South Atlantic Bancshares' Q3 net income rises on strong deposit growth

South Atlantic Bancshares

23/10/2025 21:13

Overview

South Atlantic Q3 net income rises 18.9% quarter-over-quarter to $4.4 mln

Company's Q3 EPS increases to $0.57, up from $0.48 in Q2

Net interest income for Q3 rises 27.2% year-over-year to $14.6 mln

Outlook

Company expects continued growth in deposits and lending pipelines in Q4 2025

South Atlantic Bancshares sees benefits from gradual interest rate decreases

Company maintains confidence in strategic momentum entering Q4 2025

Result Drivers

STRONG DEPOSIT AND LOAN ACTIVITY - Co cites robust deposit and loan activity across markets as key drivers of Q3 results

BALANCE SHEET RESTRUCTURING - Targeted balance sheet restructuring in Q2 bolstered profitability, per CEO Wayne Wicker

SEASONAL DEPOSIT RUNOFF - Modest quarterly decline in deposit balances due to seasonal runoff and reduced brokered funding

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.57
Q3 Net Income
$4.40 mln
Q3 Net Interest Income
$14.6 mln
Q3 Net Interest Margin
3.28%


Analyst Coverage

The one available analyst rating on the shares is "strong buy"

The average consensus recommendation for the banks peer group is "buy."

Wall Street's median 12-month price target for South Atlantic Bancshares Inc is $19.00, about 9.8% above its October 21 closing price of $17.13

Press Release: ID:nPn49t1cga

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)