Welcome to our dedicated page for South Atlantic Bancshares news (Ticker: SABK), a resource for investors and traders seeking the latest updates and insights on South Atlantic Bancshares stock.
South Atlantic Bancshares, Inc. reports news as the registered bank holding company for South Atlantic Bank, a full-service community banking institution serving coastal South Carolina. Company updates center on quarterly and annual earnings, net interest income, loan portfolio activity, deposit and funding costs, and fee income from mortgage, merchant, interchange, service charge, and treasury management activities.
Recurring announcements also cover capital actions such as cash dividends and stock repurchase authorizations, governance changes involving the board and audit committee, and business updates tied to consumer and commercial banking, deposit products, mortgage lending, digital banking, remote deposit capture, and other banking services.
South Atlantic Bancshares (OTCQX: SABK) reported consolidated net income of $4.5 million, or $0.58 diluted EPS for Q1 2026, up 33.9% year‑over‑year. Total assets were $1.93 billion, loans totaled $1.48 billion, and tangible book value per share rose to $17.53.
Net interest margin was 3.24%, cost of funds remained 2.25%, and deposits increased on an annualized basis during the quarter.
South Atlantic Bancshares (OTCQX: SABK) declared a cash dividend of $0.10 per share on common stock. The dividend is payable February 27, 2026 to shareholders of record as of the close of business on February 13, 2026. Management noted this is the company's fourth consecutive annual cash dividend following a record 2025 performance.
South Atlantic Bancshares (OTCQX: SABK) announced the appointment of Jason Caskey to its Board of Directors, effective January 20, 2026. Caskey will serve on the company's Audit Committee.
Caskey has been President and CEO of the University of South Carolina Foundations since 2018, is a certified public accountant, and spent 28 years providing audit and advisory services to financial institutions, including 12 years as Financial Services Practice Leader at Elliott Davis.
The company noted there are no agreements, family relationships, or related party transactions between Caskey and the company.
South Atlantic Bancshares (OTCQX: SABK) reported consolidated net income of $16.17 million for the year ended December 31, 2025, or $2.10 diluted EPS, up 60.8% and 60.3% respectively versus 2024. Fourth-quarter net income was $4.76 million or $0.62 diluted EPS. Key drivers included a 25.9% rise in net interest income to $55.55 million, loan growth of 9.5% to $1.466 billion, total assets up 7.3% to $1.917 billion, and tangible book value per share up 18.0% to $16.88.
South Atlantic Bank (NASDAQ: SABX) announced that K. Wayne Wicker, chairman and CEO, was elected treasurer of the American Bankers Association board of directors for the 2025-2026 association year on Oct. 27, 2025. Wicker has served on the ABA board since 2022 and as treasurer since 2024, and brings more than 38 years of banking experience.
Wicker serves on the South Carolina State Board of Financial Institutions, is a past chairman of the South Carolina Bankers Association, and holds a B.S. in business administration from The Citadel.
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 (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.