South State Corporation operates as the bank holding company for South State Bank that provides a range of banking services and products. The company accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, and other time deposits. It also offers commercial real estate loans, residential real estate loans, commercial, and industrial loans, as well as consumer loans, including auto, boat, and personal installment loans. In addition, the company provides treasury management services, merchant services, debit card products, automated clearing house services, lock-box services, remote deposit capture services, and other treasury services. As of December 31, 2020, it served customers through 285 branches in Florida, South Carolina, Alabama, Georgia, North Carolina, and Virginia. The company was formerly known as First Financial Holdings, Inc. and changed its name to South State Corporation in July 2013. South State Corporation was founded in 1933 and is headquartered in Winter Haven, Florida.
IPO Year:
Exchange: NASDAQ
Website: southstatebank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 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 | |
| 11/13/2024 | Outperform → Market Perform | Hovde Group | |
| 10/10/2024 | $102.00 | Neutral | Citigroup |
| 7/29/2024 | $97.00 → $112.00 | Outperform | Hovde Group |
| 5/21/2024 | $90.00 | Mkt Perform → Outperform | Raymond James |
WINTER HAVEN, Fla., April 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 period ended March 31, 2025. "The first quarter was a strategic reset that took SouthState's earnings profile from good to great", commented John C. Corbett, SouthState's Chief Executive Officer. "We closed the IBTX acquisition in January and then closed the sale leaseback transaction and securities restructure in March. The securities restructuring and better than expected deposit pricing pushed our net interest margin to 3.85%. SouthStat
NASHVILLE, Tenn., April 17, 2025 /PRNewswire/ -- SouthState Bank has hired an experienced team, based in Nashville, to help the bank expand to Tennessee. Cameron Wells, an experienced leader in the Middle Tennessee market, has joined SouthState as division president, responsible for leading the team and the bank's presence in the region. "SouthState is excited to have a presence in the growing, thriving Nashville market, and we are thrilled to have Cameron's strong leadership," said Richard Murray, president. "Tennessee, and Nashville, in particular, is a natural geographic an
WINTER HAVEN, Fla., April 4, 2025 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState") announced today that it will release first quarter 2025 earnings results on Thursday, April 24, 2025, after the market closes. Upon release, investors may access a copy of SouthState's earnings results at the Company's website at www.SouthStateBank.com under Investor Relations, News, News & Market Data section. SouthState will host a conference call on Friday, April 25, 2025 at 9:00 a.m. (ET) to discuss its first quarter 2025 results. Investors may call in (toll free) by dialing (888) 350-3899 within the US and (646) 960-0343 for all other locations (host: Will Matthews, CFO). The conferenc
WINTER HAVEN, Fla., March 27, 2025 /PRNewswire/ -- SouthState Bank has been named a top three bank in the nation for Small Business and Middle Market Banking, earning 23 total awards from Crisil Coalition Greenwich. In addition, SouthState has earned the most Best Bank Awards (tied) in the U.S. for Small Business Banking. More than 500 banks were considered for these awards from Crisil Coalition Greenwich. Only 38 regional and super-regional banks achieved the Best Bank distinction for Small Business Banking. According to Crisil Coalition Greenwich, Best Bank winners in U.S. S
WINTER HAVEN, Fla., Jan. 23, 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 twelve-month periods ended December 31, 2024. "SouthState finished strong in 2024. We produced steady growth in loans and deposits and had a nice uptick in net interest margin and fees. The result was net income of $144 million and a 9% increase in PPNR over the third quarter, driven by 6% revenue growth", commented John C. Corbett, SouthState's Chief Executive Officer. "We were also pleased to receive prompt regulatory approval of the I
WINTER HAVEN, Fla., Jan. 2, 2025 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState") announced today that it will release fourth quarter 2024 earnings results on Thursday, January 23, 2025, after the market closes. Upon release, investors may access a copy of SouthState's earnings results at the Company's website at www.SouthStateBank.com under Investor Relations, News, News & Market Data section. SouthState will host a conference call on Friday, January 24, 2025 at 9:00 a.m. (ET) to discuss its fourth quarter 2024 results. Investors may call in (toll free) by dialing (888) 350-3899 within the US and (646) 960-0343 for all other locations (host: Will Matthews, CFO). The confere
Expands Presence in TX & CO and Adds Three Board Members WINTER HAVEN, Fla., Jan. 2, 2025 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState" or the "Company") today announced the closing of its acquisition of Independent Bank Group, Inc. (NASDAQ:IBTX) ("Independent Financial") on January 1, 2025, through the merger of Independent Financial with and into SouthState. Immediately after the merger, also on January 1, 2025, Independent Financial's subsidiary bank, Independent Bank, merged with and into SouthState Bank, N.A. ("SouthState Bank"). As a result of these transactions, the combined company has expanded its presence in Texas, entered Colorado, and increased its asset size to
NEW YORK, Dec. 30, 2024 /PRNewswire/ -- Acadia Pharmaceuticals Inc. (NASD: ACAD) will replace Independent Bank Group Inc. (NASD: IBTX) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, January 3, 2025. S&P MidCap 400 constituent SouthState Corp. (NYSE:SSB) is acquiring Independent Bank Group in a deal expected to close soon pending final conditions. Following is a summary of the change that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector Jan 3, 2025 S&P SmallCap 600 Addition Acadia Pharmaceuticals ACAD Health Care Jan 3, 2025 S&P SmallCap 600 Deletion Independent Bank Group
WINTER HAVEN, Fla., Dec. 10, 2024 /PRNewswire/ -- SouthState Bank continues to be an employer of choice in the Southeast, welcoming 14 new hires with expertise in the banking industry, as well as relationship building. "These talented group of bankers will undoubtedly elevate their team's collective performance," says Richard Murray, SouthState president. "We look forward to the valuable contributions we can make together for our customers." In Jacksonville, Florida, SouthState has named Chad Clarke to market president. A member of the Jacksonville banking community for 23 yea
WINTER HAVEN, Fla., Oct. 23, 2024 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) today released its unaudited results of operations and other financial information for the three-month and nine-month periods ended September 30, 2024. "Despite the challenges of hurricane season, SouthState produced steady growth in loans, deposits, revenue, and earnings per share. Furthermore, with the compounding effect of interest rate changes, our tangible book value per share increased 7% during the quarter", commented John C. Corbett, SouthState's Chief Executive Officer. "We were also pleased to receive overwhelming shareholder support for our acquisition of IBTX.
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WINTER HAVEN, Fla., April 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 period ended March 31, 2025. "The first quarter was a strategic reset that took SouthState's earnings profile from good to great", commented John C. Corbett, SouthState's Chief Executive Officer. "We closed the IBTX acquisition in January and then closed the sale leaseback transaction and securities restructure in March. The securities restructuring and better than expected deposit pricing pushed our net interest margin to 3.85%. SouthStat
WINTER HAVEN, Fla., April 4, 2025 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState") announced today that it will release first quarter 2025 earnings results on Thursday, April 24, 2025, after the market closes. Upon release, investors may access a copy of SouthState's earnings results at the Company's website at www.SouthStateBank.com under Investor Relations, News, News & Market Data section. SouthState will host a conference call on Friday, April 25, 2025 at 9:00 a.m. (ET) to discuss its first quarter 2025 results. Investors may call in (toll free) by dialing (888) 350-3899 within the US and (646) 960-0343 for all other locations (host: Will Matthews, CFO). The conferenc
WINTER HAVEN, Fla., Jan. 23, 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 twelve-month periods ended December 31, 2024. "SouthState finished strong in 2024. We produced steady growth in loans and deposits and had a nice uptick in net interest margin and fees. The result was net income of $144 million and a 9% increase in PPNR over the third quarter, driven by 6% revenue growth", commented John C. Corbett, SouthState's Chief Executive Officer. "We were also pleased to receive prompt regulatory approval of the I
WINTER HAVEN, Fla., Jan. 2, 2025 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState") announced today that it will release fourth quarter 2024 earnings results on Thursday, January 23, 2025, after the market closes. Upon release, investors may access a copy of SouthState's earnings results at the Company's website at www.SouthStateBank.com under Investor Relations, News, News & Market Data section. SouthState will host a conference call on Friday, January 24, 2025 at 9:00 a.m. (ET) to discuss its fourth quarter 2024 results. Investors may call in (toll free) by dialing (888) 350-3899 within the US and (646) 960-0343 for all other locations (host: Will Matthews, CFO). The confere
WINTER HAVEN, Fla., Oct. 23, 2024 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) today released its unaudited results of operations and other financial information for the three-month and nine-month periods ended September 30, 2024. "Despite the challenges of hurricane season, SouthState produced steady growth in loans, deposits, revenue, and earnings per share. Furthermore, with the compounding effect of interest rate changes, our tangible book value per share increased 7% during the quarter", commented John C. Corbett, SouthState's Chief Executive Officer. "We were also pleased to receive overwhelming shareholder support for our acquisition of IBTX.
WINTER HAVEN, Fla., Oct. 4, 2024 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState") announced today that it will release third quarter 2024 earnings results on Wednesday, October 23, 2024, after the market closes. Upon release, investors may access a copy of SouthState's earnings results at the Company's website at www.SouthStateBank.com under Investor Relations, News, News & Market Data section. SouthState will host a conference call on Thursday, October 24, 2024 at 9:00 a.m. (ET) to discuss its third quarter 2024 results. Investors may call in (toll free) by dialing (888) 350-3899 within the US and (646) 960-0343 for all other locations (host: Will Matthews, CFO). The con
WINTER HAVEN, Fla., July 24, 2024 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) today released its unaudited results of operations and other financial information for the three-month and six-month periods ended June 30, 2024. "Both revenue and net interest margin inflected during the second quarter as loans repriced faster than deposits. Loans grew at a 7% annualized pace and earnings per share increased 15% over the first quarter", commented John C. Corbett, SouthState's Chief Executive Officer. "On May 20th, we announced the acquisition of Texas-based Independent Bank Group. During June, we traveled in town hall meetings with the Independent team a
WINTER HAVEN, Fla., July 8, 2024 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState") announced today that it will release second quarter 2024 earnings results on Wednesday, July 24, 2024, after the market closes. Upon release, investors may access a copy of SouthState's earnings results at the Company's website at www.SouthStateBank.com under Investor Relations, News, News & Market Data section. SouthState will host a conference call on Thursday, July 25, 2024 at 9:00 a.m. (ET) to discuss its second quarter 2024 results. Investors may call in (toll free) by dialing (888) 350-3899 within the US and (646) 960-0343 for all other locations (host: Will Matthews, CFO). The conference
WINTER HAVEN, Fla. and MCKINNEY, Texas, May 20, 2024 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState") and Independent Bank Group, Inc. (NASDAQ:IBTX) ("Independent Bank Group") jointly announced today that they have entered into a definitive agreement under which SouthState will acquire Independent Bank Group, in an all-stock transaction valued at approximately $2 billion. Independent Bank Group, based in McKinney, Texas, has approximately $18.9 billion in total assets, $15.7 billion in total deposits and $14.6 billion in total loans as of March 31, 2024, and op
WINTER HAVEN, Fla., April 25, 2024 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) today released its unaudited results of operations and other financial information for the three-month period ended March 31, 2024. "In the midst of a transition year for the US economy, SouthState produced first quarter revenue and earnings per share in line with our guidance," commented John C. Corbett, SouthState's Chief Executive Officer. "Loans and deposits grew in the low-single digit percent range and asset quality remains stable with strong reserves. Our markets are resilient, and people are migrating to the South as an attractive place to live and grow a business.
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Truist initiated coverage of South State with a rating of Buy and set a new price target of $106.00
Raymond James upgraded South State from Outperform to Strong Buy and set a new price target of $115.00 from $120.00 previously
Barclays initiated coverage of South State with a rating of Overweight and set a new price target of $120.00
Citigroup upgraded South State from Neutral to Buy and set a new price target of $128.00 from $106.00 previously
UBS resumed coverage of South State with a rating of Buy
Stephens upgraded South State from Equal-Weight to Overweight
Hovde Group downgraded South State from Outperform to Market Perform
Citigroup initiated coverage of South State with a rating of Neutral and set a new price target of $102.00
Hovde Group reiterated coverage of South State with a rating of Outperform and set a new price target of $112.00 from $97.00 previously
Raymond James upgraded South State from Mkt Perform to Outperform and set a new price target of $90.00
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Expands Presence in TX & CO and Adds Three Board Members WINTER HAVEN, Fla., Jan. 2, 2025 /PRNewswire/ -- SouthState Corporation (NYSE:SSB) ("SouthState" or the "Company") today announced the closing of its acquisition of Independent Bank Group, Inc. (NASDAQ:IBTX) ("Independent Financial") on January 1, 2025, through the merger of Independent Financial with and into SouthState. Immediately after the merger, also on January 1, 2025, Independent Financial's subsidiary bank, Independent Bank, merged with and into SouthState Bank, N.A. ("SouthState Bank"). As a result of these transactions, the combined company has expanded its presence in Texas, entered Colorado, and increased its asset size to
NEW YORK, Dec. 30, 2024 /PRNewswire/ -- Acadia Pharmaceuticals Inc. (NASD: ACAD) will replace Independent Bank Group Inc. (NASD: IBTX) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, January 3, 2025. S&P MidCap 400 constituent SouthState Corp. (NYSE:SSB) is acquiring Independent Bank Group in a deal expected to close soon pending final conditions. Following is a summary of the change that will take place prior to the open of trading on the effective date: Effective Date Index Name Action Company Name Ticker GICS Sector Jan 3, 2025 S&P SmallCap 600 Addition Acadia Pharmaceuticals ACAD Health Care Jan 3, 2025 S&P SmallCap 600 Deletion Independent Bank Group
ATLANTA, April 29, 2024 /PRNewswire/ -- SouthState Bank today announced the retirement of Doug Williams, president of the Atlanta Banking Group and head of Corporate Banking, effective Dec. 31. Williams culminates his 44-year career with SouthState after spearheading the Atlantic Capital merger in 2022. He founded the Atlanta-based bank after 26 years with Wachovia. "We cannot thank Doug enough for shepherding Atlantic Capital through the transition to SouthState. His knowledge of the Atlanta market and client base has been invaluable, and the Bank remains poised for growth in
ATLANTA, March 1, 2022 /PRNewswire/ -- SouthState Corporation (NASDAQ:SSB) ("SouthState" or the "Company") today announced the closing of its acquisition of Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) ("Atlantic Capital") through the merger of Atlantic Capital with and into SouthState. Immediately after that merger, Atlantic Capital's subsidiary bank, Atlantic Capital Bank, N.A. merged with and into SouthState Bank, N.A. ("SouthState Bank"). As a result of these transactions, the combined company has an expanded presence in the Atlanta market, with $5 billion in deposits and ranks 8th in market share (3rd among banks under $100 billion in assets).