South Atlantic Bancshares Q1 net income rises on deposit growth

South Atlantic Bancshares

23/04/2026 21:10

Overview

US community bank's Q1 net income rose over 30% yr/yr

Total loans and deposits increased compared to Q1 2025

Company says deposit growth outpaced loan growth; credit quality remained strong

Outlook

Company expects loan and deposit pipelines to deliver solid growth in Q2 2026

Result Drivers

LOAN GROWTH - Net interest income rose due to increased loan volumes, driving higher interest income

NONINTEREST INCOME - Higher secondary mortgage income boosted noninterest income

INTEREST RATE PRESSURE - Dynamic rate environment and loan payoffs pressured earning asset yields

Company press release: ID:nPn5MnkXLa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.58
Q1 Net Income
$4.50 mln
Q1 Net Interest Margin
3.24%


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 $24.00, about 5.9% above its April 21 closing price of $22.67

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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.)