Earnings jump in 4Q at Charleston-based Bank of South Carolina

The Bank of South Carolina reported record earnings in 2014.

Fourth-quarter earnings jumped 23 percent from a year ago at the Bank of South Carolina Corp.

The Charleston-based lender said Thursday it net income rose to almost $1.2 million for the October-December period. On a per-share basis, earnings totaled 26 cents for the quarter

For the full year, the bank earned almost $4.4 million, or 99 cents a share, a gain of nearly 8 percent compared to 2013.

"Strong deposit growth, excellent control of expenses, and consistent lending has led to record earnings," CEO Fleetwood S. Hassell said in a written statement. "We are very proud of this accomplishment."

The Bank of South Carolina has four branches in downtown Charleston, Mount Pleasant, Summerville and West Ashley. Its fifth full-service office is expected to open this year at U.S. Highway 78 and Ingleside Boulevard in North Charleston.