South Atlantic Bank has agreed to acquire Eastover Investment Advisors, which operates as Eastover Capital Management, expanding the bank into wealth management services. Eastover managed approximately $430 million in assets as of September 30, 2026.
The Charlotte, North Carolina-based registered investment advisor provides portfolio management services to individual and institutional clients and combines equity strategies with investment-grade fixed-income allocations.
Eastover President Will Mackey will continue leading the business following completion of the acquisition.
The firm will operate as a separate division of South Atlantic Bank while expanding across the bank’s existing geographic footprint.
South Atlantic said the transaction supports its strategy of diversifying revenue while allowing customers to access a broader range of financial services.
The two organizations have an established relationship, with South Atlantic having been an Eastover client for more than 15 years.
South Atlantic Bancshares, the parent company of South Atlantic Bank, had approximately $2 billion in total assets as of September 30, 2026.
The bank operates 12 locations across coastal South Carolina, including Myrtle Beach, Charleston, Hilton Head Island, Bluffton, Summerville, Georgetown, and surrounding markets.
Its services include consumer and commercial banking, mortgages, treasury management, deposit products, merchant services, and digital banking.
The transaction is expected to close during the fourth quarter of 2026, subject to customary closing conditions.
Hunton Andrews Kurth served as legal advisor to South Atlantic Bancshares and South Atlantic Bank, while Alexander Ricks represented Eastover.
KEY QUOTES:
“Our two companies have a long history of working together, and we are excited to combine forces to better serve both of our customer bases. By expanding our wealth management capabilities, we are strengthening our ability to serve clients across a broad base of financial needs, while continuing to build diversified and sustainable revenue sources to deliver long term franchise value.”
R. Scott Plyler, President Of South Atlantic
“The long tenured personal and professional relationship between our two companies, and shared vision to continue to grow Eastover creates a unique opportunity to realize the synergies of this combination.”
Will Mackey, President Of Eastover Capital Management
