MYRTLE BEACH, S.C., March 14, 2019 — South Atlantic Bancshares, Inc. (OTCQX: SABK) (“South Atlantic”), parent of South Atlantic Bank, announced the purchase of a new operations center at 3990 River Oaks Drive in the Carolina Forest area of Myrtle Beach.
The 18,000-square-foot building will consolidate the bank’s deposit, loan, compliance and mortgage operations under one roof. “Our new operations center is another example of our growth. The building provides the perfect opportunity for our expansion as our operations staff has grown to support our nine offices. We’re glad to be investing in the community and pleased with the location in this rapidly growing area of Myrtle Beach,” said K. Wayne Wicker, chairman and chief executive officer.
Approximately 28 employees will transfer to the operations center with the move scheduled for late April or early May. The building will accommodate additional growth as the company continues to expand and also provides space for a potential retail office in the future.
The building was purchased from HTC, and they will continue to operate a retail office at the facility until late May or until their new sales location is ready.
About South Atlantic Bank
South Atlantic Bank, the subsidiary bank of South Atlantic Bancshares, Inc. (OTCQX: SABK), is a $638 million financial institution that is locally owned, controlled, and operated. The bank is headquartered in Myrtle Beach, South Carolina, with additional offices in Murrells Inlet, Pawleys Island, Georgetown, North Myrtle Beach, Charleston, Mount Pleasant, Bluffton and Hilton Head Island, South Carolina. South Atlantic Bank offers a wide variety of services for businesses and consumers, including South Atlantic Bank goMobile, its mobile banking app. The bank also offers internet banking, no-fee ATM access, checking, CD, and money market accounts, merchant services, mortgage loans, remote deposit capture, and more. For more information, visit SouthAtlantic.bank.
HTC, Inc. is the nation’s largest telecommunications cooperative. Founded in 1952, HTC celebrates over 66 years of service to Horry and Georgetown Counties as a local communications leader. HTC offers High Speed Internet, Digital Cable, Digital Wireless, Home Security, local telephone and long distance service, and advanced business services such as Local and Wide Area Networks (LAN/WAN), Managed Networks, VOIP Solutions, WiFi Solutions, Firewall and Security services. HTC provides these services utilizing the area’s most extensive fiber optic network.
SOURCE South Atlantic Bancshares, Inc.