Welcome to our dedicated page for BANK OF SO CAROLINA news (Ticker: BKSC), a resource for investors and traders seeking the latest updates and insights on BANK OF SO CAROLINA 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 a net income of $1,668,684 for Q2 2021, translating to basic earnings per share of $0.30, marking an 11.17% increase from $1,501,023 in Q2 2020. For the first half of 2021, net income rose 15.11% to $3,478,759. Despite favorable earnings growth, the bank faces challenges in deploying high liquidity into higher yielding assets, with low current loan demand. The company maintained strong annualized returns on average assets and equity of 1.27% and 12.80%, respectively.
Bank of South Carolina Corporation (NASDAQ: BKSC) declared a quarterly cash dividend of $0.17 per share, payable on July 30, 2021, to shareholders of record by July 6, 2021. This marks the 127th quarterly cash dividend in over 30 years of shareholder rewards. The company was recently recognized as the #35 bank in the nation for three-year return on average equity among publicly traded banks with assets under $2 billion. This recognition highlights the bank's strong performance and commitment to its shareholders.
The Bank of South Carolina Corporation (Nasdaq: BKSC) reported unaudited earnings of $1,810,075, or $0.33 basic and $0.32 diluted earnings per share for Q1 2021, marking a 19% increase from $1,521,131, or $0.28 and $0.27 per share in Q1 2020. The annualized return on average assets and equity were 1.37% and 13.26%, respectively. The bank plans to utilize excess liquidity in higher yielding assets. A special cash dividend of $0.10 will be paid in addition to the regular $0.17 dividend.
The Bank of South Carolina Corporation (NASDAQ: BKSC) announced a quarterly cash dividend of $0.17 per share and a special cash dividend of $0.10 per share, both payable on April 30, 2021, to shareholders of record as of April 6, 2021. This marks the 126th quarterly cash dividend, continuing over 30 years of shareholder returns. CEO Fleetwood S. Hassell noted a successful stock repurchase program, utilizing $400,000 of the $1.0 million authorized, while expressing optimism for the company’s future amid strong capitalization.
The Bank of South Carolina Corporation (BKSC) announced unaudited earnings of $6,460,631 for the year ending December 31, 2020, marking an 11.72% decline from $7,318,433 in 2019. Basic and diluted earnings per share were $1.17 and $1.14, respectively. For Q4 2020, net income fell to $1,735,206, a 2.16% decrease from $1,773,529 in Q4 2019. The company reported a return on average assets of 1.28% and equity of 11.93%, down from 1.66% and 14.86% in 2019. Total assets increased to $532,494,599.
The Bank of South Carolina Corporation (NASDAQ: BKSC) has declared a quarterly cash dividend of $0.17 per share. This dividend is for shareholders of record as of December 29, 2020, and will be payable on January 29, 2021. Marking the 125th quarterly cash dividend since its founding in 1986, this payout reflects the bank's strong earnings and capital position, as noted by President and CEO Fleetwood S. Hassell.
The Bank of South Carolina Corporation (BKSC) reported unaudited earnings of $1,703,271, or $0.31 per share, for Q3 2020, a 15.46% decline from $2,014,791, or $0.36 per share, in Q3 2019. For the first nine months of 2020, earnings fell 14.78% to $4,725,425 compared to $5,544,902 in the same period last year. Annualized returns on average assets and equity decreased to 1.28% and 11.77%, respectively. Despite these challenges, the bank noted steady deposit growth and a strong loan loss reserve.
Bank of South Carolina Corporation (NASDAQ: BKSC) has declared a quarterly cash dividend of $0.17 per share, marking a 6.25% increase. This dividend is payable to shareholders of record on October 5, 2020, with a payment date of October 30, 2020. This announcement signifies the 124th quarterly dividend in over 30 years of consistent shareholder rewards. CEO Fleetwood S. Hassell expressed confidence in the bank's resilience and commitment to a robust local economy amidst recent challenges.
The Bank of South Carolina Corporation (BKSC) reported unaudited earnings of $1,341,636 for Q2 2020, translating to $0.24 per share, a decline of 27.12% compared to $1,840,847 or $0.33 per share in Q2 2019. For the first half of 2020, earnings decreased 14.39% to $3,022,154. Despite the decline in profits, the company noted strong deposit growth and minimal borrower requests for payment deferrals. The bank originated 266 loans totaling over $37 million under the Payroll Protection Program, indicating active support for local businesses.
Bank of South Carolina Corporation (NASDAQ: BKSC) declared a quarterly cash dividend of $0.16 per share, payable on July 31, 2020, to shareholders of record as of July 7, 2020. This marks the 123rd quarterly dividend, reflecting over 30 years of commitment to shareholders. CEO Fleetwood S. Hassell highlighted the bank's recognition as the #25 bank in the nation for three-year return on average equity among institutions under $2 billion in assets. Additionally, the bank was ranked #1 in South Carolina based on overall performance.
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