As previously disclosed, on January 25, 2020, South State Corporation and CenterState Bank Corporation entered into an Agreement and Plan of Merger, providing for the merger of the Company and CenterState (the “Merger”), subject to the terms and conditions set forth therein. South State Corporation and CenterState Bank Corporation announced the Board of Directors designated to serve the combined company upon completion of the merger. The Board of the new company will consist of 16 directors, eight current South State directors and eight current CenterState directors.

South State Directors: Robert R. Hill, Jr.; Jean E. Davis; Martin Bernard Davis; Robert H. Demere, Jr.; Cynthia A. Hartley; Robert R. Horger; John C. Pollok; Kevin P. Walker; CenterState Directors: John C. Corbett; John H. Holcomb, III; Charles W. McPherson; G. Ruffner Page, Jr.; Ernest S. Pinner; William Knox Pou, Jr.; David G. Salyers; Joshua A. Snively. Robert R. Hill, Jr., President and CEO of South State Corporation, will serve as Executive Chairman of the combined company. John Corbett, CEO of CenterState Bank Corporation, will serve as CEO of the combined company.

The merger is expected to close in the third quarter of 2020, subject to satisfaction of customary closing conditions, including receipt of customary regulatory approvals and approval by the shareholders of each company.