South Atlantic Bancshares, Inc. Announces Cash Dividend for Shareholders in 2025

South Atlantic Bancshares, Inc. Declares Cash Dividend

On February 7, 2025, South Atlantic Bancshares, Inc., the parent company of South Atlantic Bank, announced an exciting financial update that will benefit its shareholders. The Board of Directors has officially declared a cash dividend of $0.10 per share on its common stock. This dividend is set to be payable on February 28, 2025, to those shareholders who are on record as of the close of business on February 14, 2025.

K. Wayne Wicker, the Chairman and CEO of South Atlantic, commented positively on the company's current financial standing, despite facing challenges in the first half of 2024. He expressed satisfaction with the company’s performance, stating that the firm concluded the year on a robust note and is entering 2025 with considerable momentum. This marks the company's third consecutive annual cash dividend since its first payment in the first quarter of 2023. Wicker extends his gratitude to shareholders for their continued support, acknowledging their crucial role in the company's success.

Based in Myrtle Beach, South Carolina, South Atlantic Bancshares, Inc. is a registered bank holding company with assets totaling approximately $1.8 billion as of the end of 2024. South Atlantic Bank, its banking subsidiary, operates across South Carolina's coastal regions, providing a full range of banking services, including personal and commercial financial solutions. The bank prides itself on its commitment to community banking, with twelve locations across popular areas such as Myrtle Beach, Charleston, and Hilton Head Island.

The banking institution believes in offering personalized services, catering to individuals, small businesses, and corporate clients alike. Their suite of services includes mortgages, treasury management, mobile banking via the South Atlantic Bank goMobile app, and a variety of consumer and commercial banking products. The bank's commitment to its customers is evident in their offerings, from internet banking and ATM access, to loans and remote deposit capture.

With its recent dividend announcement and solid foothold in the financial sector, South Atlantic Bancshares is poised for further growth and success in the upcoming year and beyond. The continuous investment in community-based banking and personalized customer service forms the cornerstone of its operational ethos, ultimately benefiting both the bank and its shareholders.

For detailed information about the company, interested parties can visit South Atlantic Bancshares Investor Relations. The platform offers access to annual reports, quarterly earnings, and other essential documents that reflect the company's ongoing commitment to transparency and accountability in its financial practices.

As the company continues to navigate the changing business landscape, stakeholders are encouraged to stay updated through their official communications, including press releases and financial filings. With a strong leadership team and a dedicated approach to banking, South Atlantic Bancshares, Inc. demonstrates a bright path ahead for both the institution and its shareholders.