StockNews.AI
BKSC
StockNews.AI
40 days

Bank of South Carolina Corporation Announces Second Quarter Earnings

1. BKSC reported Q2 2025 net income of $1,956,155, an 11.54% increase. 2. Earnings per share rose to $0.36 from $0.32 last year. 3. Net interest margin exceeded 4% for the second consecutive quarter. 4. Loan demand remains strong, with low nonperforming loans. 5. First half earnings grew 19.83% year-over-year to $3,750,169.

11m saved
Insight
Article

FAQ

Why Very Bullish?

The earnings growth significantly surpasses expectations, which typically drives stock prices up. Historical data suggests sustained performance can lead to increased investor confidence and higher stock valuations.

How important is it?

The article highlights strong financial performance and steady growth, which are vital indicators for investor sentiment and stock valuation. Positive earnings trend is particularly crucial for OTCQX-listed stocks like BKSC.

Why Short Term?

Investors will likely react quickly to positive earnings reports, resulting in immediate price increases. Similar past scenarios have shown that substantial earnings reports lead to rapid stock price appreciation.

Related Companies

FITBFNRGBANC
, /PRNewswire/ -- The Bank of South Carolina Corporation (OTCQX: BKSC) announced unaudited earnings of $1,956,155, or $0.36 basic and $0.35 diluted earnings per share for the quarter ended June 30, 2025 – an increase of $202,357, or 11.54%, from earnings for the quarter ended June 30, 2024 of $1,753,798, or $0.32 basic and diluted earnings per share. Unaudited earnings for the six months ended June 30, 2025 increased $620,575, or 19.83%, to $3,750,169 compared to $3,129,594 for the six months ended June 30, 2024. Annualized returns on average assets and average equity for the six months ended June 30, 2025 were 1.33% and 13.73%, respectively, compared with June 30, 2024 annualized returns on average assets and average equity of 1.04% and 13.21%, respectively. Eugene H. Walpole, IV, President and Chief Executive Officer, stated, "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 the same period in 2024. This strong performance is primarily driven by the continued improvement in our net interest margin, which exceeded 4% for the second consecutive quarter and highlights the effectiveness of our disciplined pricing strategy.  To be firmly ahead of both last year's earnings to date and the current-year profit plan is a credit to our exceptional team of professional bankers.  Meanwhile, loan demand across our markets remains robust, and our customers continue to prosper, as reflected in the low percentage of nonperforming loans on our balance sheet.  As we enter the second half of the year, we remain steadfast in our commitment to delivering outstanding customer service, upholding a high standard of asset quality, and leveraging capital with a long-term perspective." Selected Condensed Consolidated Financial Data (Unaudited) For the Three Months Ended June 30,2025 March 31,2025 December 31,2024 September 30,2024 June 30,2024 Total Interest and Fee Income $       7,202,647 $       6,737,106 $       6,818,624 $       6,848,831 $       6,702,792 Total Interest Expense 1,304,294 1,325,566 1,406,681 1,566,695 1,564,362 Net Interest Income 5,898,353 5,411,540 5,411,943 5,282,136 5,138,430 Provision for Credit Losses 100,000 50,000 25,000 - 50,000 Net Interest Income After Provision for Credit Losses 5,798,353 5,361,540 5,386,943 5,282,136 5,088,430 Total Other Income 421,104 480,342 483,085 485,206 471,075 Total Other Expense 3,663,556 3,491,502 3,498,230 3,412,935 3,339,934 Income Before Income Tax Expense 2,555,901 2,350,380 2,371,798 2,354,407 2,219,571 Income Tax Expense 599,746 556,366 553,519 552,544 465,773 Net Income $       1,956,155 $       1,794,014 $       1,818,279 $       1,801,863 $       1,753,798 Earnings Per Share - Basic $                0.36 $                0.33 $                0.33 $                0.33 $                0.32 Earnings Per Share - Diluted $                0.35 $                0.32 $                0.33 $                0.33 $                0.32 Return on Average Assets 1.37 % 1.28 % 1.27 % 1.24 % 1.19 % Return on Average Equity 13.95 % 13.51 % 13.69 % 14.04 % 14.71 % Common Stock Shares Outstanding 5,422,475 5,429,005 5,432,762 5,445,519 5,457,907 Book Value Per Share $              10.47 $              10.12 $                9.63 $                9.71 $                8.93 Efficiency Ratio 57.97 % 59.26 % 59.34 % 59.18 % 59.54 % Net Interest Margin 4.33 % 4.07 % 3.97 % 3.82 % 3.68 % % Loans Past Due > 30 Days 0.29 % 0.47 % 0.25 % 0.16 % 0.19 % Allowance for Credit Losses as a % of Total Loans 1.06 % 1.04 % 1.01 % 1.04 % 1.04 % Community Bank Leverage Ratio 11.19 % 11.17 % 10.97 % 10.72 % 10.39 % Quarterly Averages: Total Assets $    572,875,953 $    566,714,762 $    569,812,437 $    578,014,415 $    590,639,502 Total Loans $    363,065,921 $    363,853,692 $    363,015,990 $    358,623,795 $    359,514,482 Total Deposits $    501,217,309 $    498,326,696 $    500,693,110 $    512,024,560 $    516,221,132 Total Shareholders' Equity $      56,244,469 $      53,865,410 $      52,837,535 $      51,043,788 $      47,951,482 About Bank of South Carolina CorporationThe Bank of South Carolina Corporation is the holding company of The Bank of South Carolina ("The Bank"). The Bank is a South Carolina state-chartered financial institution with offices in Charleston, North Charleston, Summerville, Mt. Pleasant, James Island, and the West Ashley community and has been in continuous operation since 1987.  Our website is www.banksc.com. Bank of South Carolina Corporation currently trades its common stock on the OTCQX® Best Market under the symbol "BKSC". Forward-Looking-StatementsThis release contains forward-looking statements that are not historical facts and that are intended to be "forward-looking statements" as that term is defined by the Private Securities Litigation Reform Act of 1995.  These forward-looking statements may include, but are not limited to, statements about the Company's plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts and pertain to the Company's future operating results.  When used in this release, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions are generally intended to identify forward-looking statements.  Actual results may differ materially from the results discussed in these forward-looking statements, because such statements are inherently subject to significant assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control.  These include but are not limited to: the possibility of adverse economic developments that may, among other things, increase default and delinquency risks in the Company's loan portfolios; shifts in interest rates; shifts in the rate of inflation; shifts in the demand for the Company's loan and other products; unforeseen increases in costs and expenses; lower-than-expected revenue or cost savings in connection with acquisitions; changes in accounting policies; changes in the monetary and fiscal policies of the federal government; and changes in laws, regulations and the competitive environment.  Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. SOURCE BANK OF SOUTH CAROLINA WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News