South Atlantic Bancshares Q2 FY26 net income rises 6.2% to $4.7 million quarter over quarter; diluted EPS climbs 5.2% to $0.61 quarter over quarter
SABK•Management commentary
Chairman and CEO K. Wayne Wicker cited strong balance-sheet growth, deposit gains outpacing loans, and improved profitability measures, while noting benign credit indicators.
Margin and funding costs improve
Net interest margin widened 12 basis points to 3.36% from Q1, while the cost of funds eased 6 basis points to 2.19%.
Q2 results and balance-sheet growth
South Atlantic Bancshares posted Q2 net income of $4.7 million, up 6.2% from Q1, translating to diluted EPS of $0.61.
Total assets climbed $50.3 million to $1.98 billion from March 31; loans rose $61.9 million to $1.54 billion, and deposits increased $82.2 million to $1.68 billion.
