Headquartered in Winter Haven, FL, SouthState Bank Corporation (NASDAQ: SSB) (“the company”) is a $68 billion asset financial holding company providing consumer, commercial, mortgage, correspondent banking, and wealth management and trust services to its customers via its bank subsidiary, SouthState Bank, N.A. (“the bank”). The company’s physical footprint includes 344 branches across an eight state South/Southeastern footprint with exposure to 12 of the 15 fastest growing U.S. MSAs, with FL, SC, TX, and GA comprising its largest markets by deposits. SSB also operates a correspondent banking and capital markets division that provides capital markets hedging, fixed income sales, international, clearing and other services to over 1,300 financial institutions across the country, as well as two RIAs.
Over the past 15 years, SSB has grown meaningfully via bank M&A, particularly post-GFC. However, contemporary acquisitions have been significantly larger…
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