Exhibit 99.1

South State Corporation Reports First Quarter EPS up 12.5% Over 4Q 2014;

Increases Quarterly Cash Dividend

COLUMBIA, S.C.—April 30, 2015—South State Corporation (NASDAQ: SSB) today released its unaudited results of operations and other financial information for the three-month period ended March 31, 2015.  Highlights of the first quarter 2015 include the following:

·                  Net income available to the common shareholder improved by 12.6% to $23.9 million from 4Q 2014

·                  Earnings per share (EPS) — diluted was $0.99 compared to $0.88 in  4Q 2014, a 12.5% increase

·                  Increased dividend paid to common shareholders by 21.1%; or $0.04 per share since 1Q 2014

·                  Net income available to the common shareholder improved by 51.0% from 1Q 2014

·                  EPS — diluted was $0.66 in 1Q 2014, a 50.0% increase

·                  Non-acquired loan growth during first quarter was $118.6 million or 13.7%

·                  Commercial non-owner occupied loans grew by $31.1 million or 37.3%

·                  Consumer real estate loans grew by $74.1 million or 27.7%

·                  Commercial owner occupied loans grew by $17.3 million or 7.6%

·                  Performance ratio improvement 1Q 2015 to 4Q 2014

·                  Return on average assets improved to 1.23% from 1.07%

·                  Return on average tangible equity improved to 16.21% from 14.77%

·                  Efficiency ratio improved to 65.05% from 69.34%

·                  Balance sheet and tangible book value continued to improve from 4Q 2014

·                  Reduced other borrowings by redeeming Trust Preferred Securities of $46.3 million (7% debt)

·                  OREO decreased $6.6 million, or 15.5% to $36.1 million, including auction of approximately 70 assets with $4.0 million in carrying value

·                  Commercial loss share agreement of CBT with FDIC expired March 31, 2015

·                  Noninterest bearing deposits increased by $117.3 million or 28.6%

·                  Shareholders’ equity exceeded $1.0 billion as equity increased $22.6 million

·                  Tangible equity to tangible assets improved to 8.39% from 8.28%

·                  Asset quality improvement from 4Q 2014

·                  Nonperforming assets (NPAs) declined by 9.9%, or $7.9 million, to $71.7 million

·                  NPAs to total assets improved to 0.89% from 1.02%

·                  Net charge offs on non-acquired loans declined to negative 0.01% in 1Q 2105 (a net recovery position) compared to 0.13%

·                  Net charge offs on acquired non-credit impaired loans increased to 0.56% in 1Q 2015 compared to 0.14%

·                  Coverage ratio of ALLL on non-acquired non-performing loans remained at 121%

Quarterly Cash Dividend

The Board of Directors of South State Corporation has declared a quarterly cash dividend of $0.24 per share payable on its common stock.  This per share amount is $0.01 per share, or 4.3% higher than the dividend paid in the immediately preceding quarter and is $0.04 per share, or 20.0%, higher than a year ago.  The dividend will be payable on May 29, 2015 to shareholders of record as of May 22, 2015.

Branch Initiatives

The first initiative is to consolidate or sell 14 branches and ATM locations over the next several quarters, subject to regulatory approval.  Below is current information about these locations:

·                  $208 million in total deposits with the average deposits per branch being $16 million (includes two branches that are being sold);

·                  Total cost savings are projected to be $4.5 million per year with the majority of the benefit being realized in compensation expense and net occupancy (starting in 3Q 2015);

·                  One-time costs are expected to be $4.5 million and incurred over the next two quarters;

·                  These costs will be offset by the sale of two branches with total deposits of approximately $32.0 million, loans of $7.8 million, and fixed assets of $1.4 million, with a gain of approximately $1.1 million;

·                  The deposit premium equals 3.5% for these two locations;

·                  Expect to close this sale in the fourth quarter of 2015.

The second initiative relates to the announcement last week where South State Corporation has entered into a purchase and assumption agreement to acquire 13 former Bank of America branches (12 in South Carolina and 1 in Georgia).  Below is current information and expectations related to these locations:

·                  Approximately $580 million in total deposits, $3 million in loans, and $7 million in fixed assets (including 34 ATMs);

·                  Deposit premium equals 5.5%, with the average cost of these deposits totaling 10 basis points;

·                  Modeled 15% deposit runoff;

·                  Over $260 million of deposits are in checking accounts which generate significant fee income;

·                  Transaction is expected to be immediately accretive to EPS and mid-single digit accretive in 2016;

·                  Internal rate of return estimated to be approximately 30%;

·                  Average branch age is approximately 45 years;

·                  Tangible book value earn back is expected within 3.5 years;

·                  Closing is expected in the third quarter of 2015, subject to regulatory approval.

First Quarter 2015 Financial Performance

The Company reported consolidated net income available to common shareholders of $23.9 million, or $0.99 per diluted common share for the three-months ended March 31, 2015 up from $21.2 million, or $0.88 per diluted common share for the three-months ended December 31, 2014.  The $2.7 million increase was the result of a decline in the provision for loan losses of $663,000, an increase in noninterest income of $1.2 million, lower noninterest expenses of $4.2 million, partially offset by a decrease in net interest income of $502,000 and an increase in the provision for income taxes of $2.9 million.  During the quarter, our effective income tax rate returned to a more normalized rate of 34.00% compared to the fourth quarter which was lower due to investment in state tax credits and tax advantaged assets.

“I am pleased with our start to 2015 as we are beginning to see positive impact from our merger completed last year,” said Robert R. Hill, Jr., CEO of South State Corporation.  “We experienced strong fee income growth and new customer growth.  We continue to improve our operating leverage and are making excellent progress with a bank-wide efficiency review.  This review, along with our recently announced acquisition, will provide additional momentum toward our longer term earnings goals.  We have also experienced meaningful improvement in our performance metrics, with a return on assets of 1.23% and return on tangible equity of 16.21% during the first quarter of 2015.  This level of performance has allowed us to announce an additional increase in our cash dividend to $0.24 per share, which is the fifth consecutive quarterly increase.”

Balance Sheet and Capital

At March 31, 2015, the Company’s total assets were $8.0 billion, up from $7.8 billion at December 31, 2014. Since December 31, 2014, the Company has experienced asset growth primarily in cash and cash equivalents of $212.9 million; non-acquired loans by $118.6 million and loans held for sale of $25.5 million.  During the first quarter of 2015, more of the residential mortgages were refinanced into “loans held for sale” resulting in a higher balance and record mortgage banking income.  This growth was mostly offset by acquired loan reductions of $133.5 million; OREO down by $6.6 million; and FDIC receivable down by $5.4 million.  Liabilities increased due to increases in deposits (both noninterest bearing and interest bearing) of $172.6 million and Fed funds purchased and securities sold under repurchase agreements of $55.2 million.  These increases were partially offset by redemption of Trust Preferred Securities in other borrowings of $46.3 million.

The Company’s book value per common share increased to $41.71 per share at March 31, 2015, compared to $40.78 at December 31, 2014.  Capital increased by $22.6 million due primarily to net income of $23.9 million, which was offset by the common dividend paid of $5.6 million.  Accumulated other comprehensive loss changed to a comprehensive gain, during the first quarter 2015, with the increased unrealized gains in the AFS securities portfolio during the quarter of $3.3 million, net of tax.  Tangible book value (“TBV”) per common share increased by $1.01 per share to $26.60 at March 31, 2015, from $25.59 at December 31, 2014.  This increase was primarily the result of the strong net income during the quarter, net of the dividend paid to shareholders.  In addition, tangible equity to tangible assets increased to 8.39% at March 31, 2015 up from 8.28% at December 31, 2014 and up 1.05% from March 31, 2014 when the ratio was 7.34%.

The total risk-based capital (RBC) ratio is estimated to be 13.8% down from December 31, 2014 of 14.3%.  Tier 1 leverage ratio increased slightly from December 31, 2014 to 9.5%.  The decrease in total RBC was driven by the adoption of Basel III and the redemption of $46.3 million of trust preferred securities.  These were partially offset by strong net income for the quarter.  The Company’s capital position remains “well-capitalized” by all measures at March 31, 2015.

“Our quarterly earnings are contributing significantly to our capital position, which now exceeds $1.0 billion in equity,” said John C. Pollok, COO and CFO.  “The first quarter had several events that should provide ongoing improvement in our operating results including, the redemption of $46.3 million in trust preferred securities, expiration of the commercial loss share agreement of CBT, and the auction of 70 assets in OREO.  In addition, the financial impact of the First Financial merger is evident as revenue synergies are being realized post integration.”

Asset Quality

During the first quarter of 2015, overall asset quality continued to improve.  Non-acquired NPAs, excluding acquired loans and acquired other real estate owned (OREO), declined by $2.4 million, or 6.6%, to $34.1 million.  Non-acquired nonperforming loans decreased by $942,000, or 3.3%, and non-acquired OREO decreased $1.5 million, or 19%.  Non-acquired NPAs as a percentage of total non-acquired loans and repossessed assets declined to 0.95% compared to 1.05% in the fourth quarter of 2014.  Total NPAs, including acquired NPAs, declined by $7.9 million, or 9.9% from the fourth quarter 2014 level of $79.6 million to $71.7 million at March 31, 2015.

During the first quarter, the Company reported $7.4 million in nonperforming loans related to “acquired non-credit impaired loans”.  This was a decrease of $266,000 from the fourth quarter of 2014.  Additionally, acquired nonperforming OREO and other assets owned declined by $5.5 million from December 31, 2014.

At March 31, 2015, the allowance for non-acquired loan losses was $33.5 million or 0.94% of non-acquired period-end loans.  The current allowance for loan losses provides 1.21 times coverage of period-end non-acquired nonperforming loans the same at December 31, 2014 and up from 0.93 times at March 31, 2014.  Net charge-offs (recoveries) within the non-acquired portfolio were ($54,000) for the quarter or -0.01% annualized, down from the fourth quarter of 2014 of $1.1 million or 0.13% annualized, and down from the first quarter of 2014 of $332,000, or 0.05% annualized.  During the first quarter, the allowance for loan losses was reduced by $1.1 million compared to an increase of $875,000 in the fourth quarter of 2014 through the provision for loan losses due to improvements in asset quality in the non-acquired portfolio.

During the quarter, net charge offs related to “acquired non-credit impaired loans” were $1.8 million or 0.56% annualized, and the Company recorded a provision for loan losses, accordingly.  These charge-offs consisted of

several large home equity loans on the coast of South Carolina and other consumer loans.  This was higher than the fourth quarter 2014 of $490,000, or 0.14% annualized net charge offs.

Total OREO decreased by $6.6 million during the first quarter to $36.1 million compared to the fourth quarter of 2014 of $42.7 million.  This decline was primarily the result of an auction of approximately 70 assets in early February 2015 with a carrying value of approximately $4.0 million.  Additionally, a former branch was sold at a loss of approximately $360,000 during the quarter. As a result, our OREO and loan related costs were up $494,000 during the quarter to $3.0 million compared to the fourth quarter of $2.5 million.

Net Interest Income and Margin

Non-taxable equivalent net interest income was $81.0 million for the first quarter of 2015, a net $502,000 decrease from the fourth quarter of 2014, resulting primarily from the following:

1.              A $104.7 million decrease in the average balance of acquired loans from the fourth quarter of 2014, coupled with a 25 basis point improvement in the yield resulted in a decline in interest income of $1.6 million.  The yield improvement on acquired loans from 7.68% in the fourth quarter of 2014 to 7.93% in the first quarter of 2015 was the result of improved cash flows in certain pools; offset by

2.              A $130.2 million increase in the average balance of non-acquired loans which resulted in an increase in interest income of approximately $765,000; with the yield increasing slightly to 4.10% during the first quarter from 4.08% in the fourth quarter; and

3.              The decrease in interest expense from funding sources was $880,000.  This decline was primarily the result of the decrease in other borrowings as Trust Preferred Securities of $46.3 million were redeemed in early January 2015 resulting in a decrease of interest expense of $653,000.  The expected rate paid on other borrowings should be approximately 4.70%, assuming a similar rate environment as first quarter of 2015.  The average balance of certificates of deposit declined $59.5 million and the rate declined by 5 basis points during the quarter resulting in a decrease of interest expense of $216,000.

Tax-equivalent net interest margin increased 6 basis points from the fourth quarter of 2014 and declined by 22 basis points from the first quarter of 2014.  The Company’s average yield on interest-earning assets increased 1 basis point while the average rate on interest-bearing liabilities decreased 6 basis points from the fourth quarter of 2014.  During the first quarter of 2015, the Company’s average total assets remained the same as December 31,

2014 at $7.9 billion and average earning assets remained at $6.9 billion.  Average interest-bearing liabilities remained the same at $5.2 billion for both first quarter of 2015 and fourth quarter of 2014.  Average non-interest bearing demand deposits increased by $9.2 million during the quarter and by $189.0 million from March 31, 2014.

Noninterest Income and Expense