South State Corporation Reports Operating Results of $1.00 per share

Increases Quarterly Cash Dividend

COLUMBIA, SC – October 28, 2014—South State Corporation (NASDAQ: SSB) today released its unaudited results of operations and other financial information for the three-month and nine-month periods ended September 30, 2014. Highlights of the third quarter 2014 include the following:

• Net income available to common shareholders of $19.3 million, or $0.80 diluted EPS in 3Q 2014, up 7.7%, compared to $17.9 million, or $0.74 diluted EPS in 2Q 2014, and up 67.9% from $11.5 million, or $0.52 diluted EPS in 3Q 2013;

• Operating earnings of $24.2 million, or $1.00 diluted operating EPS, up 9.1%, compared to $22.2 million, or $0.92 diluted operating EPS in 2Q 2014, and up 28.3% from $18.8 million, or $0.85 diluted operating EPS in 3Q 2013 (operating earnings exclude merger and branding expenses and include preferred stock dividends paid);

• Successfully executed the system conversion related to the First Financial merger and rebranded the Company to South State Bank;

• Return on average assets was 0.96% annualized in 3Q 2014, up from 0.91% in 2Q 2014 and 0.66% in 3Q 2013; Operating return on average assets was 1.21% annualized in 3Q 2014 compared to 1.12% in 2Q 2014 and 1.07% in 3Q 2013;

• Return on average tangible common equity was 14.0% annualized in 3Q 2014 compared to 13.6% in 2Q 2014, and 10.4% in 3Q 2013; Operating return on average tangible common equity was 17.2% in 3Q 2014 compared to 16.6% in 2Q 2014 and 16.4% in 3Q 2013;

• Tangible common equity per share increased by $0.66 during the third quarter to $24.78;

• Net charge-offs of non-acquired loans increased to 0.26% annualized in 3Q 2014, compared to 0.17% annualized in 2Q 2014 and decreased from 0.45% annualized in 3Q 2013;

• Operating efficiency ratio decreased to 61.3% in 3Q2014, compared to 63.6% in 2Q2014 and 64.3% in 3Q2013;

• Legacy loan growth for 3Q 2014 was $130.1 million or 16.4% annualized.

South State Corporation is the largest bank holding company headquartered in South Carolina. Founded in 1933, the company’s primary subsidiary, South State Bank, has been serving the financial needs of its local communities in 19 South Carolina counties, 12 Georgia counties and 4 North Carolina counties for over 80 years. The bank also operates Minis & Co., Inc. and First Southeast 401K Fiduciaries, Inc., both registered investment advisors; and First Southeast Investor Services, Inc., a limited purpose broker-dealer. South State Corporation has assets of approximately $7.9 billion and its stock is traded under the symbol SSB on the NASDAQ Global Select Market. More information can be found at www.SouthStateBank.com.