South Atlantic Bank
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Data as of · sourced from FFIEC call reports. How we update
South Atlantic Bank is an FDIC-insured commercial bank headquartered in Myrtle Beach, SC, established in 2007 (FDIC certificate 58689), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $1.98B, up 6.0% from Q2 2025, the 7th largest of 43 banks headquartered in South Carolina. Its CET1 capital ratio was 11.27% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 58689
- Headquarters
- Myrtle Beach, SC
- Established
- 2007
- Total assets, Q2 2026
- $1.98B
- Assets vs Q2 2025
- +6.0%
- CET1 ratio, Q2 2026
- 11.27%
- Domestic offices
- 12 FDIC institution directory, current count
- Routing number
- 053208260
- Latest call report
- Q2 2026, FFIEC 051 · South Atlantic Bank call report
- Holding company
- SOUTH ATLANTIC BANCSHARES, INC.
- Asset rank in state
- 7th of 43 in South Carolina
South Atlantic Bank, based in Myrtle Beach, South Carolina, reported $2.0 billion in assets at June 30, 2026, up 6.0% from a year earlier. It carries problem assets equal to 0.1% of the capital and reserves that would absorb them, a small fraction of the median of 3.6% for the 895 banks with $1 billion to $10 billion in assets. On the other hand, it holds commercial real estate loans worth 3.4 times its capital, higher than about three-quarters of banks its size (median 2.2 times).
Net income for the quarter rose 28% from a year earlier, to $5.3 million. Over the same year, loans grew 7.6% and deposits grew 3.7%. Where it has less room is capital: it holds common equity equal to 11.27% of its risk-weighted assets, lower than about three-quarters of banks its size (median 13.52%).
As of June 30, 2026, South Atlantic Bank reported a CET1 capital ratio of 11.27%, a return on assets of 1.10%, a nonperforming-loan ratio of 0.01% and a Texas ratio of 0.07%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, South Atlantic Bank is the 7th largest of the 43 banks headquartered in South Carolina. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 2.6% to $1.98B, loans rose 4.3% and deposits rose 5.1%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 35.5% of total loans, followed by non-owner-occupied commercial real estate loans at 22.2%. The FDIC Summary of Deposits lists 12 offices for it, in 11 cities in SC; its Myrtle Beach 2 offices book 25% of its branch deposits. On its Q2 2026 call report, South Atlantic Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 630 29th Ave N, Myrtle Beach, SC 29577
- County
- Horry
- Metro Area
- Myrtle Beach-Conway-North Myrtle Beach, SC
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Atlanta (Region 5)
- Federal Reserve member
- No
- Federal Reserve district
- District 5, Richmond
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- November 28, 2007
- Domestic offices
- 12 FDIC institution directory, current count
- Employees (FTE)
- 175
- Domestic deposits
- $1.68B
- Allowance for credit losses
- $14.6M
- Net charge-offs (YTD)
- $5K
- Average total assets
- $1.94B
- Average total loans
- $1.50B
- Average interest-bearing deposits
- $1.27B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- November 28, 2007
- FDIC Cert
- 58689
- Fed RSSD
- 3637247
- Website
- SouthAtlantic.bank →
- Parent Holding Company
- SOUTH ATLANTIC BANCSHARES, INC. (RSSD 3637238)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, South Atlantic Bank's total assets ranged from $1.55B (Q3 2023) to $1.98B (Q2 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$1.98B total assets against $1.87B; $1.81B total liabilities against $1.72B.
$1.53B net loans and leases against $1.42B; $1.68B total deposits against $1.62B.
$282.2M securities against $273.9M; $63.4M cash and balances due against $65.9M.
$24.8M total interest income against $23.5M; $9.3M total interest expense against $9.9M.
$15.5M net interest income against $13.6M.
$1.7M total noninterest income against $1.7M; $10.0M total noninterest expense against $9.6M.
$600K provision for credit losses against $625K.
$5.3M net income against $4.2M.
1.10% return on assets against 0.89%; 3.38% net interest margin against 3.11%.
11.27% CET1 capital ratio against 10.85%; 9.42% tier 1 leverage ratio against 8.74%.
Inside the full South Atlantic Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans exceed 300% of total capital, the threshold at which the 2006 interagency guidance flags a bank for heightened supervisory scrutiny. CRE concentration has been the central stress vector for regional banks since 2023. 2006 Interagency CRE Concentration Guidance (SR 07-1).
South Atlantic Bank rankings
Its closest position to the top of a national ranking is 603 of 4,196, for total assets; its furthest is 3,264 of 3,640, for Texas Ratio.
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.67% (Q3 2024) to 1.10% (Q2 2026) and its net interest margin ran from 2.75% (Q3 2024) to 3.41% (Q4 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.27% | 1.10% | 0.01% | 0.07% | 3.38% |
| Q1 2026 | 11.37% | 1.05% | 0.00% | 0.00% | 3.23% |
| Q4 2025 | 11.21% | 0.95% | 0.00% | 0.00% | 3.41% |
| Q3 2025 | 11.30% | 1.03% | 0.00% | 0.00% | 3.33% |
| Q2 2025 | 10.85% | 0.89% | 0.00% | 0.00% | 3.11% |
| Q1 2025 | 10.83% | 0.83% | 0.00% | 0.00% | 3.05% |
| Q4 2024 | 10.87% | 0.79% | 0.00% | 0.04% | 2.97% |
| Q3 2024 | 11.14% | 0.67% | 0.00% | 0.02% | 2.75% |
Swipe the table sideways to see every column.
Branch Network
View all 12 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| South Atlantic Bank (main office) | Myrtle Beach , SC | 29577 | $336.1M |
| Murrells Inlet Branch | Murrells Inlet , SC | 29576 | $253.7M |
| Pawleys Island Office | Pawleys Island , SC | 29585 | $226.8M |
| Bluffton Branch | Bluffton , SC | 29910 | $179.6M |
| Georgetown Branch | Georgetown , SC | 29440 | $145.7M |
| Calhoun Branch | Charleston , SC | 29401 | $116.7M |
| Mt. Pleasant Branch | Mount Pleasant , SC | 29464 | $100.9M |
| Town Centre Branch | Myrtle Beach , SC | 29579 | $77.2M |
| North Myrtle Beach Branch | North Myrtle Beach , SC | 29582 | $76.7M |
| Hilton Head Branch | Hilton Head Island , SC | 29926 | $64.4M |
| Beaufort Branch | Beaufort , SC | 29906 | $53.9M |
| Carnes Crossroads Branch | Summerville , SC | 29486 | $46.5M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| April 2, 2018 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| April 2, 2018 | Structure Change | Acquired Atlantic Community Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 1.3% of deposits in SC, rank 13 of 73 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 321 applications, 252 loans originated, $148.4M originated, across 4 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 2 loans, $1.4M approved, $700K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2015 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about South Atlantic Bank
What are South Atlantic Bank's total assets?
As of the Q2 2026 filing, South Atlantic Bank reported total assets of $1.98 billion in its FFIEC call report.
Where is South Atlantic Bank headquartered?
It is headquartered in Myrtle Beach, SC, United States.
When was South Atlantic Bank founded?
It was established in 2007, per the FDIC institution directory.
Is South Atlantic Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #58689). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates South Atlantic Bank?
South Atlantic Bank's primary federal regulator is the FDIC.
What is South Atlantic Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 11.27% in its Q2 2026 call report, above regulatory requirements.
How many branches does South Atlantic Bank operate?
It operates 12 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is South Atlantic Bank's Texas Ratio?
Its Texas Ratio is 0.07% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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