South Atlantic Bancshares, Inc. ("South Atlantic" or the "Company") (OTCQX: SABK), parent of South Atlantic Bank (the "Bank"), today announced that the board of directors of the Company (the "Board") has authorized a stock repurchase program for up to 380,341 of the outstanding shares of the Company's common stock, equal to approximately $4.4 million as of the date of this press release.
South Atlantic Bancshares, Inc. ("South Atlantic" or the "Company") (OTCQX: SABK), parent of South Atlantic Bank (the "Bank"), reported consolidated net income of $2.0 million, or $0.26 per diluted common share, for the three months ended March 31, 2024.
South Atlantic Bancshares (SABK) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.