SouthState Bank | 8-K: FY2026 Q2 Revenue: USD 934.99 M

Revenue: As of FY2026 Q2, the actual value is USD 934.99 M.

EPS: As of FY2026 Q2, the actual value is USD 2.35, beating the estimate of USD 2.3052.

EBIT: As of FY2026 Q2, the actual value is USD 299.01 M.

Shareholder Dividend

SouthState Bank Corporation’s Board of Directors increased its quarterly cash dividend on common stock from $0.60 per share to $0.66 per share, payable on August 14, 2026, to shareholders of record as of August 7, 2026.

Financial Highlights (2Q26 vs. 2Q25)

Net Income

Net Income for SouthState Bank Corporation was $230 million in 2Q26, an increase from $215 million in 2Q25.

Pre-Provision Net Revenue (PPNR)

PPNR was $315 million in 2Q26, up from $290 million in 2Q25.

Return on Assets (ROA)

ROA was 1.36% in 2Q26, compared to 1.34% in 2Q25.

Return on Average Tangible Common Equity (ROATCE)

ROATCE was 17.62% in 2Q26, a decrease from 18.17% in 2Q25.

Net Interest Margin (NIM)

Net Interest Margin (non-TE/TE) was 3.78% in 2Q26, down from 4.02% in 2Q25.

Efficiency Ratio

The Efficiency Ratio improved to 50% in 2Q26 from 53% in 2Q25.

CET 1 Ratio

The CET 1 Ratio was 11.1% in 2Q26, slightly down from 11.2% in 2Q25.

Loans

Loans increased by $1.4 billion, or 11%, year-over-year. Total loans as of June 30, 2026, were $50.8 billion.

Deposits

Deposits increased by $474 million, or 3%, year-over-year. Total deposits as of June 30, 2026, were $56.3 billion.

Net Charge-Offs

Net charge-offs were 6 basis points in 2Q26, with Net Charge-Offs to Loans remaining at 0.06% in 2Q26, same as 2Q25.

Tangible Book Value per Share (Non-GAAP)

Tangible Book Value per Share increased by 13% year over year, reaching $58.72 in 2Q26 from $51.96 in 2Q25.

Loan Production and Net Loan Growth

Loan production was $5,165 million in 2Q26, increasing from $3,335 million in 2Q25. Loan portfolio growth was $1,350 million in 2Q26, up from $501 million in 2Q25.

Net Interest Income

Net interest income (GAAP) was $575.9 million in 2Q26, slightly down from $577.9 million in 2Q25. The net impact of purchase accounting was $12 million in 2Q26, decreasing from $39 million in 2Q25.

Noninterest Income

Total Noninterest Income was $97 million in 2Q26, up from $87 million in 2Q25. The Noninterest Income / Avg. Assets ratio was 0.57% in 2Q26, compared to 0.54% in 2Q25. Correspondent ARC Revenue, gross, was $24.8 million in 2Q26, up from $19.2 million in 2Q25, and Interest on VM was - $4.0 million in 2Q26, compared to - $5.4 million in 2Q25.

Balance Sheet Metrics (as of June 30, 2026)

Total Assets were $65 billion, Total Loans were $50.8 billion, and Total Deposits were $56.3 billion. The Cost of Deposits was 1.76%. The loan portfolio composition included Investor CRE at 37% ($18.7B), Consumer RE at 22% ($11.0B), and C&I at 18% ($9.4B). Deposit composition was 24% Noninterest-bearing Checking, 26% Interest-bearing Checking, 31% Money Market, 14% Time Deposits, and 5% Savings.

Asset Quality Metrics (2Q26 vs. 2Q25)

Nonperforming Assets to Loans & OREO was 0.57% in 2Q26, down from 0.68% in 2Q25. Special Mention / Assets was 1.10% in 2Q26, decreasing from 1.44% in 2Q25, while Classified / Assets was 3.47% in 2Q26, down from 2.99% in 2Q25. Total Allowance for Credit Losses (ACL) plus Reserve for Unfunded Commitments was $587 million in 2Q26, compared to $621 million in 2Q25, and the Reserve for Unfunded Commitments was $77 million in 2Q26, up from $65 million in 2Q25. ACL as a percentage of Total Loans was 1.30% in 2Q26, down from 1.45% in 2Q25. Investor CRE accounted for 60% of classified assets, with minimal exposure to NDFIs at 1.5% of total loans and 8.5% of total capital in 2Q26.

Capital and Shareholder Returns

The CET1 Ratio was 11.1% in 2Q26, and Tangible Book Value per Share was $58.72. SouthState Bank Corporation repurchased 4.8% of shares since 2Q25 and increased its dividend by 11% to $0.60 per share, with an additional 10% increase to $0.66 per share effective with the August 14, 2026 dividend payment.

Investment Portfolio (as of June 30, 2026)

The Total Investment Portfolio was $8.6 billion, with a composition of Agency MBS (78%), Municipal (9%), Treasury, Agency & SBA (13%), and Corporates (0.3%). The Investment Securities Yield was 3.54% in 2Q26, up from 3.50% in 2Q25.

2026 Focus (Outlook)

SouthState Bank Corporation’s 2026 focus includes expanding its sales force, driving meaningful balance sheet growth, and conducting share repurchases supported by robust earnings. The company also aims to leverage AI to drive speed and scale in its operations.