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South Atlantic Bank

Myrtle Beach, SC · Cert 58689 · South Atlantic Bancshares Inc.

State charter, non-member · FDIC · 12 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets operating in a single state3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks $1B-$10B in assets operating in a single state (n=257 to 258). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

23

Q2 2024Q2 2026peer median (50)

Asset Quality

96

Q2 2024Q2 2026peer median (50)

Profitability

37

Q2 2024Q2 2026peer median (50)

Liquidity

68

Q2 2024Q2 2026peer median

Efficiency

53

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

South Atlantic Bank

Myrtle Beach, SC · Cert 58689 · South Atlantic Bancshares Inc.

State charter, non-member · FDIC · 12 branches

Q2 2026

$2.0BAssets
$1.5BLoans
$1.7BDeposits
$171.0MEquity
Loan mix
94%RE $1.4B5%C&I $0.1B0%Consumer $0.0BQ3 2024Q2 2026
Deposit mix
78%Interest-bearing $1.3B22%Noninterest $0.4BQ3 2024Q2 2026

Market Position · Myrtle Beach-Conway-North Myrtle Beach, SC · 2026 SOD (annual) · 6.2% share · #9 of 21 inst. · $0.7B of $12.1B

6.2% Horry
16.8% Georgetown
4.6% Beaufort
1.1% Charleston

Executive Summary

  • Earnings: ROA of 1.07%, up 20 bps year over year; NIM at 3.11%.
  • Asset quality: problem loans at 0.01% of loans (+1 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 9.42%, up 68 bps from a year ago.
  • Funding: loans stand at 91.95% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.07%+20 bps YoY

Net Interest Margin (YTD, annualized)

3.11%+23 bps YoY

Efficiency Ratio (YTD, annualized)

59.17%-464 bps YoY

Tier 1 Leverage Ratio

9.42%+68 bps YoY

NIM

4.79%Q2 ’244.99%Q2 ’255.02%Q2 ’26+18%+8%

Non-interest income vs. expense

1.96%Q2 ’242.04%Q2 ’252.04%Q2 ’26+2%-1%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.64%0.68%0.83%0.87%0.92%0.93%1.05%1.07%+20 bps
Return on Equity8.40%8.96%10.84%11.14%11.71%11.58%12.29%12.47%+133 bps
Net Interest Margin2.43%2.51%2.88%2.88%2.94%3.04%3.06%3.11%+23 bps
Efficiency Ratio69.85%68.42%64.82%63.81%62.82%61.41%59.99%59.17%-464 bps
Non-Interest Burden1.60%1.62%1.76%1.71%1.71%1.72%1.69%1.69%-2 bps
Growth
Asset Growth (YoY)16.04%10.31%11.90%7.06%5.11%7.42%3.43%6.03%-103 bps
Loan Growth (YoY)13.10%13.24%14.57%17.47%11.06%9.99%7.24%7.58%-989 bps
Deposit Growth (YoY)12.67%12.63%16.90%14.19%7.77%6.23%1.51%3.70%-1,049 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%+1 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.92%0.92%0.92%0.89%0.92%0.93%0.95%0.95%+6 bps
Allowance Coverage of NPLs470.4x222.7xn/an/an/an/an/a111.5xn/a
Capital
Tier 1 Leverage Ratio8.36%8.49%8.67%8.74%8.86%9.19%9.27%9.42%+68 bps
Total Risk-Based Capital12.01%11.74%11.70%11.74%12.23%12.15%12.32%12.21%+47 bps
Equity / Assets7.68%7.71%7.70%7.92%8.25%8.41%8.61%8.64%+72 bps
Liquidity & Funding
Loans / Deposits86.91%91.24%87.69%88.64%89.56%94.47%92.64%91.95%+332 bps
Liquid Assets / Assets10.88%7.80%9.16%7.43%8.65%7.59%7.62%6.92%-50 bps
CRE / Total Capitaln/an/an/an/a480%488%483%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

South Atlantic Bank

Myrtle Beach, SC · Cert 58689 · Peer group: banks $1B-$10B in assets operating in a single state (n=257-258) · South Atlantic Bancshares Inc.

State charter, non-member · FDIC · 12 branches

Q2 2026

$2.0BAssets
$1.5BLoans
$1.7BDeposits
$171.0MEquity

Executive Summary

  • Strongest standing: nonperforming loans / loans outperforms 97% of banks $1B-$10B in assets operating in a single state (rank 8 of 258).
  • Widest gap: equity / assets trails 84% of banks $1B-$10B in assets operating in a single state (rank 218 of 258).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

1.05%

Rank 167 of 258

Net Interest Margin

3.11%

Rank 199 of 258

Efficiency Ratio

59.17%

Rank 121 of 257

Equity / Assets

8.64%

Rank 218 of 258

Non-interest income vs. expense

$6.7M$39.5MINCOMEEXPENSE
Unfavorable gap of $32.8M · efficiency ratio beats 53% of banks $1B-$10B in assets operating in a single state
Bank 59.17%Peer median 60.3%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRank8-Qtr TrendPeer Position
Earnings
Return on Assets1.05%0.93%1.23%1.54%Beats 35%167 / 258
Return on Equity12.11%9.26%11.84%14.74%Beats 52%124 / 258
Net Interest Margin3.11%3.16%3.49%3.88%Beats 23%199 / 258
Efficiency Ratio59.17%51.71%60.30%69.65%Beats 53%121 / 257
Asset Quality
Nonperforming Loans / Loans0.01%0.19%0.46%0.90%Beats 97%8 / 258
Net Charge-Offs / Loans0.00%0.01%0.02%0.07%Beats 94%20 / 258
Capital
Tier 1 Capital Ratio11.27%11.41%12.98%15.12%Beats 24%196 / 258
Total Risk-Based Capital Ratio12.21%12.10%13.91%16.08%Beats 28%187 / 258
Equity / Assets8.64%9.09%10.24%11.72%Beats 16%218 / 258
Liquidity & Funding
Loans / Deposits91.95%73.24%86.34%95.95%66th pctl87 / 258
Loans / Assets77.97%63.01%72.27%78.40%71st pctl74 / 258
Brokered Deposits / Depositsn/aNot reported for this institution