Welcome to our dedicated page for SouthState Bank news (Ticker: SSB), a resource for investors and traders seeking the latest updates and insights on SouthState Bank stock.
SouthState Bank Corporation reports recurring developments tied to its regional banking franchise, quarterly operating results and capital actions. Through SouthState Bank, N.A., the company provides consumer, commercial, mortgage and wealth management solutions across Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, Virginia and Tennessee, and serves clients nationwide through correspondent banking.
Company news commonly covers loan and deposit trends, net interest and fee income, asset quality, capital ratios, dividends and stock repurchase authorizations. Updates also include completed acquisition integration, expansion of commercial, middle market, mortgage and wealth teams, corporate stewardship reporting, technology initiatives and board governance changes.
SouthState Bank (NYSE: SSB) has announced its expansion into Tennessee with the establishment of a new presence in Nashville. The bank has appointed Cameron Wells as division president, bringing over 20 years of experience from BB&T and Truist, where he served as Nashville Market president.
The expansion team includes Will Hatfield as director of Middle Market Banking and Kelsea Lamia as Commercial banker, both bringing significant experience from BB&T and Truist. Hatfield has 12 years of Commercial and Small Business Banking expertise, while Lamia contributes 14 years of diverse banking experience.
This strategic move into Nashville represents a natural geographic and demographic expansion for SouthState, which currently serves more than 1.5 million customers across Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, and Virginia.
SouthState Bank (NYSE: SSB) has released its fifth Corporate Stewardship Report, showcasing significant achievements in community engagement and sustainability for 2024. The bank made substantial financial commitments, including $5.75 billion in CRA-eligible loans and $7.1 million in grants to 2,393 organizations.
Key highlights include $401 million in community development loans, $54.7 million for economic development and affordable housing, and $670 million in affordable lending mortgage programs. Employee engagement saw a 24% increase in volunteer hours, reaching 19,047 hours across 1,028 organizations.
The bank maintains workforce diversity with 14.78% Black/African American and 7.78% Hispanic/Latino representation. Environmental initiatives through digital solutions resulted in saving 1.28 million gallons of water and 1.08 million pounds of CO2 emissions, with 58% of accounts using eStatements.
SouthState Bank (NYSE: SSB) has announced significant expansions across its Private Wealth, Small Business, and Commercial Banking divisions through new hires and promotions. Joseph Brice and Rob Pregnolato have been promoted to Small Business Banking Group Leaders for the Northern and Southern Groups respectively.
The expansion includes four new Small Business bankers across Alabama, Florida, and Georgia, four new Private Wealth advisors serving major markets including Atlanta and Charleston, and three new Commercial Banking team members bringing expertise in commercial real estate, renewable energy, and small business lending.
The new team members bring substantial experience from institutions like Wells Fargo, PNC, and Bancorp, with many holding advanced certifications including CFA, CFP, and CTFA designations. This strategic expansion aims to enhance SouthState's relationship banking services across its operational footprint spanning Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, and Virginia.
SouthState (NYSE: SSB) has scheduled the release of its first quarter 2025 earnings results on Thursday, April 24, 2025, after market close. The company will host a conference call to discuss the results on Friday, April 25, 2025, at 9:00 a.m. ET.
Investors can access the earnings results through SouthState's website and participate in the conference call through toll-free numbers: (888) 350-3899 for US callers and (646) 960-0343 for international participants. The conference ID is 4200408. CFO Will Matthews will host the call.
A live webcast will be available on SouthState's website, with an audio replay expected to be accessible by the evening of April 25, 2025, through the Investor Relations section.
SouthState Bank (NYSE: SSB) has achieved remarkable recognition, being named among the top three banks nationally for Small Business and Middle Market Banking, securing 23 awards from Crisil Coalition Greenwich. The bank leads the U.S. in Best Bank Awards for Small Business Banking, earning 15 awards in the Small Business category for companies with $1-10M annual revenue.
Standing out among over 500 evaluated banks, SouthState received accolades for customer service, relationship management, and digital banking capabilities. The bank also ranked sixth in middle market recognition, winning 8 awards for serving businesses with $10-500M revenue. Since 2016, SouthState has accumulated 82 Coalition Greenwich awards, demonstrating consistent excellence in commercial banking services.
SouthState (NYSE: SSB) reported strong Q4 2024 results with net income of $144.2 million and diluted EPS of $1.87. Key highlights include:
- Net Interest Income of $370 million with a Net Interest Margin of 3.48%
- Loans increased by $355 million (4% annualized)
- Deposits grew by $423 million (4% annualized)
- Total loan yield was 5.76%, while deposit cost decreased to 1.75%
The company maintained strong capital positions with Tier 1 Common Equity at 12.6% and Total Risk-Based Capital at 15.0%. The Board declared a quarterly cash dividend of $0.54 per share. SouthState also completed its previously announced merger with Independent Bank Group on January 1, 2025.
SouthState (NYSE: SSB) has completed its acquisition of Independent Bank Group (NASDAQ: IBTX) on January 1, 2025. The merger includes the integration of Independent Bank into SouthState Bank, N.A., expanding SouthState's presence in Texas and marking its entry into Colorado. The combined entity now has approximately $65 billion in assets.
As part of the merger, three former Independent Financial directors have joined the boards of SouthState and SouthState Bank, increasing board membership from 12 to 15. The new board members are David R. Brooks (former Independent Financial chairman and CEO), Janet Froetscher (former director and current President of J.B and M.K. Pritzker Family Foundation), and G. Stacy Smith (former lead independent director and Managing Partner of SCW Capital).
SouthState (NYSE: SSB) has announced it will release its fourth quarter 2024 earnings results on Thursday, January 23, 2025, after market close. The company will host a conference call to discuss the results on Friday, January 24, 2025, at 9:00 a.m. ET.
Investors can access the earnings results through SouthState's website and participate in the conference call by dialing (888) 350-3899 within the US or (646) 960-0343 for international locations. The conference ID is 4200408. A live webcast will be available on the company's website, and an audio replay is expected to be accessible by the evening of January 24, 2025.
Acadia Pharmaceuticals (NASD: ACAD) will be added to the S&P SmallCap 600 prior to the opening of trading on Jan 3, 2025, replacing Independent Bank Group (NASD: IBTX).
The change follows an announced acquisition involving SouthState (NYSE: SSB) and is effective before the market open on the stated date. For details, see S&P Dow Jones Indices.
SouthState Bank (NYSE: SSB) announces significant personnel expansion with 14 new hires across five states and promotes Chad Clarke to Jacksonville Market President. Clarke, a 23-year veteran of Jacksonville banking, has served as commercial banking team lead at SouthState for seven years. The new hires include experienced professionals in various roles such as portfolio management, middle market coverage, and commercial relationship management across Georgia, Virginia, Alabama, Florida, and South Carolina.
Notable additions include William Barlow, a 25-year finance veteran from Wells Fargo, William Buchly with 18 years of commercial banking experience, and Marcus Boggs, a former Marine lieutenant colonel. The new team members bring diverse expertise in commercial banking, wealth management, and strategic initiatives.