SCHEDULE: BlackRock Amends SouthState Corp Stake, Reports 8.8% Beneficial Ownership

BlackRock, Inc. has filed an Amendment No. 18 to its Schedule 13G, disclosing a beneficial ownership of 8.8% of SouthState Corp's Common Stock as of June 30, 2025.

Summary

• BlackRock, Inc. filed an Amendment No. 18 to Schedule 13G concerning its beneficial ownership in SOUTHSTATE CORP.
• As of June 30, 2025, BlackRock, Inc. beneficially owns 8,953,084 shares of SOUTHSTATE CORP Common Stock.
• This ownership represents 8.8% of the total outstanding class of securities.
• BlackRock, Inc. holds sole voting power over 8,666,901 shares and sole dispositive power over 8,953,084 shares.
• No shared voting or dispositive power is reported.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• BlackRock Fund Advisors, a subsidiary of BlackRock, Inc., is identified as beneficially owning 5% or greater of the outstanding shares.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing disclosing beneficial ownership, providing factual information without expressing positive or negative sentiment regarding the issuer's performance or outlook.

Positives

• A major institutional investor, BlackRock, Inc., maintains a significant stake of 8.8% in SouthState Corp, indicating continued investment.
• The holding is stated to be in the ordinary course of business and not for control purposes, suggesting a passive investment strategy.

Risks

• The filing explicitly states that the securities were not acquired or held for the purpose of or with the effect of changing or influencing the control of the issuer, mitigating potential governance risks from a large shareholder.

Future Outlook

No forward-looking statements or guidance are provided in this beneficial ownership report.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

This filing is a routine disclosure by a major asset manager, BlackRock, regarding its passive investment in a regional bank, SouthState Corp. Such filings are common for large institutional investors holding significant stakes in publicly traded companies across various industries, including financial services.

Comparison to Industry Standards

• BlackRock's 8.8% stake in SouthState Corp represents a substantial passive investment, which is typical for large asset managers like BlackRock who often hold significant, non-controlling positions across a broad portfolio of companies.
• This level of ownership is consistent with the investment strategies of major index funds and ETFs managed by BlackRock, which aim to mirror market indices rather than exert corporate control.
• Comparable institutional holdings in regional banks often see similar percentage stakes from large asset managers such as Vanguard, State Street, or Fidelity, reflecting their broad market exposure.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, confirming BlackRock's continued investment.
• Management: Confirms that BlackRock's holding is passive and not intended to influence control.

Next Steps

• BlackRock, Inc. will continue to file amendments to Schedule 13G as required by changes in beneficial ownership or other triggering events.

Key Dates

Keywords

BlackRock, SouthState Corp, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Financial Services, Banking