Bank of South Carolina Corporation Announces First Quarter Earnings
Bank of South Carolina (BKSC) reported strong Q1 2025 performance with unaudited earnings of $1,794,014, or $0.33 basic and $0.32 diluted earnings per share, marking a significant 30.40% increase from Q1 2024. The bank achieved improved profitability metrics with annualized returns on average assets of 1.28% and average equity of 13.51%, up from 0.89% and 11.69% respectively in Q1 2024.
Key financial highlights include net interest income of $5,411,540, with total interest and fee income reaching $6,737,106. The bank's efficiency ratio improved to 59.26% from 65.17% year-over-year, while the net interest margin strengthened to 4.07% from 3.20%. Asset quality remained solid with loans past due over 30 days at 0.47%, and the allowance for credit losses maintained at 1.04% of total loans.
La Banca del Sud Carolina (BKSC) ha riportato una forte performance nel primo trimestre del 2025 con utili non verificati di $1.794.014, ovvero $0,33 di utili base e $0,32 di utili diluiti per azione, segnando un incremento significativo del 30,40% rispetto al primo trimestre del 2024. La banca ha raggiunto metriche di redditività migliorate con un ritorno annualizzato sugli attivi medi dell'1,28% e un capitale medio del 13,51%, in aumento rispetto all'0,89% e all'11,69% rispettivamente nel primo trimestre del 2024.
I principali risultati finanziari includono un reddito netto da interessi di $5.411.540, con un reddito totale da interessi e commissioni che ha raggiunto $6.737.106. Il rapporto di efficienza della banca è migliorato al 59,26% dal 65,17% su base annua, mentre il margine di interesse netto è aumentato al 4,07% dal 3,20%. La qualità degli attivi è rimasta solida con prestiti scaduti oltre i 30 giorni all'0,47%, e l'accantonamento per perdite su crediti mantenuto all'1,04% del totale dei prestiti.
El Banco de Carolina del Sur (BKSC) reportó un sólido desempeño en el primer trimestre de 2025 con ganancias no auditadas de $1,794,014, o $0.33 de ganancias básicas y $0.32 de ganancias diluidas por acción, lo que representa un aumento significativo del 30.40% en comparación con el primer trimestre de 2024. El banco logró métricas de rentabilidad mejoradas con un retorno anualizado sobre activos promedio del 1.28% y un capital promedio del 13.51%, en comparación con el 0.89% y el 11.69% respectivamente en el primer trimestre de 2024.
Los principales aspectos financieros incluyen un ingreso neto por intereses de $5,411,540, con un ingreso total por intereses y comisiones que alcanzó los $6,737,106. El ratio de eficiencia del banco mejoró al 59.26% desde el 65.17% interanual, mientras que el margen de interés neto se fortaleció al 4.07% desde el 3.20%. La calidad de los activos se mantuvo sólida con préstamos atrasados más de 30 días al 0.47%, y la provisión para pérdidas crediticias mantenida en el 1.04% del total de préstamos.
사우스 캐롤라이나 은행 (BKSC)는 2025년 1분기에 비감사 기준으로 $1,794,014의 강력한 실적을 보고했으며, 기본 주당 순이익은 $0.33, 희석 주당 순이익은 $0.32로, 2024년 1분기 대비 30.40%의 상당한 증가를 기록했습니다. 은행은 평균 자산에 대한 연환산 수익률이 1.28%, 평균 자본이 13.51%로 개선되어 2024년 1분기의 0.89%와 11.69%에서 상승했습니다.
주요 재무 하이라이트에는 $5,411,540의 순이자 수익이 포함되며, 총 이자 및 수수료 수익은 $6,737,106에 달했습니다. 은행의 효율성 비율은 전년 대비 65.17%에서 59.26%로 개선되었고, 순이자 마진은 3.20%에서 4.07%로 강화되었습니다. 자산 품질은 30일 이상 연체된 대출이 0.47%로 견고하게 유지되었으며, 신용 손실 대비 충당금은 총 대출의 1.04%로 유지되었습니다.
La Banque de Caroline du Sud (BKSC) a rapporté une forte performance au premier trimestre 2025 avec des bénéfices non audités de $1.794.014, soit $0,33 de bénéfice de base et $0,32 de bénéfice dilué par action, marquant une augmentation significative de 30,40% par rapport au premier trimestre 2024. La banque a atteint des indicateurs de rentabilité améliorés avec un rendement annualisé sur les actifs moyens de 1,28% et un capital moyen de 13,51%, en hausse par rapport à 0,89% et 11,69% respectivement au premier trimestre 2024.
Les principaux points financiers comprennent un revenu net d'intérêts de $5.411.540, avec un revenu total d'intérêts et de frais atteignant $6.737.106. Le ratio d'efficacité de la banque s'est amélioré à 59,26% contre 65,17% d'une année sur l'autre, tandis que la marge d'intérêt nette s'est renforcée à 4,07% contre 3,20%. La qualité des actifs est restée solide avec des prêts en retard de plus de 30 jours à 0,47%, et la provision pour pertes sur créances maintenue à 1,04% du total des prêts.
Die Bank von South Carolina (BKSC) berichtete über eine starke Leistung im ersten Quartal 2025 mit ungeprüften Gewinnen von $1.794.014, was $0,33 Grund- und $0,32 verwässerte Gewinne pro Aktie entspricht und einen signifikanten Anstieg von 30,40% im Vergleich zum ersten Quartal 2024 darstellt. Die Bank erzielte verbesserte Rentabilitätskennzahlen mit annualisierten Renditen auf durchschnittliche Vermögenswerte von 1,28% und einem durchschnittlichen Eigenkapital von 13,51%, was einem Anstieg von 0,89% und 11,69% im ersten Quartal 2024 entspricht.
Wichtige Finanzkennzahlen umfassen einen Nettozinsertrag von $5.411.540, wobei die gesamten Zinsen und Gebührenerträge $6.737.106 erreichten. Das Effizienzverhältnis der Bank verbesserte sich auf 59,26% von 65,17% im Jahresvergleich, während die Nettozinsspanne auf 4,07% von 3,20% gestärkt wurde. Die Vermögensqualität blieb solide mit über 30 Tage überfälligen Krediten bei 0,47%, und die Rückstellungen für Kreditverluste blieben bei 1,04% der Gesamtkredite.
- Net income increased 30.40% year-over-year to $1,794,014
- EPS grew 32% to $0.33 basic from $0.25 year-over-year
- Net interest margin improved significantly to 4.07% from 3.20%
- Return on equity increased to 13.51% from 11.69%
- Efficiency ratio improved to 59.26% from 65.17%
- Book value per share increased to $10.12 from $8.69
- Loans past due >30 days increased to 0.47% from 0.32% year-over-year
- Total assets decreased to $566.7M from $624.7M year-over-year
- Total deposits declined to $498.3M from $519.0M year-over-year
Eugene H. Walpole, IV, President and Chief Executive Officer, stated, "We are pleased to report net income of
Selected Condensed Consolidated Financial Data (Unaudited) | |||||
For the Three Months Ended | |||||
March 31, | December 31, | September 30, | June 30, | March 31, | |
Total Interest and Fee Income | $ 6,737,106 | $ 6,818,624 | $ 6,848,831 | $ 6,702,792 | $ 6,593,463 |
Total Interest Expense | 1,325,566 | 1,406,681 | 1,566,695 | 1,564,362 | 1,861,311 |
Net Interest Income | 5,411,540 | 5,411,943 | 5,282,136 | 5,138,430 | 4,732,152 |
Provision for Credit Losses | 50,000 | 25,000 | - | 50,000 | - |
Net Interest Income After Provision for Credit Losses | 5,361,540 | 5,386,943 | 5,282,136 | 5,088,430 | 4,732,152 |
Total Other Income | 480,342 | 483,085 | 485,206 | 471,075 | 423,497 |
Total Other Expense | 3,491,502 | 3,498,230 | 3,412,935 | 3,339,934 | 3,359,684 |
Income Before Income Tax Expense | 2,350,380 | 2,371,798 | 2,354,407 | 2,219,571 | 1,795,965 |
Income Tax Expense | 556,366 | 553,519 | 552,544 | 465,773 | 420,169 |
Net Income | $ 1,794,014 | $ 1,818,279 | $ 1,801,863 | $ 1,753,798 | $ 1,375,796 |
Earnings Per Share - Basic | $ 0.33 | $ 0.33 | $ 0.33 | $ 0.32 | $ 0.25 |
Earnings Per Share - Diluted | $ 0.32 | $ 0.33 | $ 0.33 | $ 0.32 | $ 0.25 |
Return on Average Assets | 1.28 % | 1.27 % | 1.24 % | 1.19 % | 0.89 % |
Return on Average Equity | 13.51 % | 13.69 % | 14.04 % | 14.71 % | 11.69 % |
Common Stock Shares Outstanding | 5,429,005 | 5,432,762 | 5,445,519 | 5,457,907 | 5,462,794 |
Book Value Per Share | $ 10.12 | $ 9.63 | $ 9.71 | $ 8.93 | $ 8.69 |
Efficiency Ratio | 59.26 % | 59.34 % | 59.18 % | 59.54 % | 65.17 % |
Net Interest Margin | 4.07 % | 3.97 % | 3.82 % | 3.68 % | 3.20 % |
% Loans Past Due > 30 Days | 0.47 % | 0.25 % | 0.16 % | 0.19 % | 0.32 % |
Allowance for Credit Losses as a % of Total Loans | 1.04 % | 1.01 % | 1.04 % | 1.04 % | 1.04 % |
Quarterly Averages: | |||||
Total Assets | $ 566,714,762 | $ 569,812,437 | $ 578,014,415 | $ 590,639,502 | $ 624,732,564 |
Total Loans | $ 363,853,692 | $ 363,015,990 | $ 358,623,795 | $ 359,514,482 | $ 353,396,331 |
Total Deposits | $ 498,326,696 | $ 500,693,110 | $ 512,024,560 | $ 516,221,132 | $ 519,023,338 |
Total Shareholders' Equity | $ 53,865,410 | $ 52,837,535 | $ 51,043,788 | $ 47,951,482 | $ 47,328,863 |
About Bank of South Carolina Corporation
The Bank of South Carolina Corporation is the holding company of The Bank of South Carolina ("The Bank"). The Bank is a
Forward-Looking-Statements
This release contains forward-looking statements that are not historical facts and that are intended to be "forward-looking statements" as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, statements about the Company's plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts and pertain to the Company's future operating results. When used in this release, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are generally intended to identify forward-looking statements. Actual results may differ materially from the results discussed in these forward-looking statements, because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These include but are not limited to: the possibility of adverse economic developments that may, among other things, increase default and delinquency risks in the Company's loan portfolios; shifts in interest rates; shifts in the rate of inflation; shifts in the demand for the Company's loan and other products; unforeseen increases in costs and expenses; lower-than-expected revenue or cost savings in connection with acquisitions; changes in accounting policies; changes in the monetary and fiscal policies of the federal government; and changes in laws, regulations and the competitive environment. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE BANK OF SOUTH CAROLINA
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