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.
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.
The Bank of South Carolina Corporation (BKSC) reported unaudited earnings of $1,726,937 for Q3 2021, reflecting a 1.39% increase from Q3 2020. Basic and diluted earnings per share were $0.31 and $0.30, respectively. For the nine months ended September 30, 2021, net income rose by 10.16% to $5,205,696. Despite low loan demand, earnings were supported by the mortgage operation. The company announced a new office opening in Q2 2023 on James Island, enhancing its market presence.
The Board of Directors of Bank of South Carolina Corporation (NASDAQ: BKSC) announced a quarterly cash dividend of $0.17 per share. This dividend is payable to shareholders of record on October 5, 2021, and will be disbursed on October 29, 2021. This marks the 128th quarterly cash dividend distributed to shareholders in over 34 years. Fleetwood S. Hassell, President and CEO, emphasized the company's strong capital position as they progress through the year.
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.