XML 51 R29.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases |
Leases | Note 21—Leases Our outstanding lease agreements are for real estate properties, including retail branch locations, operations and administration locations and stand-alone ATM locations. We have determined the number and dollar amount of our equipment leases is not material. ​ As of December 31, 2023 and 2022, we had operating ROU assets of $100.3 million and $108.0 million, respectively, and operating lease liabilities of $108.3 million and $115.6 million, respectively. We maintain operating leases on land and buildings for our operating centers, branch facilities and ATM locations. Most leases include one or more options to renew, with renewal terms extending up to 21 years. The exercise of renewal options is based on the sole judgment of management and what they consider to be reasonably certain given the environment today. Factors in determining whether an option is reasonably certain of exercise include, but are not limited to, the value of leasehold improvements, the value of renewal rates compared to market rates, and the presence of factors that would cause a significant economic penalty to us if the option is not exercised. Leases with an initial term of 12 months or less are not recorded on the balance sheet and instead are recognized in lease expense on a straight-line basis over the lease term. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | Year Ended December 31, |
​ |  | 2023 |  | 2022 |  | 2021 |
Lease Cost Components: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of ROU assets – finance leases | ​ | $ | 466 | ​ | $ | 466 | ​ | $ | 466 | ​
Interest on lease liabilities – finance leases | ​ | ​ | 41 | ​ | ​ | 49 | ​ | ​ | 56 | ​
Operating lease cost (cost resulting from lease payments) | ​ | ​ | 17,123 | ​ | ​ | 17,782 | ​ | ​ | 17,236 | ​
Short-term lease cost | ​ | ​ | 429 | ​ | ​ | 820 | ​ | ​ | 446 | ​
Variable lease cost (cost excluded from lease payments) | ​ |  | 3,196 | ​ |  | 2,399 | ​ |  | 2,768 | ​
Total lease cost | ​ | $ | 21,255 | ​ | $ | 21,516 | ​ | $ | 20,972 | ​
Supplemental Cash Flow and Other Information Related to Leases: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance lease – operating cash flows | ​ | $ | 41 | ​ | $ | 49 | ​ | $ | 56 | ​
Finance lease – financing cash flows | ​ | ​ | 449 | ​ | ​ | 434 | ​ | ​ | 427 | ​
Operating lease – operating cash flows (fixed payments) | ​ |  | 16,710 | ​ |  | 17,253 | ​ |  | 16,435 | ​
Operating lease – operating cash flows (net change asset/liability) | ​ | ​ | (13,414) | ​ | ​ | (13,723) | ​ | ​ | (12,790) | ​
New ROU assets – operating leases | ​ | ​ | 1,160 | ​ | ​ | 12,635 | ​ | ​ | 9,623 | ​
Weighted – average remaining lease term (years) – finance leases | ​ | ​ | 4.43 | ​ | ​ | 5.42 | ​ | ​ | 6.41 | ​
Weighted – average remaining lease term (years) – operating leases | ​ |  | 9.29 | ​ |  | 10.03 | ​ |  | 10.95 | ​
Weighted – average discount rate - finance leases | ​ | ​ | 1.7% | ​ | ​ | 1.7% | ​ | ​ | 1.7% | ​
Weighted – average discount rate - operating leases | ​ |  | 3.1% | ​ |  | 3.0% | ​ |  | 3.2% | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating lease payments due: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2024 | ​ | $ | 15,970 | ​ |  | ​ | ​ | ​ | ​ | ​
2025 | ​ |  | 14,640 | ​ |  | ​ | ​ | ​ | ​ | ​
2026 | ​ |  | 14,210 | ​ |  | ​ | ​ | ​ | ​ | ​
2027 | ​ |  | 13,155 | ​ |  | ​ | ​ | ​ | ​ | ​
2028 | ​ | ​ | 12,502 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Thereafter | ​ |  | 56,090 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total undiscounted cash flows | ​ |  | 126,567 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Discount on cash flows | ​ | ​ | (18,283) | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total operating lease liabilities | ​ | $ | 108,284 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ As of December 31, 2023, the Company held a small number of finance leases assumed in connection to the CenterState merger completed in 2020. These leases were all real estate leases. Terms and conditions are similar to those real estate operating leases described above. Lease classifications from the acquired institutions were retained. At December 31, 2023, we did not maintain any leases with related parties, and determined that the number and dollar amount of equipment leases was immaterial. As of December 31, 2023, we had additional operating leases that had not yet commenced of $2.7 million. Equipment Lessor SouthState has an Equipment Finance Group which goes to market through intermediaries. The Equipment Finance Group is primarily focused on serving the construction and utility segments. Lease terms typically range from 24 months to 120 months. At the end of the lease term, the lessee has the option to renew the lease, return the equipment, or purchase the equipment. In the event the equipment is returned, there is a remarketing agreement with the intermediary to sell the equipment. The Equipment Finance Group offers the following lease products: TRAC Leases, Split-TRAC Leases, and FMV Leases. Direct finance equipment leases are included in commercial and industrial loans on the Consolidated Balance Sheet. ​ The estimated residual values for direct finance leases are established by approved intermediary who utilizes internally developed analyses, external studies, and/or third-party appraisals to establish a residual position. FMV and Split TRAC leases have residual risk due to their unguaranteed residual value whereas TRAC leases have a guaranteed residual value. Expected credit losses on direct financing leases and the related estimated residual values are included in the Commercial and Industrial loan segment for the ACL. ​ ​ The following table summarizes lease receivables and investment in operating leases and their corresponding balance sheet location at December 31, 2023: ​
​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | Year Ended December 31, |
​ |  | 2023 |
Direct financing leases: | ​ | ​ | ​ | ​
Lease receivables | ​ | $ | 4,839 | ​
Guaranteed residual values | ​ | ​ | 510 | ​
Unguaranteed residual values | ​ | ​ | 501 | ​
Initial direct costs | ​ | ​ | 155 | ​
Unearned income | ​ |  | 1,165 | ​
Total net investment in direct financing leases | ​ | $ | 7,170 | ​
Direct financing lease income: | ​ | ​ | ​ | ​
Interest income | ​ | $ | 30 | ​
​ | ​ | ​ | ​ | ​
Remaining lease payments receivable: | ​ | ​ | ​ | ​
2024 | ​ | $ | 958 | ​
2025 | ​ |  | 958 | ​
2026 | ​ |  | 958 | ​
2027 | ​ |  | 971 | ​
2028 | ​ | ​ | 1,533 | ​
Thereafter | ​ |  | 626 | ​
Total undiscounted cash flows | ​ |  | 6,004 | ​
Less: unearned interest income | ​ | ​ | (1,165) | ​
Total operating lease liabilities | ​ | $ | 4,839 | ​
​ See further discussion in Note 1—Summary of Significant Accounting Policies on page F-20 on accounting for leases.

X
- Definition The entire disclosure of information about leases. + References No definition available. + Details
Name: | ssb_LeaseDisclosureTextBlock
Namespace Prefix: | ssb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration