#USA #Cash Dividend #SouthState Bank #Winter Haven #quarterly results

SouthState Bank Reports Strong Q1 2026 Results

SouthState Bank Corporation has unveiled its financial performance for the first quarter of 2026, demonstrating a robust start to the year. With encouraging growth in loans and deposits, SouthState is poised for continued success in the competitive banking landscape.

According to John C. Corbett, the Chief Executive Officer of SouthState, the bank began the year with strong momentum. The report shows a remarkable 7% increase in loans and a 5% growth in deposits on an annualized basis. This expansion is attributed to the bank's strategy of attracting skilled commercial bankers who are instrumental in driving future growth. Asset quality remains impressive, with annualized net charge-offs standing at just 9 basis points, showcasing the bank's risk management capabilities.

In terms of profitability, SouthState reported a return on average assets of 1.37%, indicating healthy operational efficiency. Over the past year, the tangible book value per share has seen an increase of 14%, even as the bank repurchased nearly 4% of its shares, highlighting the management's confidence in the bank's performance and commitment to creating long-term shareholder value.

Financial Highlights

The first quarter of 2026 has yielded significant numbers:

• - Reported diluted Earnings per Share (EPS) of $2.28, reflecting a 162% increase compared to the previous year, and a 6% rise on an adjusted basis.
• - Net Income reached $225.8 million for the quarter.
• - Return on Average Common Equity (ROE) stood at 10.1%, while the Return on Average Tangible Common Equity was 17.6%.
• - Book Value per Share recorded at $92.21 and Tangible Book Value per Share increased to $56.90.

Regarding income generation, the bank reported Net Interest Income of $562 million, showing a year-over-year improvement of 3%, despite a slight decline compared to the previous quarter.
Moreover, Noninterest Income also increased by $14 million year-over-year, reaching $100 million. This growth was primarily driven by enhancements in correspondent banking and capital markets activities, making up 0.61% of average assets in Q1 2026.

Efficient Operational Management

SouthState Bank's operational efficiency ratios indicate strong management practices. The Efficiency Ratio stood at 51%, underlining the institution's commitment to maintaining low operating costs while maximizing revenue generation.

Upcoming Cash Dividend

In a bid to reward shareholders, the Board of Directors declared a quarterly cash dividend of $0.60 per share, which is set to be paid on May 15, 2026, for shareholders recorded by May 8, 2026. The dividend payout ratio is 26.12%, which reflects the bank’s strategy to share its success while ensuring adequate reinvestments.

Conclusion

With its promising financial results and strategic initiatives in place, SouthState Bank Corporation is well-positioned for sustained growth in the upcoming quarters. The robust financial foundation, coupled with shareholder-friendly strategies, reinforces its reputation as a reliable banking partner throughout Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, Virginia, and Tennessee. As the bank prepares for its conference call scheduled for April 24, 2026, investors and stakeholders eagerly await further insights on its operational strategies and long-term vision.