South Atlantic Bancshares hires CFO

Myrtle Beach, S.C.-based South Atlantic Bancshares Inc., the parent of South Atlantic Bank, hired Matthew Hobert as executive vice president and CFO for the company.

Hobert was previously director of investment banking at FIG Partners/Janney Montgomery Scott in Atlanta.

Current Executive Vice President Richard Burch will continue as COO and will work closely with the accounting team during this time of transition. Burch will continue to lead the deposit operations, loan operations, IT and project management teams as well as serve as the bank's information security officer.