AI-extracted from the 10-Q filed 2026-07-31 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
SouthState reported Q2 2026 net income of $230.0M (+6.9% YoY) with diluted EPS of $2.35 (+11.4% YoY), driven by $9.9M higher noninterest income and $17.3M lower noninterest expense despite 24bp NIM compression.
Biggest Revenue Drivers
Net Interest Income$575.9M-0.3% YoY
Lower yields on acquired loans (-63bps) and lower rates on deposits partially offset by higher deposit volumes
Noninterest Income$96.7M+11.4% YoY
Increases in deposit service charges (+$2.2M), correspondent banking income (+$7.0M) from swap hedging, and mortgage servicing gains partially offset by lower SBA income
Biggest Revenue Drivers
Net Interest Income$575.9M-0.3% YoY
Lower yields on acquired loans (-63bps) and lower rates on deposits partially offset by higher deposit volumes
Noninterest Income$96.7M+11.4% YoY
Increases in deposit service charges (+$2.2M), correspondent banking income (+$7.0M) from swap hedging, and mortgage servicing gains partially offset by lower SBA income
Largest Expense Items
Salaries and Employee Benefits$205.4M+2.6% YoY
Higher commission expense of $4.9M from sales force expansion initiatives
Occupancy Expense$43.9M+5.7% YoY
Increases in furniture, equipment depreciation, and lease expenses of $1.5M and $1.0M respectively
Amortization of Intangibles$21.0M-12.5% YoY
Lower amortization from core deposit intangibles subject to accelerated amortization from Independent acquisition
Merger, Branch Consolidation and Other$0.0MN/A
No charges in Q2 2026 compared to $24.4M in Q2 2025 related to Independent integration
Margins: Net interest margin compressed 24bps to 3.78% YoY due to lower yields on acquired loans (down 63bps from continued paydowns and 30.5M decline in accretion) and lower rates on deposits, partially offset by lower funding costs declining 10bps and balance sheet mix improvements. The Company maintains a disciplined deposit pricing strategy.
Watch Items from the Filing
Commercial non-owner-occupied loans ($17.5B, 34.4% of portfolio) concentrated in office segment ($1.8B, 4% of total loans), with 95% located in company footprint; office exposure represents key monitoring area
Net interest margin declined 24bps YoY to 3.78% and 15bps YTD; loan accretion declined $30.5M Q2-to-Q2, driven by Independent acquired loan paydowns and runoff
Uninsured deposits at 37.8% of total deposits ($21.3B); total primary liquidity sources ($22.1B) provide only 103.7% coverage of uninsured/uncollateralized deposits ($16.5B)
ACL as % of loans at 1.15% vs. nonperforming loans coverage of 2.14x; credit quality stable with net charge-offs only 0.06% annualized, but ACL methodology highly sensitive to economic scenarios (±$176M-$122M swing)
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Page G Ruffner JrReporting ownerGrant or award · Aug 3, 2026
Pou William K JrReporting ownerGrant or award · Aug 3, 2026
Cooper Shantella E.Reporting ownerGrant or award · Aug 3, 2026
Bockhorst Daniel EChief Credit OfficerShares withheld for tax or exercise price · Jul 31, 2026
Congress trading in SSB
7 transactions in SSB reported by 2 members of Congress under the STOCK Act, most recent trade Mar 27, 2023. Reported transactions, not recommendations.
About SouthState Bank Corp (SSB): stock profile, AI score and financials
SouthState Bank Corp (SSB) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores SSB at 77.0/100 on a composite quality score built from its SEC filings, placing it at rank #72 of 2,925 stocks — the top 5% of the AI-ranked universe. SSB scores in the top quartile across institutional flow (95.1), profitability (95.0), revenue growth (86.1). Areas of concern include earnings quality (29.5), which score below median versus the broader universe. Shareholder dilution risk is elevated at 47.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), SouthState Bank Corp reports quarterly revenue of $672.7M, net income of $230.0M, an operating margin of 44.5%. SSB trades on the NYSE exchange and files with the SEC under CIK 764038. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate SSB daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for SouthState Bank Corp directly from SEC EDGAR.