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Regulatory Matters | 12 Months Ended
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Dec. 31, 2019
Regulatory Matters |
Regulatory Matters | Note 25—Regulatory Matters The Company is subject to regulations with respect to certain risk-based capital ratios. These risk-based capital ratios measure the relationship of capital to a combination of balance sheet and off-balance sheet risks. The values of both balance sheet and off-balance sheet items are adjusted based on the rules to reflect categorical credit risk. In addition to the risk-based capital ratios, the regulatory agencies have also established a leverage ratio for assessing capital adequacy. The leverage ratio is equal to Tier 1 capital divided by total consolidated on-balance sheet assets (minus amounts deducted from Tier 1 capital). The leverage ratio does not involve assigning risk weights to assets. ​ In July 2013, the Federal Reserve announced its approval of a final rule to implement the regulatory capital reforms developed by the Basel Committee on Banking Supervision (“Basel III”), among other changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new rules became effective January 1, 2015, subject to a phase-in period for certain aspects of the new rules. As applied to the Company and the Bank, the new rules include a new minimum ratio of common equity Tier 1 capital ("CET1") to risk-weighted assets of 4.5%. The new rules also raise the minimum required ratio of Tier 1 capital to risk-weighted assets from 4% to 6%. The minimum required leverage ratio under the new rules is 4%. The minimum required total capital to risk-weighted assets ratio remains at 8% under the new rules. ​ In order to avoid restrictions on capital distributions and discretionary bonus payments to executives, under the new rules a covered banking organization is also required to maintain a “capital conservation buffer” in addition to its minimum risk-based capital requirements. This buffer is required to consist solely of common equity Tier 1, and the buffer will apply to all three risk-based measurements (CET1, Tier 1 capital and total capital). The capital conservation buffer was phased in incrementally over time, beginning January 1, 2016 and became fully effective on January 1, 2019, and ultimately consists of an additional amount of Tier 1 common equity equal to 2.5% of risk-weighted assets. ​ The Bank is also subject to the regulatory framework for prompt corrective action, which identifies five capital categories for insured depository institutions (well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized) and is based on specified thresholds for each of the three risk-based regulatory capital ratios (CET1, Tier 1 capital and total capital) and for the leverage ratio. ​ The following table presents actual and required capital ratios as of December 31, 2019 for the Company and the Bank under the Basel III capital rules. The minimum required capital amounts presented include the minimum required capital levels based on the phase-in provisions of the Basel III Capital Rules and the minimum required capital levels as of January 1, 2019 when the Basel III Capital Rules have been fully phased-in. Capital levels required for the Bank to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Minimum Capital | ​ | Minimum Capital |  | Required to be |
​ | ​ | ​ | ​ | ​ | ​ | ​ | Required - Basel III | ​ | Required - Basel III |  | Considered Well |
​ | ​ | Actual | ​ | Phase-In Schedule | ​ | Fully Phased In | ​ | Capitalized | ​
(Dollars in thousands) |  | Amount |  | Ratio |  | Capital Amount |  | Ratio |  | Capital Amount |  | Ratio |  | Capital Amount |  | Ratio |
December 31, 2019 | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​
Common equity Tier 1 to risk-weighted assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated | ​ | $ | 1,326,725 |  | 11.30 | % | $ | 822,225 |  | 7.00 | % | $ | 822,225 | ​ | 7.00 | % | $ | 763,495 |  | 6.50 | %
South State Bank (the Bank) | ​ |  | 1,417,616 |  | 12.07 | % |  | 822,218 |  | 7.00 | % |  | 822,218 | ​ | 7.00 | % |  | 763,488 |  | 6.50 | %
Tier 1 capital to risk-weighted assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated | ​ |  | 1,438,995 |  | 12.25 | % |  | 998,416 |  | 8.50 | % |  | 998,416 | ​ | 8.50 | % |  | 939,686 |  | 8.00 | %
South State Bank (the Bank) | ​ |  | 1,417,616 |  | 12.07 | % |  | 998,407 |  | 8.50 | % |  | 998,407 | ​ | 8.50 | % |  | 939,677 |  | 8.00 | %
Total capital to risk-weighted assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated | ​ |  | 1,501,321 |  | 12.78 | % |  | 1,233,338 |  | 10.50 | % |  | 1,233,338 | ​ | 10.50 | % |  | 1,174,607 |  | 10.00 | %
South State Bank (the Bank) | ​ |  | 1,479,942 |  | 12.60 | % |  | 1,233,327 |  | 10.50 | % |  | 1,233,327 | ​ | 10.50 | % |  | 1,174,597 |  | 10.00 | %
Tier 1 capital to average assets (leverage ratio): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated | ​ |  | 1,438,995 |  | 9.73 | % |  | 591,731 |  | 4.00 | % |  | 591,731 | ​ | 4.00 | % |  | 739,664 |  | 5.00 | %
South State Bank (the Bank) | ​ |  | 1,417,616 |  | 9.59 | % |  | 591,592 |  | 4.00 | % |  | 591,592 | ​ | 4.00 | % |  | 739,490 |  | 5.00 | %
December 31, 2018: | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​
Common equity Tier 1 to risk-weighted assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated | ​ | $ | 1,335,826 |  | 12.05 | % | $ | 706,981 |  | 6.38 | % | $ | 776,293 | ​ | 7.00 | % | $ | 720,844 |  | 6.50 | %
South State Bank (the Bank) | ​ |  | 1,427,764 |  | 12.87 | % |  | 707,039 |  | 6.38 | % |  | 776,356 | ​ | 7.00 | % |  | 720,902 |  | 6.50 | %
Tier 1 capital to risk-weighted assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated | ​ |  | 1,447,428 |  | 13.05 | % |  | 873,330 |  | 7.88 | % |  | 942,642 | ​ | 8.50 | % |  | 887,192 |  | 8.00 | %
South State Bank (the Bank) | ​ |  | 1,427,764 |  | 12.87 | % |  | 873,401 |  | 7.88 | % |  | 942,718 | ​ | 8.50 | % |  | 887,264 |  | 8.00 | %
Total capital to risk-weighted assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated | ​ |  | 1,503,561 |  | 13.56 | % |  | 1,095,128 |  | 9.88 | % |  | 1,164,440 | ​ | 10.50 | % |  | 1,108,990 |  | 10.00 | %
South State Bank (the Bank) | ​ |  | 1,483,897 |  | 13.38 | % |  | 1,095,217 |  | 9.88 | % |  | 1,164,534 | ​ | 10.50 | % |  | 1,109,080 |  | 10.00 | %
Tier 1 capital to average assets (leverage ratio): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consolidated | ​ |  | 1,447,428 |  | 10.65 | % |  | 543,506 |  | 4.00 | % |  | 543,506 | ​ | 4.00 | % |  | 679,383 |  | 5.00 | %
South State Bank (the Bank) | ​ |  | 1,427,764 |  | 10.51 | % |  | 543,387 |  | 4.00 | % |  | 543,387 | ​ | 4.00 | % |  | 679,234 |  | 5.00 | %
​ As of December 31, 2019 and 2018, the capital ratios of the Company and the Bank were well in excess of the minimum regulatory requirements and exceeded the thresholds for the “well capitalized” regulatory classification.

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- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958572-112826 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958570-112826 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958577-112826 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958574-112826 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=117337116&loc=d3e65071-112826 + Details
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