SOUTH ATLANTIC BANCSHARES, INC. Financial Reports

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:· SOUTH ATLANTIC BANCSHARES, INC.

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Off Balance Sheet
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SOUTH ATLANTIC BANCSHARES, INC.

Institution Profile

Year Opened :

2007

Institution Type :

Holding Company

Reserve District :

Richmond

Federal Regulator :

FED

Entity Type :

Bank Holding Company

Fiscal Year End :

12/31

Structure :

Corporation (stock)

S-Corp :

External Auditor :

Elliott Davis, LLC

Related Bank / Thrift	Assets	Asset Concentration
South Atlantic Bank	1,796,557	Commercial Lending Specialization

Financial Fast Facts
Balance Sheet (USD, in thousands)		Income Statement (USD, in thousands, ytd)

Total Assets	145,694	Total Operating Income	132
Total Liabilities	31,925	Total Operating Expenses	1,831
Total Equity Capital	113,769	Equity in Undistributed Income	11,754
		Net income (loss)	10,055

Miscellaneous
Cash Dividends Declared by Bank Holding Company	757
Total Consolidated Assets of Bank Holding Company	1,786,318

Source of Data: FDIC, FRB, NCUA, OCC, SEC, U.S. Department of the Treasury