This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

South Atlantic Bank Announces Stock Dividend

MYRTLE BEACH, S.C., Oct. 30, 2012 /PRNewswire/ -- The Board of Directors of South Atlantic Bancshares, Inc., parent of South Atlantic Bank, has declared a 10 percent stock dividend, payable on December 18, 2012 to shareholders of record on December 3, 2012. The stock dividend provides shareholders with ten new shares for every one hundred shares held, with fractional shares rounded up to the next whole share.

In making the announcement, chairman of the board and chief executive officer K. Wayne Wicker stated, "With the bank soon to celebrate its fifth anniversary, our board of directors felt the timing was appropriate to grant our shareholders a stock dividend. We appreciate our shareholders' loyalty to and pride in our growing bank," he said.

The stock dividend will increase the Company's outstanding common shares of stock to approximately 3,026,312, an addition of 275,120 shares. This is the first stock dividend for South Atlantic Bank, which opened in November 2007. 

About South Atlantic BankSouth Atlantic Bank is a $284 million financial institution that is locally owned, controlled, and operated. The bank is headquartered in Myrtle Beach, South Carolina, and has offices in Murrells Inlet and Pawleys Island. South Atlantic offers a wide variety of services for businesses and consumers, including internet banking, no-fee ATM access, checking, CD, and money market accounts, mortgage loans, merchant services, remote deposit capture, and more. Its experienced team of bankers knows the Grand Strand market and is skilled in meeting the special needs of our coastal community.

South Atlantic Bank has been designated a 5-Star bank by independent bank rating firm BauerFinancial, Inc., has been named a "Roaring Twenties" winner by SCBiz News, and received a Community Service Award from the Myrtle Beach Area Chamber of Commerce at its annual meeting.

Member FDIC

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs