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 reports recurring bank-company developments through earnings releases, dividend announcements and capital management updates. The company is the parent of The Bank of South Carolina and trades on OTCQX under BKSC.
Company news commonly covers quarterly and annual net income, earnings per share, returns on average assets and equity, net interest margin, loan demand, funding costs, investment securities, credit quality and interest-rate risk. Other recurring announcements address quarterly cash dividends, dividend increases and common-stock repurchase authorizations.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
The Bank of South Carolina Corporation (NASDAQ: BKSC) reported unaudited earnings of $1,588,779 or $0.29 earnings per share for Q1 2023, an 8.52% increase from $1,464,106 or $0.26 in Q1 2022. The company achieved annualized returns of 1.00% on average assets and 15.73% on average equity, up from 0.89% and 11.40% respectively. However, President Fleetwood S. Hassell noted that while earnings improved, the bank is not meeting its profit plan due to rising deposit costs driven by intense competition. Although loan interest income is increasing, profit margins are thin, and uncertainty persists regarding potential Federal Reserve rate hikes. The bank is set to open its sixth office on James Island.