South State - M&A Summary and Business Overview

Financial ServicesCompany

South State M&A Summary

South State has acquired 3 companies, including 2 in the last 5 years.

South State’s largest acquisition to date was in 2024, when it acquired Independent Bank Group for $2.0B. South State has acquired in 3 different US states. The Company’s most targeted sectors include financial services (100%).

South State Business Overview

Where is South State headquartered?

South State is headquartered in Winter Haven, Florida.

What is South State’s revenue?

South State disclosed revenue of 1,701M USD for 2023 and 1,613M USD for 2022.

How many employees does South State have?

South State has 5,179 employees.

What sector is South State in?

South State is a financial services company.

When was South State founded?

South State was founded in 1933.

M&A Summary

  • M&A Total Activity3
    • M&A Buy Activity3
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Advisors 2

South State

South State Corp.

1101 First Street South, Suite 202,
Winter Haven, Florida 33880
United States,
(863) 293-4710
www.southstatebank.com

South State is a holding company of South State Bank, and serves the financial needs of its local communities in 25 South Carolina counties, 15 Georgia counties and 4 North Carolina counties. South State was founded in 1933 and is based in Winter Haven, Florida.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 1 1 - - - 1 3
vol $2.0B $2.0B
Sell (0.0/yr) # - - - - - - 0
  3

Most Recent M&A

Company Date Value Type
Independent Bank Group, Inc. 2024-05-20 2.0B USD Add-on Acquisition
McKinney, Texas · www.independent-bank.com
CenterState Bank Corp. 2020-06-10 - Merger
Winter Haven, Florida · www.centerstatebank.com
Park Sterling Corp. 2017-11-15 - Merger
Charlotte, North Carolina · www.parksterlingbank.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 3 (100%) 2.0B (100%) - -
Total 3 $2.0B - -

By Geo

State/Country Buy Value Sell Value
United States 3 2.0B - -
  Texas 1 2.0B - -
  North Carolina 1 - - -
  Florida 1 - - -
Total 3 $2.0B - -

Top M&A Advisors

Financial Deals
Raymond James - Investment Banking
 1
Legal Deals
Davis Polk & Wardwell
 1

Deal Values

buy # Total
> $1B 1 $2.0B
TOTAL $2.0B
Largest Independent Bank Group, Inc.
$2.0B (2024-05-20)

Company Summary

SECTOR

Financial Services

Revenue

1,701   6% 2023
1,613   19% 2022
1,365   22% 2021
1,126   76% 2020
643   2% 2019
655   21% 2018
544   22% 2017
447   2016
(millions of USD) Show More Show Less

Employees

5,179

Established

1933

Public

NASDAQ: SSB

Former Name

First Financial Holdings, Inc.

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