South Atlantic Bancshares Inc Stock Price, News & Analysis

South Atlantic Bancshares (OTCQX: SABK) reported Q3 2025 net income of $4.4M or $0.57 diluted EPS, up 18.9% sequentially and 68.3% versus Q3 2024. For the nine months ended Sept 30, 2025, net income was $11.4M or $1.48 diluted EPS, rising 65.6% and 64.4% respectively versus the prior year period.

Key drivers include a 27.2% rise in net interest income, loan portfolio growth (loans +11.2% YoY) and a targeted securities sale to fund higher-yielding loans. Tangible book value per share rose to $16.49 (15.3% YoY). Noninterest expense and provisions increased year-to-date, while investment income declined after the securities sale.

South Atlantic Bancshares (OTCQX:SABK) reported strong Q2 2025 financial results with net income of $3.7 million, or $0.48 per diluted share, a 10.5% increase from Q1 2025. For the first half of 2025, net income reached $7.0 million, a 64% increase year-over-year.

Key highlights include total assets growing to $1.9 billion, a 9.3% annualized increase, with loans expanding by $53.7 million (3.9%) in Q2 and deposits growing by $47.6 million (3.0%). The bank successfully reduced short-term borrowings by $50 million (38.5%) and implemented a stock repurchase program, completing an aggregate repurchase of 112,023 shares during the quarter.

The company's net interest margin improved by 4 basis points, while cost of funds decreased by 6 basis points. The bank maintained pristine credit quality despite executing targeted balance sheet restructuring, including strategic securities sales to redeploy capital into higher-yielding loans.

South Atlantic Bancshares (OTCQX: SABK) has announced a new stock repurchase program authorizing the buyback of up to 378,613 shares of its common stock. The program will run for 12 months until June 11, 2026, with repurchases conducted through open market purchases and private transactions. The company will execute the buybacks in accordance with Rule 10b-18 and may implement a Rule 10b5-1 trading plan. The timing, manner, and amount of repurchases will be influenced by factors including stock price performance, market conditions, legal requirements, and fund availability. The program includes flexibility for the company to begin, suspend, or terminate repurchases at its discretion, with no obligation to repurchase any specific number of shares.

South Atlantic Bancshares (SABK) reported strong Q1 2025 financial results with consolidated net income of $3.3 million, or $0.43 per diluted share, marking a 66.3% increase from Q1 2024. The bank demonstrated robust growth with:

- Total assets increased by $81.4 million to $1.9 billion (4.6% increase)
- Total loans grew by $41.7 million (12.5% annualized)
- Total deposits increased by $107.3 million (29.4% annualized)
- Net interest margin improved by 22 basis points to 3.05%
- Cost of funds declined by 12 basis points to 2.46%

The bank's tangible book value per share rose to $14.91, representing a 4.3% increase from December 2024 and a 14.2% increase year-over-year. Credit quality remained strong across the franchise, with continued growth momentum in all markets.

South Atlantic Bancshares (OTCQX: SABK) has announced a cash dividend of $0.10 per share on its common stock. The dividend will be paid on February 28, 2025, to shareholders of record as of February 14, 2025.

This marks the company's third consecutive annual cash dividend since initiating dividend payments in Q1 2023. Chairman and CEO K. Wayne Wicker noted that despite facing headwinds in the first half of 2024, the company finished the year strong and is entering 2025 with solid momentum.

South Atlantic Bancshares (OTCQX: SABK) reported Q4 2024 net income of $3.2 million ($0.41 per diluted share), up 21.7% from Q3 2024 ($2.6 million) and 44.5% from Q4 2023 ($2.2 million). For full-year 2024, net income reached $10.1 million ($1.31 per diluted share) compared to $10.0 million in 2023.

Key financial highlights include: total assets increased 10.1% to $1.8 billion in 2024; total loans grew 13.1% to $1.34 billion; deposits increased 12.9% to $1.46 billion; and tangible book value per share rose 11.8% to $14.30. The bank's net interest margin improved to 2.83% in Q4 2024, up 12 basis points from Q3, while cost of funds decreased by 19 basis points to 2.58%, marking the first quarterly decline since March 2022.

Credit quality remained strong with minimal non-performing assets and the bank maintained well-capitalized status with a total risk-based capital ratio of 11.87%.

K. Wayne Wicker, chairman and CEO of South Atlantic Bank, has been elected treasurer of the 2024-2025 American Bankers Association (ABA) board of directors. Wicker, who has served on the ABA board since 2022, brings over 37 years of banking experience and currently serves on the South Carolina State Board of Financial Institutions. He is also a past chairman of the South Carolina Bankers Association. Wicker holds a B.S. in business administration from The Citadel and completed banking studies at LSU and USC. He is a former South Carolina Air National Guard member and Gulf War veteran.

South Atlantic Bancshares (OTCQX: SABK) reported Q3 2024 net income of $2.6 million, or $0.34 per diluted share, up 14.4% from Q2 2024's $2.3 million. Key highlights include:

- Total assets increased $176.1 million to $1.8 billion (14.5% annualized growth)
- Total loans grew $62.7 million (20.5% annualized)
- Total deposits increased $59.6 million (16.9% annualized)
- Net interest margin improved 7 basis points to 2.71%
- Tangible book value per share rose 22.6% YoY to $14.38

The bank maintains strong credit quality with minimal non-performing assets and capital levels above 'well-capitalized' thresholds, with a total risk-based capital ratio of 12.01%.

K. Wayne Wicker, chairman and CEO of South Atlantic Bank (SABK), has been nominated for treasurer of the American Bankers Association (ABA) board of directors for 2024-2025. Wicker, who has served on the ABA board since 2022, brings over 37 years of banking experience to the role. He currently serves on the South Carolina State Board of Financial Institutions and is a past chairman of the South Carolina Bankers Association.

Wicker's credentials include a B.S. in business administration from The Citadel and completion of prestigious banking programs. The election for this position will take place at the ABA's annual meeting on October 29 in New York City.