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 (BKSC) is a commercial banking company in the finance and insurance sector and the parent company for The Bank of South Carolina. Its news flow centers on quarterly and annual earnings, dividend declarations, stock repurchase programs, and management updates, giving investors insight into how the company manages profitability, capital, and leadership.
Regular earnings announcements provide unaudited quarterly and year-end results, including net income, earnings per share, net interest income, other income, and other expense. These releases also feature key performance metrics such as return on average assets, return on average equity, net interest margin, efficiency ratio, community bank leverage ratio, and measures of asset quality like loans past due more than 30 days and allowance for credit losses as a percentage of total loans.
BKSC news also highlights dividend activity, with the Board of Directors declaring recurring quarterly cash dividends and, at times, announcing dividend increases. The company notes the sequence of its quarterly dividends and emphasizes when the cash dividend has been raised, including instances of consecutive quarterly increases. In addition, the company announces share repurchase authorizations and the completion of prior repurchase programs, describing how and under what conditions repurchases may be executed.
Another category of news involves management and governance. The company has reported a management succession plan for key roles such as Executive Vice President & Senior Lender, Senior Lender, and Chief Credit Officer, outlining leadership transitions and the continued involvement of experienced executives. Investors who follow BKSC news can monitor these earnings trends, capital actions, and leadership developments in one place, and may wish to revisit this page as new company announcements are released.
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.