South Atlantic Bank agrees to buy Eastover Capital Management

South Atlantic Bank, the subsidiary of South Atlantic Bancshares, has entered into an agreement to acquire Eastover Investment Advisors LLC, which does business as Eastover Capital Management. The bank said the deal adds wealth management services to its growth strategy.

Eastover had about $430 million in assets under management as of September 30, 2026, and has grown its client base across North Carolina and South Carolina under president Will Mackey over the past fifteen years. Mackey will continue to lead the team as a separate division of the bank.

The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions. Hunton Andrews Kurth LLP advised South Atlantic and the bank, and Alexander Ricks PLLC advised Eastover.