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What's New? Keep up on the latest news from South Atlantic Bank.

Rose Mary Hanna Joins South Atlantic Bank

March 18, 2014 – Rose Mary Hanna has joined South Atlantic Bank as a teller at the bank’s Myrtle Beach headquarters at 630 29th Avenue North.

Hanna brings 18 years of teller experience to her new post and most recently served as teller supervisor at CresCom Bank in Myrtle Beach. She is a native of Greenville, North Carolina, and has resided in Murrells Inlet, South Carolina for 15 years.

Sharon Vane Joins South Atlantic Bank

Myrtle Beach, SC, March 4, 2014 – Sharon Vane has joined South Atlantic Bank as a loan servicing specialist, working from its Myrtle Beach headquarters at 630 29th Avenue North. Vane has 24 years of business experience, including 13 years in banking. She most recently served BNC Bank in Myrtle Beach as a loan review specialist and loan operations assistant. A native of Brooklyn, New York, she has resided in Myrtle Beach for 15 years.

Danielle Martin-Ebert Joins South Atlantic Bank

Myrtle Beach, SC, February 25, 2014 – Danielle Martin-Ebert has joined South Atlantic Bank as a mortgage loan processor, working from its Myrtle Beach headquarters at 630 29th Avenue North. Martin-Ebert brings 16 years of mortgage experience to her new post at the bank. Prior to joining South Atlantic Bank, she worked as a mortgage loan processor for First Home Equity Loans. A native of Flemington, New Jersey, she has resided in Myrtle Beach for six years.

Alison Van Wagner Joins South Atlantic Bank

Myrtle Beach, SC, February 11, 2014 – Alison Van Wagner has joined South Atlantic Bank as a teller at its Murrells Inlet office at 11019 Tournament Boulevard.

Prior to joining South Atlantic Bank, Van Wagner served as a personal banker at First Federal in Murrells Inlet. She is a graduate of Coastal Carolina University with a B.A. degree in communications. Van Wagner is a member of the Myrtle Beach Adult Kickball League and a former member of GS Scene. A native of Athens, Tennessee, she has resided in Myrtle Beach for seven years.

South Atlantic Bank Announces Year-End Earnings

Myrtle Beach, South Carolina, February 7, 2014 – South Atlantic Bancshares, Inc., parent of South Atlantic Bank, today reported income before taxes of $2,091,822 for the year ended December 31, 2013, an increase of 23.5 percent when compared to the $1,693,273 reported a year ago. Net income for the year ended December 31, 2013, was $1,644,649 or $0.54 per diluted share. At year-end 2013, the bank marked its third consecutive yearly profit. 

“Our pleasing financial performance is directly attributed to our expansion efforts in Georgetown and Mount Pleasant, and the maturation of our existing offices,” said K. Wayne Wicker, chairman of the board and chief executive officer. “Loan growth at the new locations fueled the bank’s performance in the fourth quarter, providing a strong finish to the year. While start-up expenses associated with these new offices contributed to an increase in noninterest expense in 2013, these expenses are now becoming accretive to earnings. Our existing offices in Myrtle Beach, Murrells Inlet, and Pawleys Island, along with the merchant services and mortgage lines of business, also contributed to the year’s success. South Atlantic Bank is well positioned for a strong start to 2014,” he said.

Total deposits grew 10.1 percent, from $259.3 million reported at December 31, 2012, to $285.5 million at December 31, 2013. Total loans grew 14.8 percent during 2013, from $190.0 million at December 31, 2012 compared to $218.2 million at December 31, 2013.

Total assets grew 11.6 percent, from $285.0 million at December 31, 2012, to $318.0 million at December 31, 2013, and the bank’s capital ratios continue to exceed regulatory requirements. Credit quality, an important barometer of a bank’s financial health, has always been a primary focus at South Atlantic Bank. The bank’s ratio of net charge-offs to total average assets was 0.21 percent at December 31, 2013, which compares favorably to state and national figures.

Click Here to View Financial Data

Dola Brooks Joins South Atlantic Bank

Dola Brooks Myrtle Beach, SC, January 28, 2014 – Dola Brooks has joined South Atlantic Bank as a teller at its main office at 630 29th Avenue North in Myrtle Beach.

Brooks has more than 28 years of business experience and worked at First Citizens Bank as a teller for 10 years. She most recently worked at Brooks Brothers in Myrtle Beach as a sales associate. She is a native of Florence and has resided in Myrtle Beach for 25 years.  

 

South Atlantic Bank Promotes Nancy Pinner

Nancy Pinner

Myrtle Beach, SC, January 21, 2014 – Nancy C. Pinner has been promoted to teller supervisor at South Atlantic Bank’s Murrells Inlet office, located at the corner of Tournament Boulevard and Highway 17 Bypass.

Pinner has more than 11 years of teller experience, having served First Palmetto Savings Bank and Carolina First in that capacity before joining South Atlantic Bank in September 2011. She began her career as a legal secretary and court reporter in 1982. A native of Surfside Beach, Pinner now lives in Myrtle Beach. She is a graduate of Horry-Georgetown Technical College with an A.S. degree.

Karla Marion Promoted to Teller Supervisor at South Atlantic Bank

Myrtle Beach, South Carolina, January 7, 2014 – Karla Marion has been promoted to teller supervisor at South Atlantic Bank’s Main Office at 630 29th Avenue North in Myrtle Beach.

Marion has six years of business experience and joined South Atlantic Bank as a teller in May 2012. Prior to joining South Atlantic Bank, she served as a customer advisor for HTC in Murrells Inlet from 2007 to 2011, and was a customer service representative for SouthCoast Community Bank in Charleston from 2011 to 2012. She resides with her family in Myrtle Beach.