Financial Data and Key Metrics Changes - The fourth quarter GAAP net income was $75.3 million, with diluted earnings per share at $1.52, resulting in a 1.20% return on assets and an 8.38% return on average common equity [12] - Adjusted operating net income for the quarter was $84.4 million, or $1.70 diluted EPS, representing a 1.34% return on assets and a 9.38% return on average common equity [12] - Operating EPS increased by 60% from Q1 2025 to Q4 2025, with operating ROAA rising by 40 basis points and operating ROTC improving by 529 basis points [2] Business Line Data and Key Metrics Changes - C&I loans increased 9% organically in 2025, now representing 25% of total loans compared to 22% at year-end 2024 [5] - Total commercial loans closed were $789 million in Q4, up from $754 million in the previous quarter, with funding on these commitments at $454 million [5] - The wealth management business maintained stable AUA at $9.2 billion in Q4, with revenues growing at a 4% annual rate [8] Market Data and Key Metrics Changes - The cost of total deposits was 1.46% in Q4, reflecting the value of the deposit franchise [7] - Average core deposits grew by 3.6% annualized in Q4, despite a 0.8% decline in total period-end deposit balances due to seasonal business deposit activity [15][16] - Legacy Rockland Trust branches generated record new business relationships, totaling 6,921, with 100% of branches achieving positive net new consumer growth [8] Company Strategy and Development Direction - The company aims to focus on organic growth, expense management, and capital optimization in 2026, with a commitment to returning excess capital to shareholders [10] - The strategy includes hiring commercial lenders and aligning incentive structures to emphasize both loan and deposit growth [9] - The company is not currently focused on M&A, prioritizing organic growth and successful integration of the enterprise acquisition [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning across markets, driven by product strength and employee dedication [10] - The outlook for 2026 includes targeting mid-single-digit percentage growth for C&I loans and low single-digit growth for combined CRE and construction [21] - Management noted that geopolitical noise and potential tariffs create some customer anxiety, but overall asset quality metrics are expected to remain stable [40] Other Important Information - The company returned $164 million of capital to shareholders in 2025, including the repurchase of 913,000 shares for $61 million [8] - The fourth quarter results benefited from a lower tax rate due to one-time adjustments associated with the 2024 corporate tax return [13] - Total non-performing assets remained stable at $85.7 million, or 0.45% of total loans [16] Q&A Session Summary Question: Can you walk through the dynamics of the criticized classified loans? - Management indicated that the increase in non-performing assets was primarily due to one specific loan that is now in the first quarter 2026 maturity bucket, with expectations for resolution early in 2026 [26][27] Question: What is the outlook on deposit betas with potential rate cuts? - Management believes they can maintain a 20% beta on non-CD deposits and 80% on CDs, leveraging their deposit franchise structure [28][29] Question: What is the outlook on M&A? - Management stated they are not focused on M&A at the moment, prioritizing organic growth and successful integration of the enterprise acquisition [30] Question: What are the long-term capital targets? - Long-term capital targets for CET1 are in the high 11%-12% range, suggesting tangible capital in the 8.75%-9% range [36] Question: What is the competitive landscape for C&I and CRE loans? - Management noted that while competition is present, they are still able to secure deals at desired pricing levels [48] Question: What are the plans for hiring additional commercial loan officers? - Management indicated they are in a good position with new hires from the previous year and expect inherent growth from these additions [55]

Q4 2025 Earnings Presentation January 23, 2026 Exhibit 99.2 Company Overview Strong, Resilient Franchise; Well Positioned for Growth | | Safe & Sound | Customer Centric | | --- | --- | --- | | • | Strong balance sheet | • Full suite of retail banking, commercial banking, | | • | Prudent interest rate and liquidity risk | and wealth product offerings | | | management | • Relationship-oriented commercial lending with | | • | Significant capital buffer | strong local market knowledge and presence | | • | Diver ...

Core Viewpoint - SouthState Corporation (SSB) has shown strong performance with an 11.6% increase in shares over the past three months, outperforming the industry growth of 6.8% and its peers [1][8] Financial Performance - The Federal Reserve's recent interest rate cuts are expected to ease funding pressures and stabilize deposit costs, benefiting banks like SouthState [4] - SouthState's net interest income (NII) has achieved a five-year compound annual growth rate (CAGR) of 22.9% through 2024, with continued improvement in the first half of 2025 [5] - The net interest margin (NIM) improved in the first half of 2025 due to balance sheet optimization, despite a decline in 2024 from elevated funding costs [5][6] - Revenue growth is projected to continue, with estimates suggesting a year-over-year increase of 51.93% for 2025 and 4.76% for 2026 [9][10] Growth Strategies - SouthState has expanded its market presence through acquisitions, including the significant acquisition of Independent Bank in January 2025, which increased total assets to $65.1 billion [10][11] - The company has maintained strong organic growth, with a revenue CAGR of 21.5% over the past five years, continuing into the first half of 2025 [6][7] Liquidity and Shareholder Returns - SouthState has a solid liquidity position, with total debt of $1.2 billion against cash and cash equivalents of $3.5 billion as of June 30, 2025 [12] - The company has consistently raised dividends since 2020, with a recent hike of 11.1% in July 2025, resulting in a payout ratio of 26% and a five-year annualized dividend growth of 3.30% [13][16] Risks and Concerns - Elevated non-interest expenses have shown a CAGR of 16.6% from 2019 to 2024, driven by various operational costs [18] - The loan portfolio is heavily concentrated in real estate, with 72.9% of loans having real estate as collateral, increasing exposure to commercial real estate risks [20][21] Valuation - SouthState's trailing price-to-book (P/B) ratio of 1.15X is below the industry average of 1.88X, indicating that shares are trading at a discount compared to peers [23]