,232,322		7,550,392		7,547,406
Savings		2,889,670		2,939,407		2,414,172		2,442,584		2,475,130
Money market		16,772,597		17,447,738		13,056,534		12,614,046		12,122,336
Time deposits		7,708,459		7,158,242		4,165,722		4,654,642		4,579,066
Total Deposits	$	53,696,961	$	53,337,615	$	38,060,866	$	37,638,195	$	37,098,402
‌
Core Deposits (excludes Time Deposits)	$	45,988,502	$	46,179,373	$	33,895,144	$	32,983,553	$	32,519,336

Asset Quality

	Ending Balance
	Jun. 30,		Mar. 31,		Dec. 31,		Sep. 30,		Jun. 30,
(Dollars in thousands)	2025		2025		2024		2024		2024
NONPERFORMING ASSETS:
Non-acquired
Non-acquired nonaccrual loans and restructured loans on nonaccrual	$	141,910	$	151,673	$	141,982	$	111,240	$	110,774
Accruing loans past due 90 days or more		3,687		3,273		3,293		6,890		5,843
Non-acquired OREO and other nonperforming assets		17,288		2,290		1,182		1,217		2,876
Total non-acquired nonperforming assets		162,885		157,236		146,457		119,347		119,493
Acquired
Acquired nonaccrual loans and restructured loans on nonaccrual		151,466		116,691		65,314		70,731		78,287
Accruing loans past due 90 days or more		707		537		-		389		916
Acquired OREO and other nonperforming assets		8,783		5,976		1,583		493		598
Total acquired nonperforming assets		160,956		123,204		66,897		71,613		79,801
Total nonperforming assets	$	323,841	$	280,440	$	213,354	$	190,960	$	199,294
‌
	Three Months Ended
	Jun. 30,		Mar. 31,		Dec. 31,		Sep. 30,		Jun. 30,
	2025		2025		2024		2024		2024
ASSET QUALITY RATIOS (7):
Allowance for credit losses as a percentage of loans		1.31 %		1.33 %		1.37 %		1.39 %		1.42 %
Allowance for credit losses, including reserve for unfunded commitments,
as a percentage of loans		1.45 %		1.47 %		1.51 %		1.52 %		1.57 %
Allowance for credit losses as a percentage of nonperforming loans		208.57 %		229.15 %		220.94 %		247.28 %		241.19 %
Net charge-offs as a percentage of average loans (annualized)		0.21 %		0.38 %		0.06 %		0.07 %		0.05 %
Net charge-offs, excluding acquisition date charge-offs, as a percentage
of average loans (annualized) *		0.06 %		0.04 %		0.06 %		0.07 %		0.05 %
Total nonperforming assets as a percentage of total assets		0.49 %		0.43 %		0.46 %		0.41 %		0.44 %
Nonperforming loans as a percentage of period end loans		0.63 %		0.58 %		0.62 %		0.56 %		0.59 %

	‌
*	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 2025:

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

(Dollars in thousands)

Non-PCD ACL

PCD ACL

Total ACL

UFC

Ending balance 3/31/2025

526,615

97,075

623,690

62,253

ACL - PCD loans from Independent #

—

16,798

—

Acquisition date charge-offs on acquired PCD loans - Independent * #

—

(17,259)

—

Charge offs

(11,736)

—

(11,736)

—

Acquired charge offs

(187)

(42)

(229)

—

Recoveries

2,174

—

2,174

—

Acquired recoveries

566

1,978

2,544

—

Provision for credit losses

17,582

(12,518)

5,064

2,440

Ending balance 6/30/2025

535,014

86,032

621,046

64,693

‌

Period end loans

43,858,061

3,409,186

47,267,247

N/A

Allowance for Credit Losses to Loans

1.22 %

2.52 %

1.31 %

N/A

Unfunded commitments (off balance sheet) †

10,935,239

Reserve to unfunded commitments (off balance sheet)

0.59 %

	‌
^#	"ACL – PCD loans from Independent" and "Acquisition date charge-offs on acquired PCD loans – Independent" include measurement period adjustments recorded during the second quarter of 2025.
	‌
*	Acquisition date charge-offs recorded in connection with the Independent merger, to conform with the Company's charge-off policies and practices.
	‌
†	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 25, 2025. Callers wishing to participate may call toll-free by dialing (888) 350-3899 within the US and (646) 960-0343 for all other locations. The numbers for international participants are listed at https://events.q4irportal.com/custom/access/2324/. The conference ID number is 4200408. Alternatively, individuals may listen to the live webcast of the presentation by visiting SouthStateBank.com. An audio replay of the live webcast is expected to be available by the evening of July 25, 2025 on the Investor Relations section of SouthStateBank.com.

SouthState is a financial services company headquartered in Winter Haven, Florida. SouthState Bank, N.A. (the "Bank"), the Company's nationally chartered bank subsidiary, provides consumer, commercial, mortgage and wealth management solutions to more than one million customers throughout Florida, Alabama, Georgia, the Carolinas, Virginia, Texas and Colorado. The Bank also serves clients coast to coast 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, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Jun. 30, 2024
Net income (GAAP)	$	215,224		$	89,080		$	144,178		$	143,179		$	132,370
Provision (recovery) for credit losses		7,505			100,562			6,371			(6,971)			3,889
Income tax provision		66,975			26,586			43,166			43,359			40,478
Income tax provision - deferred tax asset remeasurement		—			5,581			—			—			—
Securities losses, net		—			228,811			50			—			—
Gain on sale leaseback, net of transaction costs		—			(229,279)			—			—			—
Merger, branch consolidation, severance related and other expense (8)		24,379			68,006			6,531			3,304			5,785
FDIC special assessment		—			—			(621)			—			619
Pre-provision net revenue (PPNR) (Non-GAAP)	$	314,083		$	289,347		$	199,675		$	182,871		$	183,141
‌
(Dollars in thousands)	Three Months Ended
NET INTEREST MARGIN ("NIM"), TE (NON-GAAP)	Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Jun. 30, 2024
Net interest income (GAAP)	$	577,948		$	544,547		$	369,779		$	351,480		$	350,259
Total average interest-earning assets		57,710,001			57,497,453			42,295,376			41,223,980			41,011,662
NIM, non-tax equivalent		4.02	%		3.84	%		3.48	%		3.39	%		3.43	%
‌
Tax equivalent adjustment (included in NIM, TE)		672			784			547			486			631
Net interest income, tax equivalent (Non-GAAP)	$	578,620		$	545,331		$	370,326		$	351,966		$	350,890
NIM, TE (Non-GAAP)		4.02	%		3.85	%		3.48	%		3.40	%		3.44	%

	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	2025			2025			2024			2024			2024			2025			2024
Adjusted Net Income (non-GAAP) (2)
Net income (GAAP)	$	215,224		$	89,080		$	144,178		$	143,179		$	132,370		$	304,304		$	247,426
Securities losses, net of tax		—			178,639			38			—			—			178,639			—
Gain on sale leaseback, net of transaction costs and tax		—			(179,004)			—			—			—			(179,004)			—
PCL - Non-PCD loans and UFC, net of tax		—			71,892			—			—			—			71,892			—
Merger, branch consolidation, severance related and other expense, net of tax (8)		18,593			53,094			5,026			2,536			4,430			71,687			7,812
Deferred tax asset remeasurement		—			5,581			—			—			—			5,581			—
FDIC special assessment, net of tax		—			—			(478)			—			474			—			3,362
Adjusted net income (non-GAAP)	$	233,817		$	219,282		$	148,764		$	145,715		$	137,274		$	453,099		$	258,600
‌
Adjusted Net Income per Common Share - Basic (non-GAAP) (2)
Earnings per common share - Basic (GAAP)	$	2.12		$	0.88		$	1.89		$	1.88		$	1.74		$	3.00		$	3.24
Effect to adjust for securities losses, net of tax		—			1.76			0.00			—			—			1.76			—
Effect to adjust for gain on sale leaseback, net of transaction costs and tax		—			(1.77)			—			—			—			(1.76)			—
Effect to adjust for PCL - Non-PCD loans and UFC, net of tax		—			0.71			—			—			—			0.71			—
Effect to adjust for merger, branch consolidation, severance related and other expense, net of tax (8)		0.18			0.52			0.07			0.03			0.05			0.70			0.11
Effect to adjust for deferred tax asset remeasurement		—			0.06			—			—			—			0.06			—
Effect to adjust for FDIC special assessment, net of tax		—			—			(0.01)			—			0.01			—			0.04
Adjusted net income per common share - Basic (non-GAAP)	$	2.30		$	2.16		$	1.95		$	1.91		$	1.80		$	4.47		$	3.39
‌
Adjusted Net Income per Common Share - Diluted (non-GAAP) (2)
Earnings per common share - Diluted (GAAP)	$	2.11		$	0.87		$	1.87		$	1.86		$	1.73		$	2.99		$	3.23
Effect to adjust for securities losses, net of tax		—			1.76			0.00			—			—			1.76			—
Effect to adjust for gain on sale leaseback, net of transaction costs and tax		—			(1.76)			—			—			—			(1.76)			—
Effect to adjust for PCL - Non-PCD loans and UFC, net of tax		—			0.71			—			—			—			0.71			—
Effect to adjust for merger, branch consolidation, severance related and other expense, net of tax (8)		0.19			0.52			0.07			0.04			0.05			0.70			0.10
Effect to adjust for deferred tax remeasurement		—			0.05			—			—			—			0.05			—
Effect to adjust for FDIC special assessment, net of tax		—			—			(0.01)			—			0.01			—			0.04
Adjusted net income per common share - Diluted (non-GAAP)	$	2.30		$	2.15		$	1.93		$	1.90		$	1.79		$	4.45		$	3.37
‌
Adjusted Return on Average Assets (non-GAAP) (2)
Return on average assets (GAAP)		1.34	%		0.56	%		1.23	%		1.25	%		1.17	%		0.95	%		1.10	%
Effect to adjust for securities losses, net of tax		—	%		1.13	%		0.00	%		—	%		—	%		0.56	%		—	%
Effect to adjust for gain on sale leaseback, net of transaction costs and tax		—	%		(1.13)	%		—	%		—	%		—	%		(0.56)	%		—	%
Effect to adjust for PCL - Non-PCD loans and UFC, net of tax		—	%		0.45	%		—	%		—	%		—	%		0.23	%		—	%
Effect to adjust for merger, branch consolidation, severance related and other expense, net of tax (8)		0.11	%		0.33	%		0.04	%		0.02	%		0.05	%		0.22	%		0.04	%
Effect to adjust for deferred tax remeasurement		—	%		0.04	%		—	%		—	%		—	%		0.02	%		—	%
Effect to adjust for FDIC special assessment, net of tax		—	%		—	%		(0.00)	%		—	%		0.00	%		—	%		0.01	%
Adjusted return on average assets (non-GAAP)		1.45	%		1.38	%		1.27	%		1.27	%		1.22	%		1.42	%		1.15	%
‌
Adjusted Return on Average Common Equity (non-GAAP) (2)
Return on average common equity (GAAP)		9.93	%		4.29	%		9.72	%		9.91	%		9.58	%		7.17	%		8.97	%
Effect to adjust for securities losses, net of tax		—	%		8.61	%		0.00	%		—	%		—	%		4.21	%		—	%
Effect to adjust for gain on sale leaseback, net of transaction costs and tax		—	%		(8.63)	%		—	%		—	%		—	%		(4.22)	%		—	%
Effect to adjust for PCL - Non-PCD loans and UFC, net of tax		—	%		3.46	%		—	%		—	%		—	%		1.69	%		—	%
Effect to adjust for merger, branch consolidation, severance related and other expense, net of tax (8)		0.86	%		2.56	%		0.34	%		0.17	%		0.33	%		1.70	%		0.29	%
Effect to adjust for deferred tax remeasurement		—	%		0.27	%		—	%		—	%		—	%		0.13	%		—	%
Effect to adjust for FDIC special assessment, net of tax		—	%		—	%		(0.03)	%		—	%		0.03	%		—	%		0.12	%
Adjusted return on average common equity (non-GAAP)		10.79	%		10.56	%		10.03	%		10.08	%		9.94	%		10.68	%		9.38	%
‌
Return on Average Common Tangible Equity (non-GAAP) (3)
Return on average common equity (GAAP)		9.93	%		4.29	%		9.72	%		9.91	%		9.58	%		7.17	%		8.97	%
Effect to adjust for intangible assets		8.24	%		4.70	%		5.37	%		5.72	%		5.91	%		6.56	%		5.60	%
Return on average tangible equity (non-GAAP)		18.17	%		8.99	%		15.09	%		15.63	%		15.49	%		13.73	%		14.57	%
‌
Adjusted Return on Average Common Tangible Equity (non-GAAP) (2) (3)
Return on average common equity (GAAP)		9.93	%		4.29	%		9.72	%		9.91	%		9.58	%		7.17	%		8.97	%
Effect to adjust for securities losses, net of tax		—	%		8.61	%		0.00	%		—	%		—	%		4.21	%		—	%
Effect to adjust for gain on sale leaseback, net of transaction costs and tax		—	%		(8.63)	%		—	%		—	%		—	%		(4.22)	%		—	%
Effect to adjust for PCL - Non-PCD loans and UFC, net of tax		—	%		3.46	%		—	%		—	%		—	%		1.69	%		—	%
Effect to adjust for merger, branch consolidation, severance related and other expense, net of tax (8)		0.86	%		2.56	%		0.34	%		0.18	%		0.32	%		1.70	%		0.28	%
Effect to adjust for deferred tax remeasurement		—	%		0.27	%		—	%		—	%		—	%		0.13	%		—	%
Effect to adjust for FDIC special assessment, net of tax		—	%		—	%		(0.03)	%		—	%		0.03	%		—	%		0.12	%
Effect to adjust for intangible assets, net of tax		8.82	%		9.29	%		5.53	%		5.80	%		6.12	%		9.04	%		5.83	%
Adjusted return on average common tangible equity (non-GAAP)		19.61	%		19.85	%		15.56	%		15.89	%		16.05	%		19.72	%		15.20	%

	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	2025			2025			2024			2024			2024			2025			2024
Adjusted Efficiency Ratio (non-GAAP) (4)
Efficiency ratio		52.75	%		60.97	%		55.73	%		56.58	%		57.03	%		56.75	%		57.75	%
Effect to adjust for securities losses		—	%		(13.35)	%		—	%		—	%		—	%		(7.44)	%		—
Effect to adjust for gain on sale leaseback, net of transaction costs		—	%		13.39	%		—	%		—	%		—	%		7.46	%		—
Effect to adjust for merger, branch consolidation, severance related and other expense (8)		(3.66)	%		(10.77)	%		(1.45)	%		(0.78)	%		(1.36)	%		(7.12)	%		(1.23)	%
Effect to adjust for FDIC special assessment		—	%		—	%		0.14	%		—	%		(0.15)	%		—	%		(0.53)	%
Adjusted efficiency ratio		49.09	%		50.24	%		54.42	%		55.80	%		55.52	%		49.65	%		55.99	%
‌
Tangible Book Value Per Common Share (non-GAAP) (3)
Book value per common share (GAAP)	$	86.71		$	84.99		$	77.18		$	77.42		$	74.16
Effect to adjust for intangible assets		(34.75)			(34.92)			(26.07)			(26.16)			(26.26)
Tangible book value per common share (non-GAAP)	$	51.96		$	50.07		$	51.11		$	51.26		$	47.90
‌
Tangible Equity-to-Tangible Assets (non-GAAP) (3)
Equity-to-assets (GAAP)		13.36	%		13.24	%		12.70	%		12.81	%		12.42	%
Effect to adjust for intangible assets		(4.90)	%		(4.99)	%		(3.91)	%		(3.94)	%		(4.03)	%
Tangible equity-to-tangible assets (non-GAAP)		8.46	%		8.25	%		8.79	%		8.87	%		8.39	%

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 $63.5 million, $61.8 million, $2.9 million, $2.9 million, and $4.4 million during the quarters ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively, and $125.3 million and $8.7 million during the six months ended June 30, 2025 and 2024, 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 $24.4 million, $68.0 million, $6.5 million, $3.3 million, and $5.8 million for the quarters ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively, and $92.4 million and $10.3 million for the six months ended June 30, 2025 and 2024, respectively; (b) pre-tax net securities losses of $(228,811) and $(50,000) for the quarters ended March 31, 2025 and December 31, 2024, respectively, and $(228,811) for the six months ended June 30, 2025; (c) pre-tax gain on sale leaseback, net of transaction costs of $229,279 for the quarter ended March 31, 2025 and for the six months ended June 30, 2025; (d) pre-tax FDIC special assessment of $(621,000) and $619,000 for the quarters ended December 31, 2024, and June 30, 2024, respectively, and $4.5 million for the six months ended June 30, 2024; and (e) deferred tax asset remeasurement of $5.6 million for the quarter ended March 31, 2025 and 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 sale leaseback, merger, branch consolidation, severance related and other expenses 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 $24.0 million, $23.8 million, $5.3 million, $5.3 million, and $5.7 million for the quarters ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively and $47.9 million and $11.7 million for the six months ended June 30, 2025 and 2024, 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, 2025 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)/costs of $(3.6) million, $111,000, $329,000, $56,000, and $3.5 million for the quarters ended June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively, and $(3.5) million, and $7.9 million for the six months ended June 30, 2025 and 2024, respectively.

Cautionary Statement Regarding Forward Looking Statements

Statements included in this communication, which are not historical in nature are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on, among other things, management's beliefs, assumptions, current expectations, estimates and projections about the financial services industry, the economy and SouthState. Words and phrases such as "may," "approximately," "continue," "should," "expects," "projects," "anticipates," "is likely," "look ahead," "look forward," "believes," "will," "intends," "estimates," "strategy," "plan," "could," "potential," "possible" and variations of such words and similar expressions are intended to identify such forward-looking statements.

SouthState cautions readers that forward looking statements are subject to certain risks, uncertainties and assumptions that are difficult to predict with regard to, among other things, timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks, uncertainties and assumptions, include, among others, the following: (1) economic volatility risk, including as a result of monetary, fiscal, and trade law policies, such as tariffs, and inflation, potentially resulting in higher rates, deterioration in the credit markets, greater than expected noninterest expenses, excessive loan losses, or on the other hand lower rates, which also may have other negative consequences, which risks could be exacerbated by potential negative economic developments resulting from federal spending cuts and/or one or more federal budget-related impasses or actions; (2) risks related to the ability of the Company to pursue its strategic plans which depend upon certain growth goals in our lines of business; (3) risks related to the merger and integration of SouthState and Independent including, among others, (i) the risk that the cost savings and any revenue synergies from the merger may not be fully realized or may take longer than anticipated to be realized, (ii) the risk that the integration of Independent's operations into SouthState's operations will be materially delayed or will be more costly or difficult than expected or that the parties are otherwise unable to successfully integrate Independent's businesses into SouthState's businesses, (iii) the amount of the costs, fees, expenses and charges related to the merger, and (iv) reputational risk and the reaction of each company's customers, suppliers, employees or other business partners to the merger; (4) risks relating to the ability to retain our culture and attract and retain qualified people as we grow and are located in new markets, and being able to offer competitive salaries and benefits, including flexibility of working remotely or in the office; (5) deposit attrition, client loss or revenue loss following completed mergers or acquisitions that may be greater than anticipated; (6) credit risks associated with an obligor's failure to meet the terms of any contract with the Bank or otherwise fail to perform as agreed under the terms of any loan-related document; (7) interest rate risk primarily resulting from our inability to effectively manage the risk, and their impact on the Bank's earnings, including from the correspondent and mortgage divisions, housing demand, the market value of the Bank's loan and securities portfolios, and the market value of SouthState's equity; (8) a decrease in our net interest income due to the interest rate environment; (9) liquidity risk affecting the Bank's ability to meet its obligations when they come due; (10) unexpected outflows of uninsured deposits may require us to sell investment securities at a loss; (11) potential deterioration in real estate values; (12) the loss of value of our investment portfolio could negatively impact market perceptions of us and could lead to deposit withdrawals; (13) price risk focusing on changes in market factors that may affect the value of traded instruments in "mark-to-market" portfolios; (14) transaction risk arising from problems with service or product delivery; (15) the impact of increasing digitization of the banking industry and movement of customers to on-line platforms, and the possible impact on the Bank's results of operations, customer base, expenses, suppliers and operations; (16) controls and procedures risk, including the potential failure or circumvention of our controls and procedures or failure to comply with regulations related to controls and procedures; (17) volatility in the financial services industry (including failures or rumors of failures of other depository institutions), along with actions taken by governmental agencies to address such turmoil, could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; (18) the impact of competition with other financial institutions, including deposit and loan pricing pressures and the resulting impact, including as a result of compression to net interest margin; (19) compliance risk involving risk to earnings or capital resulting from violations of or nonconformance with laws, rules, regulations, prescribed practices, or ethical standards, and contractual obligations regarding data privacy and cybersecurity; (20) regulatory change risk resulting from new laws, rules, regulations, accounting principles, proscribed practices or ethical standards, including, without limitation, the possibility that regulatory agencies may require higher levels of capital above the current regulatory-mandated minimums and including the impact of special FDIC assessments, the Consumer Financial Protection Bureau regulations or other guidance, and the possibility of changes in accounting standards, policies, principles and practices; (21) risks related to the legal, regulatory, and supervisory environment, including changes in financial services legislation, regulation, policies, or government officials or other personnel; (22) strategic risk resulting from adverse business decisions or improper implementation of business decisions; (23) reputation risk that adversely affects earnings or capital arising from negative public opinion including the effects of social media on market perceptions of us and banks generally; (24) cybersecurity risk related to the dependence of SouthState on internal computer systems and the technology of outside service providers, as well as the potential impacts of internal or external security breaches, which may subject the Company to potential business disruptions or financial losses resulting from deliberate attacks or unintentional events; (25) reputational and operational risks associated with environment, social and governance (ESG) matters, including the impact of changes in federal and state laws, regulations and guidance relating to climate change; (26) excessive loan losses; (27) reputational risk and possible higher than estimated reduced revenue from previously announced or proposed regulatory changes in the Bank's consumer programs and products; (28) operational, technological, cultural, regulatory, legal, credit and other risks associated with the exploration, consummation and integration of potential future acquisitions, whether involving stock or cash consideration; (29) catastrophic events such as hurricanes, tornados, earthquakes, floods or other natural or human disasters, including public health crises and infectious disease outbreaks, as well as any government actions in response to such events, and the related disruption to local, regional and global economic activity and financial markets, and the impact that any of the foregoing may have on SouthState and its customers and other constituencies; (30) geopolitical risk from terrorist activities and armed conflicts that may result in economic and supply disruptions, and loss of market and consumer confidence; (31) the risks of fluctuations in market prices for SouthState common stock that may or may not reflect economic condition or performance of SouthState; (32) the payment of dividends on SouthState common stock, which is subject to legal and regulatory limitations as well as the discretion of the board of directors of SouthState, SouthState's performance and other factors; (33) ownership dilution risk associated with potential acquisitions in which SouthState's stock may be issued as consideration for an acquired company; and (34) other factors that may affect future results of SouthState, as disclosed in SouthState's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, filed by SouthState with the U.S. Securities and Exchange Commission ("SEC") and available on the SEC's website at http://www.sec.gov, any of which could cause actual results to differ materially from future results expressed, implied or otherwise anticipated by such forward-looking statements.

All forward-looking statements speak only as of the date they are made and are based on information available at that time. SouthState does not undertake any obligation to update or otherwise revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/southstate-corporation-reports-second-quarter-2025-results-declares-an-increase-in-the-quarterly-cash-dividend-302513516.html

SOURCE SouthState Corporation

Get the next $SSB alert in real time by email

Date	Price Target	Rating	Analyst
7/25/2025	$97.00 → $105.00	Market Perform	Hovde Group
5/21/2025	$110.00	Buy	Jefferies
5/13/2025	$106.00	Buy	Truist
4/2/2025	$120.00 → $115.00	Outperform → Strong Buy	Raymond James
4/1/2025	$120.00	Overweight	Barclays
1/27/2025	$106.00 → $128.00	Neutral → Buy	Citigroup
12/17/2024		Buy	UBS
12/9/2024		Equal-Weight → Overweight	Stephens

SouthState Corporation Reports Second Quarter 2025 Results, Declares an Increase in the Quarterly Cash Dividend

Crush Q3 2025 with the Best AI Executive Assistant

Recent Analyst Ratings for $SSB

$SSB Press Releases

Fastest customizable press release news feed in the world

SouthState Corporation Reports Second Quarter 2025 Results, Declares an Increase in the Quarterly Cash Dividend

SouthState Corporation to Announce Quarterly Earnings Results on Thursday, July 24, 2025

SouthState Corporation Reports First Quarter 2025 Results, Declares Quarterly Cash Dividend

$SSB Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Director Froetscher Janet P bought $250,018 worth of shares (2,717 units at $92.02), increasing direct ownership by 138% to 4,689 units (SEC Form 4)

Director Smith G Stacy bought $290,160 worth of shares (3,100 units at $93.60), increasing direct ownership by 9% to 36,779 units (SEC Form 4)

$SSB Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

Hovde Group reiterated coverage on South State with a new price target

Jefferies initiated coverage on South State with a new price target

Truist initiated coverage on South State with a new price target

$SSB Leadership Updates

Live Leadership Updates

SouthState Closes Merger with Independent Financial

Acadia Pharmaceuticals Set to Join S&P SmallCap 600

SouthState Announces Retirement of Doug Williams, Taps Green and Kamienski as Successors

$SSB Large Ownership Changes

This live feed shows all institutional transactions in real time.

Amendment: SEC Form SC 13G/A filed by SouthState Corporation

SEC Form SC 13G filed by SouthState Corporation

SEC Form SC 13G/A filed by SouthState Corporation (Amendment)

$SSB SEC Filings

SouthState Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Other Events, Financial Statements and Exhibits

SouthState Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

SEC Form 11-K filed by SouthState Corporation

$SSB Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Director Smith G Stacy converted options into 267 shares, increasing direct ownership by 0.73% to 37,046 units (SEC Form 4)

Director Froetscher Janet P converted options into 267 shares, increasing direct ownership by 6% to 4,956 units (SEC Form 4)

Director Brooks David R converted options into 267 shares, increasing direct ownership by 0.51% to 52,707 units (SEC Form 4)

$SSB Financials

Live finance-specific insights

SouthState Corporation Reports Second Quarter 2025 Results, Declares an Increase in the Quarterly Cash Dividend

SouthState Corporation to Announce Quarterly Earnings Results on Thursday, July 24, 2025

SouthState Corporation Reports First Quarter 2025 Results, Declares Quarterly Cash Dividend

Recent Analyst Ratings for
$SSB

$SSB
Press Releases

$SSB
Insider Purchases

$SSB
Analyst Ratings

$SSB
Leadership Updates

$SSB
Large Ownership Changes

$SSB
SEC Filings

$SSB
Insider Trading

$SSB
Financials