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South State Corp

Financial Services US SSB

97.09USD
0.31(0.32%)

Last update at 2024-08-30T20:10:00Z

Day Range

96.1497.94
LowHigh

52 Week Range

60.8687.20
LowHigh

Fundamentals

  • Previous Close 96.78
  • Market Cap5881.11M
  • Volume539032
  • P/E Ratio12.59
  • Dividend Yield2.69%
  • Revenue TTM1608.71M
  • Revenue Per Share TTM21.12
  • Gross Profit TTM 1563.06M
  • Diluted EPS TTM6.13

Financials

Income Statement

Balancesheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax 633.36M 604.28M 103.97M 230.43M 224.25M
Minority interest - - - - -
Net income 496.05M 475.54M 120.63M 186.48M 178.87M
Selling general administrative 597.87M 670.76M 511.18M 299.56M 291.83M
Selling and marketing expenses 8.89M 7.96M 4.09M 4.31M 4.22M
Gross profit 1563.06M 1552.70M 901.62M 635.06M 645.18M
Reconciled depreciation 33.20M 35.19M 46.37M 33.12M 35.70M
Ebit 694.72M 604.28M 103.97M 230.43M 299.73M
Ebitda 727.92M 639.47M 150.34M 243.51M 313.94M
Depreciation and amortization 33.20M 35.19M 46.37M 13.08M 14.21M
Non operating income net other - - - - -
Operating income 694.72M 604.28M 103.97M 230.43M 278.25M
Other operating expenses 24.22M -783.14800M -1033.63300M -417.41500M 376.91M
Interest expense 61.35M 51.63M 83.56M 86.55M 53.99M
Tax provision 137.31M 128.74M -16.66000M 43.94M 45.38M
Interest income 1397.03M 1084.85M 910.03M 590.83M 567.21M
Net interest income 1335.67M 1033.22M 826.47M 504.27M 513.22M
Extraordinary items - - - - 0.99M
Non recurring - - - - -
Other items - - - - -
Income tax expense 137.31M 128.74M -16.66000M 43.94M 45.38M
Total revenue 1563.06M 1552.70M 901.62M 635.06M 645.18M
Total operating expenses 24.22M -783.14800M -1033.63300M -417.41500M -376.90700M
Cost of revenue - - - - 2.03M
Total other income expense net -61.35400M -51.62900M -83.56300M -86.55200M -53.99200M
Discontinued operations - - - - -
Net income from continuing ops 496.05M 475.54M 120.63M 186.48M 178.87M
Net income applicable to common shares 496.05M 475.54M 120.63M 186.48M 178.87M
Preferred stock and other adjustments - - - - -
Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total assets 44902.02M 43918.70M 41960.03M 37789.87M 15921.09M
Intangible assets 173.94M 203.06M 193.69M 206.41M 80.34M
Earning assets - - - - 2491.22M
Other current assets - 364.01M 26704.99M 26625.43M 9870.61M
Total liab 39368.93M 38843.77M 327.07M 390.18M 13548.08M
Total stockholder equity 5533.10M 5074.93M 4802.94M 4647.88M 2373.01M
Deferred long term liab - - - - -
Other current liab -100.00000M 36564.22M 35436.02M 31078.62M -700.00000M
Common stock 190.06M 189.26M 173.33M 177.43M 84.36M
Capital stock 190.06M 189.26M 173.33M 177.43M 84.36M
Retained earnings 1685.17M 1347.04M 997.66M 657.45M 679.89M
Other liab - 391.97M 993.96M 1278.27M 137.02M
Good will 1923.11M 1923.11M 1581.09M 1563.94M 1002.90M
Other assets 36911.28M 35305.50M 26704.99M 23043.02M 9870.61M
Cash 762.44M 548.39M 476.65M 4609.26M 688.70M
Cash and equivalents - - - - -
Total current liabilities 100.00M 36564.22M 35836.07M 31078.62M 700.00M
Current deferred revenue - - - - -
Net debt -280.84800M -156.11200M -149.58700M -4219.07600M 127.23M
Short term debt 100.00M - - - 700.00M
Short long term debt 100.00M - - 0.00000M 700.00M
Short long term debt total 481.59M 392.27M 327.07M 390.18M 815.94M
Other stockholder equity 4240.41M 4215.71M 3653.10M 3765.41M 1607.74M
Property plant equipment - 520.63M 558.50M 579.24M 317.32M
Total current assets 5295.31M 5875.21M 5670.13M 7939.93M 2644.75M
Long term investments 7495.19M 8221.04M 7251.64M 34204.50M 2005.17M
Net tangible assets - 3035.37M 3093.79M 2921.35M 1320.30M
Short term investments 4784.39M 5326.82M 5193.48M 3330.67M 1956.05M
Net receivables - 29821.42M - 24664.13M -
Long term debt 381.59M 392.27M 327.07M 1195.01M 105.63M
Inventory - 1.17M 3.46M 12.26M 6.86M
Accounts payable - 36350.62M 35054.83M 30693.88M 12177.10M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income -582.53600M -677.08800M -21.14600M 47.59M 1.02M
Additional paid in capital - - - - -
Common stock total equity - 189.26M 173.33M 177.43M 84.36M
Preferred stock total equity - - - - -
Retained earnings total equity - 1347.04M 997.66M 657.45M -
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other -7580.35600M -8307.65300M -64.96400M -110.94600M -31.31600M
Deferred long term asset charges - - - - -
Non current assets total 2695.43M 2737.99M 9584.91M 6806.92M 3405.73M
Capital lease obligations - - - - -
Long term debt total - 1034.14M 410.14M 1195.01M 115.93M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments -5033.72400M -2096.47400M -1345.95500M -795.05300M -281.70000M
Change to liabilities -158.79000M 61.52M -7.55000M 0.00000M 5.43M
Total cashflows from investing activities -4860.39600M -2319.26100M 1229.78M -795.05300M -282.14900M
Net borrowings -237.82200M -74.30500M -620.72400M 578.09M 33.79M
Total cash from financing activities -2279.50500M 4015.89M 2153.83M 893.75M 29.79M
Change to operating activities 595.92M -358.04500M -19.76900M 6.44M 6.07M
Net income 496.05M 475.54M 120.63M 186.48M 178.87M
Change in cash -5409.00800M 2233.89M 3920.55M 279.72M 31.36M
Begin period cash flow 6721.57M 4609.26M 688.70M 408.98M 377.63M
End period cash flow 1312.56M 6843.15M 4609.26M 688.70M 408.98M
Total cash from operating activities 1730.89M 537.26M 536.94M 181.03M 283.71M
Issuance of capital stock 2.86M 2.38M 1.54M 1.39M 1.33M
Depreciation 64.59M 63.14M 46.37M 33.12M 35.70M
Other cashflows from investing activities 191.00M -194.36900M 2592.66M 19.66M 14.09M
Dividends paid -146.66400M -135.33700M -98.25600M -57.69600M 50.56M
Change to inventory - -15.28500M 14.55M -19.69100M -
Change to account receivables -32.82900M 17.08M -19.36200M -0.77700M -3.26900M
Sale purchase of stock -119.33000M -147.42100M -32.43100M -159.43100M -70.57700M
Other cashflows from financing activities -2003.36900M 4397.14M 3483.08M 1259.49M 689.60M
Change to netincome 1321.03M 16.29M 410.82M -25.32900M 86.48M
Capital expenditures 17.67M 28.42M 16.93M 15.80M 14.54M
Change receivables -32.82900M 17.08M -19.36200M - -3.26900M
Cash flows other operating 78.13M -71.19700M 10.17M - -27.06500M
Exchange rate changes - - - - -
Cash and cash equivalents changes -5409.00800M 2233.89M 3920.55M - 31.36M
Change in working capital 799.98M -30.80200M -18.27000M -18.81400M 2.95M
Stock based compensation 35.64M 25.72M 23.32M 8.84M 8.78M
Other non cash items 211.09M -64.18400M 409.18M -27.10900M 43.23M
Free cash flow 1713.22M 508.85M 520.01M 165.23M 269.17M

Peer Comparison

Sector: Financial Services Industry: Banks - Regional

Company Change (USD) Price (USD) Trailing PE (x) Forward PE (x) Price Sales TTM (x) Price to Book Value (x)
SSB
South State Corp
0.31 0.32% 97.09 12.59 12.21 3.69 1.08
HDB
HDFC Bank Limited ADR
0.11 0.18% 61.11 20.81 20.96 0.11 4.77
CIHHF
China Merchants Bank Co Ltd Class H
- -% 4.24 4.13 3.71 0.32 0.59
CIHKY
China Merchants Bank Co Ltd
-0.61 2.88% 20.60 4.27 3.64 0.33 0.58
IBN
ICICI Bank Limited
0.19 0.65% 29.31 17.79 16.95 0.07 3.08

Reports Covered

Stock Research & News

Profile

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It offers checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits, as well as bond accounting, asset/liability consulting related activities, and other clearing and corporate checking account services. The company also offers commercial real estate loans, residential real estate loans, commercial, and industrial loans, as well as consumer loans, including auto, boat, and personal installment, as well as business, agriculture, real estate-secured (mortgage), home improvement, and manufactured housing loans. In addition, it provides debit card, mobile services, funds transfer products and services, and treasury management services comprising merchant, automated clearing house, lock-box, remote deposit capture, and other treasury services, as well as asset and wealth management, and other fiduciary and private banking services. Further, the company offers safe deposit boxes, bank money orders, wire transfer, brokerage services, and alternative investment products, including annuities, mutual funds, and trust management services; and credit cards, letters of credit, and home equity lines of credit. The company also serves its customers through online, mobile, and telephone banking platforms. The company was formerly known as First Financial Holdings, Inc. and changed its name to SouthState Corporation in July 2013. SouthState Corporation was founded in 1933 and is headquartered in Winter Haven, Florida.

South State Corp

1101 First Street South, Winter Haven, FL, United States, 33880

Key Executives

Name Title Year Born
Mr. Robert R. Hill Jr. Exec. Chairman 1967
Mr. John C. Corbett CEO & Director 1969
Mr. William E. Matthews V Sr. Exec. VP & CFO 1965
Ms. Renee R. Brooks Chief Operating Officer 1970
Mr. Stephen Dean Young Sr. Exec. VP & Chief Strategy Officer 1977
Mr. Richard Murray IV Pres 1963
Ms. Sara G. Arana Sr. VP & Chief Accounting Officer 1984
Ms. Beth S. DeSimone Chief Risk Officer, Gen. Counsel & Corp. Sec. 1960
Mr. John C. Pollok Sr. Exec. VP & Director 1966
Mr. Greg A. Lapointe Chief Banking Officer 1964

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