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. It operates as a community-oriented financial institution offering traditional financial services to consumers and businesses in its primary market area. It accepts deposits from the public and uses these funds to originate loans. The Bank, through a third-party registered broker-dealer, offers its customers non-deposit investment products, including mutual funds, debt, equity and government securities, retirement accounts, insurance products, and fixed and variable annuities. Its primary market area is Asheville, North Carolina and the rest of Buncombe County where it has over eight branch offices, as well as Henderson, Madison, McDowell and Transylvania Counties where it has over five branch offices and a loan production office in Mecklenburg County.