SouthState (SSB): what its 10-K says it depends on

Customers

Community financial institutions (correspondent banking customers)

earns from · over 1,200

Through the Bank, we operate a correspondent banking and capital markets service division for over 1,200 small and medium sized community financial institutions, credit unions, and money managers throughout the United States.Business (Item 1)

Partners and platforms

Federal Home Loan Bank of Atlanta

depends on

Other sources of liquidity are available to us should they be needed, including our ability to acquire additional non-core deposits, the issuance and sale of debt securities, a secured line of credit we have with U.S. Bank, advances from the Federal Home Loan Bank of Atlanta and the Federal Reserve Discount Window, and the issuance and sale of preferred or common securities in public or private transactions.Risk factors (Item 1A)

Also named by AUB, FNF

U.S. Bank

depends on

Other sources of liquidity are available to us should they be needed, including our ability to acquire additional non-core deposits, the issuance and sale of debt securities, a secured line of credit we have with U.S. Bank, advances from the Federal Home Loan Bank of Atlanta and the Federal Reserve Discount Window, and the issuance and sale of preferred or common securities in public or private transactions.Risk factors (Item 1A)

Other companies

Commercial real estate

concentrated in · $28.0 billion, or 58%, of our loan portfolionamed as a risk

As of December 31, 2025, $28.0 billion, or 58%, of our loan portfolio consisted of loans secured by commercial real estate (including owner occupied and non-owner occupied commercial real estate, other income producing property and construction and land development lending).Business (Item 1)

Also named by AFL, APO, AUB, BAC, C, CFR, FSUN, GBCI and 11 more

Junior subordinated debentures (trust preferred securities)

$171.7 millionnamed as a risk

As of December 31, 2025, we had outstanding trust preferred securities and accompanying junior subordinated debentures totaling $171.7 million, net of fair value adjustments.Risk factors (Item 1A)

Institutional shareholders

approximately 20%named as a risk

Based on their 13F forms filed for the year end December 31, 2025, our shareholders include two funds that collectively own approximately 20% of the outstanding shares of our common stock.Risk factors (Item 1A)

Independent Bank Group, Inc.

named as a risk

We face continued risks related to integration of operations between Independent and the Company.Risk factors (Item 1A)

February 2024 cybersecurity incident class action (Polk County, Florida)

named as a risk

A consolidated putative class action is pending against us in Circuit Court in Polk County Florida related to the incident.Risk factors (Item 1A)

Places

Florida

operates in · 26.07%named as a risk

As of December 31, 2025, approximately 96.98% of our team members are located in the Bank’s eight-state branch footprint of Florida (26.07%), South Carolina (25.54%), Texas (13.79%), Georgia (13.51%), North Carolina (5.89%), Colorado (5.72%), Alabama (4.96%), and Virginia (1.5%).Business (Item 1)

Also named by ABR, ALLY, AN, AXP, AZO, BBY, BJ, BRO and 54 more

Texas

operates in · 13.79%named as a risk

The Company and Independent undertook the Independent Merger Agreement with the expectation that the Independent Merger would result in various synergies including, among other things, benefits relating to enhanced revenues, a strengthened and expanded market position for the combined organization in Texas, entry into the Colorado market, technology efficiencies, cost savings and operating efficiencies.Risk factors (Item 1A)

Also named by ABR, AFRM, ALLY, AN, ASO, ASTS, ATO, AXP and 70 more

Colorado

operates in · 5.72%named as a risk

The Company and Independent undertook the Independent Merger Agreement with the expectation that the Independent Merger would result in various synergies including, among other things, benefits relating to enhanced revenues, a strengthened and expanded market position for the combined organization in Texas, entry into the Colorado market, technology efficiencies, cost savings and operating efficiencies.Risk factors (Item 1A)

Also named by AN, BBSI, BKH, CVX, DMLP, ENSG, FPI, MLM and 4 more

South Carolina

operates in · 25.54%named as a risk

As of December 31, 2025, approximately 96.98% of our team members are located in the Bank’s eight-state branch footprint of Florida (26.07%), South Carolina (25.54%), Texas (13.79%), Georgia (13.51%), North Carolina (5.89%), Colorado (5.72%), Alabama (4.96%), and Virginia (1.5%).Business (Item 1)

Also named by ENPH, ENS, FCNCA, GNRC, IMKTA, PNFP

Georgia

operates in · 13.51%

As of December 31, 2025, approximately 96.98% of our team members are located in the Bank’s eight-state branch footprint of Florida (26.07%), South Carolina (25.54%), Texas (13.79%), Georgia (13.51%), North Carolina (5.89%), Colorado (5.72%), Alabama (4.96%), and Virginia (1.5%).Business (Item 1)

Also named by ABR, ACHR, AXP, BRO, CNC, ELV, IMKTA, MKL and 7 more

Hazards

Hurricanes

concentrated innamed as a risk

A significant portion of our operations is located in coastal areas in the Southeastern United States, regions that are susceptible to hurricanes, or in areas of the Southern U.S. that are susceptible to tornadoes and other severe weather events including severe droughts, floods, and sea level rise.Risk factors (Item 1A)

Also named by AIG, AN, ASO, BAC, BBY, BJ, BPOP, BRO and 89 more

Commodities and inputs

Real estate collateral

concentrated in · approximately 78.5%named as a risk

As of December 31, 2025, approximately 78.5% of such loans had real estate as a primary or secondary component of collateral.Risk factors (Item 1A)

Also named by FSUN, PB, SF

Investment securities portfolio

exposed to its price · $8.7 billionnamed as a risk

As of December 31, 2025, we owned $8.7 billion of investment securities, which included $2.0 billion in held to maturity securities, $6.3 billion in available for sale securities and $353.4 million in other investments.Risk factors (Item 1A)

Also named by FSUN, STT

Brokered and reciprocal deposits (CDARS/ICS)

depends on · approximately $4.0 billion of in-market CDARs and Insured Cash Sweep (“ICS”) reciprocal deposits, $1.9 billion of ICS brokered demand deposits, $1.7 billion in wholesale brokered time depositsnamed as a risk

At December 31, 2025, we had approximately $4.0 billion of in-market CDARs and Insured Cash Sweep (“ICS”) reciprocal deposits, $1.9 billion of ICS brokered demand deposits, $1.7 billion in wholesale brokered time deposits, $83.6 million of other brokered demand deposits, and approximately $45.9 million of deposits related to our prepaid card business, which are considered brokered deposits for regulatory purposes.Risk factors (Item 1A)

Mortgage servicing rights

exposed to its pricenamed as a risk

Additionally, the fair value of our mortgage servicing rights is sensitive to changes in interest rates and interest rate volatility.Risk factors (Item 1A)

Also named by FITB, FSUN, HBAN, JPM, NLY, RKT

Regulators

Consumer Financial Protection Bureau (CFPB)

subject tonamed as a risk

We also are supervised and examined by the Consumer Financial Protection Bureau (“CFPB”) with respect to consumer protection laws and regulations.Business (Item 1)

Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more

Federal Reserve

subject tonamed as a risk

As a financial holding company, we are subject to comprehensive regulation, examination and supervision by the Federal Reserve and are subject to its regulatory reporting requirements.Business (Item 1)

Also named by AGNC, AUB, AXP, BAC, CASH, COF, DX, EFSC and 24 more

Office of the Comptroller of the Currency (OCC)

subject tonamed as a risk

The Bank is a national bank subject to comprehensive regulation, examination and supervision by the OCC and is subject to its regulatory reporting requirements.Business (Item 1)

Also named by ADP, AMP, AXP, BAC, BLK, C, CASH, CFG and 22 more

FINRA

subject to

FINRA is the primary self-regulatory organization for our registered broker-dealer subsidiary.Business (Item 1)

Also named by AJG, ARES, BGC, CBOE, CG, GLXY, JXN, KKR and 7 more

Laws and programs

FDIC special assessment

subject to · approximately $33.5 millionnamed as a risk

The total estimated FDIC special assessment allocable to the Bank is approximately $33.5 million, which includes the special assessment applicable to the deposits assumed from Independent on January 1, 2025 and subject to the special assessment for the period subsequent to the acquisition date.Business (Item 1)

Also named by BPOP, CFG, CFR, CUBI, EFSC, EWBC, FCNCA, GBCI and 10 more

Regulation II (debit interchange fee cap)

subject to · $0.21 plus 5.0 basis pointsnamed as a risk

The proposal has not been finalized and if it were to be finalized as proposed, would likely materially decrease the Bank’s noninterest income.Business (Item 1)

Also named by HBAN, MA, TFC

OCC heightened standards guidelines

subject to · more than $50 billion in assetsnamed as a risk

As a result of Independent Merger into the Company, the Bank grew above $50 billion in assets as of January 1, 2025, and thus would become subject, effective the fourth quarter of 2026, to the OCC’s heightened standards guidelines.Business (Item 1)

Interagency Guidance on Concentrations in Commercial Real Estate Lending

subject to · 271.8%named as a risk

2) total reported loans secured by multifamily and non-farm nonresidential properties and loans for construction, land development, and other land equal 300% or more of total risk-based capital (as of December 31, 2025, our bank ratio was 271.8%).Risk factors (Item 1A)

Community Reinvestment Act

subject tonamed as a risk

We and the Bank must each remain “well-capitalized” and “well-managed”, and the Bank must receive a Community Reinvestment Act (“CRA”) rating of at least “Satisfactory” at its most recent examination in order for us to maintain our status as a financial holding company.Business (Item 1)

Also named by ALLY, AMP, AUB, CFG, CFR, EFSC, EWBC, FCNCA and 20 more

Bank Secrecy Act

subject tonamed as a risk

The Bank is subject to the Bank Secrecy Act and other anti-money laundering statutes and regulations, and any deemed deficiency by the Bank with respect to these laws could result in significant liability and have material impact on our business strategy.Risk factors (Item 1A)

Also named by AUB, BAC, CASH, CPAY, CUBI, EFSC, EWBC, EZPW and 10 more

California climate disclosure laws

subject tonamed as a risk

While the Company has established a corporate stewardship program and a climate risk steering committee and is in the process of determining its Scope 1 and 2 emissions to comply with these laws, these laws will require material investment by the Company to fully implement.Risk factors (Item 1A)

Also named by CFG, GXO, IEX, LNC, POOL, SON

CFPB Section 1033 Open Banking Rule

subject tonamed as a risk

The compliance date for a depository institution data provider that holds at least $10 billion in total assets but less than $250 billion in total assets is April 1, 2027.Business (Item 1)

FDIC Resolution Planning Rule

subject to

As a result, submissions due in October 2026, including those of the Bank, have been deferred, and the Bank anticipates that its submission will be due in 2027, pending finalization of any revisions to the Resolution Planning Rule.Business (Item 1)

Also named by CFR, FITB, PNFP