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Subsequent Events | 12 Months Ended
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Dec. 31, 2020
Subsequent Events |
Subsequent Events | Note 32—Subsequent Events On January 27, 2021, the Company’s Board of Directors approved the authorization of a new 3.5 million share Company stock repurchase plan (the “New Repurchase Program”). The New Repurchase Plan replaces the Company’s prior stock repurchase plan announced on June 13, 2019 in its entirety. The repurchases under the New Repurchase Program will be made from time to time by the Company in the open market as conditions allow and the repurchase plan has made available for two years, unless shortened or extended by the Company’s Board of Directors. The stock repurchase program does not obligate the Company to repurchase any specified number of shares of its common stock. The shares may be purchased in open market or negotiated transactions, block trades, accelerated share repurchase transactions or pursuant to one or more trading plans established pursuant to Rule 10b5-1. Open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange and Commission and other applicable legal requirements. The number, price and timing of the repurchases, if any, will be at the Company’s sole discretion and will depend on a number of factors, including market and economic conditions, liquidity needs and other factors and there is no assurance that the Company will purchase any shares under the program. ​ On February 1, 2021, the Company completed its previously announced acquisition of Duncan-Williams, Inc., a 52-year-old family- and employee-owned registered broker-dealer, headquartered in Memphis, Tennessee, serving primarily institutional clients across the U.S. in the fixed income business. Duncan-Williams firm became an operating subsidiary of South State Bank immediately following the transaction. The transaction provides the Company with a seasoned team of revenue producers as well as an expanded platform through which the Correspondent Banking Division can leverage additional opportunities. The transaction represents an attractive capital deployment opportunity for the company and the ability to grow its fee-based businesses.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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