South Atlantic Bancshares (South Atlantic Bancshares) Credit Losses Provision : $0.76 Mil (As of Mar. 2024)

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What is South Atlantic Bancshares Credit Losses Provision?

South Atlantic Bancshares's credit losses provision for the three months ended in Mar. 2024 was $0.18 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Mar. 2024 was $0.76 Mil.

South Atlantic Bancshares's quarterly credit losses provision increased from Sep. 2023 ($0.00 Mil) to Dec. 2023 ($0.40 Mil) but then declined from Dec. 2023 ($0.40 Mil) to Mar. 2024 ($0.18 Mil).

South Atlantic Bancshares's annual credit losses provision increased from Dec. 2021 ($1.32 Mil) to Dec. 2022 ($1.95 Mil) but then declined from Dec. 2022 ($1.95 Mil) to Dec. 2023 ($0.76 Mil).

South Atlantic Bancshares Credit Losses Provision Historical Data

The historical data trend for South Atlantic Bancshares's Credit Losses Provision 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 Credit Losses Provision Chart

South Atlantic Bancshares Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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0.81

1.69

1.32

1.95

0.76

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
Credit Losses Provision	Get a 7-Day Free Trial															0.18	0.18	-	0.40	0.18

South Atlantic Bancshares Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.76 Mil.

South Atlantic Bancshares (South Atlantic Bancshares) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » South Atlantic Bancshares Inc (OTCPK:SABK) » Definitions » Credit Losses Provision

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Traded in Other Exchanges

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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.