Bank of South Carolina Corporation Announces Third Quarter Earnings

Core Insights - The Bank of South Carolina Corporation reported record net income of $2.1 million for Q3 2025, marking an 18.97% increase from Q3 2024 [1][2] - Earnings per share (EPS) for the quarter were $0.40 basic and $0.38 diluted, compared to $0.33 for both in the same quarter last year [1][4] - Year-to-date earnings for the first nine months of 2025 reached $5.89 million, a 19.51% increase from $4.93 million in the same period of 2024 [1][2] Financial Performance - Total interest and fee income for Q3 2025 was $7.32 million, up from $7.20 million in Q2 2025 and $6.74 million in Q1 2025 [3] - Net interest income after provision for credit losses was $5.76 million for Q3 2025, compared to $5.80 million in Q2 2025 [3] - The annualized return on average assets for the nine months ended September 30, 2025, was 1.37%, up from 1.10% in the same period of 2024 [1][4] Dividend and Shareholder Value - The company raised its cash dividend for the second consecutive quarter and for the third time in the past twelve months, highlighting a significant milestone in its history [2] - The book value per share increased to $10.88 from $10.47 in the previous quarter [4] Risk Management - The company increased its allowance for credit losses to $250,000 in Q3 2025, reflecting a proactive approach to risk management despite a decline in loans due to anticipated payoffs [2][3]