Southstate Bank Corporation · NYSE:SSB
Southstate Bank — Q3 2026 Earnings Presentation
33 slides from Southstate Bank's earnings presentation, Oct 22, 2026
Slide 1: 3Q 2026 Earnings Presentation
3Q 2026 Earnings Presentation October 22, 2026
Slide 2: Value Proposition
VALUE PROPOSITION VA L U E P R O P O S I T I O N Premier Operating in the Local Leadership Long-Term Track Deposit Best Growth Model Driving Record of Franchise Markets Durable Results Shareholder Value Creation Regional bank Shoot where the Above peer results over Top quartile TSR leader with scale
Slide 3: Premier Deposit Franchise
1 P R E M I E R D E P O S I T F R A N C H I S E (1) Fort Collins Front Range $65 B $58B $48 B Denver $4B Deposits ATL-CLT Corridor Assets Loans Deposits #2 Regional Bank $15B Deposits $55 B $7.4 B #3 Regional Bank Richmond Deposits Market Cap 1.4M Charlotte Deposit Greenville Accounts Birmingham Atl
Slide 4: Operating in the Best Growth Markets
2 O P E R AT I N G I N T H E B E S T G R O W T H M A R K E T S Leading Growth Characteristics… … Support Superior Growth Projected Population Growth(1) Loans per Share CAGR – Last 5 Years (non-GAAP)(3) 5.7% 7.0% 4.0% 4.9% 4.1% 2.2% (2) (2) SSB Regional Competitors National Average SSB Regional Compe
Slide 5: Local Leadership Model Driving Durable Results
3 L O C A L L E A D E R S H I P M O D E L D R I V I N G D U R A B L E R E S U LT S Local Leadership Model Leading Long-Term Operating Results(1) 21 division presidents provide localized decision-making driving tailored client outcomes Sustained Superior Profitability … Adjusted ROAA (non-GAAP)(2) In
Slide 6: Long-Term Track Record of Shareholder Value Creation
4 L O N G - T E R M T R A C K R E C O R D O F S H A R E H O L D E R V A L U E C R E AT I O N Track Record of Profitable & Prudent Growth EPS CAGR – Last 20 Years TBVPS CAGR – Last 20 Years 8.0% 7.6% 5.3% 5.6% 3.9% 3.5% 3.8% 1.4% SSB Peer Median KRX BKX SSB Peer Median KRX BKX Total Shareholder Retur
Slide 7: 2026 Focus
2026 FOCUS 2026 FOCUS Expanding sales force Driving meaningful balance sheet growth Share repurchases supported by robust earnings Leveraging AI to drive speed and scale 7
Slide 8: Quarterly Results
Quarterly Results Gr
Slide 9: 3Q26 Quarterly Highlights
3 Q 2 6 Q U A R T E R LY H I G H L I G H T S ( 1 ) 3Q26 3Q25 Reported / Reported(†) Adjusted(†) ROA of 1.29%* Net Income $ 224 $ 247 / $ 263 Loans increased $1.2 billion, or 9%* PPNR $ 311 $ 326 / $ 347 Deposits increased $1.3 billion, or 9%* EPS (Diluted) $ 2.30 $ 2.42 / $ 2.58 ROA* 1.29% 1.4
Slide 10: Loan Production and Net Loan Growth Trend
LOAN PRODUCTION AND NET LOAN GROWTH TREND (1) Loan Production (1) Loan Portfolio Growth $5,165 $5,000 $4,892 $4,500 $4,000 $3,915 $3,775 $3,500 $3,375 $3,000 $2,500 $2,000 $1,500 $1,000 $1,350 $1,206 $500 $931 $898 $401 $— 3Q25 4Q25 1Q26 2Q26 3Q26 Dollars in millions For end note descriptions, see E
Slide 11: Net Interest Margin
N E T I N T E R E S T M A R G I N (1) (1) Net Interest Income excld. Accretion Accretion Net Interest Income 4.06% 3.86% 3.79% 3.78% 3.78% 4.0% $600 3.8% $599.7 $591.5 $581.1 $575.9 3.5% $580 $561.6 $26.6 $500 $33.1 3.3% $83.0 $50.3 $38.8 3.0% 2.8% $400 $480 2.5% $564.9 $530.8 $542.8 $516.7 $522.8 2
Slide 12: Noninterest Income
NONINTEREST INCOME Noninterest Income Correspondent Revenue Breakout $120 1.00% $35 $30.6 $30.0 $106 $30 $99 $100 $25.5 $97 $24.4 $24.8 $25.0 $94 $25 $90 0.80% $20.1 $20.0 $20 $15.0 0.63% 0.60% 0.61% $15 $ in millions $60 0.57% 0.60% 0.54% $10.0 $ in millions $10 $5.0 $5 $30 0.40% $- $— $(4.3) $(3.2
Slide 13: Balance Sheet
Balance Sheet Gr
Slide 14: Total Loan Portfolio
TOTA L L O A N P O R T F O L I O Loans by Type Cons / Other 2% CDL(1) C&I No. of Avg. Loan 19% Loan Type Loans Balance Balance 5% Investor CRE 11,016 $ 19.1B $ 1,731,600 Consumer RE 51,344 11.3B 220,900 Owner- Occupied C&I 22,782 9.8B 430,500 Total Loans CRE Investor CRE(2) $52.1 Billion 15% Owner-O
Slide 15: Premium Deposit Franchise
PREMIUM DEPOSIT FRANCHISE Deposits by Type Noninterest- Time bearing Granular, Low-cost Core Deposit Base Deposits Checking 14% 23% • 1.4 million total deposit accounts o ~1.1M consumer accounts with $18K average balance and over 10-year average Total Deposits relationship $57.6 Billion Interest- o
Slide 16: Credit
Credit
Slide 17: Asset Quality Metrics & Loan Loss Reserve
ASSET QUALIT Y METRICS & LOAN LOSS RESERVE Net Charge-Offs to Loans Nonperforming Assets to Loans & OREO 0.50% 1.00% 0.75% 0.67% 0.64% 0.66% 0.57% 0.60% 0.27% 0.25% 0.50% 0.09% 0.09% 0.09% 0.06% 0.25% —% —% 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 Special Mention & Classified Asset Trends T
Slide 18: Classified Asset Summary (Substandard & Nonaccrual)
C L A S S I F I E D A S S E T S U M M A R Y ( S U B S TA N D A R D & N O N A C C R U A L ) (1) (2) Investor CRE $M Wtd Avg LTV % Current SBA Multifamily $758 55% 99.1% 7% Warehouse/Industrial $160 54% 99.8% OO CRE 10% Retail $105 55% 87.6% Office $95 68% 97.8% Self Storage $83 55% 100.0% Other $103
Slide 19: Minimal Exposure to NDFIs
M I N I M AL E XP O S UR E TO N D F I s – 3Q 26 NDFI % of Total Loans 8.0% • 2nd lowest NDFI exposure among Mortgage Credit peers in terms of total loans and Intermediaries total capital 9% Other Loans to NDFIs Business Credit • Private Equity portfolio consists 24% Intermediaries 8% 1.6% of capital
Slide 20: Capital
Capital Gr
Slide 21: Strong Capital Position and Returns
STRONG CAPITAL POSITION AND RETURNS Key Highlights Since 3Q25 Tangible Book Value per Share(2) $58.72 LTM net payout of 75% $58.19 $56.90 4.7% of shares repurchased $56.27 10% increase in dividend to $0.66 per share $54.48 7% growth in tangible book value per share(2) CET1 Ratio(1) 11.5% 11.4% 11.3%
Slide 22: Appendix
Appendix Gr
Slide 23: Core Values Guiding Principles
CORE VALUES GUIDING PRINCIPLES GREATER PURPOSE ~ We enable our team members to pursue their ultimate purpose in S life—their personal faith, their family, their service to community. .\ SouthState 2. LOCAL MARKET LEADERSHIP Our business model supports the unique character of the communities we serve
Slide 24: Population Migration to the South Continues
P O P U L AT I O N M I G R AT I O N T O T H E S O U T H C O N T I N U E S Top 10 States Net Domestic Migration 1. Florida 890,348 2. Texas 812,735 3. North Carolina 476,921 4. South Carolina 379,062 5. Tennessee 292,727 6. Arizona 282,626 7. Georgia 232,849 8. Alabama 141,048 9. Idaho 139,784 10. Ok
Slide 25: AI at SouthState
AI at SouthState GenAI Knowledge Microsoft Copilot Internal Customer Experimentation Assistant Adoption Efficiencies Experience • Chat interface for policy • 4,200+ active users • Automated Credit Marketing: • Call prep for bankers (in & procedure questions Spreads ~90% • New AI-ready website with p
Slide 26: High Quality Investment Portfolio
HIGH QUALIT Y INVESTMENT PORTFOLIO Investment Portfolio† Composition Investment Securities Yield(2) 0.3% Agency MBS(1) 4.0% Treasury, Agency & SBA 12% Municipal Corporates 9% Total Investment 3.6% 3.54% 3.55% 3.50% 3.49% Portfolio† 3.40% $8.3 Billion 3.2% 79% 2.8% AFS HTM Type Duration Duration Bala
Slide 27: Non-GAAP Reconciliations (Unaudited)
N O N - G A A P R E C O N C I L I AT I O N S ( U N A U D I T E D ) Adjusted Net Income Net Interest Margin - Tax Equivalent (Non-GAAP) * 3Q25 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 Net income (GAAP) $ 246,641 $ 223,798 Net interest income (GAAP) $ 599,697 $ 581,115 $ 561,605 $ 575,949 $ 591,518 Plus: Tax equ
Slide 28: Non-GAAP Reconciliations (Unaudited)
N O N - G A A P R E C O N C I L I AT I O N S ( U N A U D I T E D ) Adjusted Return on Average Assets * Tangible Book Value per Common Share 3Q25 3Q26 3Q25 4Q25 1Q26 2Q26 3Q26 Adjusted net income (non-GAAP) $ 262,673 $ 223,798 Shareholders' common equity $ 9,011,126 $ 9,059,108 $ 9,030,916 $ 9,131,46
Slide 29: Earnings Presentation End Notes
E A R N I N G S P R E S E N T AT I O N E N D N O T E S Slide 2 End Notes Financial data as of September 30, 2026; Market data as of October 20, 2026 Slide 3 End Notes (1) Source: S&P Global Market Intelligence, Company Filings; Depository data as of June 30, 2026 and includes all MSAs in each region
Slide 30: Earnings Presentation End Notes
E A R N I N G S P R E S E N T AT I O N E N D N O T E S Slide 9 End Notes * : Annualized percentages † : Where only one figures is presented, reported and adjusted results are equal or differences are not meaningful due to rounding; for adjusted results, see reconciliation of GAAP to Non-GAAP measure
Slide 31: Earnings Presentation End Notes
E A R N I N G S P R E S E N T AT I O N E N D N O T E S Slide 18 End Notes (1) Weighted average LTVs exclude loans on non-accrual. Slide 19 End Notes Note: Peers as disclosed in the most recent proxy statement, excluding acquired companies (CADE, CMA, SNV, WBS) Slide 21 End Notes (1) Preliminary (2)
Slide 32: Cautionary Note Regarding Forward Looking Statements
C A U T I O N A R Y N O T E R E G A R D I N G F O R W A R D L O O K I N G S T AT E M E N T S This presentation contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of managem
Slide 33: SouthState
S SouthState