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Subsequent Events | 6 Months Ended
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Jun. 30, 2021
Subsequent Events |
Subsequent Events | Note 23 — Subsequent Events ​ On July 23, 2021, the Company and Atlantic Capital Bancshares, Inc., a Georgia corporation (“Atlantic Capital”) entered into an Agreement and Plan of Merger (the “Merger Agreement”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Atlantic Capital will merge with and into the Company (the “Merger”), with the Company continuing as the surviving corporation in the Merger (the “Surviving Entity”). Immediately following the Merger, Atlantic Capital’s wholly owned banking subsidiary, Atlantic Capital Bank, N.A. will merge with and into the Company’s wholly owned banking subsidiary, South State Bank, N.A. (the “Bank Merger”), which will continue as the surviving bank in the Bank Merger (the “Surviving Bank”). The Merger Agreement was unanimously approved by the Board of Directors of the Company and Atlantic Capital, and is subject to the approval by Atlantic Capital’s shareholders, as well as regulatory approvals and other customary closing conditions. Under the terms of the Merger Agreement, shareholders of Atlantic Capital will receive 0.36 shares of the Company’s common stock for each share of Atlantic Capital common stock they own. The transaction is expected to close during the first quarter of 2022. At June 30, 2021, Atlantic Capital reported $3.8 billion in total assets, $2.3 billion in loans and $3.3 billion in deposits. ​ On July 28, 2021, the Company announced that the Board of Directors of the Company increased its quarterly cash dividend on its common stock from $0.47 per share to $0.49 per share. The dividend is payable on August 19, 2021 to shareholders of record as of August 12, 2021. ​ As of August 5, 2021, the Company repurchased an additional 353,403 shares of the Company’s common stock pursuant to the 2021 Stock Repurchase Plan at a weighted average price of $76.17 per share. Total stock repurchases to date equal 1,053,403 shares at a weighted average price of $82.66 per share. The Company may repurchase up to an additional 2.4 million shares of common stock under the 2021 Stock Repurchase Plan. ​

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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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