Note 29—Segment Reporting

The Company, through the Bank, provides a broad range of financial services to individuals and companies primarily in Florida, South Carolina, Texas, Georgia, Colorado, North Carolina, Alabama, and Virginia. These services include, but not limited to, demand, time and savings deposits; lending and credit card servicing; ATM processing; mortgage banking services; correspondent banking services and wealth management and trust services. The Company’s operations are managed and financial performance is evaluated on an organization-wide basis. Accordingly, the Company’s banking and finance operations are not considered by management to constitute more than one reportable operating segment. This single segment is the General Banking Unit.

The Company’s chief operating decision maker (“CODM”) is the Executive Committee. The CODM generally meets monthly and membership includes the senior executive management team including the Chief Executive Officer, Chief Strategy Officer, President, Chief Financial Officer, Chief Operating Officer, Chief Risk Officer, Chief Credit Officer and other executives.

The CODM assesses performance of the General Banking Unit using a variety of figures, metrics and key performance indicators. However, the CODM primarily utilizes net income and Net Interest Margin (“NIM”) to make business decisions. The CODM monitors these profitability measures at each meeting, and is regularly featured in various investor presentations, earnings releases, and other internal management reports. These performance and profitability measures influence business decisions and allocation of resources within the General Banking Unit.

The table below provides information about the General Banking Unit. The most significant expenses to the General Banking Unit are deposit and other borrowing interest expense as well as employee compensation.


	Year Ended December 31,
(Dollars in thousands)	2025		2024		2023
Net Income (GAAP)
Interest income	$	3,379,498	$	2,141,362	$	1,944,406
Interest expense		1,076,191		725,908		491,798
Net interest income (a)		2,303,307		1,415,454		1,452,608
Provision for credit losses		119,757		15,975		114,082
Net interest income after provision for credit losses		2,183,550		1,399,479		1,338,526
Total noninterest income
Securities (losses) gain, net		(228,811)		(50)		43
Gain on sale-leaseback, net of transaction costs		229,279		—		—
Other operating noninterest income		377,276		302,312		286,863
Total noninterest income		377,744		302,262		286,906
Total noninterest expense
Employee salaries		547,211		423,769		404,327
Employee commissions		60,291		46,176		53,175
Employee incentives		130,276		97,951		90,369
Other salaries and benefits		140,410		100,166		89,520
Deferred loan costs		(80,353)		(61,193)		(53,993)
Salaries and employee benefits		797,835		606,869		583,398
Occupancy expense		160,441		90,103		88,695
Information services expense		120,948		92,193		84,472
Professional fees		21,771		16,404		18,547
Amortization of intangibles		94,722		22,395		27,558
Business development and staff related		36,085		23,782		25,055
FDIC assessment and other regulatory charges		40,985		31,152		33,070
Merger and branch consolidation related expense		117,768		20,133		13,162
FDIC special assessment		(3,835)		3,852		25,691
Other operating expense		134,364		94,610		94,932
Total noninterest expense		1,521,084		1,001,493		994,580
Income before income tax provision		1,040,210		700,248		630,852
Income tax provision		241,543		165,465		136,544
Net income (GAAP)	$	798,667	$	534,783	$	494,308

Net Interest Margin, Non-Tax Equivalent ("Non-TE") (GAAP)
Average interest earning assets (b)	$	58,458,930	$	41,299,577	$	40,098,398
Net interest margin, non-TE ((a)/(b)) (GAAP)		3.94%		3.43%		3.62%

Historical Timeline

Fiscal Year	Filed
2025	Feb 20, 2026	Showing above
2024	Feb 21, 2025

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

SouthState Bank Corp Segments Disclosure

Historical Timeline

About Segments Disclosures

Other Available Disclosures