South Atlantic Bancshares, Inc. is a bank holding company. The Company’s banking subsidiary is South Atlantic Bank (Bank). The Bank is a state-chartered commercial bank, and its deposits are insured by the Federal Deposit Insurance Corporation. The principal business activity of the Bank is to provide banking services to domestic markets, principally in Horry, Georgetown, Charleston, and Beaufort counties, South Carolina. It offers loans, including commercial, commercial real estate, consumer and consumer real estate. The Bank’s business digital banking includes online banking, mobile banking and cash management services. Its mortgage products include mortgage loans, fixed-rate mortgages, adjustable-rate mortgages and JUMBO loans. It also offers certificates of deposit, individual retirement accounts (IRAs) and health savings accounts (HSAs). The Bank’s line of credit includes home equity line of credit and a ready reserve overdraft line of credit.