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South State Corp
South State Corp

-5.59%

Financial services / Banking and Financial Services

At a Glance | Core Facts | Company Due Diligence | Industry Due Diligence | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview
SouthState Corporation is a financial holding company headquartered in Columbia, South Carolina. It was founded in 1933 and has grown through multiple acquisitions to become one of the largest banks in the Southeastern United States.
The company operates under the brand names South State Bank and CenterState Bank and offers a wide range of financial services, including checking and savings accounts, loans, mortgages, credit cards, investment and wealth management, and insurance products. It serves both individual and business customers, with a focus on community banking and personalized service.
SouthState Corporation has over 200 branch locations and approximately 3,000 employees throughout North Carolina, South Carolina, Georgia, and Florida. The bank is committed to serving its local communities through charitable donations and volunteer efforts.
In addition to its banking services, SouthState Corporation also offers online and mobile banking options for customers to manage their accounts and conduct transactions remotely. The company has received recognition for its financial strength and has been included in Forbes' list of America's Best Banks and Fortune's list of the 100 Fastest-Growing Companies.
What is special about the company?
There are several things that may be considered special about the SouthState Corporation company:
1. Strong Regional Presence: SouthState Corporation is a leading bank holding company in the Southeastern United States with a strong regional presence. It operates in Florida, Georgia, Alabama, North Carolina, and South Carolina, serving millions of customers.
2. Long History: The company has a long history dating back to 1909 when the Bank of South Carolina was founded. It has gone through several mergers and acquisitions to become the successful corporation it is today.
3. Diversified Financial Services: SouthState Corporation offers a wide range of financial services including personal and business banking, wealth management, and insurance. This diversified approach allows the company to meet the various needs of its customers.
4. Commitment to Community: The company has a strong commitment to its local communities and actively participates in community events and charities. It also has a dedicated Community Reinvestment Act team that works to promote lending and investment in low- to moderate-income areas.
5. Stable and Profitable: SouthState Corporation is a stable and profitable company, consistently delivering strong financial results and shareholder value. This can be attributed to its sound management, strategic growth initiatives, and operational efficiencies.
6. Customer Service: The company has a strong focus on customer service, aiming to build long-term relationships with its customers. It has received numerous awards and recognition for its customer service, including being named as one of Forbes’ 2019 Best Banks in America.
7. Corporate Culture: SouthState Corporation prides itself on its strong corporate culture, where employees are valued and encouraged to contribute to the company's success. The company has been recognized as one of the Best Places to Work by the Charlotte Business Journal.
What the company's business model?
SouthState Corporation is a bank holding company and its business model revolves around providing financial products and services to individuals, businesses, and organizations. Its services include deposit accounts, loans, credit cards, wealth management, insurance, and trust services. The company generates revenue through interest income from loans and investments, as well as fees and commissions from its various financial services. SouthState Corporation operates through its subsidiaries, SouthState Bank, SouthState Wealth, and SouthState Insurance Services, and serves customers in various states across the Southeastern United States. Its goal is to be a trusted financial partner for its customers and create long-term value for its shareholders through responsible and sustainable growth.
Interesting facts about the company
1. SouthState Corporation, formerly known as ’BankSouth’, was founded in 1933 in Sumter, South Carolina.
2. The company operates as a bank holding company and provides a wide range of financial services, including traditional banking, investment and mortgage services, and insurance products.
3. The corporation has over 270 branches and approximately 650 ATMs across the Southeastern United States.
4. SouthState Corporation has been listed on the NASDAQ stock exchange since 1983 and is a component of the S&P 400 index.
5. The company has a history of acquisitions and mergers, with some notable ones being the merger with Southeastern Bank Financial Corporation in 1995 and Carolina First Corporation in 2008.
6. In 2019, SouthState Corporation announced a rebranding and name change, becoming the first company in its industry to adopt the .bank domain extension for its website.
7. The corporation has received numerous awards and recognition for its financial performance, customer service, and community involvement, including being named as one of the World’s Most Ethical Companies by Ethisphere Institute for six consecutive years.
8. SouthState Corporation is committed to environmental sustainability and has implemented various initiatives to reduce its carbon footprint, including installing solar panels on some of its branches and offices.
9. The corporation is a strong supporter of education and has a long-standing partnership with Teach For America, a non-profit organization that aims to provide quality education to disadvantaged students.
10. SouthState Corporation is deeply involved in the communities it serves and encourages its employees to volunteer for local organizations. In 2020, the company’s employees volunteered over 14,000 hours and raised over $700,000 for various charitable causes.
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