South Atlantic Bancshares, Inc. Announces New Chief Financial Officer

Rhea-AI Summary

South Atlantic Bancshares, Inc. (OTCQX: SABK) has appointed Matthew H. Hobert as the new executive vice president and chief financial officer, bringing nine years of financial experience from FIG Partners. Hobert holds degrees in Accounting and Accountancy from the University of Georgia and is licensed in securities. Richard N. Burch will remain as chief operating officer, overseeing critical operations during the transition. With over $1.2 billion in assets, South Atlantic Bank provides comprehensive banking services across multiple locations in South Carolina.

Positive

• Appointment of experienced CFO Matthew H. Hobert, enhancing financial leadership.
• Richard N. Burch continues to strengthen operational stability as COO.

Negative

• None.

MYRTLE BEACH, S.C., April 12, 2022 /PRNewswire/ -- South Atlantic Bancshares, Inc. (the "Company")(OTCQX: SABK), parent of South Atlantic Bank (the "Bank"), is pleased to announce Matthew H. Hobert, CPA has been hired as executive vice president, chief financial officer for the Company.

Hobert previously served as director of investment banking at FIG Partners/Janney Montgomery Scott in Atlanta, Georgia, and has nine years of financial experience. He earned a Bachelor of Business Administration in Accounting and a Master of Accountancy from the University of Georgia and holds his Series 79 securities license.

Richard N. Burch, executive vice president, will continue as chief operating officer and will work closely with the Accounting team during this time of transition. He will continue to lead the Deposit Operations, Loan Operations , Information Technology, and Project Management teams, as well as serve as the Bank's information security officer.

About South Atlantic Bancshares, Inc.

South Atlantic Bancshares, Inc. (OTCQX: SABK) is a registered bank holding company based in Myrtle Beach, South Carolina with over $1.2 billion in total assets.  The Company's banking subsidiary, South Atlantic Bank, is a full-service financial institution spanning the entire coastal area of South Carolina, and is locally owned, controlled and operated.  The Bank operates eleven offices in Myrtle Beach, Carolina Forest, North Myrtle Beach, Murrells Inlet, Pawleys Island, Georgetown, Mount Pleasant, Charleston, Bluffton and Hilton Head Island, South Carolina.  The Bank specializes in providing personalized community banking services to individuals, small businesses and corporations.  Services include a full range of consumer and commercial banking products, including mortgage, and treasury management, including South Atlantic Bank goMobile, the Bank's 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 www.SouthAtlantic.bank. 

Contacts:  K. Wayne Wicker, Chairman & CEO, 843-839-4410

View original content:https://www.prnewswire.com/news-releases/south-atlantic-bancshares-inc-announces-new-chief-financial-officer-301524057.html

SOURCE South Atlantic Bank

FAQ

Who is the new CFO of South Atlantic Bancshares, Inc. (SABK)?

Matthew H. Hobert has been appointed as the new CFO of South Atlantic Bancshares, Inc. (SABK).

What experience does Matthew H. Hobert have?

Matthew H. Hobert has nine years of financial experience, previously serving as director of investment banking at FIG Partners.

What are the assets of South Atlantic Bancshares, Inc. (SABK)?

South Atlantic Bancshares, Inc. (SABK) has over $1.2 billion in total assets.

Where is South Atlantic Bank located?

South Atlantic Bank operates across multiple locations in South Carolina, including Myrtle Beach and Charleston.

Who will oversee operations during the transition at SABK?

Richard N. Burch will continue as COO, overseeing operations during the transition.