South Atlantic Bancshares, Inc. Announces Stock Repurchase Program

South Atlantic Bancshares, Inc. has announced a stock repurchase program for up to 380,341 outstanding shares of the Company’s common stock, totaling approximately $4.4 million. The program allows for repurchases through privately negotiated transactions or open market purchases over the next twelve months. The Board of Directors will determine the timing and amount of repurchases based on various factors, including stock performance and market conditions.

South Atlantic Bancshares, Inc. is a bank holding company based in Myrtle Beach, South Carolina, with approximately $1.7 billion in total assets. Its banking subsidiary, South Atlantic Bank, operates twelve locations throughout South Carolina, offering a range of consumer and commercial banking services. The Company’s management team cautions that forward-looking statements in the press release are subject to significant risks and uncertainties, and readers are advised not to place undue reliance on them.

Investors can access important information about South Atlantic Bancshares, Inc. on its website and through the OTC Markets Group website. The Company intends to use its website to disclose material non-public information and comply with disclosure obligations. For more information, visit www.southatlantic.bank.

For further inquiries, please contact K. Wayne Wicker, Chairman & CEO at 843-839-4410, or Matt Hobert, EVP & CFO at 843-839-4412.

(Source: South Atlantic Bank)