South Atlantic Bank to Acquire Eastover Investment Advisors LLC
South Atlantic Bancshares (OTCQX: SABK) agreed to acquire Eastover Investment Advisors, a Charlotte-based registered investment advisor with approximately $430 million in assets under management. The deal adds wealth management to the ~$2.0 billion-asset community bank's service mix, diversifying revenue into fee income; Eastover will operate as a separate division of South Atlantic Bank under Will Mackey.
Key figures
- Target aum
- 430000000
- Bank total assets
- 2000000000
AI analysis
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