South Atlantic Bancshares (South Atlantic Bancshares) Effective Interest Rate on Debt % : 19.22% (As of Mar. 2024)

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What is South Atlantic Bancshares Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. South Atlantic Bancshares's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $40.19 Mil. South Atlantic Bancshares's average total debt for the quarter that ended in Mar. 2024 was $209.07 Mil. Therefore, South Atlantic Bancshares's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 19.22%.

South Atlantic Bancshares Effective Interest Rate on Debt % Historical Data

The historical data trend for South Atlantic Bancshares's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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South Atlantic Bancshares Effective Interest Rate on Debt % Chart

South Atlantic Bancshares Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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82.29

44.27

9.63

6.40

17.41

South Atlantic Bancshares Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															16.69	21.07	23.20	19.01	19.22

Competitive Comparison of South Atlantic Bancshares's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, South Atlantic Bancshares's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

South Atlantic Bancshares's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, South Atlantic Bancshares's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where South Atlantic Bancshares's Effective Interest Rate on Debt % falls into.

South Atlantic Bancshares Effective Interest Rate on Debt % Calculation

South Atlantic Bancshares's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -26.704	/	( (93.247	+	213.46)	/ 2 )
=	-1 * -26.704	/	153.3535
=	17.41 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	93.247	+	0
=	93.247

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	213.46	+	0
=	213.46

South Atlantic Bancshares's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -40.192	/	( (213.46	+	204.673)	/ 2 )
=	-1 * -40.192	/	209.0665
=	19.22 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	213.46	+	0
=	213.46

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	204.673	+	0
=	204.673

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

South Atlantic Bancshares (OTCPK:SABK) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

South Atlantic Bancshares Effective Interest Rate on Debt % Related Terms

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South Atlantic Bancshares (South Atlantic Bancshares) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » South Atlantic Bancshares Inc (OTCPK:SABK) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

630 29th Avenue North, Myrtle Beach, SC, USA, 29577

Website

https://www.southatlantic.bank

South Atlantic Bancshares Inc is A United States-based bank holding company. The business activity of the bank is to provide banking services to domestic markets. Its product offering includes Personal and business checking, Savings, and Money market accounts, along with Residential mortgages, Commercial Loans, and Lines of credit. The bank also offers other services like mobile banking application, treasury, remote deposit capture, and merchant card services; telephone and online banking, and ATM services; and debit and credit cards.