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Southstate Corporation - SSB STOCK NEWS

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.

About SouthState Corporation

SouthState Corporation (NYSE: SSB) is a prominent financial services company headquartered in Winter Haven, Florida. Operating through its wholly owned subsidiary, SouthState Bank, N.A., the company provides a comprehensive suite of banking and financial solutions to individuals, businesses, and institutions across the southeastern United States and beyond. With a focus on fostering community relationships and delivering tailored financial services, SouthState has built a reputation as a trusted regional banking partner.

Core Business Areas

SouthState Corporation's operations are centered around four primary business segments:

  • Retail and Commercial Banking: Offering demand, time, and savings deposit accounts, as well as lending products, credit card services, and ATM processing. These services cater to the needs of individual customers and businesses, ensuring a seamless banking experience.
  • Mortgage Lending: Providing residential mortgage solutions to support homeownership while addressing the unique needs of borrowers across its service regions.
  • Wealth Management and Trust Services: Delivering personalized investment management, estate planning, and financial advisory services to help clients build and preserve wealth.
  • Correspondent Banking: Serving financial institutions nationwide with liquidity management, lending, and other specialized banking solutions.

Regional Footprint and Market Presence

SouthState Bank operates an extensive network of financial centers across Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia, Texas, and Colorado. This geographic reach positions the company in some of the fastest-growing metropolitan statistical areas (MSAs) in the United States, enabling it to capitalize on regional economic growth and demographic trends. Its correspondent banking division extends its influence nationwide, further diversifying its revenue streams.

Strategic Growth and Acquisitions

SouthState Corporation has demonstrated a strategic approach to growth through mergers and acquisitions. A notable example is its acquisition of Independent Bank Group, which expanded its presence into Texas and Colorado, increased its asset base to approximately $65 billion, and added significant market share in high-growth regions. These acquisitions reflect SouthState's commitment to scaling its operations while maintaining its community-focused ethos.

Competitive Differentiation

SouthState distinguishes itself through its deep-rooted commitment to community banking principles. By prioritizing personal relationships over transactional interactions, the company fosters trust and loyalty among its customers. Additionally, its decentralized management model empowers regional teams to make decisions tailored to local market conditions, enhancing responsiveness and customer satisfaction. This approach, combined with its robust portfolio of financial services, positions SouthState as a formidable competitor in the regional banking sector.

Industry Challenges and Opportunities

Operating in a highly regulated and competitive industry, SouthState faces challenges such as fluctuating interest rates, evolving customer expectations, and increasing competition from fintech companies. However, its strategic focus on high-growth markets, disciplined credit practices, and investments in technology provide a solid foundation for navigating these challenges and capitalizing on emerging opportunities.

Commitment to Community and Employees

Since its inception in 1934, SouthState has emphasized community involvement and employee well-being. This philosophy, known as the "SouthState Way," underscores the company's dedication to treating employees like family and actively contributing to the communities it serves. This approach not only strengthens its brand reputation but also aligns with its mission to create long-term value for stakeholders.

Conclusion

SouthState Corporation exemplifies the principles of community-focused banking while leveraging its regional expertise and strategic growth initiatives to remain competitive in the financial services industry. With a diversified portfolio of services, a strong regional footprint, and a commitment to fostering relationships, SouthState continues to be a significant player in the southeastern United States and beyond.

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SouthState Corporation (NYSE: SSB) to release fourth quarter 2023 earnings results on January 25, 2024, followed by a conference call on January 26, 2024.
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SouthState Corporation (NASDAQ: SSB) is transferring the listing and trading of its common stock from the Nasdaq Global Select Market to the New York Stock Exchange (NYSE). The transfer is expected to commence on December 19, 2023, and the common stock will continue trading under the ticker symbol 'SSB'. SouthState Corporation is a financial services company headquartered in Winter Haven, Florida, providing consumer, commercial, mortgage, and wealth management solutions to over one million customers across several states.
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SouthState Bank (NASDAQ: SSB) adds new employees to its Wealth, Commercial, and Corporate Stewardship divisions. The new hires bring unique capabilities and experience to the company. Delpha Bartley-Jones, Rob Andrews, and Michael Samuel join the bank, each with a strong background in banking and finance. SouthState Corporation, headquartered in Winter Haven, Florida, serves over one million customers across several states.
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SouthState Bank announced the addition of experienced professionals to its Payments Technology and Private Capital Solutions teams to better serve its growing customer base. The new team members bring extensive experience from reputable financial institutions and are expected to contribute to the bank's focus on providing advanced solutions and private fund financing to its clients.
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SouthState Corporation releases Q3 2023 financial results, showing steady growth in loans and customer deposits. Net income of $124.1 million and diluted EPS of $1.62. Loans increased by $480 million and deposits increased by $193 million. The company declared a quarterly cash dividend of $0.52 per share.
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SouthState Corporation will release its third quarter 2023 earnings results on October 26, 2023, after the market closes. A conference call to discuss the results will be held on October 27, 2023. Investors may access the earnings results and conference call details on the company's website.
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SouthState Bank expands presence in Virginia's Hampton Roads market
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Loci Fund II GP, LLC announced the closing of a $25 million capital call facility with SouthState Bank. The facility will provide surety of financing for off-market investments and additional flexibility to syndicate investments. Loci's inaugural real estate fund fully allocated its $47 million commitments and raised $176 million of joint venture and co-investment capital. The relationship with SouthState allowed for the concurrent closing of the facility and the first close of Fund II.
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SouthState Corporation (NASDAQ: SSB) reports positive financial performance in Q2 2023 with 6% annualized growth in customer deposits and 11% annualized loan growth. Key metrics include ROAA of 1.11%, NIM of 3.62%, and Efficiency Ratio of 54%. The company increased its quarterly cash dividend on its common stock. The financial results demonstrate the value of SouthState's granular deposit franchise and its strong position in the Southeast.
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SouthState Corporation (NASDAQ: SSB) has recently launched a comprehensive small business banking team to meet the growing demand in its Southeastern footprint. The team is led by Matt Vegter, who developed a small business loan program called Business Lending Express. The team also includes experienced small business bankers from SouthState and other financial institutions. SouthState Corporation is a financial services company headquartered in Winter Haven, Florida, providing consumer, commercial, mortgage, and wealth management solutions to over one million customers throughout the Southeast.
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FAQ

What is the current stock price of Southstate Corporation (SSB)?

The current stock price of Southstate Corporation (SSB) is $92.37 as of March 6, 2025.

What is the market cap of Southstate Corporation (SSB)?

The market cap of Southstate Corporation (SSB) is approximately 9.6B.

What does SouthState Corporation do?

SouthState Corporation is a financial services company offering retail and commercial banking, mortgage lending, wealth management, and correspondent banking services.

Where does SouthState Bank operate?

SouthState Bank operates in Alabama, Florida, Georgia, North Carolina, South Carolina, Virginia, Texas, and Colorado, with correspondent banking services offered nationwide.

How does SouthState generate revenue?

SouthState generates revenue through interest income from loans, fees from banking services, wealth management advisory fees, and correspondent banking solutions.

What makes SouthState unique?

SouthState emphasizes community banking principles, prioritizing personal relationships and local decision-making, while offering a robust portfolio of financial services.

What was the significance of SouthState's acquisition of Independent Bank Group?

The acquisition expanded SouthState's presence into Texas and Colorado, increased its asset base, and enhanced its market position in high-growth regions.

What types of customers does SouthState serve?

SouthState serves individuals, businesses, and financial institutions, offering tailored banking and financial solutions to meet diverse needs.

What is the 'SouthState Way'?

The 'SouthState Way' refers to the company's commitment to valuing personal relationships, community involvement, and treating employees like family.

What industries does SouthState Bank's correspondent banking division serve?

SouthState's correspondent banking division serves financial institutions nationwide, offering liquidity management, lending, and specialized banking solutions.
Southstate Corporation

NYSE:SSB

SSB Rankings

SSB Stock Data

9.59B
100.34M
0.81%
70.4%
3.89%
Banks - Regional
State Commercial Banks
Link
United States
WINTER HAVEN