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Bank of South Carolina Q1 earnings $1,612,230

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Staff Writer |
Bank of South Carolina
Bank of South Carolina   $0.32 basic and diluted per share

The Bank of South Carolina Corporation announced earnings of $1,612,230 or $0.32 basic and diluted per share for the first quarter ended March 31, 2018.

This is 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."

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