South Atlantic Bancshares Q2 profit rises on loan growth, lower funding costs

South Atlantic Bancshares

23/07/2026 21:16

    

    Overview
  
US community bank's Q2 net income rose 29% yr/yr, driven by loan and deposit growth
Q2 diluted EPS increased to $0.61 from $0.48 a year earlier
Net interest income rose 14% yr/yr as net interest margin improved to 3.36%

    

    Outlook
  
Company expects loan and deposit pipelines to support continued growth in 2026
South Atlantic says it is closely monitoring macroeconomic and geopolitical uncertainty
Company is optimistic regarding the second half of 2026

    

    Result Drivers
  
LOAN GROWTH - Co said higher net interest income was driven by organic growth in its loan portfolio
LOWER FUNDING COSTS - Decline in interest expense was primarily due to lower rates on interest-bearing deposits and borrowings
DEPOSIT GROWTH - Total deposits grew 5.2% qtr/qtr, exceeding loan growth for the period

    
Company press release: ID:nPn6lDQ66a

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 EPS
 
$0.61
 
Q2 Net Income
 
$4.70 mln
 
Q2 Net Interest Income
 
$15.20 mln
 
Q2 Net Interest Margin
 
3.36%
 

    

    Analyst Coverage
  
The one available analyst rating on the shares is "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 $26.25, about 3.2% above its July 22 closing price of $25.44

    

    Reuters Recommended Reads
  
July 21 - Southern First Bancshares' Q2 profit rises on loan growth and margin expansion
July 23 - Civista Bancshares Q2 profit rises 30%, interest margin expands
July 22 - Juniata Valley Q2 profit rises 32% on loan growth, higher interest income

    
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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.)