Who Owns South State Company?

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Who Owns SouthState Corporation?

Understanding SouthState Corporation's ownership is key to grasping its strategy and influence. A major step was its 2020 merger with CenterState Bank Corporation, creating a strong regional player. This was further bolstered by the January 2025 acquisition of Independent Bank Group, Inc., boosting total assets to around $65 billion.

SouthState Corporation, a financial services firm based in Winter Haven, Florida, has a history dating back to 1934. Its growth has been marked by strategic mergers and acquisitions, significantly expanding its reach and asset base. For a deeper dive into its market positioning, consider a South State PESTEL Analysis.

As of August 2025, SouthState Corporation holds a market capitalization of approximately $9.69 billion. It serves over 1.5 million customers across seven states, offering a wide array of financial solutions.

The origins of South State Company trace back to the founding of First National Bank in Orangeburg, South Carolina, in 1934. While specific details regarding the initial founders and their equity stakes are not extensively documented, this institution formed the foundation for the company's subsequent evolution. The bank operated under various names, including First National Corp and SCBT Financial Corp, reflecting its growth and transformations over the years.

Early Ownership Landscape

In its formative years, regional banks like this one typically saw ownership concentrated among local community leaders and business figures. This ownership structure often mirrored a commitment to fostering local economic development and providing community support.

Growth Through Expansion

Throughout its early decades, the bank experienced growth primarily through organic expansion and the acquisition of smaller entities. These strategic moves were instrumental in building the foundation for the more significant consolidations that would later shape its ownership structure.

Community Focus

The early ownership model was deeply intertwined with the community it served. This approach emphasized local investment and a dedication to the economic well-being of the region, a characteristic common among financial institutions of that era.

Foundation for Future Growth

The gradual expansion and strategic acquisitions during its initial decades laid the essential groundwork for the company's future growth trajectory. This period was crucial in establishing the operational and financial base for subsequent transformations.

Evolution of Corporate Identity

The name changes from First National Bank to First National Corp and then to SCBT Financial Corp signify key milestones in the company's development. These transitions reflect its evolving business scope and market presence over time.

Early Business Strategy

The early business strategy was characterized by a focus on building a strong regional presence. This involved both expanding services organically and strategically acquiring smaller institutions to enhance market share and operational capabilities.

The foundational years of South State Company were marked by a commitment to local economic development, with ownership structures reflecting this community-centric approach. The bank's early growth was a testament to its strategic expansion, both organically and through acquisitions, setting the stage for its future corporate evolution and Growth Strategy of South State.

Understanding Early Ownership

While precise details on the initial equity distribution among founders of First National Bank are not readily available, the prevailing ownership models for regional banks in that era emphasized local stakeholder involvement. This typically included prominent community members and business leaders.

• Ownership was often localized, with a focus on community development.
• Founders were typically influential figures within the local business landscape.
• Early expansion was driven by organic growth and smaller acquisitions.
• The company underwent several name changes, indicating periods of strategic evolution.

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The ownership structure of SouthState Corporation has seen significant shifts, notably through strategic mergers. A pivotal event was the June 7, 2020, all-stock merger with CenterState Bank Corporation, valued at approximately $6 billion, which saw CenterState shareholders gain a majority stake of 53% in the combined entity. Further expansion occurred with the acquisition of Independent Bank Group, Inc. on January 1, 2025.

Institutional investors are the dominant owners of SouthState Corporation, holding nearly 89% of the company's shares as of June 2025. This significant institutional presence, including major holders like BlackRock, Inc. with a 12% stake, alongside Vanguard Group Inc., State Street Corp, Dimensional Fund Advisors LP, and T. Rowe Price Investment Management Inc., profoundly influences the company's strategic direction and governance. Insiders hold a modest 0.65%, while individual investors comprise the remaining 11%. The concentration of ownership among a collective of 11 investors, who collectively own 51% of the company, underscores the impact of these large stakeholders on corporate decisions and performance.

Understanding South State Company Ownership

The ownership landscape of SouthState Corporation is primarily shaped by institutional investors, reflecting a trend towards concentrated holdings by large financial entities. These stakeholders play a crucial role in the company's governance and strategic planning.

• Institutional investors hold the vast majority of SouthState Company ownership.
• BlackRock, Inc. is a significant shareholder, owning 12% of the company.
• The acquisition of Independent Bank Group, Inc. in January 2025 expanded the company's reach.
• A group of 11 investors collectively controls 51% of the company's shares.
• Understanding who owns South State Bank is key to grasping its corporate strategy.

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The Board of Directors at SouthState Corporation is instrumental in guiding the company's strategic direction and ensuring robust governance. As of April 23, 2025, the board comprises key figures including CEO John C. Corbett and Independent Chairman Douglas Hertz, alongside other independent directors such as G. Ruffner Page Jr. and James Roquemore.

SouthState Corporation's voting power is structured around its common stock, where shareholders of record as of February 24, 2025, were eligible to vote at the annual meeting on April 23, 2025. The company's governance framework emphasizes a majority independent board, with all key committees—Audit, Compensation, Governance and Nominating, and Risk—composed entirely of independent directors. While specific details on dual-class shares are not publicly detailed, the company's reliance on institutional investors and proxy solicitations suggests a standard one-share-one-vote system for its common stock. This structure aligns with the company's commitment to strong corporate governance, including stock ownership requirements for directors and executive officers to ensure their interests are aligned with those of the South State Bank shareholders.

Board Oversight and Shareholder Alignment

The South State Bank board of directors is committed to effective oversight and aligning management's interests with those of its shareholders.

• Annual election of directors ensures accountability.
• Majority independent board composition enhances objective decision-making.
• Independent committees oversee critical functions like audit and compensation.
• Stock ownership requirements for directors and executives promote alignment with South State Company ownership.

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South State Corporation has seen significant shifts in its ownership structure over the past three to five years, largely influenced by strategic acquisitions and capital return strategies. The company's commitment to growth and shareholder value is reflected in recent developments that continue to shape who owns South State Bank.

Institutional investors represent a substantial portion of South State Bank shareholders, holding approximately 88% to 89.76% of the company's stock. This trend of increasing institutional ownership is a notable characteristic of the current South State Company ownership landscape. The company's financial performance in 2024 and the second quarter of 2025, with net income reported at $144 million and $215 million respectively, underscores its stability and growth potential, which often attracts larger institutional investment. Analyst projections indicate continued robust growth, with earnings expected to rise by 24.5% and revenue by 13% annually, further solidifying its appeal to major investors. This growth trajectory, coupled with a strategy focused on expanding in fast-growing markets, suggests that the ownership structure of South State Bank may continue to evolve through future strategic moves.

Institutional Dominance

Institutions hold a significant majority of South State Bank stock, ranging from 88% to 89.76%. This concentration indicates strong confidence from large investment firms.

Strategic Growth and Ownership

The recent acquisition and ongoing expansion strategy are key drivers in shaping South State Company ownership. These moves aim to build scale in dynamic markets.

Financial Performance and Investor Appeal

Strong financial results, including a net profit of $215 million in Q2 2025, enhance the company's attractiveness to investors. This performance supports the current South State Bank shareholders.

Future Outlook and Ownership Trends

With projected annual earnings growth of 24.5%, South State Corporation is poised for continued investor interest. Understanding the Target Market of South State is crucial for anticipating future ownership shifts.

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