SouthState Bank (SSB) Q2 2026 earnings summary

Executive summary

• Achieved net income of $230M for Q2 2026, with diluted EPS of $2.35, up 11% year-over-year and 2% on an adjusted basis.

• ROA reached 1.36% and ROTCE 17.6%, reflecting consistent high performance.

• Tangible book value per share rose 13% year-over-year to $58.72, with nearly 5% of shares repurchased over the past year.

• Loans grew by $1.4B (11% annualized) from the prior quarter and $3.6B (8%) year-over-year; deposits up $474M (3% annualized) from Q1 and 5% year-over-year.

• Asset quality improved, with non-accruals declining and net charge-offs at 0.06% of average loans.

Financial highlights

• Net interest margin (NIM) was 3.78%, down 1 bp from Q1 and from 4.02% in 2Q25, within 3.75%-3.80% guidance.

• Net interest income reached $576M, up $14M from Q1; non-interest income was $97M, within guidance.

• Noninterest expense decreased by $2M to $358M, driven by lower OREO and loan-related costs.

• Efficiency ratio improved to 50% from 53% in 2Q25 and from the prior quarter.

• EPS (excluding accretion income and CDI amortization) up 13% year-over-year.

Outlook and guidance

• NIM expected to remain stable in the 3.75%-3.80% range through 2027, assuming flat rates.

• Loan growth guided to mid-to-high single digits, with potential to reach the higher end.

• Deposit growth expected to track loan growth, with seasonality leading to higher growth in the latter part of the year.

• Non-interest income guidance remains at 55-60 bps of average assets; expense growth guidance held at 4% for 2026.

• Capital return guidance maintained at 40%-60% payout ratio.