South State Bank is headquartered in Columbia and is the largest bank in the state of South Carolina. It is also the 131st largest bank in the nation. It was established in 1934 and as of March of 2016, it had grown to 2,039 employees at 134 locations. South State Bank has an A+ health rating.
I joined south state Bank (known as first federal at the time) a little over a year ago. After a bad relationship with a previous bank I was a little nervous about trusting another bank. From the very beginning their employees were very friendly, patient, and willing to help. They helped me pick the best account to suit me, which just happen to be their first free checking. So I was happy to have a checking account with no monthly fee. I never had any problems with them at all and when it came time to find a new car they provided me with a loan at only 1.99 Apr. It has been well over a year and still love this bank.
Here is why you should not use SCBT (South Carolina Bank & Trust). A month ago, I traveled from Las Vegas to Los Angeles for the weekend, and my debit card got blocked after one transaction. I couldn't reactivate it because the customer service helpline runs only during the weekdays and on Saturday from 8:00-2:00pm. Stuck without money, since it happened after 2:00pm on Saturday, I had to wait and borrow money just to get home. This happened AGAIN this past week in San Francisco, and again, the customer service hotline was closed so I had to borrow money to get home. I sent this message to them in reply,
"Hello. I am contacting you again because of SCBT's lack of urgency to help one of their long term patrons. I am currently stranded in San Francisco with no cash. Why? Because SCBT deactivated my card again. I have no way of mitigating the situation because the customer disservice helpline is closed for another 24 hours. I am hungry, helpless, and it is all due to what I am sure will be explained as a "safety protocol". Have I mentioned that the exact same thing happened a month ago when I traveled to Los Angeles for work? I keep trying to find a way to rate your services, but I cannot find a selection for "negative five stars". Get your act together SCBT, not because I plan to remain as a patron to your excuse for a business, but rather so that future unfortunate patrons don't experience the same egregious customer service that I am experiencing right now. Do you roger that?"
If you have had any similar experiences with this bank, please share this.
Do not ever use them if you value customer service. We purchased tickets for the the Wings Over North Georgia air show (that was rain or shine) and they cancelled the show due to rain and would not refund our tickets-Wings Over North Georgia said we could drive back to Rome the following day (4 hour drive and rain prediction that day as well) or we could go next year...so I opened a dispute to get my money back with South State. South State denied my dispute by saying that it was "clearly stated on the website that there were no refunds"...I was like, "Well it was also clearly stated on the website it was rain or shine and they cancelled the show"...she said that it didn't matter the decision was made and that the case was closed. I even told her that I would be leaving the back because I felt this was poor customer service and all she said was "Is there anything else I can help you with today?". I'm canceling my account for a bank that will take better care of my money.
|FDIC Certificate #||13425|
|Return on Assets - YTD||1.2%|
|Return on Equity - YTD||9.39%|
|Annual Interest Income||$83.8MM|
|Assets and Liabilities|
|Assets||Q1 2016vs Q1 2015||$8.68B$8.02B|
|Loans||Q1 2016vs Q1 2015||$6.16B$5.75B|
|Deposits||Q1 2016vs Q1 2015||$7.18B$6.65B|
|Equity Capital||Q1 2016vs Q1 2015||$1.11B$1.04B|
|Loan Loss Allowance||Q1 2016vs Q1 2015||$39.0MM$38.3MM|
|Unbacked Noncurrent Loans||Q1 2016vs Q1 2015||$39.1MM$84.9MM|
|Real Estate Owned||Q1 2016vs Q1 2015||$21.7MM$24.1MM|
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