Southstate Bank Corporation · NYSE:SSB
Southstate Bank — Q1 2026 Earnings Presentation
33 slides from Southstate Bank's earnings presentation, Apr 24, 2026
Slide 1: 1Q 2026 Earnings Presentation
1Q 2026 Earnings Presentation April 24, 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 $56B $48 B Denver $4B Deposits ATL-CLT Corridor Assets Loans Deposits #2 Regional Bank $10B Deposits $55 B $7.4 B #4 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) 6.8% 7.0% 4.9% 4.5% 4.1% 2.6% (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% 5.8% 3.3% 3.5% 5.2% 1.2% 3.7% 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: Quarterly Highlights
1 Q 2 6 Q U A R T E R LY H I G H L I G H T S ( 1 ) 1Q26 1Q25 Reported / Reported(†) Adjusted ROA of 1.37%* Net Income $ 226 $ 89 / $ 219 Loans increased $898 million, or 7%* PPNR $ 302 $ 221 / $ 289 Deposits increased $730 million, or 5%* EPS (Diluted) $ 2.28 $ 0.87 / $ 2.15 ROA* 1.37% 0.56% /
Slide 10: Loan Production and Net Loan Growth Trend
LOAN PRODUCTION AND NET LOAN GROWTH TREND (1) Loan Production Loan Portfolio Growth(1) $3,915 $4,000 $3,775 $3,500 $3,335 $3,375 $3,000 $2,500 $2,124 $2,000 $1,500 $1,000 $500 $931 $898 $501 $401 $— (2) $(500) $(263) 1Q25 2Q25 3Q25 4Q25 1Q26 Dollars in millions For end note descriptions, see Earning
Slide 11: Net Interest Margin (TE)
N E T I N T E R E S T M A R G I N ( T E ) (1) Net Interest Income Net Interest Margin, TE (1) 5.00% 4.75% $600 4.50% 4.25% 4.02% 4.06% 3.85% 3.86% 4.00% 3.79% $500 $599.7 3.75% $577.9 $581.1 $561.6 $544.5 3.50% 3.25% $400 3.00% 1Q25 2Q25 3Q25 4Q25 1Q26 Dollars in millions For end note descriptions,
Slide 12: Noninterest Income
NONINTEREST INCOME Noninterest Income(1) Correspondent Revenue Breakout $120 1.00% $35 $30.6 $30.0 $106 $30 $99 $100 $25.5 $24.4 $25.0 $87 $25 $90 $86 0.80% $19.2 $20.0 $20 $16.7 $15.0 0.63% 0.60% 0.61% $15 $ in millions $60 0.60% 0.54% 0.54% $10.0 $ in millions $10 $5.0 $5 $30 0.40% $- $— $(4.3) $(
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) No. of Avg. Loan 5% Loan Type Loans Balance Balance Investor CRE (2) Investor CRE 11,255 $ 18.3B $ 1,626,500 37% C&I Consumer RE 50,535 10.6B 209,200 19% Owner-Occupied CRE 8,835 7.7B 868,900 Total Loans $49.5 Billion C&I 22,529
Slide 15: Premium Deposit Franchise
PREMIUM DEPOSIT FRANCHISE Total Cost of Deposits Deposits by Type 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q26(1) 2.40% SSB Peer Average(1) 2.05% Time Noninterest- 1.87% Deposits bearing 1.82% 13% Checking 1.86% 25% 1.80% 1.76% 1.20% 0.77% Total Deposits 0.52% $55.9 Billion 0.31% 0.33
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% 0.68% 0.67% 0.66% 0.75% 0.64% 0.60% 0.27% 0.25% 0.50% (1) 0.09% 0.09% (1) 0.06% 0.25% 0.04% —% —% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Special Mention & Classified Asset
Slide 18: Classified Assets Summary
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 Other Multifamily $747 55% 99.5% 11% Warehouse/Industrial $168 53% 99.5% SBA 6% Office $166 64% 98.8% Retail $96 57% 93.6% OO CRE Nursing Home $89 63% 93.3% Self S
Slide 19: Minimal Exposure to NDFIs
M I N I M AL E XP O S UR E TO N D F I s NDFI % of Total Loans 6.3% • 3rd lowest NDFI exposure among Business Credit Mortgage Credit peers in terms of total loans and total Other Loans Intermediaries Intermediaries capital to NDFIs 5% 10% 12% 1.7% • Private Equity portfolio consists of capital call l
Slide 20: Capital
Capital Gr
Slide 21: Strong Capital Position and Returns
STRONG CAPITAL POSITION AND RETURNS Key Highlights Since 1Q25 Tangible Book Value per Share(2) LTM net payout of 65% $56.90 3.9% of shares repurchased $56.27 11% increase in dividend to $.60 per share $54.48 14% growth in tangible book value per share(2) $51.96 CET1 Ratio(1) 11.5% 11.4% 11.2% 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: Building Speed and Scale Through AI
BUILDING SPEED AND SCALE THROUGH AI Formal Program Dedicated to AI Execution & Results INDIVIDUAL DEPARTMENTAL ENTERPRISE Team Member Productivity Optimized Workflows Process Transformation ADOPTION & ENABLEMENT Team member Copilot usage Internal knowledge search Automated credit spreading AI capabi
Slide 25: 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 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% 3.50% 3.50% 3.49% Portfolio† 3.40% $8.5 Billion 3.2% 79% 2.99% 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) * 1Q25 2Q25 3Q25 1Q25 1Q26 1Q25 1Q26 Net interest income (GAAP) $ 544,547 $ 577,948 $ 599,697 $ 581,115 $ 561,605 Net income (GAAP) $ 89,080 $ 225,820 Tax equivalent
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 1Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Adjusted net income (non-GAAP) $ 219,282 $ 225,820 Shareholders' common equity $ 8,624,361 $ 8,801,134 $ 9,011,126 $ 9,059,10
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 March 31, 2026; Market data as of April 22, 2026 Slide 3 End Notes Source: S&P Global Market Intelligence, Company Filings; Depository data as of June 30, 2025 and includes major MSAs in each region. Note:
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 (1) b. Adjusted PPNR is a non-GAAP financial measure that excludes the impact of losses on sales of securities, gain on sale leaseback, net of transaction costs, and merger, branch consolidation, severance related and other res
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 19 End Notes Note: Peers as disclosed in the most recent proxy statement, excluding acquired companies (CADE, CMA, SNV) Slide 21 End Notes (1) Preliminary (2) The tangible measures are non-GAAP measures and exclude the effect of period end
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