SouthState Bank CorporationSSB
NYSE•Financial Services•Banks - Regional
SouthState Bank 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 in the United States. The company offers checking accounts, savings accounts, money market accounts, and time deposit accounts; interest-bearing deposits, certificates of deposits, and other time deposits; and interest-bearing transaction accounts. It provides bond accounting services for correspondents, asset/liability consulting related activities, international wires, and other clearing and corporate checking account services. In addition, the company offers commercial real estate, residential real estate, and 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. Further, it provides debit and credit 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. Additionally, the company offers safe deposit boxes, bank money orders, wire transfer and ACH services, brokerage services, and alternative investment products, such as annuities and mutual funds, trust and asset management services; letters of credit and home equity lines of credit; and online, mobile, and telephone banking platforms. The company was formerly known as SouthState Corporation and changed its name to SouthState Bank Corporation in September 2025. SouthState Bank Corporation was founded in 1933 and is headquartered in Winter Haven, Florida.
SouthState Bank Corporation (SSB) reported trailing twelve months revenue of $3.78B as of March 2026, a 37.5% increase year-over-year. Quarterly revenue reached $916.93M, reflecting continued top-line momentum.
SouthState Bank Corporation generated $935.41M in TTM net income, with quarterly EBITDA of $312.68M. The operating margin expanded from 13.6% to 31.8%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (31.8%) and net margin (24.6%) indicates moderate non-operating costs. Net margin has improved from 10.0% a year ago, signaling stronger bottom-line efficiency.
SSB trades at a P/E of 9.5x (below the broader market average) and a P/S of 2.4x. The price-to-book ratio of 1.0x suggests the stock trades below its book value.
The company generated $282.96M in free cash flow over the trailing twelve months, a 303.4% increase year-over-year, indicating cash generation ability. The balance sheet shows $67.98B in total assets with no in long-term debt against $9.03B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~28.7%, suggesting durable pricing power and cost discipline.
ROE is positive at ~8.2% on average, adequate but below the threshold typically associated with wide moats.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~60.9% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~32.0% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Shares outstanding increased 29.2% — significant dilution, likely from stock compensation or capital raises.