secwatch.observer — SEC 8-K summary
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Issuer:     SouthState Bank Corp (SSB)
CIK:        0000764038
Form:       8-K
Filed at:   2025-01-13T23:59:59+00:00
Accession:  0001558370-25-000154
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SouthState sells 170 bank branches for $475M, expects $225M pre-tax gain in sale-leaseback with Blue Owl
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- Sale-leaseback of ~170 branches across six states to Blue Owl affiliates for ~$475M cash.
- Expected pre-tax gain of ~$225M; first-year GAAP rent expense ~$40M, offset by $8M depreciation elimination.
- Bank will lease branches for 15-year initial term with 2% annual rent escalation; no branch closures or market exits.
- Transaction expected to close in Q1 2025, subject to Blue Owl due diligence; proceeds for general corporate purposes.
- Company may partially offset gain by selling some securities portfolio currently in a loss position.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764038/000155837025000154/0001558370-25-000154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764038/000155837025000154/ssb-20250108x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-000154

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