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.
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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.
The Bank of South Carolina Corporation (NASDAQ: BKSC) has declared a quarterly cash dividend of $0.17 per share. Shareholders of record on April 4, 2023 will receive the payment on April 28, 2023. This marks the 134th quarterly cash dividend in the company's history, celebrating its 36th anniversary since inception. The Bank, located in Charleston, has been operational since 1987, and a new office is expected to open in the second quarter of 2023.
The Bank of South Carolina Corporation (NASDAQ: BKSC) announced the retirement of President & CEO Fleetwood S. Hassell, effective September 30, 2023. Hassell will remain on the Board of Directors. Eugene H. Walpole IV, currently Executive Vice President & CFO, will succeed him as President & CEO starting October 1, 2023. Hassell has been with the Bank since 1986 and has led as CEO since 2012. The Board emphasized a well-planned succession to maintain experienced leadership. Walpole has been part of the Bank since 2012 and has played a crucial role in executing the strategic plan.
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.