SouthState Corporation (SSB) 10-Year Financial Performance & Capital Metrics

SSB • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutSouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits. The company also offers commercial real estate loans, residential real estate loans, commercial, and industrial loans, as well as consumer loans, including auto, boat, and personal installment loans. In addition, it provides debit card, mobile and funds transfer products, and treasury management services comprising merchant, automated clearing house, lock-box, remote deposit capture, and other treasury services. Further, the company offers safe deposit boxes, bank money orders, wire transfer, brokerage services, and alternative investment products, including annuities, mutual funds, and trust and asset management services; and credit cards, letters of credit, and home equity lines of credit. As of December 31, 2021, it served customers through 281 branches in Florida, South Carolina, Alabama, Georgia, North Carolina, and Virginia. SouthState Corporation also serves its customers through online, mobile, and telephone banking platforms. The company was formerly known as First Financial Holdings, Inc. and changed its name to SouthState Corporation in July 2013. SouthState Corporation was founded in 1933 and is headquartered in Winter Haven, Florida.Show more

Net Interest Income $1.42B -2.6%
Total Revenue $2.39B +9.1%
Net Income $535M +8.2%
Return on Equity 9.36% +0.5%
Net Interest Margin 3.05% -5.7%
Efficiency Ratio 39.74% -8.8%
ROA 1.17% +5.3%
Equity / Assets 12.7% +3.1%
Book Value per Share 76.74 +6.1%
Tangible BV/Share 49.65 +10.5%
Debt/Equity 0.15 -13.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 23.5%
✓Efficient operations: 39.7% efficiency ratio
✓15 consecutive years of dividend growth
✓Well capitalized: 12.7% equity/assets
✓Healthy dividend yield of 2.1%
✓Trading at only 1.3x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y18.24%

5Y26.87%

3Y19.09%

TTM-

Profit (Net Income) CAGR

10Y21.64%

5Y23.45%

3Y3.99%

TTM39.75%

EPS CAGR

10Y8.51%

5Y5.39%

3Y1.28%

TTM12.35%

ROCE

10Y Avg9.19%

5Y Avg7.99%

3Y Avg9.29%

Latest9.29%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	327.77M	324.85M	408.99M	513.22M	504.27M	826.47M	1.03B	1.34B	1.45B	1.42B
NII Growth %	0%	-0.01%	0.26%	0.25%	-0.02%	0.64%	0.25%	0.29%	0.09%	-0.03%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	338.1M	333.16M	426M	567.21M	590.83M	910.03M	1.08B	1.4B	1.94B	2.14B
Interest Expense	10.33M	8.32M	17.01M	53.99M	86.55M	83.56M	51.63M	61.35M	491.8M	725.91M
Loan Loss Provision	5.86M	6.82M	11.89M	13.78M	12.78M	235.99M	-165.27M	81.86M	114.08M	15.97M
Non-Interest Income+	111.88M	122.02M	135.26M	141.94M	137.19M	299.86M	332.2M	277.62M	248.03M	251.68M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	449.98M	455.19M	561.26M	709.15M	728.02M	1.21B	1.42B	1.67B	2.19B	2.39B
Revenue Growth %	0%	0.01%	0.23%	0.26%	0.03%	0.66%	0.17%	0.18%	0.31%	0.09%
Non-Interest Expense	283.41M	286.01M	363.55M	417.12M	398.26M	786.36M	926.37M	898.07M	955.7M	950.91M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	150.38M	154.04M	168.81M	224.25M	230.43M	103.97M	604.28M	633.36M	630.85M	700.25M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.35%	0.02%	0.1%	0.33%	0.03%	-0.55%	4.81%	0.05%	-0%	0.11%
Pretax Income+	150.38M	154.04M	168.81M	224.25M	230.43M	103.97M	604.28M	633.36M	630.85M	700.25M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	50.9M	52.76M	81.25M	45.38M	43.94M	-16.66M	128.74M	137.31M	136.54M	165.47M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	99.47M	101.28M	87.55M	178.87M	186.48M	120.63M	475.54M	496.05M	494.31M	534.78M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.32%	0.02%	-0.14%	1.04%	0.04%	-0.35%	2.94%	0.04%	-0%	0.08%
Net Income (Continuing)	99.47M	101.28M	87.55M	178.87M	186.48M	120.63M	475.54M	496.05M	494.31M	534.78M
EPS (Diluted)+	4.11	4.18	2.93	4.86	5.36	2.19	6.71	6.60	6.46	6.97
EPS Growth %	0.33%	0.02%	-0.3%	0.66%	0.1%	-0.59%	2.06%	-0.02%	-0.02%	0.08%
EPS (Basic)	4.15	4.22	2.95	4.90	5.40	2.20	6.76	6.65	6.50	7.01
Diluted Shares Outstanding	24.22M	24.22M	29.92M	36.78M	34.8M	55.06M	70.89M	75.18M	76.48M	76.76M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	397.55M	238.21M	373.41M	376.31M	311.01M	1.03B	702.66M	732.07M	762.44M	798.29M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	7.04B	7.71B	12.37B	12.53B	13.4B	29.79B	31.42B	38.27B	39.63B	40.68B
Investments Growth %	0.07%	0.1%	0.6%	0.01%	0.07%	1.22%	0.05%	0.22%	0.04%	0.03%
Long-Term Investments	6.03B	6.71B	10.67B	11.01B	11.44B	26.46B	26.22B	32.94B	34.85B	40.58B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	338.34M	338.34M	999.59M	1B	1B	1.56B	1.58B	1.92B	1.92B	1.92B
Intangible Assets	73.63M	68.89M	104.91M	97.63M	80.34M	206.41M	193.69M	203.06M	173.94M	156.25M
PP&E (Net)	174.54M	183.51M	255.56M	241.08M	317.32M	579.24M	558.5M	520.63M	519.2M	502.56M
Other Assets	491.63M	331.65M	367.14M	393.66M	779.67M	4.51B	7.32B	2.09B	1.73B	2.14B
Total Current Assets	1.41B	1.24B	2.03B	1.89B	2.27B	4.36B	5.9B	6.06B	5.55B	898.68M
Total Non-Current Assets	7.15B	7.66B	12.44B	12.78B	13.65B	33.43B	35.94B	37.86B	39.36B	45.48B
Total Assets+	8.56B	8.9B	14.47B	14.68B	15.92B	37.79B	41.84B	43.92B	44.9B	46.38B
Asset Growth %	0.09%	0.04%	0.63%	0.01%	0.08%	1.37%	0.11%	0.05%	0.02%	0.03%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	343.39M	369.13M	503.24M	526.42M	1.1B	1.16B	1.1B	938.38M	970.78M	896.14M
Net Debt	-54.16M	130.92M	129.83M	150.12M	793.36M	132.69M	395.34M	206.31M	208.34M	97.85M
Long-Term Debt	55.16M	55.36M	116.39M	105.77M	105.63M	379.87M	316.76M	381.96M	381.59M	381.22M
Short-Term Debt	288.23M	313.77M	386.86M	420.65M	998.74M	779.67M	781.24M	556.42M	589.18M	514.91M
Other Liabilities	54.15M	62.45M	121.66M	136.68M	267.4M	1.29B	882.69M	1.55B	1.35B	1.53B
Total Current Liabilities	7.39B	7.65B	11.92B	12.07B	13.18B	31.47B	35.84B	36.91B	37.64B	38.58B
Total Non-Current Liabilities	109.31M	117.81M	238.05M	242.45M	373.03M	1.67B	1.2B	1.94B	1.73B	1.92B
Total Liabilities	7.5B	7.77B	12.16B	12.31B	13.55B	33.14B	37.04B	38.84B	39.37B	40.49B
Total Equity+	1.06B	1.13B	2.31B	2.37B	2.37B	4.65B	4.8B	5.07B	5.53B	5.89B
Equity Growth %	0.08%	0.07%	1.04%	0.02%	0%	0.96%	0.03%	0.06%	0.09%	0.06%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.1%	0.09%	0.05%	0.08%	0.08%	0.03%	0.1%	0.1%	0.09%	0.09%
Book Value per Share	43.73	46.85	77.16	64.34	68.20	84.41	67.75	67.50	72.35	76.74
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	60.41M	60.58M	91.9M	89.57M	84.36M	177.43M	173.33M	189.26M	190.06M	190.81M
Additional Paid-in Capital	703.93M	711.31M	1.81B	1.75B	1.61B	3.77B	3.65B	4.22B	4.24B	4.26B
Retained Earnings	298.92M	370.92M	419.85M	551.11M	679.89M	657.45M	997.66M	1.35B	1.69B	2.05B
Accumulated OCI	-3.87M	-8.21M	-10.43M	-24.88M	1.02M	47.59M	-21.15M	-677.09M	-582.54M	-606.92M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	186.87M	138.01M	197.89M	283.71M	181.03M	536.94M	415.69M	1.73B	546.76M	511.96M
Operating CF Growth %	0.57%	-0.26%	0.43%	0.43%	-0.36%	1.97%	-0.23%	3.16%	-0.68%	-0.06%
Net Income	99.47M	101.28M	87.55M	178.87M	186.48M	120.63M	475.54M	496.05M	494.31M	534.78M
Depreciation & Amortization	21.47M	21.58M	28.7M	35.7M	33.12M	46.37M	63.14M	64.59M	58.83M	56.7M
Deferred Taxes	7.05M	9.38M	32.2M	15.18M	-1.49M	-44.28M	67.85M	123.54M	1.95M	-10.85M
Other Non-Cash Items	41.33M	4.17M	68.93M	36.68M	-32.68M	419.85M	-64.18M	211.09M	66.22M	-627.88M
Working Capital Changes	11.74M	-4.62M	-26.43M	8.5M	-13.25M	-28.94M	-152.38M	799.98M	-110.4M	531.22M
Cash from Investing+	-103.02M	-690.92M	-60.9M	-282.15M	-795.05M	1.23B	-2.32B	-4.86B	-1.43B	-886.18M
Purchase of Investments	-436.08M	-386.47M	-245.83M	-209.81M	-979.07M	-2.35B	-3.92B	-2.5B	-307.06M	-236.94M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	403.55M	0	185.16M	0	0	2.57B	-39.93M	250.12M	0	0
Other Investing	-280.98M	-665.66M	-614.64M	-374.04M	-351.07M	-98.64M	604.75M	-3.89B	-2.21B	-1.5B
Cash from Financing+	194.07M	231.56M	-133.81M	29.79M	893.75M	2.15B	4.02B	-2.28B	566M	767.41M
Dividends Paid	-23.71M	-29.29M	-38.62M	-50.56M	-57.7M	-98.26M	-135.34M	-146.66M	-156.18M	-162.89M
Share Repurchases	-5.63M	-5.98M	-5.51M	-70.58M	-159.43M	-32.43M	-147.42M	-119.33M	-16.06M	-16.76M
Stock Issued	908K	925K	1.05M	1.33M	1.39M	1.54M	2.38M	2.86M	2.77M	3.24M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-14K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K
Other Financing	268.9M	265.92M	200.08M	99.6M	559.49M	2.98B	4.37B	-2B	635.47M	1.04B
Net Change in Cash+	277.93M	-321.35M	3.18M	31.36M	279.72M	3.92B	2.11B	-5.41B	-313.69M	393.19M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	417.87M	695.79M	374.45M	377.63M	408.98M	688.7M	4.61B	6.72B	1.31B	998.88M
Cash at End	695.79M	374.45M	377.63M	408.98M	688.7M	4.61B	6.72B	1.31B	998.88M	1.39B
Interest Paid	12.45M	9.15M	17.96M	52.06M	86.36M	87.25M	55.39M	67.13M	441.21M	741.98M
Income Taxes Paid	31.38M	39.49M	48.03M	31.94M	55.67M	103.8M	126.21M	35.14M	74.72M	111.48M
Free Cash Flow+	171.64M	112.22M	182.73M	269.17M	165.23M	520.01M	387.27M	1.71B	507.87M	476.15M
FCF Growth %	0.67%	-0.35%	0.63%	0.47%	-0.39%	2.15%	-0.26%	3.42%	-0.7%	-0.06%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.73%	9.23%	5.09%	7.65%	7.87%	3.44%	10.06%	10.04%	9.32%	9.36%
Return on Assets (ROA)	1.21%	1.16%	0.75%	1.23%	1.22%	0.45%	1.19%	1.16%	1.11%	1.17%
Net Interest Margin	3.83%	3.65%	2.83%	3.5%	3.17%	2.19%	2.47%	3.04%	3.24%	3.05%
Efficiency Ratio	62.98%	62.83%	64.77%	58.82%	54.71%	64.99%	65.38%	53.63%	43.59%	39.74%
Equity / Assets	12.38%	12.75%	15.96%	16.12%	14.9%	12.3%	11.48%	11.56%	12.32%	12.7%
Book Value / Share	43.73	46.85	77.16	64.34	68.2	84.41	67.75	67.5	72.35	76.74
NII Growth	0.43%	-0.89%	25.9%	25.49%	-1.74%	63.89%	25.01%	29.28%	8.75%	-2.56%
Dividend Payout	23.84%	28.91%	44.11%	28.26%	30.94%	81.45%	28.46%	29.57%	31.6%	30.46%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Deposit account services	-	-	-	-	129.7M	134.6M	142.3M
Deposit account services Growth	-	-	-	-	-	3.78%	5.72%
Trust and investment services income	-	-	-	36.98M	39.02M	39.45M	45.47M
Trust and investment services income Growth	-	-	-	-	5.51%	1.10%	15.28%
Interchange and debit card transaction fees	-	-	-	-	40.7M	41.3M	44.1M
Interchange and debit card transaction fees Growth	-	-	-	-	-	1.47%	6.78%
Fees on deposit accounts	-	-	-	105.64M	128.23M	-	-
Fees on deposit accounts Growth	-	-	-	-	21.38%	-	-
Correspondent banking and capital market income	-	-	-	110M	78.75M	-	-
Correspondent banking and capital market income Growth	-	-	-	-	-28.41%	-	-
Mortgage banking income	-	-	-	64.6M	17.79M	-	-
Mortgage banking income Growth	-	-	-	-	-72.46%	-	-
Mortgage Banking	-	-	106.2M	-	-	-	-
Mortgage Banking Growth	-	-	-	-	-	-	-
Deposit Account	-	-	84.32M	-	-	-	-
Deposit Account Growth	-	-	-	-	-	-	-
Correspondent Banking And Capital Market Income	-	-	64.74M	-	-	-	-
Correspondent Banking And Capital Market Income Growth	-	-	-	-	-	-	-
Fiduciary And Trust	30.2M	29.24M	29.44M	-	-	-	-
Fiduciary And Trust Growth	-	-3.17%	0.66%	-	-	-	-
Banking	82.6M	76.4M	-	-	-	-	-
Banking Growth	-	-7.51%	-	-	-	-	-
Interchange And Debit Card Transaction Fees	20.9M	12.6M	-	-	-	-	-
Interchange And Debit Card Transaction Fees Growth	-	-39.71%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

SouthState Corporation (SSB) has a price-to-earnings (P/E) ratio of 14.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

SouthState Corporation (SSB) grew revenue by 9.1% over the past year. This is steady growth.

Yes, SouthState Corporation (SSB) is profitable, generating $695.1M in net income for fiscal year 2024 (22.3% net margin).

Dividend & Returns

Yes, SouthState Corporation (SSB) pays a dividend with a yield of 2.14%. This makes it attractive for income-focused investors.

SouthState Corporation (SSB) has a return on equity (ROE) of 9.4%. This is below average, suggesting room for improvement.

Industry Metrics

SouthState Corporation (SSB) has a net interest margin (NIM) of 3.1%. This indicates healthy earnings from lending activities.

SouthState Corporation (SSB) has an efficiency ratio of 39.7%. This is excellent, indicating strong cost control.

US Stock Screener

...