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South State Bank CRA Performance Examination

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South State Bank CRA Performance Examination PUBLIC DISCLOSURE September 16, 2019 COMMUNITY REINVESTMENT ACT PERFORMANCE EVALUATION South State Bank Certificate Number: 13425 520 Gervais Street Columbia, South Carolina, 29201 Federal Deposit Insurance Corporation Division of Depositor and Consumer Protection Atlanta Regional Office 10 Tenth Street NE, Suite 800 Atlanta, Georgia, 30309-3849 This document is an evaluation of this institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operation of the institution. This evaluation is not, nor should it be construed as, an assessment of the financial condition of this institution. The rating assigned to this institution does not represent an analysis, conclusion, or opinion of the federal financial supervisory agency concerning the safety and soundness of this financial institution. `1 TABLE OF CONTENTS Institution Rating Overall Rating ......................................................................................................................1 Performance Test Ratings Table .........................................................................................1 Summary of Major Factors Supporting Rating ....................................................................1 Institution Scope of Evaluation .............................................................................................................2 Description of Institution .....................................................................................................5 Description of Assessment Area ..........................................................................................6 Conclusions on Performance Criteria ..................................................................................8 Discriminatory or Other Illegal Credit Practices Review ..................................................20 South Carolina Summary State Rating ............................................................................................................21 Scope of Examination ............................................................................................21 Description of Institution’s Operations ..................................................................21 Conclusions on Performance Criteria ....................................................................21 Charleston-North Charleston, SC Metropolitan Area (Full-Scope) Description of Institution’s Operations ..................................................................23 Conclusions on Performance Criteria ....................................................................25 Columbia, SC Metropolitan Area (Full-Scope) Description of Institution’s Operations ..................................................................28 Conclusions on Performance Criteria ....................................................................29 Florence, SC Metropolitan Area (Full-Scope) Description of Institution’s Operations ..................................................................32 Conclusions on Performance Criteria ....................................................................34 South Carolina Nonmetropolitan Statewide Area (Full-Scope) Description of Institution’s Operations ..................................................................37 Conclusions on Performance Criteria ....................................................................39 Other South Carolina Assessment Areas (Limited-Scope) Conclusions on Performance Criteria ....................................................................41 Greenville-Anderson-Mauldin, SC Metropolitan Area (Limited-Scope) Description of Institution’s Operations ..................................................................42 Conclusions on Performance Criteria ....................................................................43 Hilton Head Island-Bluffton-Beaufort, SC Metropolitan Area (Limited-Scope) Description of Institution’s Operations ..................................................................43 2 Conclusions on Performance Criteria ....................................................................44 Spartanburg, SC Metropolitan Area (Limited-Scope) Description of Institution’s Operations ..................................................................45 Conclusions on Performance Criteria ....................................................................46 Sumter, SC Metropolitan Area (Limited-Scope) Description of Institution’s Operations ..................................................................46 Conclusions on Performance Criteria ....................................................................47 Georgia Summary State Rating ............................................................................................................49 Scope of Examination ............................................................................................49 Description of Institution’s Operations ..................................................................49 Conclusions on Performance Criteria ....................................................................49 Gainesville, GA Metropolitan Area (Full-Scope) Description of Institution’s Operations ..................................................................51 Conclusions on Performance Criteria ....................................................................53 Savannah, GA Metropolitan Area (Full-Scope) Description of Institution’s Operations ..................................................................55 Conclusions on Performance Criteria ....................................................................57 Georgia Nonmetropolitan Statewide Area (Full-Scope) Description of Institution’s Operations ..................................................................60 Conclusions on Performance Criteria ....................................................................62 Other Georgia Assessment Areas (Limited-Scope) Conclusions on Performance Criteria ....................................................................64 Athens-Clarke County, GA Metropolitan Area (Limited-Scope) Description of Institution’s Operations ..................................................................65 Conclusions on Performance Criteria ....................................................................66 Atlanta-Sandy Springs-Roswell, GA Metropolitan Area (Limited-Scope) Description of Institution’s Operations ..................................................................66 Conclusions on Performance Criteria ....................................................................67 North Carolina Summary State Rating ............................................................................................................69 Scope of Examination ............................................................................................69 Description of Institution’s Operations ..................................................................69 Conclusions on Performance Criteria ....................................................................69 3 Wilmington, NC Metropolitan Area (Full-Scope) Description of Institution’s Operations ..................................................................71 Conclusions on Performance Criteria ....................................................................73 Other North Carolina Assessment Area (Limited-Scope) Conclusions on Performance Criteria ....................................................................76 Raleigh, NC Metropolitan Area (Limited-Scope) Description of Institution’s Operations ..................................................................76 Conclusions on Performance Criteria ....................................................................77 Virginia Summary (Richmond, VA Metropolitan Area) (Full-Scope) Virginia State Rating..............................................................................................79 Scope of Examination ............................................................................................79 Description of Institution’s Operations ..................................................................79 Conclusions on Performance Criteria ....................................................................81 Charlotte-Concord-Gastonia, NC-SC Multistate Metropolitan Area (Full-Scope) Multistate Metropolitan Area Rating .................................................................................84 Scope of Evaluation ...........................................................................................................84 Description of Institution’s Operations ..............................................................................84 Conclusions on Performance Criteria ................................................................................86 Augusta-Richmond County, GA-SC Multistate Metropolitan Area (Full-Scope) Multistate Metropolitan Area Rating .................................................................................89 Scope of Evaluation ...........................................................................................................89 Description of Institution’s Operations ..............................................................................89 Conclusions on Performance Criteria ................................................................................91 Myrtle Beach-Conway-North Myrtle Beach, SC-NC Multistate Metropolitan Area
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