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Bank of South Carolina announces earnings

  • Updated
Bank of South Carolina announces earnings

The Bank of South Carolina is based on Meeting Street.

Fourth-quarter earnings at the Bank of South Carolina Corp. edged up 3 percent from a year earlier, while profits climbed by 11 percent for all of 2015.

The Charleston-based lender said its net income for the October-December period came in at slightly more than $1.2 million, or 24 cents a share.

For the full year, its earnings totaled nearly $4.9 million.

“Consistent and fundamental banking has led to another year of record earnings for the bank,” CEO Fleetwood S. Hassell said in a written statement Thursday. “As we begin our 30th year of the bank’s organization, we are reminded of the principles of service, responsiveness and attention to detail that have guided us all these years. I am very proud of what our employees have accomplished.”

The Bank of South Carolina opened in 1987. It has four branches in downtown Charleston, Mount Pleasant, Summerville and West Ashley. The bank’s parent company plans to pay a cash dividend of 13 cents a share on Jan. 29.

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