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Bank of South Carolina earnings increased 16.17%

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Staff writer |
Bank of South CarolinaThe Bank of South Carolina Corporation announced earnings of $3,107,056 or $.70 per share, for the nine months ended September 30, 2013, an increase of 16.17% from the same period of 2012.


Returns on average assets and average equity for the nine months ended September 30, 2013 were 1.27% and 11.97%, respectively, compared with 2012 returns on average assets and average equity of 1.12% and 10.76%, respectively.

Earnings for the three months ended September 30, 2013 increased $170,515 or 19.08% to $1,064,177 compared to $893,662 for the three months ended September 30, 2012.

"Our model of safe and sound banking practices over the past 27 years has resulted in great success for our financial institution and its employees, customers, and shareholders. Now, we are excited to announce our intention to open a future office in North Charleston on Highway 78 and Ingleside Boulevard led by veteran banker Terry Strawn," said Fleetwood S. Hassell, president of the Bank of South Carolina.

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