SouthState Bank Corporation Reports Third Quarter 2026 Results
SouthState Bank Corp (SSB) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 SouthState Bank Corporation Reports Third Quarter 2026 Results Declares Quarterly Cash Dividend For Immediate Release Media Contact Jackie Smith, 803.231.3486 WINTER HAVEN, FL – October 21, 2026 – SouthState Bank Corporation (“SouthState” or the “Company”) (NYSE: SSB
How this was made
The 30-second read
Why it matters
The earnings release provides fresh data on profitability, margins, and capital returns, offering traders a basis for short‑term positioning.
Market read
First‑report earnings for a mid‑cap bank; could move the stock and influence peer valuations.
What to watch
Potential loan loss provisions and macro rate risk may dampen the stock's rally.
SouthState Bank Corporation Reports Third Quarter 2026 Results Declares Quarterly Cash Dividend
Loan and deposit balances increased, net interest income increased from the prior quarter, and reported asset-quality ratios remained favorable. However, net income, diluted EPS, noninterest income, net interest margin, returns, tangible book value per share, and capital ratios were lower than the prior quarter, while provision expense and operating expense increased.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Net interest income, three months ended September 30, 2026GAAP | $591.5M | an increase of $16 million, or 3% | – |
| Net interest income, nine months ended September 30, 2026GAAP | $1.73B | – | – |
| Total noninterest income, three months ended September 30, 2026GAAP | $93.91M | – | – |
| Total noninterest income, nine months ended September 30, 2026GAAP | $290.7M | – | – |
| Total noninterest expense, three months ended September 30, 2026GAAP | $374.8M | an increase of $17 million | – |
| Total noninterest expense, nine months ended September 30, 2026GAAP | $1.09B | – | – |
| Provision for credit losses, three months ended September 30, 2026GAAP | $20.34M | – | – |
| Provision for credit losses, nine months ended September 30, 2026GAAP | $47.07M | – | – |
| Income before income tax provision, three months ended September 30, 2026GAAP | $290.3M | – | – |
| Net income, three months ended September 30, 2026GAAP | $223.8M | – | – |
| Net income, nine months ended September 30, 2026GAAP | $679.6M | – | – |
| Adjusted net income, three months ended September 30, 2026non-GAAP | $223.8M | – | – |
| Adjusted net income, nine months ended September 30, 2026non-GAAP | $679.6M | – | – |
| Diluted earnings per common share, three months ended September 30, 2026GAAP | $ 2.30 | – | – |
| Diluted earnings per common share, nine months ended September 30, 2026GAAP | $ 6.93 | – | – |
| Adjusted net income per common share - Diluted, three months ended September 30, 2026non-GAAP | $ 2.30 | – | – |
| Adjusted net income per common share - Diluted, nine months ended September 30, 2026non-GAAP | $ 6.93 | – | – |
| Net interest margin, non-tax equivalent, three months ended September 30, 2026GAAP | 3.77 % | – | – |
| Net interest margin, tax equivalent, three months ended September 30, 2026non-GAAP | 3.78 % | – | – |
| Total deposit cost, three months ended September 30, 2026other | 1.80 % | up 0.04% | – |
| Return on average assets (annualized), three months ended September 30, 2026GAAP | 1.29 % | – | – |
| Return on average common equity (annualized), three months ended September 30, 2026GAAP | 9.70 % | – | – |
| Return on average tangible common equity (annualized), three months ended September 30, 2026non-GAAP | 16.60 % | – | – |
| Efficiency ratio, three months ended September 30, 2026other | 51.61 % | – | – |
| Effective tax rate, three months ended September 30, 2026GAAP | 22.91 % | – | – |
| Pre-provision net revenue, three months ended September 30, 2026non-GAAP | $310.7M | – | – |
| Book value per common share, September 30, 2026GAAP | $ 93.51 | – | – |
| Tangible book value per common share, September 30, 2026non-GAAP | $ 58.19 | – | an increase of 7% year over year |
| Total loans, September 30, 2026other | $52.05B | increased by $1.2 billion, or 9% | increased by $4.4 billion, or 9%, year over year |
| Total deposits, September 30, 2026other | $57.64B | increased by $1.3 billion, or 9% | increased by $3.6 billion, or 7%, year over year |
| Ending loan to deposit ratio, September 30, 2026other | 90% | – | – |
| Allowance for credit losses as a percentage of loans, September 30, 2026other | 1.13 % | – | – |
| Allowance for credit losses, including reserve for unfunded commitments, as a percentage of loans, September 30, 2026other | 1.29 % | – | – |
| Net charge-offs as a percentage of average loans (annualized), three months ended September 30, 2026other | 0.09 % | – | – |
| Total nonperforming assets, September 30, 2026other | $310.8M | – | – |
| Nonperforming loans as a percentage of period end loans, September 30, 2026other | 0.57 % | – | – |
| Tangible equity-to-tangible assets, September 30, 2026non-GAAP | 8.40 % | – | – |
| Tier 1 leverage, September 30, 2026other | 9.4 % | – | – |
| Tier 1 common equity, September 30, 2026other | 11.1 % | – | – |
| Total risk-based capital, September 30, 2026other | 13.5 % | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Fees on deposit accountsNoninterest income line item for the three months ended September 30, 2026. | $42.81M | – | – |
| Mortgage banking incomeNoninterest income line item for the three months ended September 30, 2026. | $5.63M | – | – |
| Trust and investment services incomeNoninterest income line item for the three months ended September 30, 2026. | $15.84M | – | – |
| Total correspondent banking and capital markets incomeCapital markets activity softened as treasury yields rose. | $14.56M | – | – |
| Bank owned life insurance incomeNoninterest income line item for the three months ended September 30, 2026. | $9.93M | – | – |
| Other noninterest incomeNoninterest income line item for the three months ended September 30, 2026. | $5.14M | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- Repurchased a total of 250,000 shares during the quarter at a weighted average price of $104.45.
- The Board of Directors declared a quarterly cash dividend on its common stock of $0.66 per share, payable on November 13, 2026 to shareholders of record as of November 6, 2026.
- Dividends per common share were $ 0.66 for the three months ended September 30, 2026, compared with $ 0.60 for the three months ended June 30, 2026 and $ 0.60 for the three months ended September 30, 2025.
What drove it
- Loans and deposits each grew at a 9% annualized rate, with growth broad-based across geographies and business lines and boosted by bankers added over the past year.
- Net interest income increased by $16 million, or 3%, compared to the prior quarter.
- Noninterest expense increased by $17 million compared to the prior quarter, primarily due to salaries and employee benefits expense.
- Compensation expense increases were due to July 1 merit increases, successful execution of the revenue producer hiring initiative, higher incentive accruals, and a reduction in deferred loan costs compared to the prior quarter.
- Loan accretion income was $27 million, decreasing by $6 million compared to the prior quarter and by $56 million year over year.
Concerns
- Net interest margin, non-tax equivalent, was 3.77 %, compared with 3.78 % in the prior quarter and 4.05 % in the prior-year quarter.
- Noninterest income was $ 93,911, compared with $ 96,726 in the prior quarter and $ 99,086 in the prior-year quarter.
- Correspondent banking and capital markets income was $ 14,564, compared with $ 20,811 in the prior quarter.
- Provision for credit losses was $ 20,345, compared with $ 15,919 in the prior quarter and $ 5,085 in the prior-year quarter.
- Total nonperforming assets were $ 310,770, compared with $ 287,388 in the prior quarter.
- Accumulated other comprehensive loss was $ (539,610 ) at September 30, 2026, compared with $ (310,135 ) at June 30, 2026.
What to watch
- The trajectory of net interest margin and total deposit cost, which were 3.77 % and 1.80 %, respectively, for the third quarter.
- Loan accretion income, which was $ 26,642 for the third quarter; remaining acquired-loan discount to be accreted totaled $159.3 million as of September 30, 2026.
- The provision for credit losses, net charge-offs, nonperforming assets, and allowance coverage as loan growth continues.
- Salaries and employee benefits expense, which was $ 217,237 for the third quarter, including the effects of merit increases, revenue producer hiring, incentive accruals, and deferred loan costs.
- Capital markets activity, which management said softened as treasury yields rose.
- September 30, 2026 capital ratios are estimated and may be subject to change pending the final filing of the FR Y-9C.
Balance sheet and cash flow
- Cash and cash equivalents were $ 2,974,618 at September 30, 2026, compared with $ 2,350,312 at June 30, 2026 and $ 3,144,455 at September 30, 2025.
- Total assets were $ 70,439,664 at September 30, 2026, compared with $ 68,910,028 at June 30, 2026 and $ 66,048,210 at September 30, 2025.
- Federal funds purchased and securities sold under agreements to repurchase were $ 498,173 at September 30, 2026.
- Other borrowings were $ 996,855 at September 30, 2026.
- Total shareholders' equity was $ 9,047,333 at September 30, 2026, compared with $ 9,131,468 at June 30, 2026 and $ 9,011,126 at September 30, 2025.
- Common shares issued and outstanding were 96,757,601 at September 30, 2026, compared with 96,971,142 at June 30, 2026 and 101,089,231 at September 30, 2025.
Analysis
SouthState reported third-quarter GAAP net income of $ 223,798 and diluted earnings per common share of $ 2.30, compared with $ 230,022 and $ 2.35 in the prior quarter and $ 246,641 and $ 2.42 in the prior-year quarter. Adjusted net income and adjusted diluted EPS were identical to their GAAP counterparts in the current quarter. For the nine months ended September 30, 2026, GAAP and adjusted net income were each $ 679,640, while diluted EPS and adjusted diluted EPS were each $ 6.93.
Core balance-sheet growth was the central positive. Total loans were $ 52,053,093, increasing by $1.2 billion, or 9%, compared to the prior quarter and by $4.4 billion, or 9%, year over year. Total deposits were $ 57,638,281, increasing by $1.3 billion, or 9%, compared to the prior quarter and by $3.6 billion, or 7%, year over year. Management attributed growth to broad-based demand across geographies and business lines and bankers hired over the prior year. Net interest income rose to $ 591,518 from $ 575,949 in the prior quarter, but was below $ 599,697 in the prior-year quarter.
Margin and fee-income trends moderated. Non-tax-equivalent net interest margin was 3.77 %, versus 3.78 % in the prior quarter and 4.05 % in the prior-year quarter, as total deposit cost rose to 1.80 % from 1.76 % in the prior quarter. Acquired-loan accretion was $ 26,642, versus $ 33,054 in the prior quarter and $ 82,976 in the prior-year quarter. Total noninterest income was $ 93,911, down from $ 96,726 in the prior quarter, with total correspondent banking and capital markets income at $ 14,564 versus $ 20,811. Management stated that capital markets activity softened as treasury yields rose.
Expense and credit costs increased sequentially. Total noninterest expense was $ 374,763, compared with $ 357,749 in the prior quarter, and the efficiency ratio was 51.61 % compared with 50.00 %. The filing attributes the expense increase primarily to salaries and employee benefits, including July 1 merit increases, revenue producer hiring, higher incentive accruals, and lower deferred loan costs. Provision for credit losses was $ 20,345 versus $ 15,919, while net charge-offs were 0.09 % of average loans and the allowance for credit losses plus reserve for unfunded commitments was 1.29 % of loans. Total nonperforming assets increased to $ 310,770 from $ 287,388 in the prior quarter.
Capital returns continued through a 250,000-share repurchase at a weighted average price of $104.45 and a declared $0.66-per-share quarterly cash dividend. Tangible book value per common share was $ 58.19, an increase of 7% year over year but below $ 58.72 in the prior quarter. Tangible equity-to-tangible assets was 8.40 %, while Tier 1 leverage, Tier 1 common equity, and total risk-based capital were 9.4 %, 11.1 %, and 13.5 %, respectively. The filing provides no forward financial guidance, leaving future margin, expense, credit-cost, and growth expectations unquantified.
Management, verbatim
The third quarter was marked by strong balance sheet growth and a stable net interest margin.
John C. Corbett, chief executive officer
Loans and deposits each grew at a 9% annualized rate, with growth broad-based across our geographies and business lines, and boosted by the bankers we've added over the past year.
John C. Corbett, chief executive officer
Asset quality remains favorable, and while capital markets activity softened as treasury yields rose, the core franchise continues to perform well.
John C. Corbett, chief executive officer
Not in the filing
stated, not guessed- Forward financial guidance was not provided.
- Prior-period outlook was not provided.
- Operating cash flow was not reported.
- Free cash flow was not reported.
- A total revenue metric was not reported.
- Gross margin was not reported.
- Segment reporting was not provided.
- Total debt was not reported as a single line item.
- Share-price performance was not reported.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
SouthState Bank filed a Form 8‑K on Oct 21, 2026, disclosing its unaudited Q3 2026 financial results and dividend declaration.
Ticker impact
SouthState Bank reported Q3 2026 earnings with diluted EPS $2.30, net income $224M, and declared a $0.66 dividend.
likely modest upside as investors price in strong earnings and dividend hike
The release shows earnings growth, higher dividend, and share repurchase, which typically support the stock price.
Market effects
Regional banks may see similar earnings pressure from interest rate environment.
US banking sector could be influenced by SouthState's results.
Limited to US regional banking; minimal global impact.
Counterpoint
Despite earnings beat, higher rates could compress net interest margins and limit upside.
Key entities
- companySouthState Bank Corp
US regional bank reporting Q3 2026 earnings.
