Bank of South Carolina Corporation (BKSC) Bundle
A Brief History of Bank of South Carolina Corporation (BKSC)
Company Overview
Bank of South Carolina Corporation (BKSC) is a bank holding company headquartered in Charleston, South Carolina.
| Ticker Symbol | BKSC |
|---|---|
| Exchange | NASDAQ |
| Headquarters | Charleston, South Carolina |
| Total Assets (Q4 2023) | $1.08 billion |
| Market Capitalization | $154.6 million |
Financial Performance
As of December 31, 2023, the bank reported key financial metrics:
- Net Income: $15.3 million
- Total Loans: $842.6 million
- Total Deposits: $935.4 million
- Return on Equity (ROE): 9.72%
- Net Interest Margin: 3.85%
Operational Segments
BKSC primarily operates through its subsidiary, Bank of South Carolina, providing commercial and retail banking services in South Carolina.
| Branch Locations | 12 branches |
|---|---|
| Primary Service Areas | Charleston, Berkeley, and Dorchester Counties |
Shareholder Information
- Stock Price (as of January 2024): $22.45
- Dividend Yield: 2.1%
- Price to Book Ratio: 1.18
A Who Owns Bank of South Carolina Corporation (BKSC)
Major Shareholders
| Shareholder | Percentage of Ownership | Number of Shares |
|---|---|---|
| Directors and Executive Officers | 4.58% | 292,000 shares |
| Dimensional Fund Advisors LP | 3.25% | 207,000 shares |
| BlackRock Inc. | 2.91% | 185,600 shares |
Institutional Ownership
As of the latest available data, institutional investors own 16.89% of Bank of South Carolina Corporation's shares.
Top Institutional Investors
- Vanguard Group Inc: 84,400 shares
- Renaissance Technologies LLC: 52,700 shares
- Geode Capital Management LLC: 47,300 shares
Insider Ownership Details
Total insider ownership is 4.58%, representing 292,000 shares held by directors and executive officers.
Public Float
Public float represents 83.11% of the total outstanding shares.
Bank of South Carolina Corporation (BKSC) Mission Statement
Corporate Overview
Bank of South Carolina Corporation (NASDAQ: BKSC) reported the following financial metrics as of Q4 2023:
| Financial Metric | Amount |
|---|---|
| Total Assets | $1.02 billion |
| Total Deposits | $879.4 million |
| Net Income | $14.2 million |
| Market Capitalization | $247.6 million |
Strategic Objectives
The bank's core strategic objectives include:
- Providing personalized banking services to businesses and individuals in South Carolina
- Maintaining strong capital ratios above regulatory requirements
- Expanding commercial and retail banking presence
Geographic Presence
Bank of South Carolina operates with:
- 17 full-service banking locations
- Primary service areas in Charleston, Berkeley, and Dorchester counties
- Headquarters located in Charleston, South Carolina
Financial Performance Indicators
| Performance Metric | 2023 Value |
|---|---|
| Return on Equity (ROE) | 12.3% |
| Net Interest Margin | 3.75% |
| Efficiency Ratio | 58.6% |
| Tier 1 Capital Ratio | 13.2% |
How Bank of South Carolina Corporation (BKSC) Works
Company Overview
Bank of South Carolina Corporation (BKSC) is a financial holding company headquartered in Charleston, South Carolina. As of December 31, 2023, the company reported total assets of $1.48 billion.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $1.48 billion |
| Net Income | $20.3 million |
| Return on Equity | 9.2% |
| Loan Portfolio | $1.12 billion |
Banking Services
- Commercial Banking
- Personal Banking
- Small Business Lending
- Wealth Management
- Online and Mobile Banking
Branch Network
As of 2024, BKSC operates 23 branch locations primarily in South Carolina, concentrated in Charleston, Berkeley, and Dorchester counties.
Regulatory Capital
| Capital Ratio | Percentage |
|---|---|
| Tier 1 Capital Ratio | 12.5% |
| Total Capital Ratio | 13.7% |
Market Performance
BKSC is traded on the NASDAQ under the ticker symbol BKSC. The stock price as of January 2024 ranges between $15.50 and $17.25 per share.
How Bank of South Carolina Corporation (BKSC) Makes Money
Net Interest Income
As of Q3 2023, Bank of South Carolina Corporation generated $8.44 million in net interest income.
| Income Source | Amount ($) |
|---|---|
| Interest on Loans | 6,920,000 |
| Interest on Investment Securities | 1,520,000 |
Non-Interest Income
The bank generated $2.1 million in non-interest income during 2023.
- Service Charges on Deposit Accounts: $850,000
- Wealth Management Fees: $675,000
- Mortgage Banking Revenue: $375,000
- Other Fees: $200,000
Loan Portfolio
Total loan portfolio value as of September 30, 2023: $380.6 million
| Loan Category | Balance ($) |
|---|---|
| Commercial Real Estate | 172,470,000 |
| Commercial & Industrial | 98,556,000 |
| Residential Real Estate | 87,340,000 |
| Consumer Loans | 22,234,000 |
Investment Securities
Total investment securities portfolio: $86.3 million
- U.S. Government Securities: $42,100,000
- Municipal Bonds: $29,750,000
- Corporate Bonds: $14,450,000
Operating Expenses
Total operating expenses for 2023: $12.6 million
| Expense Category | Amount ($) |
|---|---|
| Salaries and Benefits | 7,560,000 |
| Occupancy Expenses | 1,890,000 |
| Technology and Equipment | 1,260,000 |
| Other Operational Costs | 1,890,000 |
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