Bank of South Carolina: Gains as Q1 profit rises

Bank of South Carolina

13/04/2021 15:13

** Shares of Bank of South Carolina  BKSC.O  rise 1.7% to
$20.50 in morning trade
    ** Co reports Q1 earnings of $1.8 mln, an increase of 19%
from year-ago period  urn:newsml:reuters.com:*:nPnbT7Z9Ja
    ** Says Q1 annualized returns on average assets and average
equity were 1.37% and 13.26%, respectively, compared with 1.38%
and 11.70%, respectively a year earlier
    ** "Robust mortgage activity continues to produce strong
earnings for the bank, as interest rates remain low and housing
inventory scarce" - President Fleetwood Hassell 
    ** In addition, processing fee income derived from the Small
Business Administration's and Department of Treasury's PPP
program has further bolstered quarterly earnings, Hassell adds
    ** Shares up ~28% so far this year

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))