Trade SouthState Corp - SSB CFD

South State Company profile

About SouthState Corp

SouthState Corporation is a financial holding company. The Company offers a range of banking services and products to its customers through its wholly owned bank subsidiary, South State Bank, National Association (the Bank). The Bank provides consumer, commercial, mortgage and wealth management solutions. The Bank's loan portfolio includes commercial real estate loans, residential real estate loans, commercial and industrial loans and consumer loans. It also offer its customers a variety of deposit products and services, including checking accounts, savings accounts, other deposit accounts and treasury and merchant services, through multiple channels, including its network of approximately 281 full-service branches and online, mobile and telephone banking platforms. Through Corporate Billing, the Bank offers factoring, invoicing, collection, and accounts receivable management services nationwide. It also operates a correspondent banking division within its national bank subsidiary.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, SouthState Corp interest income increased 19% to $1.08B. Net interest income after loan loss provision increased 45% to $1.2B. Net income increased from $120.6M to $475.5M. Net interest income after loan loss provision reflects increase in interest earning assets and decrease in interest bearing liabilities.

Equity composition

Common Stock $2.50 Par, 03/11, 40M auth., 13,958,824 issd. Insiders control 3.50%. IPO: NA. 6/97, 2-for-1 stock split; 11/02, 10/98, 10/96, 10/95, 10/94, 10% stk. dividends; 03/07 & 12/04 & 8/93, 5% stk. dividends. *FY'03 Qsare reclassifed.FY'03 Q3=9M numbers. 2/04, Co. changed its name from First National Corp.