SouthState Corporation
- Open
- 102.88
- Day high
- 103.56
- Day low
- 101.70
- Prev close
- 103.19
- Volume
- 636K
- Mkt cap
- $10.0B
- P/E (TTM)
- 11.0
- EPS (TTM)
- $9.33
- P/B
- 1.1
- P/S
- 2.6
- Yield
- 1.17%
- Per share
- $1.20
- ▼Insiders net selling -$1.4M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
SouthState Corporation (SSB) is a Financial Services company listed on NYSE. The stock is up 5% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
SouthState Corporation (SSB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SSB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $2.21 | $2.28 | +3.2% | $662M | -1.1% |
| Jan 22, 2026 | $2.30 | $2.47 | +7.4% | $687M | +2.6% |
| Oct 22, 2025 | $2.11 | $2.58 | +22.3% | $699M | +5.3% |
| Jul 24, 2025 | $2.00 | $2.30 | +15.0% | $665M | +1.6% |
| Apr 24, 2025 | $1.43 | $2.15 | +50.3% | $631M | +3.0% |
| Jan 23, 2025 | $1.75 | $1.93 | +10.3% | $450M | -16.9% |
| Oct 23, 2024 | $1.64 | $1.90 | +15.9% | $426M | -0.7% |
| Jul 24, 2024 | $1.54 | $1.79 | +16.2% | $425M | -1.2% |
| Apr 25, 2024 | $1.55 | $1.58 | +1.9% | $415M | +0.3% |
| Jan 25, 2024 | $1.54 | $1.67 | +8.4% | $381M | -8.8% |
| Oct 26, 2023 | $1.63 | $1.62 | -0.6% | $428M | +0.0% |
| Jul 27, 2023 | $1.83 | $1.63 | -10.9% | $439M | +1.1% |
SSB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 5, 2026 | Cooper Shantella E.director | Grant | 312 | $96.46 |
| May 5, 2026 | POU WILLIAM K JRdirector | Grant | 260 | $96.46 |
| May 5, 2026 | PAGE G RUFFNER JRdirector | Grant | 260 | $96.46 |
| May 5, 2026 | Hertz Douglas J.director | Grant | 506 | $96.46 |
| May 4, 2026 | Cofield Ronald M.director | Grant | 1,050 | $97.48 |
| May 4, 2026 | Sasse Benjamin Edirector | Grant | 1,050 | $97.48 |
| May 4, 2026 | DAVIS MARTIN BERNARDdirector | Grant | 1,050 | $97.48 |
| May 4, 2026 | SNIVELY JOSHUA Adirector | Grant | 1,050 | $97.48 |
| May 4, 2026 | Froetscher Janet Pdirector | Grant | 1,050 | $97.48 |
| May 4, 2026 | ROQUEMORE JAMES Wdirector | Grant | 1,050 | $97.48 |
| May 4, 2026 | METZ MERRIANNdirector | Grant | 1,050 | $97.48 |
| May 4, 2026 | SMITH G STACYdirector | Grant | 1,050 | $97.48 |
| May 4, 2026 | Cooper Shantella E.director | Grant | 1,050 | $97.48 |
| May 4, 2026 | SALYERS DAVID Gdirector | Grant | 1,050 | $97.48 |
| May 4, 2026 | PAGE G RUFFNER JRdirector | Grant | 1,050 | $97.48 |
Source: SSB SEC Form 4 filings, latest May 5, 2026. For informational purposes only — not investment advice.
See the full SSB insider & 13F page →SouthState Corporation company profile
Overview
SouthState Corporation (NASDAQ:SSB) is a regional bank holding company founded in 1933 and headquartered in Winter Haven, Florida. Originally known as First Financial Holdings, Inc., the company changed its name to SouthState Corporation in July 2013. Through its primary subsidiary SouthState Bank, National Association, the company has grown through strategic acquisitions to become a significant regional banking presence across the southeastern United States. The bank operates approximately 281 branches across Florida, South Carolina, Alabama, Georgia, North Carolina, and Virginia, with recent expansion into Texas and Colorado through the 2025 acquisition of Independent Financial. SouthState has positioned itself as a growth-oriented regional bank serving high-growth demographic markets in the Southeast.
Business
SouthState Corporation operates in the regional banking industry, providing traditional banking services and products to both individual consumers and businesses across the southeastern United States. Regional banks like SouthState serve as intermediaries between depositors and borrowers, accepting deposits from customers and using those funds to make loans to other customers and businesses. The company's core business revolves around commercial and retail banking services. On the deposit side, SouthState accepts various types of customer deposits including checking accounts, savings accounts, certificates of deposit (CDs), money market accounts, and other time deposits. These deposits form the primary funding source for the bank's lending activities. On the lending side, the bank provides several loan categories: 1. Commercial real estate loans represent a significant portion of the portfolio, financing properties like office buildings, retail centers, and industrial facilities for business customers. 2. Residential real estate loans include mortgages for individual homebuyers, representing another major lending category. 3. Commercial and industrial (C&I) loans provide working capital and equipment financing to businesses of various sizes. 4. Consumer loans encompass personal installment loans, auto loans, boat loans, and other individual borrowing needs. Beyond traditional banking, SouthState offers wealth management and trust services generating approximately $45.5 million in annual revenue, treasury management services for business customers including merchant services and automated clearing house (ACH) processing, and various fee-based services like safe deposit boxes, wire transfers, and brokerage services. The bank also provides digital banking platforms including online, mobile, and telephone banking to serve customers across its geographic footprint.
Revenue model
SouthState Corporation generates revenue through the traditional banking model of net interest income and fee-based services. The primary revenue driver is the interest rate spread between what the bank pays depositors for their funds and what it charges borrowers for loans. This net interest margin (NIM) has been running around 3.40-3.85% in recent quarters, meaning the bank earns approximately 3.40-3.85 cents for every dollar of earning assets. The bank's customers fall into two main categories: individual consumers who maintain deposit accounts and borrow for homes, cars, and personal needs, and commercial customers including small businesses, middle-market companies, and larger enterprises that require business loans, treasury management services, and commercial real estate financing. Commercial customers typically generate higher margins and fee income compared to retail customers. Fee-based revenue streams include wealth management services generating around $45 million annually, treasury management fees from business customers, mortgage banking income from loan origination and servicing, and various service charges and fees. Non-interest income typically represents 50-65 basis points of total assets. Several factors influence SouthState's profitability margins. Interest rate environment significantly impacts the bank's net interest margin - rising rates generally benefit the bank as loan yields reprice faster than deposit costs, while falling rates can compress margins. The bank's deposit beta (how quickly deposit rates follow market rate changes) of around 30-34% provides some protection during rate cycles. Credit quality affects margins through loan loss provisions - economic downturns or specific sector stress can require higher reserves and charge-offs. Competition for deposits in the bank's markets influences funding costs, while loan demand and pricing competition affect asset yields. The bank's focus on high-growth southeastern markets provides tailwinds from population and economic growth, but also brings competitive pressure from other financial institutions targeting the same attractive demographics.
Competitive moat
SouthState Corporation operates in the highly competitive regional banking sector where traditional moats are relatively modest. The company's primary competitive advantages stem from its geographic positioning and local market relationships. The bank has established a meaningful presence across high-growth southeastern states including Florida, the Carolinas, Georgia, and Alabama, with recent expansion into Texas through acquisition. These markets benefit from favorable demographic trends including population growth, business relocations, and economic development. The bank's relationship-based banking model provides some defensive characteristics, as commercial customers often maintain multi-product relationships that create switching costs. SouthState's focus on middle-market commercial lending and community banking relationships can generate customer loyalty and cross-selling opportunities that online-only competitors struggle to replicate. However, the banking industry faces significant competitive pressures that limit moat strength. Large national banks like JPMorgan Chase and Bank of America have superior scale, technology resources, and funding advantages. Credit unions often offer more attractive deposit rates due to their tax-advantaged status. Fintech companies and online banks can provide higher deposit rates and more convenient digital services without the overhead of physical branches. Non-bank lenders compete aggressively in commercial lending markets. The regulatory environment also constrains competitive positioning, as banks face capital requirements, compliance costs, and regulatory oversight that limit flexibility. Interest rate risk and credit risk are inherent to the banking model, making earnings somewhat cyclical and dependent on economic conditions. While SouthState has built a solid regional franchise, the banking industry's commoditized nature and intense competition suggest the company's moat is relatively narrow, relying primarily on local relationships and market positioning rather than sustainable competitive advantages.
Risks & safety
SouthState Corporation presents a moderate margin of safety profile typical of well-capitalized regional banks, though recent acquisition activity has increased leverage and integration risks. • Capital Position: CET1 capital ratio of 11% provides adequate regulatory buffer above minimum requirements • Asset Quality: Net charge-offs remain low at 5-6 basis points, with non-performing loans showing only modest increases • Liquidity: Cash and short-term investments of $688 million provide operational flexibility • Debt Management: Debt-to-equity ratio of 6.5% indicates conservative leverage, though this has increased from recent acquisition activity • Valuation Metrics: Trading at 26.4x forward P/E and 1.09x book value, representing reasonable but not compelling valuations for a regional bank • Profitability: Return on equity of 9.1% (2024) demonstrates solid profitability, though below historical banking sector averages • Efficiency: Efficiency ratio of 54.4% shows reasonable cost control • Integration Risk: Recent Independent Financial acquisition creates execution risk and potential for unexpected costs • Interest Rate Sensitivity: Asset-sensitive balance sheet benefits from rising rates but vulnerable to rate cuts • Geographic Concentration: Heavy exposure to southeastern markets creates regional economic risk
Recent development
Over the past several years, SouthState Corporation has pursued an aggressive growth strategy centered on strategic acquisitions and geographic expansion. The most significant recent development was the January 2025 completion of the Independent Financial acquisition, which expanded the bank's footprint into Texas and Colorado markets and added approximately $19 billion in assets. This merger is expected to provide 27% earnings per share accretion and represents the company's largest acquisition to date. The company has also undertaken significant operational restructuring initiatives, including a sale-leaseback transaction of approximately 170 branches that generated $225 million in off-balance sheet capital. This move reflects management's focus on optimizing the physical footprint while maintaining market presence in key growth markets. Technology infrastructure investments have been a consistent theme, with the company investing $68 million more in technology compared to 2020 levels. A major system conversion scheduled for Memorial Day 2025 will integrate Independent Financial's operations and modernize the combined entity's technology platform. From a balance sheet perspective, SouthState has focused on margin expansion strategies including securities portfolio restructuring and deposit pricing optimization. The bank has maintained disciplined loan growth in the mid-single digits while emphasizing credit quality and relationship-based lending. Management has also demonstrated capital allocation discipline through selective branch consolidation, strategic hiring in key markets, and maintaining flexibility for future acquisitions or capital returns to shareholders. The company's strategic vision targets reaching $60-80 billion in assets, positioning itself as a scaled regional player capable of competing effectively with larger banks while maintaining community banking relationships.
SSB company profile · for informational purposes only — not investment advice.
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