Bank of South Carolina Q2 net income down 17% to $1.28M; EPS $0.23 vs $0.28

BANK OF SOUTH CAROLINA CORP

2023-Q2 EPS reported $0.51

Net income $1.28M vs $1.54M YoY; diluted EPS $0.23 vs $0.27.
Six-month net income $2.87M vs $3.01M, down 4.7%.
Total assets $648.4M; book value per share $7.67 vs $7.50.
CEO cites deposit expense pressure from intense competition and higher/longer rates.
Opened sixth office on James Island; declared quarterly cash dividend; stock repurchase program announced.

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 0.9

BANK OF SOUTH CAROLINA CORP reported Three months ended June 30, 2023 results: net income $1,277,717, EPS $0.23 basic and diluted.

Period: Three months ended June 30, 2023
Net income: $1,277,717
EPS: $0.23 basic and diluted
Result: reported results

Exact text from the filing

Unaudited earnings of $1,277,717, or $0.23 basic and diluted earnings per share for the quarter ended June 30, 2023 – a decrease of $265,265, or 17.19%, from earnings for the quarter ended June 30, 2022 of $1,542,982, or $0.28 and $0.27 basic and diluted earnings per share, respectively.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BANK OF SOUTH CAROLINA CORP reported Six months ended June 30, 2023 results: net income $2,866,496, EPS $0.52 basic, $0.51 diluted.

Period: Six months ended June 30, 2023
Net income: $2,866,496
EPS: $0.52 basic, $0.51 diluted
Result: reported results

Exact text from the filing

Unaudited earnings for the six months ended June 30, 2023 decreased $140,592 or 4.68%, to $2,866,496 compared to $3,007,088 for the six months ended June 30, 2022.

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Source: SEC EDGAR

accession 0000950170-23-032768

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