About South State Bank, Customer Service And South State Online Banking

South State Bank

This article explains all you need to know about South State Bank.

About South State Bank

South State Bank is an American bank and a subsidiary of South State Corporation, a bank holding company. With 168 branches in South Carolina, North Carolina, Georgia and Virginia as of 2018.

South State Bank History 

First National Bank opened in Orangeburg in 1933. In 2002, the bank renamed itself South Carolina Bank and Trust and relocated to Columbia. Orangeburg had 240 employees in 2013. SCBT opened offices in Greenville, SC. In 2003, First National became SCBT Financial. With $1 billion in assets, it was the state’s fourth largest. 

With four offices in Charlotte and one in Cornelius, SCBT Financial Corp. now owns TSB Financial Corp. and The Scottish Bank. 

North Carolina Bank and Trust, or NCBT, took over the five locations. 

Announcing a combination with First Banking Holdings of Charleston in 2013, SCBT Financial Corp. became the third largest financial institution in South Carolina with 66 locations. SCBT had 82 locations across 19 countries in South Carolina, 10 in north Georgia, two on the Georgia coast, and one in North Carolina. Robert R. Hill Jr., SCBT president and CEO, would continue CEO, and Robert R. Horger, chair. R. Wayne Hall, First Financial’s president and CEO, would become president, and Paula Harper Bethea, vice president. It was the largest ever deal for SCBT Financial, which now owns five banks: SCBT, First Federal Bank of Charleston, North Carolina Bank of Charlotte, Community Bank & Trust Cornelia (Georgia), and Savannah Bank (Georgia). SCBT Financial became South State Corporation in June 2014, followed by SCBT and First Federal in July. The merger brought the bank $8 billion in assets and added coastal South Carolina branches. The amalgamated corporation was able to use a former Kroger in North Charleston that had been refurbished and enlarged in the 1980s for First Federal’s back office operations. The company took over 13 Bank of America locations in August. (Southeastern Bank Financial Corp.) in Augusta, Georgia, giving South State nine Georgia Bank & Trust branches and three Southern Bank & Trust branches in South Carolina. 

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For $690.8 million, South State Corp. agreed to buy Park Sterling Corp. of Charlotte, NC. 

Finalized on November 30, 2017, and amended in April 2018. Georgia has five, South Carolina 23, North Carolina 17, and Virginia eight. South State merged with CenterState Bank on June 8, 2020. The new bank will retain the South State moniker but relocate to Winter Haven. Assets total $34 billion. 

Savings Accounts 

* Three account options 

* Reasonable interest rates 

* Competitive interest rates 

* Longer-term choices 

Money Market 

Interest rates are based on balance 

* a monthly cost 

* Five account option 

* Three interest-bearing accounts 

South State Bank Pros 

* High interest rates 

* Account options

* Excellent customer service 

South State Bank Cons

* High minimums and costs 

Best For 

* Local customers who can benefit from the bank’s community 

South State Bank Branches 

Georgia, North Carolina, South Carolina and Virginia have South State Bank branches. Most are in South Carolina. 

Not able to visit a branch? South State provides multiple phone numbers for everything from debit card activation to after-hours credit card support. 

South State Bank Customer Service 

Place the order for you by calling (800) 277-2175. Follow the directions by dialing (800) 763-0555. Visit a branch. 

Financial Data & Bank Health 

Lending totals $10.65 billion, according to the FDIC. Customers have deposited $11.56 billion with the bank. 

The Texas Ratio can help you assess South State Bank’s deposit-protection risk. This ratio measures a bank’s risk by dividing non-performing assets (unbacked current loans and real estate) by tangible equity capital and loan loss allowances. Banks with a ratio near 100% are deemed risky. South State Bank has a good Texas Ratio of 2.14 percent.

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South State Bank Conclusion 

Thanks for taking the time to read this blog post on South State Bank.

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