Bank of South Carolina Q1 net income falls 19% to $1.46M; EPS $0.26 vs $0.33

BANK OF SOUTH CAROLINA CORP

2022-Q1 EPS reported $0.26

Net income $1.464M, down 19.11% from $1.810M; diluted EPS $0.26 vs $0.32.
Annualized ROA 0.88% and ROE 11.24% vs 1.37% and 13.26% year ago.
Book value per share fell to $8.10 from $9.60; total assets grew to $665M.
President cited lower mortgage fee income, PPP fee decline, thin margins; loan demand improving.
Annual meeting: all 19 directors re-elected; say-on-pay and auditor ratification passed with 85.15% quorum.

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