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Q2 2026 · read from the 30 June 2026 Call Report · United States · Southeast · South Carolina, the state note

South Atlantic Bank

Myrtle Beach, South Carolina · $1.98B in assets · beside the 11 other South Carolina banks between $1B and $3B

The filing

8.6%
Equity / assets
12th of 12
111.5x
Coverage of noncurrent
1st of 11
0.01%
NPA / loans
2nd of 12

South Atlantic Bank is the fifth largest of the 12 South Carolina banks between $1B and $3B, with $1.98B in assets at 30 June 2026. Loans are 92.0% of deposits, 10th of 12 against a median of 80.5%, and equity is 8.6% of assets, the lowest in the cohort. Loans grew +7.6% in the year, 6th of 12, and deposits grew 3.7%; the cohort's median loan growth is +7.4%.

Noncurrent loans are 0.01% of the book, 2nd of 12 against a median of 0.11%; 0.00% is 30 to 89 days past due, and the allowance covers them 111.5 times. Commercial real estate is 42.7% of loans, 11th of 12 against a median of 35.8%, and 334% of capital, above the 300% screen, with construction at 135% against the 100% screen. CRE has grown +55.7% over 36 months, past the guidance's 50% prong.

Return on assets is 1.07%, 10th of 12 against a median of 1.20%, on an efficiency ratio of 59.2%, 6th of 12. Five years ago it was 1.16%. The question is what the concentration does under a commercial real estate stress, and how much of it is owner-occupied (owner-occupied nonresidential is 16.2% of loans).

Equity as a share of assetsSC banks $1B to $3B · 30 June 2026 · higher is stronger, listed first
median 9.6% CS Coastal States Bank 10.8% CB Citizens Bank 10.7% FR First Reliance Bank 10.1% FC First Community Bank 9.9% SF Security Federal Bank 9.8% CN Conway National Bank 9.8% FC First Capital Bank 9.3% FP First Palmetto Bank 9.2% Bo Bank of Travelers Rest 9.2% CC Coastal Carolina National Bank 9.1% AB Anderson Brothers Bank 8.7% SA South Atlantic Bank 8.6%
Loans, year over yearSC banks $1B to $3B · 30 June 2026 · no better direction, largest first
median +7.4% FC First Community Bank +25.1% FC First Capital Bank +22.0% AB Anderson Brothers Bank +13.7% CC Coastal Carolina National Bank +12.1% CS Coastal States Bank +11.1% SA South Atlantic Bank +7.6% CB Citizens Bank +7.1% Bo Bank of Travelers Rest +5.0% FR First Reliance Bank +4.9% FP First Palmetto Bank +4.4% CN Conway National Bank +3.6% SF Security Federal Bank -1.5%

SBA 7(a), FY2008 to FY2026

South Atlantic Bank is the 54th largest 7(a) lender into South Carolina of 275, with $21M across 15 loans, 0.4% of everything approved in the state (Live Oak Banking Company leads with $445M). 2 of its 2 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in South Carolina, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Horry, SC$20M6th of 965.2%quiet FY2015
Beaufort, SC$625K60th of 820.2%quiet FY2013
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Accommodation & food services6$15M70.3%0.02%456th of 2,596
Construction2$3M15.4%0.01%725th of 2,063
Wholesale trade1$2M11.4%0.01%649th of 1,651
Retail trade3$327K1.5%0.00%2103rd of 2,589
Arts, entertainment & recreation1$150K0.7%0.00%1395th of 1,656
7(a) lenders into South Carolina, share of approvals since FY2008275 lenders on record; the ten largest and South Atlantic Bank
LO Live Oak Banking Company 8.3% $445M · 363 loans PB Pinnacle Bank 6.9% $367M · 370 loans TB TD Bank, National Association 6.2% $328M · 1,306 loans UC United Community Bank 4.7% $253M · 280 loans WF Wells Fargo Bank National Associa… 4.2% $222M · 1,020 loans TH The Huntington National Bank 3.5% $185M · 352 loans G Gbank 3.2% $172M · 65 loans C Countybank 3.1% $166M · 181 loans TB Truist Bank 2.7% $145M · 423 loans SB Southstate Bank, National Associa… 2.3% $124M · 203 loans SA South Atlantic Bank 0.4% $21M · 15 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 1 CBLR filer; owner-occupied excluded; bold marks a screen met
South Atlantic BankRankCohort median
Total CRE against capital, the 300% screen334%11th of 12252%
Construction against capital, the 100% screen135%11th of 1258%
Construction and land development, share of loans17.2%11th of 129.7%
Non-owner-occupied nonfarm nonresidential, share of loans22.2%6th of 1222.2%
Total CRE, the guidance definition, share of loans42.7%11th of 1235.8%
CRE growth over 36 months, the third prong+55.7%9th of 12+24.6%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Coastal States Bank$2.42B1.2%58.8%0.95%0.01%1.0%93.9%10.8%
First Community Bank$2.38B1.2%63.7%0.05%0.00%1.2%78.3%9.9%
Anderson Brothers Bank$2.38B1.5%59.2%0.59%0.90%1.6%88.2%8.7%
Conway National Bank$2.00B1.4%47.9%0.02%0.05%1.1%51.9%9.8%
South Atlantic Bank$1.98B1.1%59.2%0.01%0.00%0.9%92.0%8.6%
Bank of Travelers Rest$1.60B1.6%59.0%0.12%0.10%1.3%64.8%9.2%
Security Federal Bank$1.54B0.9%70.4%0.85%0.06%2.0%50.8%9.8%
Coastal Carolina National Bank$1.35B1.0%59.2%0.00%0.00%1.1%80.8%9.1%
First Capital Bank$1.32B1.1%53.3%0.10%0.00%1.0%98.4%9.3%
Citizens Bank$1.14B1.2%64.1%0.18%0.05%1.3%63.3%10.7%
First Reliance Bank$1.13B1.2%66.4%0.07%0.00%1.1%91.0%10.1%
First Palmetto Bank$1.10B1.4%54.8%0.15%0.03%1.5%80.2%9.2%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
South Atlantic BankCohort median
20212026Change20212026Change
Loans$723M$1.54B+114%$576M$955M+66%
Deposits$1.03B$1.68B+62%$1.03B$1.39B+36%
NPA / loans0.00%0.01%+0.01 pts0.29%0.11%-0.18 pts
Efficiency66.3%59.2%-7.1 pts65.6%59.2%-6.5 pts
ROA1.16%1.07%-0.09 pts1.05%1.20%+0.15 pts

This read was prepared for South Atlantic Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on South Atlantic Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort SC banks $1B to $3B
Institution SouthAtlantic.bank

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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