Welcome to our dedicated page for Bank Sth Carolna news (Ticker: BKSC), a resource for investors and traders seeking the latest updates and insights on Bank Sth Carolna stock.
Bank of South Carolina Corporation (NASDAQ: BKSC) operates as the bank holding company for the Bank of South Carolina. Established in 1986, the company offers a comprehensive range of financial services designed for individuals, professionals, and small to mid-sized businesses across South Carolina. Its robust suite of deposit products includes non-interest bearing demand accounts, NOW accounts, money market accounts, time deposits, savings accounts, and certificates of deposit. In addition, the company extends various lending services, such as secured and unsecured commercial loans, commercial real estate loans, consumer loans, construction loans, home equity loans, and lines of credit.
Headquartered in Charleston, South Carolina, the Bank of South Carolina operates through several strategically located banking offices in Charleston, North Charleston, Summerville, Mount Pleasant, James Island, and West Ashley. Despite facing challenges from increasing deposit expenses and competitive pressures, the bank remains committed to quality asset management, expense control, and superior customer service.
Recent financial results reflect the bank’s adaptive strategies in response to an evolving economic climate. For the quarter ended June 30, 2023, the bank reported unaudited earnings of $1,277,717, marking a decrease of 17.19% compared to the same quarter in 2022. Similarly, the nine months ended September 30, 2023, saw earnings of $4,129,866, a 14.80% drop from the previous year. Despite these declines, the bank maintains a strong asset quality with minimal past due loans and anticipates positive impacts from upcoming investment portfolio maturities.
Looking forward, Bank of South Carolina is optimistic about future growth. With strategic initiatives like their new office on James Island, a recently announced stock repurchase program, and ongoing efforts to rebalance income streams, the bank positions itself for continued success. As a publicly traded entity on the NASDAQ under the symbol 'BKSC', the company remains a significant player in South Carolina's financial landscape.
Stay tuned to our latest updates and financial news for more insights into our performance and future plans.
The Bank of South Carolina Corporation (Nasdaq: BKSC) reported unaudited earnings of $6,655,140 for 2022, down 1.33% from 2021. Basic and diluted earnings per share decreased to $1.20 and $1.18, respectively. However, Q4 earnings rose 17.45% to $1,807,785, with EPS at $0.33. Despite a decline in returns on average assets and equity, the bank maintains a strong position and plans to open a new office in James Island in 2023 to enhance future growth.
Bank of South Carolina Corporation (NASDAQ: BKSC) has declared a quarterly cash dividend of $0.17 per share. Shareholders of record by December 27, 2022, will receive this payment on January 31, 2023. This marks the 133rd quarterly cash dividend paid in over 35 years of continuous operation. President Fleetwood S. Hassell expressed optimism about the company's performance in 2023.
The Bank of South Carolina Corporation (NASDAQ: BKSC) reported unaudited net income of $1,840,267 for Q3 2022, translating to earnings per share of $0.33, a 6.56% increase from $1,726,937 in Q3 2021. However, net income for the nine months ended September 30, 2022, decreased by 6.88% to $4,847,355. Annualized returns on assets and equity were 0.98% and 14.11%, respectively, down from 1.23% and 12.64% in the previous year. The bank emphasizes that rising interest rates are balancing a decline in mortgage contributions.
The Board of Directors of Bank of South Carolina Corporation (NASDAQ: BKSC) declared a quarterly cash dividend of $0.17 per share, payable to shareholders of record on October 4, 2022, with a payment date of October 31, 2022. This dividend marks the 132nd quarterly cash dividend paid over more than 35 years. CEO Fleetwood S. Hassell emphasized the bank's strong capital position and operational focus as they navigate the year.
The Bank of South Carolina Corporation (NASDAQ: BKSC) reported unaudited earnings of $1,542,981 or $0.28 per share for Q2 2022, marking a 7.5% decline from $1,668,684 in Q2 2021. Year-to-date earnings also fell by 13.6% to $3,007,088. Returns on average assets and equity dropped to 0.90% and 12.57% respectively. Despite these challenges, the bank ranked 68th in a list of top community banks. The management expressed optimism regarding improving margins and loan interest income in the second half of the year.
The Bank of South Carolina Corporation (NASDAQ: BKSC) has declared a quarterly cash dividend of $0.17 per share, marking the 131st consecutive quarterly dividend. Shareholders of record by July 5, 2022 will receive this payment on July 29, 2022. President and CEO Fleetwood S. Hassell expressed satisfaction in maintaining the dividend amid ongoing market volatility, showcasing the bank's commitment to its shareholders.
The Bank of South Carolina Corporation (BKSC) reported its first quarter earnings for 2022, showing a net income of $1,464,106 or $0.26 per share, down 19.11% from $1,810,075 or $0.33 per share in the same quarter of 2021. Annualized returns on average assets decreased to 0.88% from 1.37%, and average equity returns dropped to 11.24% from 13.26%. Challenges included decreased fee income, reduced PPP program fees, and low margins, although loan demand is improving amid a changing rate environment.
Bank of South Carolina Corporation (NASDAQ: BKSC) declared a quarterly cash dividend of $0.17 per share, set for shareholders of record on April 3, 2022, payable on April 29, 2022. This marks the 130th quarterly cash dividend in the company's history, which recently celebrated its 35th anniversary on February 26, 2022. The Bank has been operational since 1987 and is recognized as the oldest bank headquartered in Charleston.
The Bank of South Carolina Corporation (BKSC) reported unaudited earnings for 2021 of $6,744,866, or $1.22 per share, marking a 4.40% increase from 2020's $6,460,631 earnings. However, fourth-quarter earnings fell 11.30% year-over-year to $1,539,170. The bank’s return on average assets and equity decreased to 1.14% and 12.30% respectively. Despite lower earnings in Q4, management noted strong fee income from PPP and mortgage origination, preparing for challenges ahead in 2022, including reduced fee income and a tight labor market.
On December 16, 2021, the Board of Directors of Bank of South Carolina Corporation (NASDAQ: BKSC) declared a quarterly cash dividend of $0.17 per share for shareholders of record on December 28, 2021, with payment set for January 31, 2022. This marks the 129th quarterly dividend paid over more than 34 years. CEO Fleetwood S. Hassell emphasized the bank's strong capitalization and commitment to continued success.
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