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Subsequent Events
12 Months Ended
Dec. 31, 2021
Subsequent Events  
Subsequent Events

Note 31—Subsequent Events

On January 24, 2022, the Company announced the declaration of a quarterly cash dividend on its common stock at $0.49 per share. The dividend was paid on February 18, 2022 to shareholders of record as of February 11, 2022.

On February 11, 2022, the Federal Reserve Board approved SouthState’s application with respect to the previously announced merger between SouthState and Atlantic Capital pursuant to the Agreement and Plan of Merger, dated as of July 22, 2021, by and between SouthState and Atlantic Capital. We previously received approval from the OCC on October 12, 2021 and approval from Atlantic Capital’s shareholders on November 16, 2021. All required regulatory approvals to complete the merger and the merger of the respective bank subsidiaries of SouthState and Atlantic Capital have now been received. The transaction is expected to close the first quarter of 2022.

As of February 23, 2022, the Company repurchased an additional 582,239 shares of the Company’s common stock pursuant to the 2021 Stock Repurchase Plan at a weighted average price of $85.55 per share after December 31, 2021. Total stock repurchases to date equal 2,400,180 shares at a weighted average price of $81.73 per share. The Company may repurchase up to an additional 1.1 million shares of common stock under the 2021 Stock Repurchase Plan.