Bank of South Carolina Q4 net income up 17.5% to $1.81M; FY net income down 1.3%

BANK OF SOUTH CAROLINA CORP

2022-FY EPS reported $1.18

Full year 2022 net income of $6.66M ($1.20 basic EPS) down 1.3% from $6.74M ($1.22) in 2021.
Q4 2022 net income rose 17.5% to $1.81M ($0.33 basic EPS) from $1.54M ($0.28) in Q4 2021.
Book value per share fell to $6.99 from $9.73; total assets decreased to $653M from $679M.
ROA and ROE were 1.01% and 15.26% for 2022 vs 1.14% and 12.30% in 2021.
CEO cites improved interest spreads but slower mortgage activity; new James Island office to open soon.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANK OF SOUTH CAROLINA CORP reported three months ended December 31, 2022 results: net income $1,807,785, EPS $0.33 basic, $0.32 diluted.

Period: three months ended December 31, 2022
Net income: $1,807,785
EPS: $0.33 basic, $0.32 diluted
Result: reported results

Exact text from the filing

Earnings for the three months ended December 31, 2022 increased $268,616 or 17.45% to $1,807,785 compared to $1,539,169 for the three months ended December 31, 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANK OF SOUTH CAROLINA CORP reported twelve months ended December 31, 2022 results: net income $6,655,140, EPS $1.20 basic, $1.18 diluted.

Period: twelve months ended December 31, 2022
Net income: $6,655,140
EPS: $1.20 basic, $1.18 diluted
Result: reported results

Exact text from the filing

The Bank of South Carolina Corporation (Nasdaq: BKSC) announced unaudited earnings of $6,655,140 or $1.20 and $1.18 basic and diluted per share, respectively, for the year ended December 31, 2022

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Source: SEC EDGAR

accession 0000950170-23-000688

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