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Bank of South Carolina Corporation Reports Record Earnings for Q2 2025

On July 10, 2025, the Bank of South Carolina Corporation (OTCQX: BKSC) unveiled its unaudited earnings for the second quarter, revealing a substantial net income of $1,956,155. This figure translates to $0.36 in basic earnings and $0.35 in diluted earnings per share. The latest results reflect an impressive 11.54% increase compared to the previous year’s earnings, which stood at $1,753,798, or $0.32 basic and diluted earnings per share, for the same quarter ending June 30, 2024.

Year-to-Date Financial Highlights

In terms of year-to-date performance, the Bank has reported an increase of $620,575, equating to a 19.83% rise, bringing the total to $3,750,169 for the first six months of 2025, compared to $3,129,594 for the same period in 2024. The Bank’s robust financial trajectory is reflected in its annualized returns, with returns on average assets reaching 1.33% and returns on average equity at 13.73%, showcasing improvement from the previous year’s figures of 1.04% and 13.21% respectively.

Eugene H. Walpole, IV, President and CEO of the Bank of South Carolina, expressed satisfaction with the financial results, stating, "We are pleased to report net income of $1,956,155 for the quarter — our highest second-quarter earnings on record and a 12% increase over last year. This performance is primarily driven by our improved net interest margin, which exceeded 4% for the second consecutive quarter."

Key Factors Driving Growth

The Bank's impressive results have been attributed to a disciplined pricing strategy that effectively boosted its net interest margin, coupled with sustained demand for loans across its market segments. Walpole noted, "Loan demand across our markets remains robust, and our customers continue to prosper, as indicated by the low percentage of nonperforming loans on our balance sheet."

As the Bank advances into the latter half of the year, it maintains a firm commitment to delivering exceptional customer service while ensuring high asset quality and leveraging capital with a focus on long-term growth.

Selected Financial Data

In addition to earnings, the report included several important figures:

• - Total Interest and Fee Income: $7,202,647 for Q2 2025, a rise from $6,702,792 in Q2 2024.
• - Net Interest Income: Recorded at $5,898,353, marking a significant increase from $5,138,430 during the previous year’s second quarter.
• - Total Other Income: Reached $421,104, while Total Other Expense amounted to $3,663,556.
• - The earnings per share also reflect robustness with basic earnings of $0.36 and diluted earnings of $0.35.

With a community bank leverage ratio of 11.19%, the Bank of South Carolina continues to strengthen its financial position and enhance service quality.

Looking Forward

As the second half of the year approaches, the Bank remains focused on expanding its financial footprint and ensuring continued success through strategic planning and a commitment to excellence. This performance underscores the resilience and capability of the team to navigate challenging market conditions effectively and maximize opportunities for growth along the way.

The Bank of South Carolina Corporation has been a trusted financial institution in South Carolina, operating continuously since 1987, with its network spanning Charleston, North Charleston, Summerville, Mt. Pleasant, James Island, and West Ashley. The corporation trades on the OTCQX under the symbol "BKSC." For more information about their services, you can visit their website at www.banksc.com.