South State Commits $600,000 to COVID-19 Relief

Staff Report From South Carolina CEO

Monday, May 4th, 2020

South State Bank announced that it will donate $600,000 to the South State Emergency Relief Fund to directly aid communities and individuals affected by COVID-19. In addition, South State continues to support its team members, customers and communities through various support programs and efforts, including the Small Business Administration (SBA) Paycheck Protection Program.

“We feel very fortunate to be able to provide assistance during this time of need. Our company was born out of the Great Depression, and we stood ready then, as we do today, to serve as a source of strength to help individuals, businesses and communities as they recover – both personally and financially. This donation to our South State Fund will offer localized assistance directly to the communities we serve and the areas of greatest need,” said Robert R. Hill, Jr., South State Corporation president and chief executive officer. “Through the unwavering commitment and focus of our team, thus far, we have helped nearly 6,000 businesses receive almost $900 million through the SBA Paycheck Protection Program. I’m very proud of our team and pleased we could offer assistance to businesses that are the very fabric of our communities.”

Through its contribution to the Emergency Relief Fund, South State will be partnering with nonprofit organizations to provide financial assistance directly to the communities it serves.

South State is also continuing to support small businesses and customers through payment deferrals on loans and mortgages, as well as through the second round of Paycheck Protection Program funding, which began on April 27.

In addition, South State remains committed to the health and safety of its team members. South State is currently operating branches in a drive-thru and appointment-only service format. As a form of gratitude, South State has provided bonus payments for team members who continue to serve customers at its branches during this time.