Southstate Bank Corporation · NYSE:SSB
Southstate Bank — Shareholder Meeting (April 2025)
22 slides from Southstate Bank's shareholder meeting presentation, Apr 23, 2025
Slide 1: Annual Shareholders' Meeting April 23, 2025
Annual Shareholders’ Meeting April 23, 2025
Slide 2: Disclaimer
DISCLAIMER 2 Statements included in this communication, which are not historical in nature are intended to be, and are hereby identified as, forward-looking statements for purposes of the safe harbor provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
Slide 3: SouthState Corporation Overview
Ranked #14 by S&P Global Greenwich Excellence & Best Brand Awards for Small Business Banking from Coalition Greenwich $65 B Assets $48 B Loans Enhanced Scale Through IBTX Partnership 343 Branch Locations 12 of 15 Fastest Growing U.S. MSAs(2) #5 Largest Regional Bank in the South(3) Dominant Southern
Slide 4: SouthState's Competitive Advantage
SOUTHSTATE’S COMPETITIVE ADVANTAGE 4 GEOGRAPHY • Regulatory sweet spot: $60 – $80 Billion • True alternative to the largest banks – for bankers and for clients • Large enough to invest in technology and capital markets • Local market leadership with income statement control and responsibility • Crea
Slide 5: The Best Geography: The Southeast / Texas / Colorado
The Best Geography The Southeast / Texas / Colorado
Slide 6: Pandemic Accelerates Population Migration to the South
2.4% 2.7% 3.5% 3.5% 4.1% 4.8% 5.6% 6.0% 6.0% U.S. VA AL CO GA NC TX SC FL Projected Population Growth (2025-2030) Source: U.S. Census Bureau (Net Domestic Migration), S&P Global PANDEMIC ACCELERATES POPULATION MIGRATION TO THE SOUTH 6
Slide 7: Positioned for the Future in the Best Growth Markets in America
POSITIONED FOR THE FUTURE IN THE BEST GROWTH MARKETS IN AMERICA $329 $357 $563 $781 $857 $899 $1,739 $2,758 AL SC CO VA NC GA FL TX GDP by State ($ in billions) The combined GDP of SouthState’s 8 state branch footprint would represent the world’s third largest economy. $2.0B $2.2B $1.0B $0.6B $3.2B
Slide 8: The Best Scale: $60 - $80 Billion – Regulation and Technology
The Best Scale $60 - $80 Billion – Regulation and Technology
Slide 9: Leading Southeast Consolidator
LEADING SOUTHEAST CONSOLIDATOR 9 Note: shows all branch, partial, and whole bank acquisitions by CenterState, Independent, South State, or one of their acquisition targets since 1/1/09 Source: S&P Global Market Intelligence Assets and label position as of announcement; numbers in bubbles denote asse
Slide 10: MOE – Funded the Technology Leap from 2020 to 2023
10 MOE – FUNDED THE TECHNOLOGY LEAP FROM 2020 TO 2023 *Actual 2020 Annual Tech Spend compared to Projected 2024 Tech Spend (includes FTEs, Software, Depreciation, Professional Fees, etc. Expanded Capabilities & Scale Increased Annual Tech Spend by ~$68 million or 76% since 2020* Replaced and/or adde
Slide 11: The Best Size – Sweet Spot After the Crisis
THE BEST SIZE – SWEET SPOT AFTER THE CRISIS Dollars in billions Source: S&P Global Market Intelligence Current Fed tailoring categories shown Excludes Canadian banks and BK, BPOP, COF, STT, and NTRS Note: Pro forma for announced transactions 11 $4,003 $3,262 $2,353 $1,930 $678 $560 $531 $224 $218 $2
Slide 12: The Best Business Model: Alignment / Autonomy / Accountability / Affinity
The Best Business Model Alignment / Autonomy / Accountability / Affinity
Slide 13: Local Market Leadership; Guiding Principles
Local Market Leadership Our business model supports the unique character of the communities we serve and encourages decision making by the banker that is closest to the customer. Long-Term Horizon We think and act like owners and measure success over entire economic cycles. We prioritize soundness b
Slide 14: Operating Performance
Operating Performance S$ SouthState
Slide 15: Loan Growth
LOAN GROWTH $23.7B $30.2B $32.4B $33.9B $20 $25 $30 $35 2021 2022 2023 2024 $ in billions Excludes loans held for sale and PPP loans; annual growth includes ACBI balance post acquisition only 15
Slide 16: Deposit Growth
DEPOSIT GROWTH $35.1B $36.4B $37.0B $38.1B $30 $32 $34 $36 $38 $40 2021 2022 2023 2024 $ in billions Annual growth includes ACBI balance post acquisition only 16
Slide 17: PPNR Per Share Growth, Diluted
PPNR PER SHARE GROWTH, DILUTED $7.31 $9.92 $10.25 $9.64 $6 $7 $8 $9 $10 $11 2021 2022 2023 2024 Adjusted PPNR per weighted average diluted share; this is a Non-GAAP financial measure that excludes the impact of merger and branch consolidation related expense, gain on sale of securities, FDIC special
Slide 18: 2024 Stock Performance vs. Indexes
23% 18% 10% 0% 5% 10% 15% 20% 25% S&P 500 SSB Regional Banks (KRX) SSB 2024 STOCK PERFORMANCE VS. INDEXES 18
Slide 19: SSB Year Stock Performance vs. Indexes
SSB 3 - YEAR STOCK PERFORMANCE VS. INDEXES 24% 23% -5% -10% -5% 0% 5% 10% 15% 20% 25% 30% SSB S&P 500 Regional Banks (KRX) 19
Slide 20: Appendix
Appendix
Slide 21: Non-GAAP Reconciliations – PPNR, Adjusted, PPNR/Weighted Avg. CS
Dollars in thousands, except for per share data 21 NON - GAAP RECONCILIATIONS – PPNR, ADJUSTED, PPNR/WEIGHTED AVG. CS 2021 2022 2023 2024 Net interest income (GAAP) $ 1,033,175 $ 1,335,671 $ 1,452,608 $ 1,415,454 Plus: Noninterest income 354,252 309,247 286,906 302,262 Less: Losses (gains) on sales
Slide 22: SouthState
S SouthState