Bank of South Carolina Corporation operates as a bank holding company for The Bank of South Carolina that provides financial products and services primarily in Charleston, Dorchester, and Berkeley counties of South Carolina. Its deposit products include non-interest-bearing demand accounts, NOW accounts, money market accounts, time deposits, and savings accounts, as well as certificates of deposit. The company also offers secured and unsecured commercial loans, commercial real estate construction loans, consumer construction loans, home equity lines of credit, and automated clearing house originations, as well as paycheck protection program loans. The company was founded in 1986 and is headquartered in Charleston, South Carolina.
Bank of South Carolina Corporation Announces Second Quarter Earnings
Bank of South Carolina Corporation reported record second-quarter earnings of $2.32 million, an 18.55% increase year-over-year, driven by solid loan and deposit growth.
Diluted earnings per share rose to $0.42 from $0.35 in the prior year, while net interest margin expanded to 4.71% from 4.33%.
The company highlighted its strong capital position, with a community bank leverage ratio of 11.63%, and noted ongoing execution of its share repurchase program and recent dividend increase.