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South State to close 3 locations in H2'16

Columbia, S.C.-based SouthState Corp. disclosed in its most recent earnings release that the companyclosed eight locations during the second quarter, and plans to close three moreduring the third and fourth quarters.

The company's board of directors also increased the company'squarterly cash dividend to 31 cents per share.

The dividend, payable Aug. 19 to shareholders of record as ofAug. 12, represents an increase of approximately 3.3% over the previously announcedquarterly dividend of 30 cents per share.

South State reported second-quarter net income of $24.5 million,or $1.01 per diluted share, compared to $24.9 million, or $1.03 per diluted share,in the same period a year ago.