South State : Bank Announces Disaster Recovery Programs

(COLUMBIA - November 2, 2016) South State Bank will provide assistance to individuals affected by Hurricane Matthew by introducing new disaster recovery programs for customers.

The Disaster Relief Personal Loan and Catastrophe Savings Account (CSA) are designed to assist customers with recovery efforts following the recent hurricane and subsequent flooding. The programs are available in the counties designated for federal disaster relief.

'Hurricane Matthew had significant impact to many of the communities we serve,' said John F. Windley, President & CEO of South State Bank. 'We have developed programs and services to assist our customers in the affected areas. We are committed to providing assistance to help people through the recovery effort.'

The Disaster Relief Personal Loan includes low rates and special terms to help individuals get the funds they need to recover more quickly. The features of this loan include flexible terms, which will allow individuals to borrow up to $50,000 to help with needs incurred as a result of the recent hurricane. This loan is unsecured, meaning it will not leverage a customer's home or other assets.

The Catastrophe Savings Account (CSA) is designed for South Carolina residents to save money to help alleviate the financial burden of a future disaster. A CSA can help customers pay for qualified catastrophic expenses that result from a hurricane, flood or other catastrophic event declared an emergency by FEMA. In South Carolina, the money placed in a CSA and the annual interest on that money are not subject to state income taxes if left in the account or used for qualified catastrophe expenses. Qualified expenses include insurance deductibles, out-of-pocket costs resulting from the catastrophe and uninsured loss resulting from the catastrophe. This account is limited to South Carolina residents.

The Disaster Relief Personal Loan and the Catastrophe Savings Account are available to consumers from Oct. 24, 2016 through Jan. 31, 2017. For additional information, visit SouthStateBank.com or a local South State branch, or call Customer Care at 1-800-277-2175.

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 24 South Carolina counties, 13 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 $8.8 billion and its stock is traded under the symbol SSB on the NASDAQ Global Select Market. More information can be found atwww.SouthStateBank.com. South State Bank is an equal housing lender.