SouthState Highlights ESG Commitment in 2024 Corporate Social Responsibility (CSR) Report

Rhea-AI Summary

SouthState Bank releases its 2024 Corporate Social Responsibility report, showcasing its dedication to communities, colleagues, corporate stewardship, and the environment. Key highlights include grants to 1,839 organizations, $1.39 billion in CRA-eligible loans, $245 million in community development loans, and $567 million in affordable lending mortgage loan programs.

Positive

• SouthState Bank's commitment to community is evident through grants and contributions to 1,839 organizations totaling $5.8 million.
• The bank recorded a significant 28 percent increase in employee volunteer hours, reaching 15,352 hours with 905 different organizations.
• SouthState Bank extended $245 million in community development loans, demonstrating a strong dedication to fostering economic development and affordable housing projects.
• The bank's investment in environmental resourcefulness is highlighted by saving 1.2 million gallons of water, 1.02 million pounds of CO2 emissions, and 67,000 pounds of solid waste reduction.
• SouthState Bank's commitment to corporate stewardship is reflected in initiatives like the 'Unconscious Bias' training for leaders and the 'Infoship' program for college students.
• The bank's continued support for colleagues is shown through programs like The Sunshine Fund, providing financial assistance to team members in need, and the ReMARKable Leader program for cultivating internal high-potential leaders.

Negative

• None.

WINTER HAVEN, Fla., April 9, 2024 /PRNewswire/ -- SouthState Bank has released its fourth Corporate Social Responsibility (CSR) report, highlighting the company's commitment to its communities, colleagues, corporate stewardship and the environment.

"For 90 years, SouthState's focus on serving and strengthening the communities in which we live and do business has afforded us the opportunity to build meaningful and lasting relationships with many non-profit and community-based organizations across our six-state footprint," said LeDon Jones, director of Corporate Stewardship. "Through volunteerism, engagement, and philanthropy, we have impacted the lives of our customers, communities and our 5,000+ team members."

Highlights of the 2024 CSR report include:

Commitment to Community:

• Awarded 1,839 organizations grants and contributions, totaling $5.8 million.
• Recorded a 28 percent increase in employee volunteer hours, totaling 15,352 hours with 905 different organizations.
• Made $1.39 billion in CRA-eligible loans.
• Extended $245 million in community development loans.
• Invested $89 million to foster economic development and affordable housing projects.
• Provided $567 million in affordable lending mortgage loan programs.

Commitment to Colleagues:

• Provided $229,000 in financial assistance to 101 team members through The Sunshine Fund, a 501(c)(3) organization funded by Company and employee contributions, which are used to assist employees with unexpected financial hardships.
• Continued the ReMARKable Leader program, an immersive 9-month program designed to cultivate internal high-potential leaders to take the next step in their career development. To date, 41 of our team members have graduated from the program, and they continue to contribute in new and unique ways to our Company.

Commitment to Corporate Stewardship:

• Maintained a tenured and diverse board of directors. Fifty-five percent of the Board has CEO-level experience, and 36 percent have senior executive experience at financial institutions.
• Implemented "Unconscious Bias" training for leaders in 2023, with plans to reach the remaining workforce in 2024.
• Launched an "Infoship" program, an 11-week virtual program that exposes college students to diverse careers in banking, facilitated by SouthState senior leaders.

Commitment to Environmental Resourcefulness:

• Ongoing investment in technology that enables customers and team members to access digital solutions for their needs. With 48 percent of accounts receiving eStatements, the bank's reduced environmental impact includes the following highlights:
  • 1.2 million gallons of water saved
  • 1.02 million pounds of CO₂ emissions saved
  • 67,000 pounds of solid waste reduction
  • 21.2 acres of forest saved

SouthState's CSR report and more information are available on the bank's Corporate Stewardship page.

SouthState Corporation (NYSE: SSB) 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 one million customers throughout Florida, Alabama, Georgia, the Carolinas and Virginia. The bank also serves clients coast to coast through its correspondent banking division. Additional information is available at SouthStateBank.com.

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SOURCE South-State Bank N.A.

FAQ

How many organizations received grants and contributions from SouthState Bank in the 2024 CSR report?

1,839 organizations received grants and contributions from SouthState Bank in the 2024 CSR report, totaling $5.8 million.

What was the total amount of CRA-eligible loans made by SouthState Bank in the CSR report?

SouthState Bank made $1.39 billion in CRA-eligible loans as per the CSR report.

How much did SouthState Bank invest in community development loans according to the CSR report?

SouthState Bank extended $245 million in community development loans as highlighted in the CSR report.

What environmental impact did SouthState Bank achieve through its initiatives in the CSR report?

SouthState Bank's environmental initiatives saved 1.2 million gallons of water, 1.02 million pounds of CO2 emissions, and 67,000 pounds of solid waste reduction as per the CSR report.

What programs did SouthState Bank offer for colleagues in the CSR report?

SouthState Bank provided financial assistance through The Sunshine Fund and continued the ReMARKable Leader program for internal high-potential leaders as per the CSR report.