SouthState Bank Corp SSB
SouthState Bank Corporation ("We," "Our," "SouthState" or the "Company") is a financial holding company headquartered in Winter Haven, Florida. During the third quarter of 2025, the Company was redomiciled to the state of Florida by merging SouthState Corporation, a South Carolina corporation, with and into SouthState Bank Corporation, a Florida corporation that was wholly-owned by SouthState Corporation prior to such merger, and adopting its name. We provide a wide range of banking services and products to our customers through our wholly owned bank subsidiary, SouthState Bank, National Association (the "Bank"), a national banking association, from our headquarters branch in Winter Haven, Florida and, as of December 31, 2025, a 342-branch network located throughout Florida, South Carolina, Texas, Georgia, Colorado, North Carolina, Alabama, and Virginia. In addition, the Company owns SSB Insurance Corp., a captive insurance subsidiary pursuant to Section 831(b) of the U.S. Tax Code, which has been in dissolution since 2024. We do not engage in any significant operations other than the ownership of our banking subsidiary.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.38B | $2.14B | $1.94B | $1.40B | $1.08B | $910.0M | $590.8M | $567.2M | $426.0M | $333.2M |
| Interest expense | $2.30B | $1.42B | $1.45B | $1.34B | $51.6M | $83.6M | $86.6M | $54.0M | $17.0M | $8.3M |
| Pre-tax income | $1.04B | $700.2M | $630.9M | $633.4M | $604.3M | $104.0M | $230.4M | $224.3M | $168.8M | $154.0M |
| Income tax | $241.5M | $165.5M | $136.5M | $137.3M | $128.7M | $16.7M | $43.9M | $45.4M | $81.3M | $52.8M |
| Net income | $798.7M | $534.8M | $494.3M | $496.0M | $475.5M | $120.6M | $186.5M | $178.9M | $87.6M | $101.3M |
| EPS, basic | 7.90 | 7.01 | 6.50 | 6.65 | 6.76 | 2.20 | 5.40 | 4.90 | 2.95 | 4.22 |
| EPS, diluted | 7.87 | 6.97 | 6.46 | 6.60 | 6.71 | 2.19 | 5.36 | 4.86 | 2.93 | 4.18 |
| Shares, diluted (wtd. avg.) | $101.5M | $76.8M | $76.5M | $75.2M | $70.9M | $55.1M | $34.8M | $36.8M | $29.9M | $24.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.17B | $1.39B | $998.9M | $1.31B | $6.72B | $4.61B | $688.7M | $409.0M | $377.6M | $374.4M |
| Property, plant and equipment | — | — | — | — | — | — | $317.3M | $241.1M | $255.6M | $183.5M |
| Goodwill | $3.09B | $1.92B | $1.92B | $1.92B | $1.58B | $1.56B | $1.00B | $1.00B | $999.6M | $338.3M |
| Other intangibles | $386.3M | $66.5M | $88.8M | $116.5M | $128.1M | $162.6M | $49.8M | $62.9M | $73.8M | $39.8M |
| Total assets | $67.20B | $46.38B | $44.90B | $43.92B | $41.84B | $37.79B | $15.92B | $14.68B | $14.47B | $8.90B |
| Long-term debt | — | — | — | — | — | — | — | — | — | $55.4M |
| Total liabilities | $58.14B | $40.49B | $39.37B | $38.84B | $37.04B | $33.14B | $13.55B | $12.31B | $12.16B | $7.77B |
| Retained earnings | $2.61B | $2.05B | $1.69B | $1.35B | $997.7M | $657.5M | $679.9M | $551.1M | $419.8M | $370.9M |
| Total equity | $9.06B | $5.89B | $5.53B | $5.07B | $4.80B | $4.65B | $2.37B | $2.37B | $2.31B | $1.13B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $300.8M | $512.0M | $546.8M | $1.73B | $415.7M | $536.9M | $181.0M | $283.7M | $197.9M | $138.0M |
| Depreciation and amortisation | $34.0M | $28.9M | $28.2M | $29.4M | $29.2M | $25.3M | $18.2M | $18.7M | $15.2M | $21.6M |
| Stock-based compensation | $37.0M | $28.0M | $35.9M | $35.6M | $25.7M | $23.3M | $8.8M | $8.8M | $6.9M | $6.2M |
| Capital expenditure | $70.3M | $35.8M | $38.9M | $17.7M | $28.4M | $16.9M | $15.8M | $14.5M | $15.2M | $25.8M |
| Investing cash flow | $20.8M | -$886.2M | -$1.43B | -$4.86B | -$2.32B | $1.23B | -$795.1M | -$282.1M | -$60.9M | -$690.9M |
| Financing cash flow | $1.46B | $767.4M | $566.0M | -$2.28B | $4.02B | $2.15B | $893.7M | $29.8M | -$133.8M | $231.6M |
| Dividends paid | $231.3M | $162.9M | $156.2M | $146.7M | $135.3M | $98.3M | $57.7M | $50.6M | $38.6M | $29.3M |
| Buybacks | $235.8M | $16.8M | $16.1M | $119.3M | $147.4M | $32.4M | $159.4M | $70.6M | $5.5M | $6.0M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-017884.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |