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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

$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