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 (NYSE: SSB) is a financial services company headquartered in Winter Haven, Florida and operates in the commercial banking industry. Its news flow reflects activities across consumer and commercial banking, mortgage services, wealth management and correspondent banking, as well as corporate governance and capital management developments.
News updates for SouthState often include quarterly earnings announcements and related conference call details. Through press releases and Form 8-K filings, the company reports financial results for each quarter, highlighting net interest income, noninterest income, loan and deposit trends, capital ratios and dividend declarations. Investors can follow these updates to track measures such as return on average assets, return on average common equity, and efficiency ratios, including adjusted non-GAAP metrics.
Company news also covers strategic and operational developments. SouthState has reported on the acquisition and integration of Independent Bank Group, Inc., the expansion of its footprint into new markets such as Tennessee, and the hiring of experienced bankers across its nine-state region. Additional releases describe initiatives like expanded instant payments capabilities for Treasury customers using The Clearing House’s Real-Time Payments network and the Federal Reserve’s FedNow service.
Governance and corporate structure changes appear in SouthState’s news as well. Examples include the appointment of new board members and the redomicile from South Carolina to Florida through a merger into SouthState Bank Corporation, with the stock continuing to trade under the SSB ticker. By reviewing the SSB news feed, readers can see how the company communicates financial performance, geographic expansion, technology initiatives and board-level decisions that shape its regional banking franchise.
SouthState Bank has announced the recruitment of 10 experienced professionals in commercial banking and treasury management to enhance its expansion in key Southeastern markets. With a solid presence in several of the fastest-growing U.S. cities, the bank aims to leverage its strong balance sheet and asset quality. The new hires bring extensive backgrounds from leading financial institutions, positioned to boost client acquisition and operational efficiency in targeted regions along the I-85 and I-4 corridors.
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SouthState Corporation (NASDAQ: SSB) reported fourth-quarter 2020 financial results showing consolidated net income of $1.21 per diluted share, down from $1.45 a year prior. Adjusted net income was $1.44 per diluted share, reflecting significant charges, including $38.8 million in swap terminations. The bank incurred $38.8 million in merger-related expenses, despite a tax benefit of $31.5 million from the CARES Act. Total deposits rose by $723.9 million to $30.7 billion. A cash dividend of $0.47 per share was declared, payable on February 19, 2021.
SouthState Bank announced the addition of a Jacksonville-based Middle Market Banking team and an expansion of its Commercial Banking talent across its six-state footprint. With over $38 billion in assets, SouthState is now the eighth largest bank in the Southeast. Key new hires include David Mann and Mike Butler, who bring extensive banking experience. This strategic move aims to enhance service for middle-market commercial clients, bolstering the bank's position in key growth markets.
South State has appointed LeDon Jones as its first director of Corporate Stewardship, aiming to enhance community engagement and investment. CEO John Corbett highlighted the importance of this role for fostering corporate responsibility in lending, diversity efforts, ESG initiatives, and talent development. With 21 years at South State, Jones previously led community development, focusing on financial literacy and access to banking. This strategic move is designed to solidify South State’s commitment to community support and organizational growth across the Southeast, ensuring a positive impact for both the bank and the communities it serves.