SouthState Bank (SSB) investor relations material

Executive summary

• Achieved strong Q1 2026 results with net income of $226M and diluted EPS of $2.28, both up over 150% year-over-year, driven by robust loan and deposit growth, operational efficiency, and lower noninterest expense.

• Loans grew by $898M (7%) and deposits by $730M (5%) year-over-year, with commercial banking expansion focused on Texas and Colorado.

• Tangible book value per share increased 14% year-over-year to $56.90, even after an 11% dividend increase and nearly 4% share repurchase.

• Asset quality remained robust, with annualized net charge-offs at 0.09% of average loans and strong capital ratios.

• Strategic priorities included expanding the sales force, leveraging AI for efficiency, and executing share repurchases.

Financial highlights

• Net interest income was $562 million, up 3% year-over-year but down $19 million sequentially, mainly due to day count impact.

• Net interest margin (NIM) was 3.79%, slightly below guidance due to higher deposit costs.

• Noninterest income reached $100 million, up $14 million year-over-year, driven by correspondent banking and capital markets.

• Efficiency ratio improved to 51%, down from 61% a year ago.

• Provision for credit losses was $10.8 million, down from $100.6 million in Q1 2025.

Outlook and guidance

• Loan growth guidance for 2026 remains mid to upper single digits, with potential to exceed upper end.

• NIM expected in the 3.75%-3.80% range for 2026, revised lower due to deposit competition.

• Noninterest expense guidance unchanged at roughly 4% growth for the year.

• Management expects continued organic loan growth, stable asset quality, and ongoing focus on deposit growth and cost management.

• Leveraging AI to enhance speed, scale, and productivity across the enterprise.