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South Atlantic Bancshares reports Q1 2026 net income of $4.5M, up 33.9% from last year, with strong loan and deposit growth.

Company Fundamentals
23 Apr 2026
PRNewsWire
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Bullish
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South Atlantic Bancshares, Inc. reported a net income of $4.5 million for Q1 2026, a 33.9% increase from $3.3 million in Q1 2025. Total assets rose to $1.93 billion, driven by a 7.1% increase in loans and a 1.7% increase in deposits compared to the previous year. Despite a slight decline in net interest margin due to interest rate changes, the company maintained stable funding costs and strong credit quality. Management expects continued growth in loans and deposits amid ongoing economic uncertainties.

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