10-K · February 20, 2026
SouthState completed a phase of inorganic growth (Independent merger closed Jan 1, 2025) and redomiciled to Florida in 3Q25, resulting in a larger footprint (342 branches) and materially larger balance sheet ($67.2B…
Earnings analysis · 10-Q
SSB earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
SouthState Bank Corporation reported strong earnings for Q1 2026, with diluted EPS of $2.28, representing a 162.1% increase from the prior year. Revenue was $661.7 million, slightly below the consensus estimate, but…
Read full summary
SouthState Bank Corporation reported strong earnings for Q1 2026, with diluted EPS of $2.28, representing a 162.1% increase from the prior year. Revenue was $661.7 million, slightly below the consensus estimate, but driven by solid loan and deposit growth. The company's net income rose significantly due to a reduction in provision for credit losses and strong noninterest income from banking activities.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.28
What stood out
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Strong EPS Growth
EPS increased to $2.28 in Q1 2026 versus $0.87 in Q1 2025, a 162.1% growth.
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Revenue Performance
Total revenue was $661.7 million, up from $895 million in Q1 2025, but below the estimated $670.7 million.
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Reduced Provision for Credit Losses
Provision for credit losses dropped to $10.8 million from $100.6 million year-over-year, enhancing profitability.
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Noninterest Income Growth
Noninterest income grew by $14 million year-over-year, driven by increased service charges and capital markets income.
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Effective Tax Rate Improvement
The effective tax rate decreased to 22.5% from 26.53% year-over-year, contributing to net income growth.
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Efficiency Ratio Improvement
Efficiency ratio improved to 51.1% in Q1 2026 from 61.0% in Q1 2025, reflecting better cost management.
What to watch
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Provision for Credit Losses Uncertainty
Despite a reduction this quarter, the provision for credit losses remains susceptible to macroeconomic conditions.
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Increased Nonperforming Assets
Total nonperforming assets increased to $328.6 million, reflecting potential credit quality challenges.
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Exposure to Economic Volatility
Ongoing geopolitical tensions and inflation pose risks to operational stability and credit quality.
Management's outlook
Management expects continued organic growth in loans and deposits, with cautious optimism considering economic conditions.
Earlier filings 4
10-Q · May 2, 2025
SouthState’s Q1 2025 results show strong top-line expansion driven by acquisition-related volume: total revenue rose to $630,635,000 (up $215,141,000 or +51.8% vs Q1 2024’s $415,494,000). However, profitability and cash…
10-Q · August 5, 2022
SouthState reported Q2 2022 net income of $119,175 and diluted EPS of $1.57, up from $98,960 and $1.39 in Q2 2021. Net interest income rose to $314,279 (from $253,130) driven by higher interest income, while loans grew…
10-Q · August 6, 2021
South State reported Q2 2021 revenue of $332.15M (net interest income $253.13M + noninterest income $79.02M), up 53.1% YoY, and delivered net income of $98.96M (diluted EPS $1.39) versus a loss in Q2 2020. Operating…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.