South Atlantic Q2 net income rises 10.5% to $3.7 mln

South Atlantic Bancshares

24/07/2025 21:29

Overview

South Atlantic Q2 net income rises 10.5% qtr/qtr to $3.7 mln

Diluted EPS for Q2 increases to $0.48 from $0.43 in Q1

Net interest income grows 27.5% yr/yr, driven by higher loan yields

Co repurchased 112,023 shares; reduces short-term borrowings by 38.5%

Outlook

Company optimistic about second half of 2025 despite uncertainties

South Atlantic sees strong economic activity in served markets

Company highlights pristine credit quality and stable interest rates

Result Drivers

LOAN GROWTH - Co attributes higher net interest income to increased loan yields and organic growth in loan portfolio

BALANCE SHEET RESTRUCTURING - Targeted sale of securities and reduction of short-term borrowings improved financial position

DEPOSIT GROWTH - Strong deposit growth supported by stable interest rate environment

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.48
Q2 Net Income
$3.70 mln
Q2 Net Interest Income
$13.40 mln
Q2 Net Interest Margin
3.09%


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 $18.50, about 13.6% above its July 23 closing price of $15.99

Press Release: ID:nPn8bYHxFa

(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.)