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EX-99.1

2 ssb-20260423xex99d1.htm

EX-99.1

Exhibit 99.1

​

​

​

​

SouthState Bank Corporation Reports First Quarter 2026 Results

Declares Quarterly Cash Dividend

For Immediate Release

​

Media Contact

​

Jackie Smith, 803.231.3486

WINTER HAVEN, FL – April 23, 2026 – SouthState Bank Corporation (“SouthState” or the “Company”) (NYSE: SSB) today released its unaudited results of operations and other financial information for the three-month period ended March 31, 2026.

​

“SouthState opened the year with strong momentum, posting solid balance sheet growth, record pipeline activity, and healthy profitability,” said John C. Corbett, SouthState’s Chief Executive Officer. “On an annualized basis, loans increased 7% and deposits grew 5%, and we continue to attract talented commercial bankers who are helping drive future growth. Asset quality remains strong, with annualized net charge-offs of just 9 basis points. In terms of profitability, we delivered a return on average assets of 1.37%. Over the past year, tangible book value per share increased 14%, even as we repurchased nearly 4% of our shares — underscoring our confidence in SouthState’s performance and our commitment to creating long-term value for shareholders.”

​

Highlights of the first quarter of 2026 include:

Returns

●Reported diluted Earnings per Share (“EPS”) and Adjusted Diluted EPS (Non-GAAP) of $2.28, up 162% year over year on a reported basis and 6% year over year on an adjusted basis

●Net Income of $225.8 million

●Return on Average Common Equity of 10.1%; Return on Average Tangible Common Equity (Non-GAAP) of 17.6%*

●Return on Average Assets (“ROAA”) of 1.37%*

●Book Value per Share of $92.21

●Tangible Book Value (“TBV”) per Share (Non-GAAP) of $56.90, an increase of 14% year over year, after raising the dividend by 11%, and repurchasing nearly 4% of the Company’s shares

Performance

●Net Interest Income of $562 million, an increase of $17 million, or 3%, year over year and a decrease of $20 million, or 3%, compared to the prior quarter

●Noninterest Income of $100 million, an increase of $14 million year over year and a decrease of $6 million compared to the prior quarter, driven primarily by correspondent banking and capital markets income; Noninterest Income represented 0.61% of average assets for the first quarter of 2026*

●Net Interest Margin (“NIM”), non-tax equivalent and tax equivalent (Non-GAAP), of 3.78% and 3.79%, respectively

●Net charge-offs totaled $10.5 million, or 0.09%* of average loans

●$10.8 million of Provision for Credit Losses (“PCL”); total Allowance for Credit Losses (“ACL”) plus reserve for unfunded commitments of 1.32% of loans

●Efficiency Ratio of 51%

Balance Sheet

●Loans increased by $898 million, or 7%*, and deposits increased by $730 million, or 5%*; ending loan to deposit ratio of 89%

●Total loan yield of 5.96%, down 0.17% from prior quarter

●Total deposit cost of 1.76%, down 0.06% from prior quarter

●Strong capital position with Tangible Common Equity, Total Risk-Based Capital, Tier 1 Leverage, and Tier 1 Common Equity ratios of 8.6%, 13.7%, 9.4%, and 11.3%, respectively†

Subsequent Events

●The Board of Directors of the Company declared a quarterly cash dividend on its common stock of $0.60 per share, payable on May 15, 2026 to shareholders of record as of May 8, 2026

​

∗ Annualized percentages

† Preliminary

​

Financial Performance

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

(Dollars in thousands, except per share data)

​

Mar. 31,

​

Dec. 31,

​

Sep. 30,

​

Jun. 30,

​

Mar. 31,

​

INCOME STATEMENT

​

2026

​

2025

​

2025

​

2025

​

2025

​

Interest Income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loans, including fees (1)

​

$

721,571

​

$

748,106

​

$

782,382

​

$

746,448

​

$

724,640

​

Investment securities, trading securities, federal funds sold and securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

purchased under agreements to resell

​

​

95,258

​

​

100,640

​

​

99,300

​

​

94,056

​

​

83,926

​

Total interest income

​

​

816,829

​

​

848,746

​

​

881,682

​

​

840,504

​

​

808,566

​

Interest Expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

​

238,522

​

​

250,189

​

​

257,271

​

​

241,593

​

​

245,957

​

Federal funds purchased, securities sold under agreements

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

to repurchase, and other borrowings

​

​

16,702

​

​

17,442

​

​

24,714

​

​

20,963

​

​

18,062

​

Total interest expense

​

​

255,224

​

​

267,631

​

​

281,985

​

​

262,556

​

​

264,019

​

Net Interest Income

​

​

561,605

​

​

581,115

​

​

599,697

​

​

577,948

​

​

544,547

​

Provision for credit losses

​

​

10,808

​

​

6,605

​

​

5,085

​

​

7,505

​

​

100,562

​

Net Interest Income after Provision for Credit Losses

​

​

550,797

​

​

574,510

​

​

594,612

​

​

570,443

​

​

443,985

​

SOUTHSTATE BANK CORP_January 21, 2026 0000764038false00007640382026-01-212026-01-21 ​ ​

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

​

FORM 8-K

​

CURRENT REPORT

​ Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ​ Date of Report (Date of earliest event reported): January 22, 2026 (January 21, 2026) ​

SOUTHSTATE BANK CORPORATION

(Exact name of registrant as specified in its charter) ​ ​ ​ ​

​ ​

​ ​ ​

Florida (State or Other Jurisdiction of Incorporation) 001-12669 (Commission File Number) 39-3424417 (IRS Employer Identification No.)

​ ​ ​ ​ ​

​

​ ​

1101 First Street South, Suite 202 Winter Haven, FL (Address of principal executive offices) ​ 33880 (Zip Code)

​ (863) 293-4710 (Registrant’s telephone number, including area code) ​ Not Applicable (Former name or former address, if changed since last report) ​ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ​ ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ​ Securities registered pursuant to Section 12(b) of the Act: ​ ​

​

​

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common stock, par value $2.50 per share SSB The New York Stock Exchange

​ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ​ Emerging growth company       ☐ ​ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐ ​ ​ ​

​

​

​

Item 2.02 ​ ​ Results of Operations and Financial Condition.

​ On January 22, 2026, SouthState Bank Corporation (“SouthState” or the “Company”) issued a press release announcing its financial results for the three- and twelve-month periods ended December 31, 2025, along with certain other financial information.  Copies of the Company’s press release and presentation are attached as Exhibit 99.1 and 99.2, respectively, to this report and incorporated herein by reference. ​ SouthState will host a conference call on January 23, 2026 at 9 a.m. (ET) to discuss the Company’s fourth quarter 2025 results.  Investors may call in (toll free) by dialing (888) 350-3899 within the U.S. and (646) 960-0343 for all other locations (passcode 4200408; host: Will Matthews, CFO). The numbers for international participants are listed at https://events.q4irportal.com/custom/access/2324/.  Participants may also pre-register for the conference by navigating to https://events.q4inc.com/attendee/305486364.  Access detail will be provided via email upon completion of registration. ​

​

​

Item 7.01 ​ Regulation FD Disclosure.

​ On January 22, 2026, the Company also made available the presentation (“Presentation”) prepared for use with the press release during the earnings conference call on January 23, 2026.  Attached hereto and incorporated herein as Exhibit 99.2 is the text of that presentation. ​ The information contained in this Item 7.01 of this Current Report, including the information set forth in the Presentation filed as Exhibit 99.2  to, and incorporated in, this Current Report, is being "furnished" and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. ​

​

Item 8.01 ​ Other Events.

​ Approval of a New Stock Repurchase Plan ​ On January 21, 2026, the Board of Directors of the Company approved the Company to repurchase of up to 5,560,000 shares of the Company’s common stock (the “2026 Repurchase Plan”). This 2026 Repurchase Plan authorization replaces the Company’s pre-existing authorization previously approved in January 2025, under which 560,000 shares remained available for repurchase, and which was cancelled in connection with the Board’s approval of the 2026 Repurchase Plan. ​ The 2026 Repurchase Plan will remain in effect until December 31, 2027, unless either shortened or extended by the Company’s Board of Directors. The 2026 Repurchase Plan does not obligate the Company to repurchase any specified numbe