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South Atlantic Bancshares Inc - SABK STOCK NEWS

Welcome to our dedicated news page for South Atlantic Bancshares (Ticker: SABK), a resource for investors and traders seeking the latest updates and insights on South Atlantic Bancshares.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect South Atlantic Bancshares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of South Atlantic Bancshares's position in the market.

News
South Atlantic Bancshares, Inc. Reports Earnings of $0.26 per Diluted Common Share for the Quarter Ended March 31, 2024
Rhea-AI Summary
South Atlantic Bancshares, Inc. reported consolidated net income of $2.0 million, or $0.26 per diluted common share, for the first quarter ended March 31, 2024. Total assets increased to $1.69 billion, total deposits grew to $1.34 billion, and cash and cash equivalents increased significantly. The company experienced a slight decrease in net income compared to the previous quarter. Despite stable margin levels, there was margin compression due to interest rate pressures. The focus on core deposit relationships led to annualized deposit and loan growth. Shareholders' equity increased, and tangible book value per share grew. The Company's credit quality remained strong with minimal non-performing assets. Regulatory capital ratios indicated a well-capitalized position.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.03%
Tags
earnings
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News
South Atlantic Bancshares, Inc. Declares Cash Dividend
Rhea-AI Summary
South Atlantic Bancshares, Inc. (SABK) has declared a cash dividend of $0.10 per share on its common stock, payable on February 28, 2024. The Company's Chairman and CEO, K. Wayne Wicker, expressed satisfaction with the Company's performance in 2023, despite the challenging banking industry environment. This marks the second consecutive cash dividend following the inaugural cash dividend payment in the first quarter of 2023.
Rhea-AI Impact
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End-of-Day
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News
South Atlantic Bancshares, Inc. Reports Earnings of $1.32 per Diluted Common Share for the Year Ended December 31, 2023
Rhea-AI Summary
South Atlantic Bancshares, Inc. reported a consolidated net income of $2.2 million for the three months ended December 31, 2023, and $10.0 million for the twelve months ended December 31, 2023. The company experienced a slight increase in net income for the fourth quarter of 2023 compared to the third quarter of 2023, but a 17.2% decrease in net income for the twelve months ended December 31, 2023 compared to the previous year. Total deposits grew by 6.4% to $1.3 billion at December 31, 2023, and total assets increased by 14.8% during the year ended December 31, 2023. The company's interest income on loans and investments increased by 42.8% during the year ended December 31, 2023. Tangible book value per share at December 31, 2023, increased by 13.6% since December 31, 2022.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.32%
Tags
earnings
News
South Atlantic Bank Named One of "America's Best Regional Banks and Credit Unions 2024" by Newsweek
Rhea-AI Summary
South Atlantic Bank (SABK) has been recognized as one of 'America's Best Regional Banks and Credit Unions 2024' by Newsweek, based on a study of over 9,000 regional banks in the US. The bank was awarded a five-star rating for its profitability, financial relevance, risk exposure, and overall health and stability. Chairman and CEO K. Wayne Wicker expressed gratitude for the recognition and emphasized the bank's focus on meeting the unique financial needs of coastal communities in South Carolina.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.12%
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none
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News
South Atlantic Bancshares, Inc. Reports Earnings of $0.29 per Diluted Common Share For the Three Months Ended September 30, 2023
Rhea-AI Summary
South Atlantic Bancshares reports Q3 net income of $2.2 million, a decrease of 3.4% from the same period last year. Total deposits grew by $25.3 million for the quarter, a 9.5% increase year-to-date. Interest income on loans and investments increased by 37.6% compared to Q3 2022. Total assets increased by $25.9 million to $1.6 billion, a 13.0% increase year-over-year. Total loans increased by $40.9 million during the quarter, a 14.9% increase since December 31, 2022. Year-to-date tangible book value per share increased by 5.2%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.97%
Tags
earnings
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News
South Atlantic Bancshares, Inc. Reports Earnings of $0.41 per Diluted Common Share For the Three Months Ended March 31, 2023
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.16%
Tags
earnings
News
South Atlantic Bancshares, Inc. Reports Record Earnings of $1.57 per Diluted Common Share for the Year Ended December 31, 2022
Rhea-AI Summary
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End-of-Day
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South Atlantic Bancshares, Inc. Declares First Cash Dividend
Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
0.81%
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dividends
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News
South Atlantic Bancshares, Inc. Names Minter Chief Operating Officer
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South Atlantic Bancshares, Inc. Reports Record Earnings of $0.47 per Diluted Common Share for the Three Months Ended September 30, 2022
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.76%
Tags
earnings
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South Atlantic Bancshares Inc

OTC:SABK

SABK Rankings

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SABK Stock Data

81.16M
5.08M
19.48%
Commercial Banking
Finance and Insurance
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United States
Myrtle Beach