Third-quarter earnings at the Bank of South Carolina Corp. jumped nearly 20 percent from a year ago, the Charleston-based holding company said today.
The bank owner said its net income for the July-September period was $1.06 million.
For the first nine months of the year, earnings totaled $3.1 million, up 16 percent.
The bank also announced plans today to open its first branch in North Charleston and its fifth overall. It will be at U.S. Highway 78 and Ingleside Boulevard.
“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,” CEO Fleetwood S. Hassell said in a statement.
The 26-year-old Bank of South Carolina has offices in downtown Charleston, Mount Pleasant, Summerville and West Ashley.