SouthState Bank Corporation Reports Third Quarter 2025 Results, Declares Quarterly Cash Dividend

Rhea-AI Summary

SouthState Bank Corporation (NYSE: SSB) reported third-quarter 2025 results showing revenue and earnings growth. Diluted EPS was $2.42 (Adjusted diluted EPS $2.58) and net income was $246.6 million. The company cited a 30% year-over-year EPS increase and a return on tangible common equity of 19.6%. Key operating metrics: Net interest income of $599.7 million, noninterest income of $99.1 million, and net interest margin of 4.05%. Balance sheet trends: loans increased ~$401 million (3%) and deposits increased ~$376 million (3%) quarter-over-quarter; total assets were approximately $66.05 billion. Capital and credit: tangible common equity ratio 8.8%, total risk-based capital 14.0%, net charge-offs $32.2 million, and allowance for credit losses plus reserve 1.38% of loans. The Board declared a quarterly cash dividend of $0.60 per share payable Nov 14, 2025 to holders of record Nov 7, 2025.

Positive

• Diluted EPS of $2.42 (Adjusted $2.58)
• Net income of $246.6M
• Return on tangible common equity of 19.6%
• Net interest income of $599.7M and NIM of 4.05%
• Quarterly loan growth of $401M (3%) and deposit growth of $376M (3%)

Negative

• Net charge-offs of $32.2M (0.27%) in the quarter
• Merger, consolidation and severance expense of $20.9M this quarter
• Redeemed $405M of subordinated debentures during the quarter

Insights

Bank Financial Analyst

SouthState reported materially stronger Q3 results, with double‑digit EPS growth, robust tangible ROE, and a raised cash dividend.

SouthState generated Net Income of $246.6 million and diluted EPS of $2.42, a year‑over‑year EPS increase the company described as 30%. Performance revenue totaled $699 million, with net interest income of $600 million and noninterest income of $99.1 million. Tangible metrics stand out: return on average tangible common equity of 19.6% (adjusted 20.8%) and tangible book value per share of $54.48. The board declared a quarterly cash dividend of $0.60 per share payable on November 14, 2025.

The business mechanism is straightforward: loan and deposit growth (ending loans and deposits up ~3 quarter‑over‑quarter) combined with modest NIM expansion (total loan yield 6.48, NIM ~4.05) and fee growth in capital markets drove higher revenue and operating leverage. Credit metrics show net charge‑offs of $32.2 million (annualized ~0.27) and a modest $5.1 million provision for credit losses this quarter; ACL plus reserve for unfunded commitments equals 1.38 of loans.

Key dependencies and risks include the sustainability of fee and interest income growth, future credit performance, and integration effects from the Independent Financial acquisition (acquisition‑related charge‑offs impacted prior quarters). Monitor the allowance coverage, quarterly net charge‑offs, and quarter‑over‑quarter loan/deposit trends over the next two to four quarters to confirm trajectory. Given the disclosed figures and the declared dividend, the near‑term investor impact is net positive.

WINTER HAVEN, Fla., Oct. 22, 2025 /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 nine-month periods ended September 30, 2025.

"SouthState delivered a strong third quarter. Growth in top line revenue and bottom-line income led to a 30% year-over-year increase in earnings per share," said John C. Corbett, SouthState's Chief Executive Officer.  "The successful integration of Independent Financial, fee income growth in capital markets, and steady balance sheet growth resulted in a return on tangible equity of 20%."

Highlights of the third quarter of 2025 include:

Returns

• Reported Diluted Earnings per Share ("EPS") of $2.42; Adjusted Diluted EPS (Non-GAAP) of $2.58
• Net Income of $246.6 million; Adjusted Net Income (Non-GAAP) of $262.7 million
• Return on Average Common Equity of 11.0%; Return on Average Tangible Common Equity (Non-GAAP) of 19.6% and Adjusted Return on Average Tangible Common Equity (Non-GAAP) of 20.8%*
• Return on Average Assets ("ROAA") of 1.49% and Adjusted ROAA (Non-GAAP) of 1.59%*
• Book Value per Share of $89.14; Tangible Book Value ("TBV") per Share (Non-GAAP) of $54.48

Performance

• Revenue, non-tax equivalent, of $699 million, an increase of $34 million, or 5%, compared to the prior quarter
• Net Interest Income of $600 million, an increase of $22 million, or 4%, compared to the prior quarter
• Noninterest Income of $99.1 million, up $12 million compared to the prior quarter, primarily due to an increase in correspondent banking and capital markets income; Noninterest Income represented 0.60% of average assets for the third quarter of 2025*
• Net Interest Margin ("NIM"), non-tax equivalent and tax equivalent (Non-GAAP), of 4.05% and 4.06%, respectively
• Net charge-offs totaled $32.2 million, or 0.27%*, primarily attributable to one credit that was charged off during the quarter, bringing the year-to-date net charge-offs to 12 bps* ^ǂ
• $5.1 million of Provision for Credit Losses ("PCL"); total Allowance for Credit Losses ("ACL") plus reserve for unfunded commitments of 1.38% of loans
• Efficiency Ratio of 50% and Adjusted Efficiency Ratio (Non-GAAP) of 47%

^ǂ  Excluding acquisition date charge-offs during the quarters ended June 30, 2025 and March 31, 2025

Balance Sheet

• Loans increased by $401 million, or 3%*, and deposits increased by $376 million, or 3%*; average loans increased by $571 million, or 5%*, and average deposits increased by $625 million, or 5%*; ending loan to deposit ratio of 88%
• Total loan yield of 6.48%, up 0.15% from prior quarter
• Total deposit cost of 1.91%, up 0.07% from prior quarter
• Redeemed a total of $405 million of subordinated debentures during the quarte
• Strong capital position with Tangible Common Equity, Total Risk-Based Capital, Tier 1 Leverage, and Tier 1 Common Equity ratios of 8.8%, 14.0%, 9.4%, and 11.5%, respectively^†    

∗  Annualized percentages
†  Preliminary

Subsequent Events

• The Board of Directors of the Company declared a quarterly cash dividend on its common stock of $0.60 per share, payable on November 14, 2025 to shareholders of record as of November 7, 2025

Financial Performance

		Three Months Ended															Nine Months Ended
(Dollars in thousands, except per share data)		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,			Sep. 30,
INCOME STATEMENT		2025			2025			2025			2024			2024			2025			2024
Interest Income
Loans, including fees (1)		$	782,382		$	746,448		$	724,640		$	489,709		$	494,082		$	2,253,471		$	1,436,130
Investment securities, trading securities, federal funds sold and securities
purchased under agreements to resell			99,300			94,056			83,926			59,096			50,096			277,281			156,427
Total interest income			881,682			840,504			808,566			548,805			544,178			2,530,752			1,592,557
Interest Expense
Deposits			257,271			241,593			245,957			168,263			177,919			744,820			503,562
Federal funds purchased, securities sold under agreements
to repurchase, and other borrowings			24,714			20,963			18,062			10,763			14,779			63,740			43,320
Total interest expense			281,985			262,556			264,019			179,026			192,698			808,560			546,882
Net Interest Income			599,697			577,948			544,547			369,779			351,480			1,722,192			1,045,675
Provision (recovery) for credit losses			5,085			7,505			100,562			6,371			(6,971)			113,152			9,604
Net Interest Income after Provision (Recovery) for Credit Losses			594,612			570,443			443,985			363,408			358,451			1,609,040			1,036,071
Noninterest Income
Operating income			99,086			86,817			85,620			80,595			74,934			271,523			221,717
Securities losses, net			—			—			(228,811)			(50)			—			(228,811)			—
Gain on sale leaseback, net of transaction costs			—			—			229,279			—			—			229,279			—
Total noninterest income			99,086			86,817			86,088			80,545			74,934			271,991			221,717
Noninterest Expense
Operating expense			351,453			350,682			340,820			250,699			243,543			1,042,955			726,809
Merger, branch consolidation, severance related, and other expense (8)			20,889			24,379			68,006			6,531			3,304			113,274			13,602
FDIC special assessment			—			—			—			(621)			—			—			4,473
Total noninterest expense			372,342			375,061			408,826			256,609			246,847			1,156,229			744,884
Income before Income Tax Provision			321,356			282,199			121,247			187,344			186,538			724,802			512,904
Income tax provision			74,715			66,975			32,167			43,166			43,359			173,857			122,299
Net Income		$	246,641		$	215,224		$	89,080		$	144,178		$	143,179		$	550,945		$	390,605
Adjusted Net Income (non-GAAP) (2)
Net Income (GAAP)		$	246,641		$	215,224		$	89,080		$	144,178		$	143,179		$	550,945		$	390,605
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)			16,032			18,593			53,094			5,026			2,536			87,719			10,348
Deferred tax asset remeasurement			—			—			5,581			—			—			5,581			—
FDIC special assessment, net of tax			—			—			—			(478)			—			—			3,362
Adjusted Net Income (non-GAAP)		$	262,673		$	233,817		$	219,282		$	148,764		$	145,715		$	715,772		$	404,315
Basic earnings per common share		$	2.44		$	2.12		$	0.88		$	1.89		$	1.88		$	5.43		$	5.12
Diluted earnings per common share		$	2.42		$	2.11		$	0.87		$	1.87		$	1.86		$	5.41		$	5.09
Adjusted net income per common share - Basic (non-GAAP) (2)		$	2.60		$	2.30		$	2.16		$	1.95		$	1.91		$	7.06		$	5.30
Adjusted net income per common share - Diluted (non-GAAP) (2)		$	2.58		$	2.30		$	2.15		$	1.93		$	1.90		$	7.03		$	5.27
Dividends per common share		$	0.60		$	0.54		$	0.54		$	0.54		$	0.54		$	1.68		$	1.58
Basic weighted-average common shares outstanding			101,218,431			101,495,456			101,409,624			76,360,935			76,299,069			101,373,803			76,284,016
Diluted weighted-average common shares outstanding			101,735,095			101,845,360			101,828,600			76,957,882			76,805,436			101,807,090			76,690,900
Effective tax rate			23.25 %			23.73 %			26.53 %			23.04 %			23.24 %			23.99 %			23.84 %
Adjusted effective tax rate			23.25 %			23.73 %			21.93 %			23.04 %			23.24 %			23.22 %			23.84 %

Performance and Capital Ratios

		Three Months Ended															Nine Months Ended
		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,		Sep. 30,
		2025			2025			2025			2024			2024			2025		2024
PERFORMANCE RATIOS
Return on average assets (annualized)			1.49	%		1.34	%		0.56	%		1.23	%		1.25	%	1.14	%	1.15	%
Adjusted return on average assets (annualized) (non-GAAP) (2)			1.59	%		1.45	%		1.38	%		1.27	%		1.27	%	1.48	%	1.19	%
Return on average common equity (annualized)			11.04	%		9.93	%		4.29	%		9.72	%		9.91	%	8.50	%	9.29	%
Adjusted return on average common equity (annualized) (non-GAAP) (2)			11.75	%		10.79	%		10.56	%		10.03	%		10.08	%	11.05	%	9.62	%
Return on average tangible common equity (annualized) (non-GAAP) (3)			19.62	%		18.17	%		8.99	%		15.09	%		15.63	%	15.80	%	14.94	%
Adjusted return on average tangible common equity (annualized) (non-GAAP) (2) (3)			20.81	%		19.61	%		19.85	%		15.56	%		15.89	%	20.10	%	15.44	%
Efficiency ratio (tax equivalent)			49.88	%		52.75	%		60.97	%		55.73	%		56.58	%	54.35	%	57.35	%
Adjusted efficiency ratio (non-GAAP) (4)			46.89	%		49.09	%		50.24	%		54.42	%		55.80	%	48.68	%	55.93	%
Dividend payout ratio (5)			24.59	%		25.47	%		61.45	%		28.58	%		28.76	%	30.89	%	30.82	%
Book value per common share		$	89.14		$	86.71		$	84.99		$	77.18		$	77.42
Tangible book value per common share (non-GAAP) (3)		$	54.48		$	51.96		$	50.07		$	51.11		$	51.26
CAPITAL RATIOS
Equity-to-assets			13.6	%		13.4	%		13.2	%		12.7	%		12.8	%
Tangible equity-to-tangible assets (non-GAAP) (3)			8.8	%		8.5	%		8.2	%		8.8	%		8.9	%
Tier 1 leverage (6)			9.4	%		9.2	%		8.9	%		10.0	%		10.0	%
Tier 1 common equity (6)			11.5	%		11.2	%		11.0	%		12.6	%		12.4	%
Tier 1 risk-based capital (6)			11.5	%		11.2	%		11.0	%		12.6	%		12.4	%
Total risk-based capital (6)			14.0	%		14.5	%		13.7	%		15.0	%		14.7	%

Balance Sheet

		Ending Balance
(Dollars in thousands, except per share and share data)		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
BALANCE SHEET		2025			2025			2025			2024			2024
Assets
Cash and due from banks		$	582,792		$	755,798		$	688,153		$	525,506		$	563,887
Federal funds sold and interest-earning deposits with banks			2,561,663			2,708,308			2,611,537			866,561			648,792
Cash and cash equivalents			3,144,455			3,464,106			3,299,690			1,392,067			1,212,679
Trading securities, at fair value			107,519			95,306			107,401			102,932			87,103
Investment securities:
Securities held to maturity			2,096,727			2,145,991			2,195,980			2,254,670			2,301,307
Securities available for sale, at fair value			6,042,800			5,927,867			5,853,369			4,320,593			4,564,363
Other investments			366,218			357,487			345,695			223,613			211,458
Total investment securities			8,505,745			8,431,345			8,395,044			6,798,876			7,077,128
Loans held for sale			346,673			318,985			357,918			279,426			287,043
Loans:
Purchased credit deteriorated			3,160,359			3,409,186			3,634,490			862,155			913,342
Purchased non-credit deteriorated			11,877,828			12,492,553			13,084,853			3,635,782			3,959,028
Non-acquired			32,629,724			31,365,508			30,047,389			29,404,990			28,675,822
Less allowance for credit losses			(590,133)			(621,046)			(623,690)			(465,280)			(467,981)
Loans, net			47,077,778			46,646,201			46,143,042			33,437,647			33,080,211
Premises and equipment, net			961,510			964,878			946,334			502,559			507,452
Bank owned life insurance			1,285,532			1,280,632			1,273,472			1,013,209			1,007,275
Mortgage servicing rights			84,491			85,836			87,742			89,795			83,512
Core deposit and other intangibles			409,890			433,458			455,443			66,458			71,835
Goodwill			3,094,059			3,094,059			3,088,059			1,923,106			1,923,106
Other assets			1,030,558			1,078,516			981,309			775,129			745,303
Total assets		$	66,048,210		$	65,893,322		$	65,135,454		$	46,381,204		$	46,082,647
Liabilities and Shareholders' Equity
Deposits:
Noninterest-bearing		$	13,430,459		$	13,719,030		$	13,757,255		$	10,192,117		$	10,376,531
Interest-bearing			40,642,810			39,977,931			39,580,360			27,868,749			27,261,664
Total deposits			54,073,269			53,696,961			53,337,615			38,060,866			37,638,195
Federal funds purchased and securities
sold under agreements to repurchase			594,092			630,558			679,337			514,912			538,322
Other borrowings			696,429			1,099,705			752,798			391,534			691,626
Reserve for unfunded commitments			68,538			64,693			62,253			45,327			41,515
Other liabilities			1,604,756			1,600,271			1,679,090			1,478,150			1,268,409
Total liabilities			57,037,084			57,092,188			56,511,093			40,490,789			40,178,067
Shareholders' equity:
Common stock - $2.50 par value; authorized 160,000,000 shares			252,723			253,745			253,698			190,805			190,674
Surplus			6,647,952			6,679,028			6,667,277			4,259,722			4,249,672
Retained earnings			2,426,463			2,240,470			2,080,053			2,046,809			1,943,874
Accumulated other comprehensive loss			(316,012)			(372,109)			(376,667)			(606,921)			(479,640)
Total shareholders' equity			9,011,126			8,801,134			8,624,361			5,890,415			5,904,580
Total liabilities and shareholders' equity		$	66,048,210		$	65,893,322		$	65,135,454		$	46,381,204		$	46,082,647
Common shares issued and outstanding			101,089,231			101,498,000			101,479,065			76,322,206			76,269,577

Net Interest Income and Margin

		Three Months Ended
		Sep. 30, 2025								Jun. 30, 2025								Sep. 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		$	2,212,239		$	23,271		4.17 %		$	1,884,133		$	19,839		4.22 %		$	559,942		$	6,462		4.59 %
Investment securities			8,624,670			76,029		3.50 %			8,513,439			74,217		3.50 %			7,163,934			43,634		2.42 %
Loans held for sale			289,884			5,067		6.93 %			283,017			4,829		6.84 %			112,429			2,694		9.53 %
Total loans held for investment			47,600,317			777,315		6.48 %			47,029,412			741,619		6.33 %			33,387,675			491,388		5.86 %
Total interest-earning assets			58,727,110			881,682		5.96 %			57,710,001			840,504		5.84 %			41,223,980			544,178		5.25 %
Noninterest-earning assets			6,762,434								6,840,880								4,373,250
Total Assets		$	65,489,544							$	64,550,881							$	45,597,230
Interest-Bearing Liabilities ("IBL"):
Transaction and money market accounts		$	29,623,457		$	187,627		2.51 %		$	28,986,998		$	173,481		2.40 %		$	19,936,966		$	129,613		2.59 %
Savings deposits			2,879,488			1,940		0.27 %			2,921,780			2,012		0.28 %			2,453,886			1,893		0.31 %
Certificates and other time deposits			7,310,133			67,704		3.67 %			7,177,451			66,100		3.69 %			4,489,441			46,413		4.11 %
Federal funds purchased			331,707			3,640		4.35 %			360,588			3,943		4.39 %			304,582			4,178		5.46 %
Repurchase agreements			281,395			1,527		2.15 %			287,341			1,462		2.04 %			258,166			1,519		2.34 %
Other borrowings			974,992			19,547		7.95 %			821,545			15,558		7.60 %			611,247			9,082		5.91 %
Total interest-bearing liabilities			41,401,172			281,985		2.70 %			40,555,703			262,556		2.60 %			28,054,288			192,698		2.73 %
Noninterest-bearing deposits			13,541,840								13,643,265								10,412,512
Other noninterest-bearing liabilities			1,679,124								1,659,331								1,382,260
Shareholders' equity			8,867,408								8,692,582								5,748,170
Total Non-IBL and shareholders' equity			24,088,372								23,995,178								17,542,942
Total Liabilities and Shareholders' Equity		$	65,489,544							$	64,550,881							$	45,597,230
Net Interest Income and Margin (Non-Tax Equivalent)					$	599,697		4.05 %					$	577,948		4.02 %					$	351,480		3.39 %
Net Interest Margin (Tax Equivalent) (non-GAAP)								4.06 %								4.02 %								3.40 %
Total Deposit Cost (without Debt and Other Borrowings)								1.91 %								1.84 %								1.90 %
Overall Cost of Funds (including Demand Deposits)								2.04 %								1.94 %								1.99 %
Total Accretion on Acquired Loans (1)					$	82,976							$	63,507							$	2,858
Tax Equivalent ("TE") Adjustment					$	718							$	672							$	486

• The remaining loan discount on acquired loans to be accreted into loan interest income totals $309.8 million as of September 30, 2025.

Noninterest Income and Expense

		Three Months Ended															Nine Months Ended
		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Sep. 30,			Sep. 30,
(Dollars in thousands)		2025			2025			2025			2024			2024			2025			2024
Noninterest Income:
Fees on deposit accounts		$	42,572		$	37,869		$	35,933		$	35,121		$	33,986		$	116,374		$	100,973
Mortgage banking income			5,462			5,936			7,737			4,777			3,189			19,135			15,270
Trust and investment services income			14,157			14,419			14,932			12,414			11,578			43,508			33,060
Correspondent banking and capital markets income			25,522			19,161			16,715			20,905			17,381			61,398			48,239
Expense on centrally-cleared variation margin			(4,318)			(5,394)			(7,170)			(7,350)			(7,488)			(16,882)			(29,175)
Total correspondent banking and capital markets income			21,204			13,767			9,545			13,555			9,893			44,516			19,064
Bank owned life insurance income			10,597			9,153			10,199			7,944			8,276			29,949			22,540
Other			5,094			5,673			7,275			6,784			8,012			18,041			30,810
Securities losses, net			—			—			(228,811)			(50)			—			(228,811)			—
Gain on sale leaseback, net of transaction costs			—			—			229,279			—			—			229,279			—
Total Noninterest Income		$	99,086		$	86,817		$	86,088		$	80,545		$	74,934		$	271,991		$	221,717
Noninterest Expense:
Salaries and employee benefits		$	199,148		$	200,162		$	195,811		$	154,116		$	150,865		$	595,121		$	452,753
Occupancy expense			40,874			41,507			35,493			22,831			22,242			117,874			67,272
Information services expense			28,988			30,155			31,362			23,416			23,280			90,505			68,777
OREO and loan related expense			5,427			2,295			1,784			1,416			1,358			9,506			3,271
Business development and staff related			8,907			7,182			6,510			6,777			5,542			22,600			17,006
Amortization of intangibles			23,426			24,048			23,831			5,326			5,327			71,305			17,069
Professional fees			4,994			4,658			4,709			5,366			4,017			14,361			11,038
Supplies and printing expense			3,278			3,970			3,128			2,729			2,762			10,376			7,828
FDIC assessment and other regulatory charges			8,374			11,469			11,258			7,365			7,482			31,101			23,787
Advertising and marketing			2,980			3,010			2,290			2,269			2,296			8,280			6,874
Other operating expenses			25,057			22,226			24,644			19,088			18,372			71,926			51,134
Merger, branch consolidation, severance related and other expense (8)			20,889			24,379			68,006			6,531			3,304			113,274			13,602
FDIC special assessment			—			—			—			(621)			—			—			4,473
Total Noninterest Expense		$	372,342		$	375,061		$	408,826		$	256,609		$	246,847		$	1,156,229		$	744,884

Loans and Deposits

The following table presents a summary of the loan portfolio by type:

		Ending Balance
(Dollars in thousands)		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
LOAN PORTFOLIO (7)		2025			2025			2025			2024			2024
Construction and land development * †		$	2,678,971		$	3,323,923		$	3,497,909		$	2,184,327		$	2,458,151
Investor commercial real estate*			17,603,205			16,953,410			16,822,119			9,991,482			9,856,709
Commercial owner occupied real estate			7,529,075			7,497,906			7,417,116			5,716,376			5,544,716
Commercial and industrial			8,644,636			8,445,878			8,106,484			6,222,876			5,931,187
Consumer real estate *			10,202,026			10,038,369			9,838,952			8,714,969			8,649,714
Consumer/other			1,009,998			1,007,761			1,084,152			1,072,897			1,107,715
Total Loans		$	47,667,911		$	47,267,247		$	46,766,732		$	33,902,927		$	33,548,192

*	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 $350.2 million, $371.1 million, $343.5 million, $386.2 million, and $429.8 million for the quarters ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, respectively.

		Ending Balance
(Dollars in thousands)		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
DEPOSITS		2025			2025			2025			2024			2024
Noninterest-bearing checking		$	13,430,459		$	13,719,030		$	13,757,255		$	10,192,116		$	10,376,531
Interest-bearing checking			12,906,408			12,607,205			12,034,973			8,232,322			7,550,392
Savings			2,853,410			2,889,670			2,939,407			2,414,172			2,442,584
Money market			17,251,469			16,772,597			17,447,738			13,056,534			12,614,046
Time deposits			7,631,523			7,708,459			7,158,242			4,165,722			4,654,642
Total Deposits		$	54,073,269		$	53,696,961		$	53,337,615		$	38,060,866		$	37,638,195
Core Deposits (excludes Time Deposits)		$	46,441,746		$	45,988,502		$	46,179,373		$	33,895,144		$	32,983,553

Asset Quality

		Ending Balance
		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
(Dollars in thousands)		2025			2025			2025			2024			2024
NONPERFORMING ASSETS:
Non-acquired
Non-acquired nonaccrual loans and restructured loans on nonaccrual		$	146,751		$	141,910		$	151,673		$	141,982		$	111,240
Accruing loans past due 90 days or more			4,352			3,687			3,273			3,293			6,890
Non-acquired OREO and other nonperforming assets			11,969			17,288			2,290			1,182			1,217
Total non-acquired nonperforming assets			163,072			162,885			157,236			146,457			119,347
Acquired
Acquired nonaccrual loans and restructured loans on nonaccrual			149,695			151,466			116,691			65,314			70,731
Accruing loans past due 90 days or more			891			707			537			—			389
Acquired OREO and other nonperforming assets			7,147			8,783			5,976			1,583			493
Total acquired nonperforming assets			157,733			160,956			123,204			66,897			71,613
Total nonperforming assets		$	320,805		$	323,841		$	280,440		$	213,354		$	190,960

		Three Months Ended
		Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
		2025			2025			2025			2024			2024
ASSET QUALITY RATIOS (7):
Allowance for credit losses as a percentage of loans			1.24 %			1.31 %			1.33 %			1.37 %			1.39 %
Allowance for credit losses, including reserve for unfunded commitments,
as a percentage of loans			1.38 %			1.45 %			1.47 %			1.51 %			1.52 %
Allowance for credit losses as a percentage of nonperforming loans			195.61 %			208.57 %			229.15 %			220.94 %			247.28 %
Net charge-offs as a percentage of average loans (annualized)			0.27 %			0.21 %			0.38 %			0.06 %			0.07 %
Net charge-offs, excluding acquisition date charge-offs, as a percentage
of average loans (annualized) *			0.27 %			0.06 %			0.04 %			0.06 %			0.07 %
Total nonperforming assets as a percentage of total assets			0.49 %			0.49 %			0.43 %			0.46 %			0.41 %
Nonperforming loans as a percentage of period end loans			0.63 %			0.63 %			0.58 %			0.62 %			0.56 %

*	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 third 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 6/30/2025		$	535,014		$	86,032		$	621,046		$	64,693
Charge offs			(36,554)			—			(36,554)			—
Acquired charge offs			(344)			(664)			(1,008)			—
Recoveries			2,292			—			2,292			—
Acquired recoveries			921			2,195			3,116			—
Provision for credit losses			10,249			(9,008)			1,241			3,845
Ending balance 9/30/2025		$	511,578		$	78,555		$	590,133		$	68,538
Period end loans		$	44,507,552		$	3,160,359		$	47,667,911			N/A
Allowance for Credit Losses to Loans			1.15 %			2.49 %			1.24 %			N/A
Unfunded commitments (off balance sheet) †											$	11,201,286
Reserve to unfunded commitments (off balance sheet)												0.61 %

†	Unfunded commitments exclude unconditionally cancelable commitments and letters of credit.

Conference Call

The Company will host a conference call to discuss its third quarter results at 9:00 a.m. Eastern Time on October 23, 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 October 23, 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 company's nationally chartered bank subsidiary, provides consumer, commercial, mortgage and wealth management solutions to more than 1.5 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)		Sep. 30, 2025				Jun. 30, 2025				Mar. 31, 2025				Dec. 31, 2024				Sep. 30, 2024
Net income (GAAP)		$	246,641			$	215,224			$	89,080			$	144,178			$	143,179
Provision (recovery) for credit losses			5,085				7,505				100,562				6,371				(6,971)
Income tax provision			74,715				66,975				26,586				43,166				43,359
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)			20,889				24,379				68,006				6,531				3,304
FDIC special assessment			—				—				—				(621)				—
Pre-provision net revenue (PPNR) (Non-GAAP)		$	347,330			$	314,083			$	289,347			$	199,675			$	182,871

(Dollars in thousands)		Three Months Ended
NET INTEREST MARGIN ("NIM"), TE (NON-GAAP)		Sep. 30, 2025				Jun. 30, 2025				Mar. 31, 2025				Dec. 31, 2024				Sep. 30, 2024
Net interest income (GAAP)		$	599,697			$	577,948			$	544,547			$	369,779			$	351,480
Total average interest-earning assets			58,727,110				57,710,001				57,497,453				42,295,376				41,223,980
NIM, non-tax equivalent			4.05	%			4.02	%			3.84	%			3.48	%			3.39	%
Tax equivalent adjustment (included in NIM, TE)			718				672				784				547				486
Net interest income, tax equivalent (Non-GAAP)		$	600,415			$	578,620			$	545,331			$	370,326			$	351,966
NIM, TE (Non-GAAP)			4.06	%			4.02	%			3.85	%			3.48	%			3.40	%

		Three Months Ended																				Nine Months Ended
(Dollars in thousands, except per share data)		Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,				Sep. 30,				Sep. 30,				Sep. 30,
RECONCILIATION OF GAAP TO NON-GAAP		2025				2025				2025				2024				2024				2025				2024
Adjusted Net Income (non-GAAP) (2)
Net income (GAAP)		$	246,641			$	215,224			$	89,080			$	144,178			$	143,179			$	550,945			$	390,605
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)			16,032				18,593				53,094				5,026				2,536				87,719				10,348
Deferred tax asset remeasurement			—				—				5,581				—				—				5,581				—
FDIC special assessment, net of tax			—				—				—				(478)				—				—				3,362
Adjusted net income (non-GAAP)		$	262,673			$	233,817			$	219,282			$	148,764			$	145,715			$	715,772			$	404,315
Adjusted Net Income per Common Share - Basic (non-GAAP) (2)
Earnings per common share - Basic (GAAP)		$	2.44			$	2.12			$	0.88			$	1.89			$	1.88			$	5.43			$	5.12
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)				—				—				(1.77)				—
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)			0.16				0.18				0.52				0.07				0.03				0.87				0.14
Effect to adjust for deferred tax asset remeasurement			—				—				0.06				—				—				0.06				—
Effect to adjust for FDIC special assessment, net of tax			—				—				—				(0.01)				—				—				0.04
Adjusted net income per common share - Basic (non-GAAP)		$	2.60			$	2.30			$	2.16			$	1.95			$	1.91			$	7.06			$	5.30
Adjusted Net Income per Common Share - Diluted (non-GAAP) (2)
Earnings per common share - Diluted (GAAP)		$	2.42			$	2.11			$	0.87			$	1.87			$	1.86			$	5.41			$	5.09
Effect to adjust for securities losses, net of tax			—				—				1.76				0.00				—				1.75				—
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)			0.16				0.19				0.52				0.07				0.04				0.87				0.14
Effect to adjust for deferred tax remeasurement			—				—				0.05				—				—				0.05				—
Effect to adjust for FDIC special assessment, net of tax			—				—				—				(0.01)				—				—				0.04
Adjusted net income per common share - Diluted (non-GAAP)		$	2.58			$	2.30			$	2.15			$	1.93			$	1.90			$	7.03			$	5.27
Adjusted Return on Average Assets (non-GAAP) (2)
Return on average assets (GAAP)			1.49	%			1.34	%			0.56	%			1.23	%			1.25	%			1.14	%			1.15	%
Effect to adjust for securities losses, net of tax			—	%			—	%			1.13	%			0.00	%			—	%			0.37	%			—	%
Effect to adjust for gain on sale leaseback, net of transaction costs and tax			—	%			—	%			(1.13)	%			—	%			—	%			(0.37)	%			—	%
Effect to adjust for PCL - Non-PCD loans and UFC, net of tax			—	%			—	%			0.45	%			—	%			—	%			0.15	%			—	%
Effect to adjust for merger, branch consolidation, severance related and other expense, net of tax (8)			0.10	%			0.11	%			0.33	%			0.04	%			0.02	%			0.18	%			0.03	%
Effect to adjust for deferred tax remeasurement			—	%			—	%			0.04	%			—	%			—	%			0.01	%			—	%
Effect to adjust for FDIC special assessment, net of tax			—	%			—	%			—	%			(0.00)	%			—	%			—	%			0.01	%
Adjusted return on average assets (non-GAAP)			1.59	%			1.45	%			1.38	%			1.27	%			1.27	%			1.48	%			1.19	%
Adjusted Return on Average Common Equity (non-GAAP) (2)
Return on average common equity (GAAP)			11.04	%			9.93	%			4.29	%			9.72	%			9.91	%			8.50	%			9.29	%
Effect to adjust for securities losses, net of tax			—	%			—	%			8.61	%			0.00	%			—	%			2.76	%			—	%
Effect to adjust for gain on sale leaseback, net of transaction costs and tax			—	%			—	%			(8.63)	%			—	%			—	%			(2.76)	%			—	%
Effect to adjust for PCL - Non-PCD loans and UFC, net of tax			—	%			—	%			3.46	%			—	%			—	%			1.11	%			—	%
Effect to adjust for merger, branch consolidation, severance related and other expense, net of tax (8)			0.71	%			0.86	%			2.56	%			0.34	%			0.17	%			1.35	%			0.25	%
Effect to adjust for deferred tax remeasurement			—	%			—	%			0.27	%			—	%			—	%			0.09	%			—	%
Effect to adjust for FDIC special assessment, net of tax			—	%			—	%			—	%			(0.03)	%			—	%			—	%			0.08	%
Adjusted return on average common equity (non-GAAP)			11.75	%			10.79	%			10.56	%			10.03	%			10.08	%			11.05	%			9.62	%
Return on Average Common Tangible Equity (non-GAAP) (3)
Return on average common equity (GAAP)			11.04	%			9.93	%			4.29	%			9.72	%			9.91	%			8.50	%			9.29	%
Effect to adjust for intangible assets			8.58	%			8.24	%			4.70	%			5.37	%			5.72	%			7.30	%			5.65	%
Return on average tangible equity (non-GAAP)			19.62	%			18.17	%			8.99	%			15.09	%			15.63	%			15.80	%			14.94	%
Adjusted Return on Average Common Tangible Equity (non-GAAP) (2) (3)
Return on average common equity (GAAP)			11.04	%			9.93	%			4.29	%			9.72	%			9.91	%			8.50	%			9.29	%
Effect to adjust for securities losses, net of tax			—	%			—	%			8.61	%			0.00	%			—	%			2.76	%			—	%
Effect to adjust for gain on sale leaseback, net of transaction costs and tax			—	%			—	%			(8.63)	%			—	%			—	%			(2.76)	%			—	%
Effect to adjust for PCL - Non-PCD loans and UFC, net of tax			—	%			—	%			3.46	%			—	%			—	%			1.11	%			—	%
Effect to adjust for merger, branch consolidation, severance related and other expense, net of tax (8)			0.71	%			0.86	%			2.56	%			0.34	%			0.18	%			1.35	%			0.25	%
Effect to adjust for deferred tax remeasurement			—	%			—	%			0.27	%			—	%			—	%			0.09	%			—	%
Effect to adjust for FDIC special assessment, net of tax			—	%			—	%			—	%			(0.03)	%			—	%			—	%			0.08	%
Effect to adjust for intangible assets, net of tax			9.06	%			8.82	%			9.29	%			5.53	%			5.80	%			9.05	%			5.82	%
Adjusted return on average common tangible equity (non-GAAP)			20.81	%			19.61	%			19.85	%			15.56	%			15.89	%			20.10	%			15.44	%

		Three Months Ended																				Nine Months Ended
		Sep. 30,				Jun. 30,				Mar. 31,				Dec. 31,				Sep. 30,				Sep. 30,				Sep. 30,
RECONCILIATION OF GAAP TO NON-GAAP		2025				2025				2025				2024				2024				2025				2024
Adjusted Efficiency Ratio (non-GAAP) (4)
Efficiency ratio			49.88	%			52.75	%			60.97	%			55.73	%			56.58	%			54.35	%			57.35	%
Effect to adjust for securities losses			—	%			—	%			(13.35)	%			—	%			—	%			(5.01)	%			—	%
Effect to adjust for gain on sale leaseback, net of transaction costs			—	%			—	%			13.39	%			—	%			—	%			5.01	%			—	%
Effect to adjust for merger, branch consolidation, severance related and other expense (8)			(2.99)	%			(3.66)	%			(10.77)	%			(1.45)	%			(0.78)	%			(5.67)	%			(1.07)	%
Effect to adjust for FDIC special assessment			—	%			—	%			—	%			0.14	%			—	%			—	%			(0.35)	%
Adjusted efficiency ratio			46.89	%			49.09	%			50.24	%			54.42	%			55.80	%			48.68	%			55.93	%
Tangible Book Value Per Common Share (non-GAAP) (3)
Book value per common share (GAAP)		$	89.14			$	86.71			$	84.99			$	77.18			$	77.42
Effect to adjust for intangible assets			(34.66)				(34.75)				(34.92)				(26.07)				(26.16)
Tangible book value per common share (non-GAAP)		$	54.48			$	51.96			$	50.07			$	51.11			$	51.26
Tangible Equity-to-Tangible Assets (non-GAAP) (3)
Equity-to-assets (GAAP)			13.64	%			13.36	%			13.24	%			12.70	%			12.81	%
Effect to adjust for intangible assets			(4.83)	%			(4.90)	%			(4.99)	%			(3.91)	%			(3.94)	%
Tangible equity-to-tangible assets (non-GAAP)			8.81	%			8.46	%			8.25	%			8.79	%			8.87	%

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 $83.0 million, $63.5 million, $61.8 million, $2.9 million, and $2.9 million during the quarters ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, respectively, and $208.3 million and $11.5 million during the nine months ended September 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 $20.9 million, $24.4 million, $68.0 million, $6.5 million, and $3.3 million for the quarters ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, respectively, and $113.3 million and $13.6 million for the nine months ended September 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 nine months ended September 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 nine months ended September 30, 2025; (d) pre-tax FDIC special assessment of $(621,000) for the quarter ended December 31, 2024 and $4.5 million for the nine months ended September 30, 2024; and (e) deferred tax asset remeasurement of $5.6 million for the quarter ended March 31, 2025 and for the nine months ended September 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 $23.4 million, $24.0 million, $23.8 million, $5.3 million, and $5.3 million for the quarters ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, respectively and $71.3 million and $17.1 million for the nine months ended September 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)	September 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 $3,000, $(3.6) million, $111,000, $329,000, and $56,000 for the quarters ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, respectively, and $(3.5) million, and $8.0 million for the nine months ended September 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) inflationary risks negatively impacting our business and profitability, earnings and budgetary projections, or demand for our products and services; (9) a decrease in our net interest income due to the interest rate environment; (10) liquidity risk affecting the Bank's ability to meet its obligations when they come due; (11) unexpected outflows of uninsured deposits may require us to sell investment securities at a loss; (12) potential deterioration in real estate values; (13) the loss of value of our investment portfolio could negatively impact market perceptions of us and could lead to deposit withdrawals; (14) price risk focusing on changes in market factors that may affect the value of traded instruments in "mark-to-market" portfolios; (15) transaction risk arising from problems with service or product delivery; (16) 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; (17) 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; (18) 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; (19) 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; (20) 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; (21) 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; (22) risks related to the legal, regulatory, and supervisory environment, including changes in financial services legislation, regulation, policies, or government officials or other personnel; (23) strategic risk resulting from adverse business decisions or improper implementation of business decisions; (24) 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; (25) 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; (26) 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; (27) excessive loan losses; (28) reputational risk and possible higher than estimated reduced revenue from previously announced or proposed regulatory changes in the Bank's consumer programs and products; (29) 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; (30) 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; (31) geopolitical risk from terrorist activities and armed conflicts that may result in economic and supply disruptions, and loss of market and consumer confidence; (32) the risks of fluctuations in market prices for SouthState common stock that may or may not reflect economic condition or performance of SouthState; (33) 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; (34) ownership dilution risk associated with potential acquisitions in which SouthState's stock may be issued as consideration for an acquired company; and (35) 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-bank-corporation-reports-third-quarter-2025-results-declares-quarterly-cash-dividend-302591914.html

SOURCE SouthState Bank Corporation

FAQ

What did SouthState (SSB) report for diluted EPS in Q3 2025?

SouthState reported diluted EPS of $2.42 and adjusted diluted EPS of $2.58 for Q3 2025.

How much net income did SouthState (SSB) record in Q3 2025?

Net income for Q3 2025 was $246.6 million.

When is the SouthState (SSB) Q4 2025 dividend payable and what is the amount?

The Board declared a quarterly cash dividend of $0.60 per share payable on November 14, 2025 to shareholders of record on November 7, 2025.

What were SouthState's loan and deposit changes in Q3 2025 (SSB)?

Loans increased about $401 million (3%) and deposits increased about $376 million (3%) quarter-over-quarter.

What was SouthState's net interest margin (NIM) in Q3 2025 for SSB?

Net interest margin was reported at 4.05% (non-tax equivalent).

How did credit quality appear for SouthState (SSB) in Q3 2025?

Q3 reported net charge-offs of $32.2 million and an allowance for credit losses plus reserve of 1.38% of loans.

Did SouthState (SSB) complete any notable capital actions in Q3 2025?

Yes; the company redeemed a total of $405 million of subordinated debentures during the quarter.