CHARLESTON, S.C., April 10, 2018 /PRNewswire/ -- The Bank of South
Carolina Corporation, (Nasdaq: BKSC) announced earnings of
$1,612,230 or $0.32 basic and diluted per share for the quarter
ended March 31, 2018 – an increase of
31.49% from earnings for the quarter ended March 31, 2017 of $1,226,088 or $0.25
and $0.24 basic and diluted per
share, respectively. Returns on average assets and average equity
for the three months ended March 31,
2018 were 1.51% and 15.17%, respectively, compared with 2017
returns on average assets and average equity of 1.21% and 11.95%,
respectively.
In addition, at its March 22, 2018
meeting, the Board of Directors of Bank of South Carolina
Corporation approved a 10% stock dividend payable May 31, 2018 to shareholders of record as of
April 30, 2018.
Fleetwood S. Hassell, President
of the Bank of South Carolina,
stated, "Over the past six years, we have been able to raise our
regular cash dividend four times, declare a one-time special cash
dividend, and now for the second time in three years, reward our
shareholders again with this ten percent stock dividend – all the
while maintaining exemplary capital levels. We are grateful to our
shareholders, customers and employees for staying the course as we
continue on in our next thirty plus years."
The Bank of South Carolina, a
De Novo Charter, which opened in 1987 at 256 Meeting Street, has
offices in Summerville,
Mt. Pleasant, and the West Ashley
community. Our website is www.banksc.com. Bank of South Carolina
Corporation currently trades its common stock on the NASDAQ stock
market under the symbol "BKSC".
Bank of South
Carolina Corporation
(BKSC)
|
Report of
Earnings
|
|
|
|
|
|
|
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March
31,
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March
31,
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2018
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2017
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Shares
Outstanding
|
|
|
|
BKSC Common
Stock
|
4,990,879
|
|
4,971,539
|
|
|
|
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Book Value Per
Share
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$
8.55
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$
8.38
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Total
Assets
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$
434,684,173
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$
428,796,627
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|
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3 Months
Ending
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|
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Net
Income
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$
1,612,230
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$
1,226,088
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Basic Earnings Per
Share
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$
0.32
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$
0.25
|
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Diluted Earnings Per
Share
|
$
0.32
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$
0.24
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Weighted Average
Shares
|
|
|
|
Outstanding
Basic
|
4,990,079
|
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4,962,250
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|
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|
|
|
|
|
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Weighted Average
Shares
|
|
|
|
Outstanding
Diluted
|
5,075,791
|
|
5,073,101
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content:http://www.prnewswire.com/news-releases/bank-of-south-carolina-corporation-announces-first-quarter-earnings--dividend-300627574.html
SOURCE Bank of South Carolina Corporation