• SouthState average debt/equity ratio for 2023 was 0.11, a 120% decline from 2022.
• SouthState average debt/equity ratio for 2022 was 0.05, a 50% increase from 2021.
• SouthState average debt/equity ratio for 2021 was 0.1, a 64.29% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.