ASB Bancorp, Inc. is the holding company for Asheville Savings Bank (the Bank). The Company's principal business activity is the ownership of the outstanding shares of common stock of the Bank. The Bank is a chartered savings bank that offers traditional financial services to consumers and businesses in its primary market area. The Bank accepts deposits from the general public and uses these funds to originate primarily one-to-four family residential mortgage loans and commercial real estate loans and, to a lesser extent, home equity loans and lines of credit, consumer loans, construction and land development loans, and commercial and industrial loans. The Bank through a third-party registered broker-dealer, offers its customers a complete range of non-deposit investment products, including mutual funds, debt, equity and government securities, retirement accounts, insurance products, and fixed and variable annuities.