Investment Thesis
After completing its merger of equals with CenterState a couple of month ago, South State Corporation (SSB) is now a $38 billion bank. Upon the closing of the merger, SSB also moved its headquarters to Winter Haven, Florida, but still has significant operations in Alabama, South Carolina, North Carolina, Georgia, and Virginia.
At face value, I believe the strategic and financial merits of this recent merger of equals transaction with CenterState are very compelling. The combination of the two banks has significant overlap in terms of credit cultures. Together, the new