SABK - South Atlantic Bancshares GAAP EPS of $0.52 revenue of $13.61M

• South Atlantic Bancshares press release ( OTCQX:SABK ): Q4 GAAP EPS of $0.52.
• Revenue of $13.61M (+22.4% Y/Y).

• Year-End 2022 Financial Highlights:

• Net income in 2022 totaled $12.1 million, an 11.5 percent increase over 2021 annual results.

• Loan interest income, excluding fees, increased $9.2 million in 2022, or 32.2 percent when compared to 2021.

• Total assets as of December 31, 2022 reached $1.4 billion, a 14.5 percent increase year-over-year.

• Total gross loans grew 36.6 percent during 2022, ending the year totaling $1.0 billion.

• Total deposits were $1.2 billion at December 31, 2022, a 12.4 percent increase year-over-year.

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