The Bank Slate


SouthState in Fla. reports cybersecurity incident

SouthState in Winter Haven, Fla., was the victim of a cyberattack.


The $44.9 billion-asset company disclosed in a regulatory filing that its bank was hit on Feb. 6.


The company said it initiated “incident response and business continuity protocols” and began taking measures to disrupt the unauthorized activity. It isolated parts of its network, resulting in some disruption to business processes.


Operations continued throughout this process in all material respects, and SouthState said it is conducting a thorough investigation and hired a cybersecurity firm. Banking regulators and law enforcement were notified.


“While the investigation is ongoing … the incident has not had a material impact on the company’s operations,” the filing said. SouthState “has not determined the incident is reasonably likely to materially impact … financial conditions or results of operations.”

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