South Atlantic Bancshares, Inc. announces an Equity Buyback for 5% of its issued share capital.
May 23, 2022 at 10:30 am EDT
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South Atlantic Bancshares, Inc. (OTCPK:SABK) announces a share repurchase program. Under the program, the company will repurchase up to 5% of its outstanding shares of common stock. The share repurchase program is valid till May 17, 2023.
South Atlantic Bancshares, Inc. is a bank holding company. The Companyâs banking subsidiary is South Atlantic Bank (Bank). The Bank is a state-chartered commercial bank, and its deposits are insured by the Federal Deposit Insurance Corporation. The principal business activity of the Bank is to provide banking services to domestic markets, principally in Horry, Georgetown, Charleston, and Beaufort counties, South Carolina. It offers loans, including commercial, commercial real estate, consumer and consumer real estate loans. Its deposits include noninterest-bearing transaction accounts, interest-bearing transaction accounts, savings and money market accounts and time deposits. Its personal banking includes checking and money market, savings, and loans and lines of credit. Its mortgage products include mortgage loans, fixed-rate mortgages, adjustable-rate mortgages, and others.
SOUTH ATLANTIC BANCSHARES, INC. 
