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South State

OverviewSuggest Edit

South State Corporation operates as the bank holding company for South State Bank that provides a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. It accepts demand deposits, savings deposits, interest-bearing demand deposits, certificates of deposit and other time deposits, as well as offers lending and credit card, ATM processing, and wealth management and trust services. The Company also provides investment advisory and broker dealer services.

TypePublic
Founded1934
HQColumbia, SC, USMap
Websitesouthstatebank.com
Employee Ratings3.8More
Overall CultureC+More
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Latest Updates

Employees (est.) (Dec 2019)2,547(-2%)
Revenue (FY, 2020)$1.5 B(+951%)
Share Price (Mar 2021)$81.2 (+3%)
Cybersecurity ratingAMore

Key People/Management at South State

Ann S. Gluse

Ann S. Gluse

Director of Fiduciary Services
Brian A. Barker

Brian A. Barker

Chief Investment Officer
George S. King

George S. King

President – South State Wealth
Lisa S. Dehaven

Lisa S. Dehaven

Director of Operations
Raymond Hrin

Raymond Hrin

Director of Risk and Regulatory Compliance
Tim B. Sease

Tim B. Sease

Managing Director of Investment Services
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South State Office Locations

South State has an office in Columbia
Columbia, SC, US (HQ)
520 Gervais St
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South State Financials and Metrics

South State Revenue

South State's revenue was reported to be $1.51 b in FY, 2020
USD

Revenue (FY, 2020)

1.5b

Net income (FY, 2020)

120.6m

Market capitalization (1-Mar-2021)

5.8b

Closing stock price (1-Mar-2021)

81.2

Cash (31-Dec-2020)

363.3m
South State's current market capitalization is $5.8 b.
Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

55.1m41.3m53.8m94.7m443.3m130.3m690.7m145.7m143.6m1.5b

Revenue growth, %

19%(1%)(1%)

Sales and marketing expense

2.7m2.7m3.9m4.2m3.8m3.1m4.0m4.2m4.3m4.1m

R&D expense

11.1m14.3m15.8m17.8m20.5m25.5m34.3m35.5m59.8m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Revenue

8.8m20.8m9.5m11.7m9.2m9.5m8.5m15.3m20.7m24.4m24.5m26.5m30.1m29.8m30.0m32.1m35.3m36.4m37.6m36.0m43.5m37.5m32.0m32.1m37.6m37.6m44.1m415.0m114.8m

Sales and marketing expense

289.0k824.0k757.0k553.0k736.0k842.0k648.0k1.2m1.1m1.1m837.0k888.0k1.0m1.1m645.0k858.0k790.0k559.0k989.0k852.0k736.0k1.2m1.0m807.0k959.0k1.1m814.0k531.0k1.2m

R&D expense

2.5m2.9m2.5m2.9m2.7m3.2m3.0m3.8m4.2m4.3m3.4m4.0m4.4m4.7m5.0m5.1m5.2m6.4m6.4m6.0m9.7m8.9m7.8m9.0m8.7m8.9m9.3m12.2m18.9m

Operating expense total

6.9m7.8m7.7m7.9m8.0m8.5m8.2m12.1m11.4m11.5m9.7m9.9m11.2m10.9m10.6m13.0m10.8m12.7m13.4m12.1m16.8m17.4m15.5m17.8m17.5m17.0m20.2m24.5m35.8m
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Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Cash

171.4m380.7m479.5m417.9m695.8m374.4m377.6m251.4m262.0m363.3m

Accounts Receivable

36.2m10.6b11.0b11.3b24.2b

Inventories

PP&E

94.3m115.6m188.1m171.8m174.5m183.5m255.6m241.1m317.3m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Cash

249.1m158.8m403.2m309.9m278.1m495.9m436.5m645.2m612.6m589.5m503.0m630.7m593.4m889.4m697.3m481.9m507.5m663.1m431.9m403.9m644.5m396.8m234.0m225.9m251.6m258.4m259.8m380.7m344.4m

Accounts Receivable

6.5b7.9b8.1b8.2b10.6b10.8b10.9b11.1b11.2b11.2b11.4b25.1b24.8b

PP&E

90.5m90.0m93.2m106.5m105.6m110.8m109.8m185.0m187.1m184.1m173.4m171.6m171.6m174.7m176.4m178.0m179.5m203.5m201.5m198.1m253.6m245.3m241.9m322.6m321.3m323.5m312.2m627.9m

Goodwill

319.2m338.3m338.3m338.3m595.7m595.8m597.2m999.6m1.0b1.0b1.0b1.0b1.0b1.0b1.6b
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Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Net Income

22.6m30.0m49.2m75.4m99.5m101.3m87.6m178.9m186.5m120.6m

Depreciation and Amortization

10.8m12.1m17.5m21.2m21.5m27.0m35.6m43.3m7.3m22.2m

Cash From Operating Activities

150.6m118.4m149.5m118.6m186.9m138.0m197.9m283.7m181.0m536.9m

Purchases of PP&E

(19.5m)(8.4m)(13.8m)(16.1m)(15.2m)(25.8m)(15.2m)(14.5m)(15.8m)(16.9m)
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Net Income

7.4m17.8m7.0m15.1m24.1m10.6m23.2m35.2m16.9m34.9m54.2m23.9m48.8m73.9m24.5m49.0m77.1m18.3m50.1m85.1m42.3m82.8m129.9m44.4m85.8m137.4m24.1m(60.8m)34.4m

Depreciation and Amortization

5.1m7.8m2.8m5.9m9.0m3.5m6.9m11.8m5.4m10.5m15.8m5.4m10.5m15.7m5.1m10.6m16.0m8.8m17.4m26.1m10.9m21.9m32.6m10.2m3.3m5.3m2.1m5.5m13.3m

Cash From Operating Activities

50.6m112.1m40.3m66.2m36.2m22.4m45.3m99.0m12.8m63.9m94.7m17.2m71.5m149.9m46.9m72.9m112.5m41.3m75.2m147.9m105.7m160.2m223.8m37.5m100.3m129.0m41.1m69.9m356.1m

Purchases of PP&E

(7.9m)(12.9m)(2.1m)(5.3m)(11.5m)(2.9m)(4.9m)(7.3m)(5.4m)(10.2m)(13.3m)(3.3m)(7.4m)(11.7m)(5.8m)(12.4m)(18.3m)(4.2m)(6.1m)(9.1m)(3.6m)(7.3m)(9.5m)(3.4m)(8.1m)(11.5m)(2.2m)(9.1m)(13.0m)
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USDQ2, 2011

Financial Leverage

10.3 x
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South State Operating Metrics

South State's Total Loans was reported to be $8.2b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Non-performing Loans

$28.52 m$27.57 m$24.66 m$23.87 m$18.75 m$19.24 m$18.37 m$15.01 m$14.75 m$13.04 m$13.50 m

Total Loans

$5.70 b$5.70 b$5.79 b$5.88 b$6 b$6.17 b$6.42 b$6.53 b$6.60 b$7.91 b$8.18 b
Show all operating metrics

South State Cybersecurity Score

Cybersecurity ratingPremium dataset

A

95/100

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South State Online and Social Media Presence

South State's Trends

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South State Company Culture

  • Overall Culture

    C+

    69/100

  • CEO Rating

    B

    73/100

  • Compensation

    D-

    49/100

Learn more on Comparably

South State News and Updates

October 22, 2020

LPL Financial Welcomes Eight Advisors after CenterState Bank, South State Bank Merger

CHARLOTTE, N.C., Oct. 22, 2020 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA), a leading retail investment advisory firm, independent broker-dealer and registered investment advisor (RIA) custodian, today announced that the wealth management program at CenterState Bank has joined LPL’s Instit…
January 27, 2020

CenterState Bank and South State to merge in deal with market value of $6 billion

CenterState Bank Corp. and South State Corp. said Monday they have agreed to combine in an all-stock deal with a market value of about $6 billion. Under the terms of the deal, CenterState shareholders will receive 0.3001 shares of South State for each share owned. CenterState shareholders will own…
January 09, 2020

South State Bank Names State & Regional Presidents, Adds Commercial & Treasury Talent

Jan. 9, 2020) South State Bank today announced presidents of North Carolina and Virginia, in addition to two regional presidents. The bank continues to build its Commercial and Treasury teams with the addition of six seasoned bankers.read more
July 29, 2019

Crystal Farrow Joins South State Private Banking Team

Our private bankers offer personal banking, business banking, mortgage solutions and wealth management solutions,” said Jay Forrester, division president.read more
April 24, 2018

South State Corporation 2018 Q1 - Results - Earnings Call Slides

 South State Frequently Asked Questions

  • When was South State founded?

    South State was founded in 1934.

  • Who are South State key executives?

    South State's key executives are Ann S. Gluse, Brian A. Barker and George S. King.

  • How many employees does South State have?

    South State has 2,547 employees.

  • What is South State revenue?

    Latest South State annual revenue is $1.5 b.

  • What is South State revenue per employee?

    Latest South State revenue per employee is $592.2 k.

  • Who are South State competitors?

    Competitors of South State include Merrill Lynch, Sberbank and Colony Bankcorp.

  • Where is South State headquarters?

    South State headquarters is located at 520 Gervais St, Columbia.

  • Where are South State offices?

    South State has an office in Columbia.

  • How many offices does South State have?

    South State has 1 office.