XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.25.2

Mortgage Loan Servicing, Origination, and Loans Held for Sale | 6 Months Ended
--- | ---
Jun. 30, 2025
Mortgage Loan Servicing, Origination, and Loans Held for Sale |
Mortgage Loan Servicing, Origination, and Loans Held for Sale | Note 19 — Mortgage Loan Servicing, Origination, and Loans Held for Sale ​ The portfolio of residential mortgages serviced for others, which is not included in the accompanying Consolidated Balance Sheets, was $6.7 billion and $6.7 billion, respectively, as of June 30, 2025 and December 31, 2024. Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts and disbursing payments to investors. The amounts of contractually specified servicing fees we earned during the three and six months ended June 30, 2025, and June 30, 2024, were $4.2 million, $8.5 million, $4.3 million, $8.4 million, respectively. Servicing fees are recorded in Mortgage Banking Income in our Consolidated Statements of Income. ​ At June 30, 2025 and December 31, 2024, MSRs were $85.8 million and $89.8 million on our Consolidated Balance Sheets, respectively. MSRs are recorded at fair value with changes in fair value recorded as a component of Mortgage Banking Income in the Consolidated Statements of Income. The market value adjustments related to MSRs recorded in Mortgage Banking Income for the three and six months ended June 30, 2025, and June 30, 2024, were losses of $1.7 million and $4.8 million compared with gains of $830,000 and $3.2 million, respectively. The Company has used various free standing derivative instruments to mitigate the income statement effect of changes in fair value resulting from changes in market value adjustments, in addition to changes in valuation inputs and assumptions related to MSRs. ​ See Note 14 — Fair Value for the changes in fair value of MSRs. The following table presents the changes in the fair value of the MSR and offsetting hedge. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended |  | Six Months Ended | ​ |
(Dollars in thousands) |  | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024 |  |
(Decrease)/increase in fair value of MSRs | ​ | $ | (1,689) | ​ | $ | 830 | ​ | $ | (4,770) | ​ | $ | 3,214 | ​ | ​
Decay of MSRs | ​ |  | (2,284) | ​ |  | (2,566) | ​ |  | (3,312) | ​ |  | (4,007) | ​ | ​
Gain (loss) related to derivatives | ​ | ​ | 1,248 | ​ | ​ | (1,424) | ​ | ​ | 3,588 | ​ | ​ | (4,004) | ​ | ​
Net effect on Consolidated Statements of Income | ​ | $ | (2,725) | ​ | $ | (3,160) | ​ | $ | (4,494) | ​ | $ | (4,797) | ​ | ​
​ The fair value of MSRs is highly sensitive to changes in assumptions and is determined by estimating the present value of the asset’s future cash flows utilizing market-based prepayment rates, discount rates and other assumptions validated through industry surveys, third-party vendor analyses, and market sales data. Changes in prepayment speed assumptions have the most significant impact on the fair value of MSRs. Generally, as interest rates decline, mortgage loan prepayments accelerate due to increased refinance activity, which results in a decrease in the fair value of the MSR. Measurement of fair value is limited to the conditions existing, and the assumptions utilized as of a particular point in time, and those assumptions may not be appropriate if applied at a different time. See Note 14 — Fair Value for additional information regarding fair value. The characteristics and sensitivity analysis of the MSRs are included in the following table:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | ​ | December 31, | ​ | ​
(Dollars in thousands) |  | 2025 |  |  | 2024 |  |
Composition of residential loans serviced for others | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fixed-rate mortgage loans | ​ | ​ | 100.0 | % | ​ | ​ | 100.0 | % | ​
Adjustable-rate mortgage loans | ​ | ​ | — | % | ​ | ​ | — | % | ​
Total | ​ | ​ | 100.0 | % | ​ | ​ | 100.0 | % | ​
Weighted average life | ​ | ​ | 7.66 | years | ​ | ​ | 7.97 | years | ​
Constant Prepayment rate (CPR) | ​ | ​ | 7.6 | % | ​ | ​ | 7.0 | % | ​
Estimated impact on fair value of a 10% increase | ​ | $ | (965) | ​ | ​ | $ | (658) | ​ | ​
Estimated impact on fair value of a 20% increase | ​ | ​ | (1,900) | ​ | ​ | ​ | (1,298) | ​ | ​
Estimated impact on fair value of a 10% decrease | ​ | ​ | 1,005 | ​ | ​ | ​ | 666 | ​ | ​
Estimated impact on fair value of a 20% decrease | ​ | ​ | 2,056 | ​ | ​ | ​ | 1,328 | ​ | ​
Weighted average discount rate | ​ | ​ | 10.7 | % | ​ | ​ | 10.9 | % | ​
Estimated impact on fair value of a 10% increase | ​ | $ | (3,215) | ​ | ​ | $ | (3,166) | ​ | ​
Estimated impact on fair value of a 20% increase | ​ | ​ | (6,362) | ​ | ​ | ​ | (6,339) | ​ | ​
Estimated impact on fair value of a 10% decrease | ​ | ​ | 3,167 | ​ | ​ | ​ | 3,022 | ​ | ​
Estimated impact on fair value of a 20% decrease | ​ | ​ | 6,075 | ​ | ​ | ​ | 5,738 | ​ | ​
Effect on fair value due to change in interest rates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
25 basis point increase | ​ | $ | 2,313 | ​ | ​ | $ | 1,761 | ​ | ​
50 basis point increase | ​ | ​ | 4,439 | ​ | ​ | ​ | 3,296 | ​ | ​
25 basis point decrease | ​ | ​ | (2,389) | ​ | ​ | ​ | (1,952) | ​ | ​
50 basis point decrease | ​ | ​ | (4,803) | ​ | ​ | ​ | (4,052) | ​ | ​
​ The sensitivity calculations above are hypothetical and should not be considered to be predictive of future performance. Changes in fair value based on changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fair value of the residential MSRs is calculated without changing any other assumption, while in reality changes in one factor may result in changes in another, which may either magnify or counteract the effect of the change. The derivative instruments utilized by the Company would serve to reduce the estimated impacts to fair value included in the table above. ​ Whole loan sales were $262.7 million and $544 million for the three and six months ended June 30, 2025, respectively, compared to $282.6 million and $505.3 million for the three and six months ended June 30, 2024, respectively. For the three and six months ended June 30, 2025, $175.4 million and $340.2 million, or 66.8% and 62.5%, respectively, were sold with the servicing rights retained by the Company, compared to $205.9 million and $366.6 million, or 72.9% and 72.6%, respectively, for the three and six months ended June 30, 2024. ​ The Company retains no beneficial interests in these sales but may retain the servicing rights for the loans sold. The risks related to the sold loans with the retained servicing rights due to a representation or warranty violation such as noncompliance with eligibility or servicing requirements, or customer fraud, that should have been identified in a loan file review are disclosed in Note 1 — Summary of Significant Accounting Policies, under the “Loans Held for Sale” section, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. The Company is obligated to subsequently repurchase a loan if such representation or warranty violation is identified by the purchaser. The aggregated principal balances of loans repurchased for the six months ended June 30, 2025, and 2024 were approximately $1.3 million and $1.2 million, respectively. There were approximately $55,000 and $52,000, respectively, in loss reimbursement and settlement claims paid in the six months ended June 30, 2025 and 2024. Mortgage loans held for sale have historically been comprised of residential mortgage loans awaiting sale in the secondary market, which generally settle in 15 to 45 days. Mortgage loans held for sale were $71.0 million and $98.1 million at June 30, 2025 and December 31, 2024, respectively. Please see Note 14 — Fair Value, under the “Fair Value Option”, section in this Quarterly Report on Form 10-Q for summary of the fair value and the unpaid principal balance of loans held for sale and the changes in fair value of these loans.

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

X
- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480591/815-20-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(11)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(7) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-4 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-3 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b)(2)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-3 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-3 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(4)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-3 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(5) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-3 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-2 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/860/tableOfContent Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-3 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (cc) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-3 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a)(5)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4D -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4D Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481420/860-30-50-7 Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-2 Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-2 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 860 -SubTopic 50 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481229/860-50-50-4 + Details
Name: | us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration