SouthState Corp

Our corporate headquarters are located in a branch located at 1101 First Street South, Suite 202, Winter Haven, Florida 33880. As of December 31, 2024, our bank owns 204 properties and leases 107 properties, most of which are used as branch locations, mortgage loan production offices, wealth management offices or for housing operational units in Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia. We also operate a correspondent banking and capital markets division within our national bank subsidiary, of which the majority of its bond salesmen, traders and operational personnel are housed in facilities located in Georgia, Tennessee, and Alabama. In addition, we lease some space in California, Colorado, Montana, New York and Texas related to the correspondent banking and capital markets division, and occupy a space in Tennessee related to SouthState|DuncanWilliams. Although the properties owned and leased are generally considered adequate, we have a continuing program of modernization, expansion, and when necessary, occasional replacement of facilities. For additional information relating to the Company’s premises, equipment and lease commitments, see accompanying Note 6—Premises and Equipment, Note 19—Leases and Note 30 – Subsequent Events to our audited consolidated financial statements.

On January 1, 2025, the Company acquired all of the outstanding common stock of Independent Bank Group, Inc. (“Independent”), a Texas corporation, in a stock transaction. Upon the closing of the merger, the Company acquired Independent’s 92 branch locations, which are located in Texas and Colorado.

In addition, on January 8, 2025, the Bank entered into an agreement for the purchase and sale of real property with entities affiliated with Blue Owl Real Estate Capital LLC, providing for the sale to entities affiliated with Blue Owl of certain bank branch properties owned and operated by the Bank. The branch properties are located in Alabama, Florida, Georgia, North Carolina, South Carolina and Virginia. Under the sale agreement, the Bank has agreed, concurrently with the closing of the sale of the branches, to enter into triple net lease agreements with entities affiliated with Blue Owl, pursuant to which the Bank will lease each of the branches. The Company expects the sale-leaseback transaction to close in the first quarter of 2025 and is subject to Blue Owl performing satisfactory due diligence on the branches.

For additional information relating to the Company’s acquisition of Independent and the sale-leaseback agreement with entities affiliated with Blue Owl, see accompanying with Note 30 – Subsequent Events to our audited consolidated financial statements.