Welcome to our dedicated page for Southstate Corporation news (Ticker: SSB), a resource for investors and traders seeking the latest updates and insights on Southstate Corporation stock.
SouthState Corporation (NASDAQ: SSB) is a financial services company headquartered in Winter Haven, Florida. Established in 1934, SouthState has grown from a small community bank to one of the leading regional banks in the Southeastern United States. The company operates through its wholly-owned bank subsidiary, SouthState Bank, N.A., providing a comprehensive range of banking products and services.
SouthState Bank offers retail and commercial banking services, mortgage lending, trust and investment services, and consumer finance loans. These services are provided through a network of financial centers across Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia. The Bank's offerings include demand, time, and savings deposits, lending and credit card services, ATM processing, and wealth management.
Committed to innovation, SouthState recently expanded its Payments Technology and Private Capital Solutions teams. Notable additions include David Rauch, Michael Fulton, Brittany Styron, and Garrett Nagy, who bring decades of industry expertise to the company.
SouthState continues to grow and adapt, as seen in their announcement to transfer stock listing from the Nasdaq Global Select Market to the New York Stock Exchange on December 19, 2023. This move aims to align with NYSE’s tradition of listing industry-leading companies, enhancing visibility and investor reach.
In terms of financial performance, SouthState reported a 7% loan growth for the year ending December 31, 2023, reflecting resilience and strategic positioning in fast-growing states like Florida. The company remains cautious of rate increases but sees significant opportunities ahead.
In a major development, SouthState announced the acquisition of Independent Bank Group, Inc. Based in McKinney, Texas, this $2 billion all-stock transaction will expand SouthState’s footprint to 12 of the 15 fastest-growing metropolitan statistical areas in the U.S., adding significant assets, deposits, and loans. This strategic acquisition will bolster SouthState's market position and operational capabilities.
SouthState is deeply rooted in its founding principles of valuing personal relationships over financial transactions, active community involvement, and a family-like employee culture. The company’s ongoing initiatives to attract top talent and provide advanced solutions position it as a robust financial institution dedicated to serving its diverse client base.
To stay updated on SouthState's latest news and financial performance, visit SouthStateBank.com.
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