South State Corporation (SSB) financial statements (2021 and earlier)

Company profile

Business Address 1101 FIRST STREET SOUTH, SUITE 202
WINTER HAVEN, FL 33880
State of Incorp. SC
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,027 376378374696
Cash and cash equivalents1,027 376378374696
Total current assets:1,027 376378374696
Noncurrent Assets
Operating lease, right-of-use asset113 
Property, plant and equipment  241256184175
Intangible assets, net (including goodwill)1,727 1,0661,073378386
Goodwill1,564 1,0031,000338338
Intangible assets, net (excluding goodwill)163 63744047
Derivative instruments and hedges814     
Deferred income tax assets111 
Amortization method qualified affordable housing project investments106 443727 
Total noncurrent assets:2,870 1,3511,366588560
Other undisclosed assets33,893 12,94912,7237,9387,301
TOTAL ASSETS:37,790 14,67614,4678,9018,557
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt395 150100  
Total current liabilities:395 150100  
Noncurrent Liabilities
Long-term debt and lease obligation    5555
Long-term debt, excluding current maturities    5555
Total noncurrent liabilities:    5555
Other undisclosed liabilities32,747 12,16012,0587,7117,443
Total liabilities:33,142 12,31012,1587,7667,498
Stockholders' equity
Stockholders' equity attributable to parent4,648 2,3662,3091,1351,059
Common stock177 90926160
Additional paid in capital3,765 1,7501,808711704
Accumulated other comprehensive income (loss)48 (25)(10)(8)(4)
Retained earnings657 551420371299
Total stockholders' equity:4,648 2,3662,3091,1351,059
TOTAL LIABILITIES AND EQUITY:37,790 14,67614,4678,9018,557

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues910 567559456454
Net investment income910 567426333338
Financial services revenue133123116
Cost of revenue(90) (14)(12)(7)(6)
Provision for loan, lease, and other losses(90) (14)
Financial services costs(12)(7)(6)
Gross profit:820 553547450449
Operating expenses(279) (130)(267)(225)(58)
Operating income:541 423281224391
Nonoperating income
(Investment Income, Nonoperating)
   10 
Interest and debt expense(84) (54)(17)(8)(10)
Other undisclosed loss from continuing operations before equity method investments, income taxes     (230)
Income from continuing operations before equity method investments, income taxes:458 369265216150
Other undisclosed loss from continuing operations before income taxes(354) (145)(96)(62) 
Income from continuing operations before income taxes:104 224169154150
Income tax expense (benefit)17 (45)(81)(53)(51)
Net income available to common stockholders, diluted:121 1798810199

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:121 1798810199
Other comprehensive income (loss)47 (12)(2)(4)(3)
Comprehensive income, net of tax, attributable to parent:167 167859796

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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