Core Viewpoint - South Atlantic Bancshares, Inc. has declared a cash dividend of $0.10 per share, marking its fourth consecutive annual cash dividend, reflecting a strong performance in 2025 and positive momentum entering 2026 [1][2]. Company Overview - South Atlantic Bancshares, Inc. is a registered bank holding company based in Myrtle Beach, South Carolina, with total assets of approximately $1.9 billion as of December 31, 2025 [2]. - The company's banking subsidiary, South Atlantic Bank, operates twelve locations across the coastal area of South Carolina and provides a full range of personalized community banking services [2]. Services Offered - South Atlantic Bank offers various consumer and commercial banking products, including mortgage services, treasury management, mobile banking through South Atlantic Bank goMobile, internet banking, no-fee ATM access, checking accounts, certificates of deposit, money market accounts, and merchant services [2]. Investor Information - The company maintains an investor relations section on its website, providing access to annual meeting materials, annual reports, and quarterly earnings reports free of charge [3]. - Important information for investors is routinely posted on the company's website, which is used to disclose material non-public information and comply with OTC Markets Group rules [4].

Core Viewpoint - South Atlantic Bancshares, Inc. has appointed Jason Caskey to its Board of Directors, effective January 20, 2026, where he will also serve on the Audit Committee [1][4]. Group 1: Appointment Details - Jason Caskey has been the President and CEO of the University of South Carolina Foundations since 2018, leading both the USC Educational Foundation and the USC Development Foundation [2]. - Caskey is a certified public accountant with 28 years of experience in audit and advisory services for financial institutions in the Southeast [2]. - He has held leadership roles in various organizations, including Vice Chair of the Board of Directors and Chair of the Audit Committee at the SC Student Loan Corporation [3]. Group 2: Company Overview - South Atlantic Bancshares, Inc. is a registered bank holding company based in Myrtle Beach, South Carolina, with approximately $1.9 billion in total assets as of December 31, 2025 [5]. - The company's banking subsidiary, South Atlantic Bank, operates twelve locations across the coastal area of South Carolina, providing personalized community banking services [5]. - Services offered by South Atlantic Bank include a full range of consumer and commercial banking products, such as mortgage and treasury management, along with mobile and internet banking options [5].

Core Viewpoint - South Atlantic Bancshares, Inc. reported strong financial performance for the fourth quarter and full year of 2025, with record net income and significant growth in key financial metrics, indicating a robust banking strategy and effective balance sheet management [1][3]. Financial Highlights - The company achieved consolidated net income of $4.8 million, or $0.62 per diluted common share, for Q4 2025, up from $4.4 million, or $0.57 per diluted common share, in Q3 2025 [1][5]. - For the year ended December 31, 2025, net income totaled $16.2 million, a 60.8% increase from $10.1 million in 2024 [5][6]. - Return on average assets for Q4 2025 was 1.02%, while return on average equity was 14.25% [5][25]. Balance Sheet Performance - Total assets increased by $130 million to $1.9 billion, a 7.3% rise from the previous year [13][6]. - Total loans grew by $127.5 million, or 9.5%, and total deposits increased by $93.7 million, or 6.4%, year-over-year [6][14]. - Tangible book value per share rose by $2.58, or 18.0%, to $16.88 as of December 31, 2025 [16][15]. Income and Expense Analysis - Net interest income for Q4 2025 increased by $2.7 million, or 22.5%, compared to Q4 2024, driven by higher interest income from loans [7][8]. - Noninterest income decreased by $217,000, or 11.5%, in Q4 2025 compared to Q4 2024, primarily due to a decline in other income [9][10]. - Noninterest expense increased by $494,000, or 5.3%, in Q4 2025 compared to the same period in 2024, mainly due to higher salaries and employee benefits [9][10]. Credit Quality - The company reported no loans classified as non-accrual and no loans past due greater than 30 days as of December 31, 2025, indicating strong credit quality [21][22]. - A provision for credit losses of $600,000 was recorded in Q4 2025, compared to $450,000 in Q3 2025 [21][22]. Regulatory Capital Position - The bank's capital position remains strong, with a total risk-based capital ratio of 12.18% and a leverage ratio of 9.19% as of December 31, 2025, exceeding regulatory requirements [26].

Core Viewpoint - South Atlantic Bancshares, Inc. reported strong financial performance for the third quarter of 2025, with net income increasing significantly compared to both the previous quarter and the same quarter last year, reflecting the strength of its core banking operations and effective execution across markets [1][2][5]. Financial Performance - Consolidated net income for Q3 2025 was $4.4 million, or $0.57 per diluted share, up 18.9% from $3.7 million, or $0.48 per diluted share in Q2 2025 [1][5]. - For the nine months ended September 30, 2025, net income totaled $11.4 million, a 65.6% increase from $6.9 million in the same period of 2024 [5][11]. - Total assets increased by $104.2 million to $1.9 billion, representing a 5.8% increase since December 31, 2024 [11][12]. Loan and Deposit Activity - Total loans decreased slightly by 2.2% quarter-over-quarter to $1.43 billion, while total deposits fell by 6.6% to $1.59 billion, attributed to seasonal factors and reduced brokered funding [3][11]. - Year-over-year, total loans grew by 11.2% and total deposits increased by 8.0% compared to the same period in 2024 [3][11]. Interest Income and Expense - Net interest income rose by $3.1 million, or 27.2%, to $14.6 million for Q3 2025 compared to $11.5 million in Q3 2024, driven by increased loan yields [4][6]. - Interest expense decreased by $1.3 million, or 11.1%, due to lower interest rates on deposits and reduced short-term borrowings [6][15]. Noninterest Income and Expense - Noninterest income increased by $212,000, or 13.4%, for Q3 2025, primarily from higher secondary mortgage income and service charges [7][8]. - Noninterest expense rose by $1.4 million, or 15.7%, driven by increased salaries and employee benefits, as well as higher data processing costs [7][8]. Credit Quality - The company reported excellent credit quality with no loans classified as non-accrual and only one loan past due greater than 30 days as of September 30, 2025 [16][17]. - A provision for credit losses of $450,000 was recorded for Q3 2025, down from $625,000 in Q2 2025 [17][19]. Shareholder Equity - Shareholders' equity increased to $128.6 million, a 13.0% rise from December 31, 2024, primarily due to retained earnings and stock repurchases [12][14]. - Tangible book value per share increased by $1.02, or 6.6%, to $16.49 as of September 30, 2025 [5][12].

Financial Performance - South Atlantic Bancshares, Inc. reported consolidated net income of $3.7 million, or $0.48 per diluted common share, for Q2 2025, an increase of 10.5% from Q1 2025 and a 62.0% increase from Q2 2024 [1][5] - For the six months ended June 30, 2025, net income totaled $7.0 million, or $0.91 per diluted common share, compared to $4.3 million, or $0.56 per diluted common share for the same period in 2024 [1][4] Balance Sheet Highlights - Total assets increased to $1.87 billion as of June 30, 2025, a 0.5% increase from March 31, 2025, and a 7.0% increase from June 30, 2024 [4][14] - Total loans grew by $53.7 million during Q2 2025, a 15.5% increase from Q1 2025, and by $213.8 million, or 17.5%, compared to June 30, 2024 [4][14] - Total deposits increased by $47.6 million in Q2 2025, a 12.1% increase from Q1 2025, and by $203.5 million, or 14.4%, compared to June 30, 2024 [4][15] Interest Income and Expense - Net interest income for Q2 2025 increased by $2.9 million, or 27.5%, to $13.4 million compared to Q2 2024 [7] - For the six months ended June 30, 2025, net interest income rose by $5.6 million, or 27.1%, to $26.2 million compared to the same period in 2024 [8] Noninterest Income and Expense - Noninterest income increased by $322.0 thousand, or 22.5%, in Q2 2025 compared to Q2 2024, driven by higher secondary mortgage income and service charges [9] - Noninterest expense rose by $1.1 million, or 12.0%, in Q2 2025 compared to Q2 2024, primarily due to increased other noninterest expenses [10] Credit Quality - The company reported no loans classified as non-accrual and only one loan past due greater than 30 days as of June 30, 2025 [22] - The provision for credit losses was $625 thousand for Q2 2025, compared to $397 thousand for Q1 2025 [22] Capital Position - Shareholders' equity totaled $121.1 million as of June 30, 2025, an increase of 6.4% from December 31, 2024, primarily due to retained earnings [16] - The company maintains a total risk-based capital ratio of 11.68% and a leverage ratio of 8.73% as of June 30, 2025, indicating a strong capital position [26][27]