#United States #Quarterly Earnings #dividend increase #SouthState Bank #Winter Haven

SouthState Bank Corporation Reports Robust Second Quarter 2026 Results

Introduction
On July 23, 2026, SouthState Bank Corporation released its unaudited financial results for the second quarter ended June 30, 2026. These results showcase a strong performance driven by solid loan growth, stable net interest margins, and enhanced efficiency. In addition to the impressive earnings, the company declared an increase in its quarterly cash dividend, affirming its commitment to delivering value to shareholders.

Quarterly Highlights
The highlights of the earnings report for SouthState Bank for the second quarter are as follows:

• - Net Income: The corporation reported a net income of $230 million, resulting in diluted Earnings per Share (EPS) of $2.35, an 11% increase year-over-year.
• - Return on Equity: The company achieved a return on average common equity of 10.2% and a return on average tangible common equity of 17.6%, indicating robust profitability.
• - Loan and Deposit Growth: Outstanding loans increased by $1.4 billion (11%) quarter-over-quarter and grew by $3.6 billion (8%) year-over-year. Total deposits rose by $474 million (3%) compared to the last quarter.
• - Efficiency Ratios: The efficiency ratio improved to 50%, signifying optimal management of operational costs and solid revenue generation.

CEO's Remarks
John C. Corbett, Chief Executive Officer of SouthState, commented on the results, stating, “We continue to make progress on our priorities of balance sheet growth, opportunistic hiring, active share repurchases and building our artificial intelligence capabilities.” Corbett highlighted that the company was on track with solid performance trends and improved asset quality metrics, including a decline in non-accruals and charge-offs.

Dividends and Share Repurchases
SouthState has also been active in returning value to its shareholders. The Board of Directors decided to increase the quarterly cash dividend from $0.60 to $0.66 per common share. This dividend will be payable on August 14, 2026, to shareholders on record as of August 7, 2026. Additionally, the company has retired nearly 5% of its share count over the past year, contributing to a growth in tangible book value by 13%.

Financial Overview

• - Net Interest Income: Achieved a net interest income of $576 million, up by 3% compared to the prior quarter.
• - Noninterest Income: Clocked a total of $97 million, showing a slight decrease from the previous quarter mainly due to fluctuations in mortgage banking income.
• - Loan Portfolio Quality: The bank reported decreased nonaccrual loans amounting to $171 million, reflecting improved asset quality.

Future Outlook
Looking ahead, SouthState remains focused on maintaining its growth trajectory. The company plans to continue enhancing its capabilities in artificial intelligence, aiming to strengthen its operational efficiencies and customer experience. With increasing revenues and profitability, combined with strategic investments, SouthState Bank is poised for continued success in the financial sector.

Conclusion
SouthState Bank Corporation’s second quarter results reflect a strong financial performance marked by consistent growth in net income, increased dividends, and an improved efficiency ratio. The bank's leadership remains dedicated to delivering value to shareholders while maintaining a focus on sustainable growth. The upcoming conference call scheduled for July 24, 2026, will provide more insights into the bank’s strategy and future expectations.