What SouthState Corporation told the SEC could break it.

SouthState's loans and operations are concentrated in its Southeast U.S. footprint — ~94% of the commercial non-owner-occupied CRE portfolio sits within the footprint (FL, SC, TX, GA, NC, CO, AL, VA), tying credit quality to regional economic conditions.

“As of December 31, 2025, approximately 94% of the commercial non-owner-occupied portfolio was located within the Company's footprint. Of the $16.7 billion, approximately $1.8 billion, or 4% of the total loans, represented our office segment. Approximately 96% of the office segment was located in the Company's footprint.”

SouthState's Southeast markets are exposed to hurricanes and severe weather; rising property & casualty insurance premiums on customers' properties may depress real estate sales and values, and natural disasters could damage collateral and local economies.

“In addition, many of our customers have incurred, or may in the future incur, significantly higher property and casualty insurance premiums on their properties located in our markets, which may adversely affect real estate sales and values in those markets.”

SouthState experienced a cybersecurity incident in February 2024; in 2025 it received an ~$3.6 million insurance reimbursement for costs previously incurred in connection with that incident.

“The reimbursement pertains to costs previously incurred in connection with the cybersecurity incident in February 2024.”