Hilton Head, February 6, 2026
South Atlantic Bancshares, Inc. announces a cash dividend of $0.10 per share, highlighting its solid performance and economic strength in Hilton Head. This marks the fourth consecutive annual dividend, signifying the bank’s commitment to its shareholders and the thriving local economy of Beaufort County. As the region experiences notable growth, driven by tourism and entrepreneurship, this move reflects the bank’s role in supporting local businesses and fostering economic development.
Hilton Head: Local Bank’s Dividend Signals Economic Strength
South Atlantic Bancshares rewards shareholders, reflecting robust performance and contributing to the thriving Beaufort County economy.
Hilton Head Island is more than just a picturesque destination; it is a vibrant center for Hilton Head SC business, driven by entrepreneurial spirit and strategic financial stewardship. The recent announcement by South Atlantic Bancshares, Inc. regarding its cash dividend serves as a tangible indicator of the health and resilience embedded within our local financial landscape. This move not only underscores the company’s strong performance but also reflects a broader positive trend in regional economic growth, demonstrating how prudent financial management and local investment contribute to a thriving community. When local institutions prosper, the benefits often extend outward, reinforcing the economic foundation for Hilton Head small business and individual prosperity.
The commitment of local businesses, particularly in the financial sector, to return value to their shareholders is a testament to sound business practices and disciplined growth. Such declarations are not merely corporate formalities; they are signals of confidence in the prevailing economic environment and the strategic direction of local enterprises. This financial stability is a key component in fostering an atmosphere where South Carolina SC entrepreneurs can innovate, create jobs, and contribute to the overall vitality of the Beaufort County economy.
South Atlantic Bancshares Declares Cash Dividend
South Atlantic Bancshares, Inc. (“South Atlantic” or the “Company”), the parent of South Atlantic Bank (OTCQX: SABK), recently announced that its Board of Directors has declared a cash dividend of $0.10 per share on its common stock. This dividend is payable on February 27, 2026, to shareholders of record as of the close of business on February 13, 2026. This marks the Company’s fourth consecutive annual cash dividend, highlighting a consistent commitment to shareholder returns.
A Year of Record Performance and Momentum
The dividend declaration follows what management described as a record year for South Atlantic Bancshares in 2025. The Company reported strong momentum entering 2026 across its operational footprint. As of December 31, 2025, South Atlantic Bancshares had approximately $1.9 billion in total assets. For the year ended December 31, 2025, the Company reported consolidated net income of $16.2 million, or $2.10 per diluted common share, a notable increase compared to $10.1 million, or $1.31 per diluted common share, for the year ended December 31, 2024.
Further financial highlights for the year ended December 31, 2025, include a 7.3 percent increase in total assets, rising by $130.0 million to $1.9 billion from December 31, 2024. Total loans experienced a 9.5 percent growth, increasing by $127.5 million over December 31, 2024. Similarly, total deposits grew by $93.7 million, representing a 6.4 percent increase over December 31, 2024. Shareholders’ equity also saw a substantial increase, totaling $131.8 million as of December 31, 2025, an $18.0 million or 15.8 percent increase from December 31, 2024. The tangible book value per share increased by $2.58, or 18.0 percent, to $16.88 per share as of December 31, 2025.
Local Banking’s Role in Hilton Head Economic Growth
South Atlantic Bank, the banking subsidiary of South Atlantic Bancshares, operates twelve locations across coastal South Carolina, including Hilton Head Island, Myrtle Beach, and Charleston. As a full-service financial institution, it offers a comprehensive range of services including consumer and commercial banking, mortgage services, and treasury management. The presence and success of such local financial institutions are crucial for stimulating Hilton Head economic growth. They provide essential capital and services that empower local businesses and individuals, fostering an environment where small enterprises can access the resources needed to expand and thrive.
The ability of a locally focused bank to consistently deliver positive results and reward its shareholders speaks volumes about the benefits of local capital remaining invested within the community. This supports the notion that limited regulatory burdens, combined with a strong entrepreneurial spirit, enable financial institutions to operate efficiently and contribute more effectively to regional prosperity.
Beaufort County’s Diverse and Resilient Economy
The broader Beaufort County economy, which encompasses Hilton Head Island, is characterized by its diversity and resilience. It benefits significantly from established economic drivers such as tourism, the military presence, the retirement industry, residential development, education, and healthcare. Beaufort County is recognized as one of the fastest-growing counties in South Carolina. It also holds the distinction of having the highest per capita income in the state, exceeding national per capita income levels, largely due to a substantial portion of income derived from high-earning pensions, dividends, and investments, particularly among its retiree population.
Tourism, in particular, remains a formidable economic powerhouse for Hilton Head Island and the wider Lowcountry. In 2024, Hilton Head Island generated $2.8 billion in tourism revenue from 2.8 million visitors. This strong tourism sector is a fundamental pillar supporting the local economy and encouraging the influx of new businesses. In 2024 alone, 160 new businesses opened on Hilton Head Island, demonstrating a healthy and expanding commercial landscape.
Fostering Innovation Among South Carolina SC Entrepreneurs
The thriving economic conditions in regions like Hilton Head Island contribute to a fertile ground for South Carolina SC entrepreneurs. The state’s startup ecosystem is attracting talent and investment, particularly in areas like technology, advanced manufacturing, and clean energy. South Carolina has benefited from an influx of skilled workers and wealth, which has bolstered the state’s economic resilience. In 2020, the opportunity share of new entrepreneurs in South Carolina was 85.2 percent, which was higher than the national average of 80.9 percent. Furthermore, startups in South Carolina created 5.3 jobs per 1,000 people in 2020, surpassing the national average of 5.0 jobs. These figures underscore a dynamic environment where individuals are pursuing new business ventures, leading to job creation and economic diversification.
Such an environment is often nurtured by a regulatory framework that encourages, rather than hinders, private investment and innovation. When businesses like South Atlantic Bancshares demonstrate consistent growth and reward their investors, it signals a healthy and predictable market, which in turn motivates further entrepreneurial activity and investment in the region.
Conclusion
The recent cash dividend announcement by South Atlantic Bancshares, Inc. is a clear indication of a financially sound local institution contributing positively to the broader Beaufort County economy. This success story is interwoven with the larger narrative of Hilton Head economic growth, propelled by a diverse economic base, strong tourism, and a vibrant entrepreneurial spirit. The consistent performance of local businesses, supported by a favorable economic climate, empowers Hilton Head small business owners and attracts new talent, ensuring a dynamic and prosperous future for the entire region.
We encourage our readers to continue supporting local businesses and stay informed about the economic trends shaping Hilton Head Island. Your engagement is vital in nurturing the unique entrepreneurial ecosystem that makes our community so special.
Frequently Asked Questions About South Atlantic Bancshares’ Dividend and Local Economy
- What is the amount of the cash dividend declared by South Atlantic Bancshares, Inc.?
- South Atlantic Bancshares, Inc. has declared a cash dividend of $0.10 per share on its common stock.
- When is the cash dividend payable?
- The dividend is payable on February 27, 2026.
- What is the record date for this dividend?
- The record date for the dividend is February 13, 2026.
- How many consecutive annual cash dividends has South Atlantic Bancshares, Inc. declared?
- This marks the Company’s fourth consecutive annual cash dividend.
- What were South Atlantic Bancshares’ total assets as of December 31, 2025?
- As of December 31, 2025, South Atlantic Bancshares had approximately $1.9 billion in total assets.
- How many new businesses opened in Hilton Head Island in 2024?
- 160 new businesses opened in Hilton Head Island in 2024.
- What was the tourism revenue for Hilton Head Island in 2024?
- In 2024, Hilton Head Island generated $2.8 billion in tourism revenue.
- What is the entrepreneurial landscape like in South Carolina?
- In 2020, the opportunity share of new entrepreneurs in South Carolina was 85.2 percent, which was higher than the national average of 80.9 percent. Startups in South Carolina created 5.3 jobs per 1,000 people in 2020, surpassing the national average of 5.0 jobs.
Key Features of South Atlantic Bancshares’ Dividend Announcement and Regional Economy
| Feature | Detail | Scope |
|---|---|---|
| Dividend Amount | $0.10 per share on common stock | Company-level |
| Dividend Payable Date | February 27, 2026 | Company-level |
| Dividend Record Date | February 13, 2026 | Company-level |
| Consecutive Annual Dividends | Fourth consecutive annual cash dividend | Company-level |
| Total Assets (as of Dec 31, 2025) | Approximately $1.9 billion | Company-level |
| 2025 Net Income | $16.2 million | Company-level |
| New Businesses in Hilton Head (2024) | 160 new businesses | Local |
| Hilton Head Tourism Revenue (2024) | $2.8 billion | Local |
| Beaufort County Per Capita Income | Highest in South Carolina, exceeds national levels | County-level |
| South Carolina Entrepreneur Opportunity Share (2020) | 85.2% (higher than national average of 80.9%) | State-level |
| Startup Job Creation in South Carolina (2020) | 5.3 jobs per 1,000 people (above national average of 5.0) | State-level |
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Author: STAFF HERE HILTON HEAD
The HILTON HEAD STAFF WRITER represents the experienced team at HEREHiltonHead.com, your go-to source for actionable local news and information in Hilton Head Island, Beaufort County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the RBC Heritage golf tournament, Hilton Head Island Wine & Food Festival, and the Gullah Celebration. Our coverage extends to key organizations like the Hilton Head Island-Bluffton Chamber of Commerce and Community Foundation of the Lowcountry, plus leading businesses in tourism and hospitality that power the local economy such as Sea Pines Resort and Sonesta Resort Hilton Head Island. As part of the broader HERE network, including HEREAiken.com, HEREBeaufort.com, HEREChapin.com, HERECharleston.com, HEREClinton.com, HEREColumbia.com, HEREGeorgetown.com, HEREGreenwood.com, HEREGreenville.com, HEREHiltonHead.com, HEREIrmo.com, HEREMyrtleBeach.com, HERENewberry.com, HERERockHill.com, and HERESpartanburg.com, we provide comprehensive, credible insights into South Carolina's dynamic landscape.
