Red Spruce Capital Dumps 35K SouthState Bank (SSB) Shares Worth $3.2 Million
Key Points
Red Spruce Capital sold 35,244 shares of SouthState Bank, valued at approximately $3.24 million
Represents a 1.3% change in 13F assets under management for the period
Post-trade stake stands at zero shares
Previously, the position accounted for 1.4% of the fund's AUM
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On October 6, 2025, Red Spruce Capital, LLC sold out its entire position in SouthState Bank (NYSE:SSB), an estimated $3.24 million trade based on average pricing for the quarter ending September 30, 2025, according to an SEC filing.
What happened
According to a filing with the U.S. Securities and Exchange Commission dated October 6, 2025, Red Spruce Capital, LLC fully liquidated its holding in SouthState Bank during the quarter. The exit covered 35,244 shares, with a transaction value of $3.24 million. The fund now reports no remaining shares in SSB.
What else to know
Red Spruce Capital, LLC, sold out of SouthState Bank(NYSE:SSB); the position now represents 0% of 13F AUM as of September 30, 2025
Top holdings after the filing:
NASDAQ:GOOGL: $15.1 million (6.2% of AUM) as of September 30, 2025
NASDAQ:BSCQ: $12.24 million (5.1% of AUM) as of September 30, 2025
NYSE:ABBV: $10.28 million (4.3% of AUM) as of September 30, 2025
NASDAQ:BSCR: $9.91 million (4.1% of AUM) as of September 30, 2025
NASDAQ:AVGO: $8.97 million (3.7% of AUM) as of September 30, 2025
As of October 3, 2025, shares of SouthState Bank were priced at $99.37, up 5.0% from October 3, 2024 to October 3, 2025, underperforming the S&P 500 by 9.58 percentage points during the same period
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.84 billion |
| Net income (TTM) | $591.66 million |
| Dividend yield | 2.19% |
| Price (as of market close October 3, 2025) | $99.37 |
Company snapshot
Offers a comprehensive suite of banking products and services, including checking and savings accounts, commercial and residential real estate loans, consumer lending, debit and credit cards, treasury management, and investment solutions.
Maintains a diversified branch network and digital channels, offering lending and fee-based services.
Serves individuals, small businesses, and commercial clients across the Southeastern United States, with a focus on regional markets in Florida, South Carolina, Alabama, Georgia, North Carolina, and Virginia.
SouthState Corporation is a regional bank holding company operating in the Southeastern U.S. Through a network of 281 branches as of December 31, 2021, and digital platforms, it provides a broad range of financial services to retail and commercial customers. The company employs a diversified business model within the regional banking sector.
Foolish take
In January, SouthState Bank closed on an acquisition of Independent Bank Group in an all-stock transaction valued at approximately $2 billion. Merging with the Texas-headquartered bank increased SouthState's asset size to about $65 billion.
Despite taking on new shares to complete its acquisition of Independent Bank Group, SouthState was able to raise its dividend by a healthy 11% and further raises could be on the table. Over the past 12 months, the bank earned $6.73 per share. That's heaps more than it needs to meet a dividend obligation currently set at $2.40 annually.
SouthState Bank has raised its dividend payout for 14 consecutive years. It's risen by an outstanding 131% over the past decade.
The 2.4% yield the stock offers today might not be particularly thrilling. With a rapidly rising dividend payout, though, it could produce heaps of passive income once you're ready to retire.
Glossary
13F assets under management (AUM): The total value of securities reported by an institutional investment manager in quarterly SEC Form 13F filings.
Liquidated: Sold off an entire investment position, reducing the holding to zero.
Fund's AUM: The total market value of assets that a fund manages on behalf of clients.
Stake: The ownership interest or position held in a particular company or asset.
Quarter: A three-month period used for financial reporting and analysis, often denoted as Q1, Q2, Q3, or Q4.
Dividend yield: Annual dividend income expressed as a percentage of the current share price.
Branch network: The system of physical bank locations operated by a financial institution.
Fee-based services: Financial services for which a bank charges a fee, rather than earning interest.
Regional bank holding company: A corporation that owns and controls one or more banks operating primarily in a specific geographic area.
TTM: The 12-month period ending with the most recent quarterly report.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AbbVie and Alphabet. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.
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