The Bank of South Carolina

Headquarters

256 Meeting Street
Charleston, SC 29401
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 1.40% →
1-Year CD N.A. 1.15% →
2-Year CD N.A. 1.26% →
5-Year CD N.A. 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

The Bank of South Carolina is an FDIC insured institution located in Charleston, SC. It was founded in 1987 and has approximately $0.45 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 26912
Date Established 1987
Assets $ 445.07 million
Loans $ 275.13 million
Deposits $ 380.57 million
Capital $ 50.73 million
 

For a more detailed analysis of The Bank of South Carolina's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - July 4, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - July 4, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for The Bank of South Carolina

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
3.039% 3.000% 0.50 $1,250 $1,055 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
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Note to The Bank of South Carolina
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Branches

The Bank of South Carolina branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


The Bank of South Carolina Locations


Financial Details

The Bank of South Carolina Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of The Bank of South Carolina. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
The Bank of South Carolina U.S. Bank Average
3.04% 6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2019, The Bank of South Carolina had $1,666,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $50,732,000 in equity and $4,004,000 in loans loss reserves. That gives it a Texas Ratio of 3.04%.

Return on Equity
The Bank of South Carolina U.S. Bank Average
15.6% 9.41%

The Bank of South Carolina has a Return on Equity of 15.6% versus the BestCashCow average of 9.41%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
The Bank of South Carolina U.S. Bank Average
11.4% 12.82%

The Bank of South Carolina has a Capitalization of 11.4% versus the BestCashCow average of 12.82. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

The Bank of South Carolina Balance Sheet Analysis

As of December 31, 2019, The Bank of South Carolina had assets of $445,067,000, loans of $275,131,000, and deposits of $380,566,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 49.10 million
Interest-bearing balances $ 39.32 million
Total securities $ 100.45 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 275.13 million
Loan loss allowance $ 4.00 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 2.90 million
     Total Assets $ 394.34 million
LIABILITIES
Total deposits $ 380.57 million
      Interest-bearing deposits $ 254.67 million
      Deposits held in domestic offices $ 380.57 million
      % insured (estimated) 64.78%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 13.21 million
Subordinated debt N.A.
All other liabilities $ 0.56 million
      Total Liabilities $ 394.34 million
      Shareholders’ Equity $ 50.73 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 19.86 million
Total Interest Expense $ 0.82 million
Net interest income $ 19.04 million
Provision for loan and lease losses $ 0.18 million
Total non interest income $ 1.87 million
Total non interest expense $ 11.03 million
Pre-tax Net Operating Income $ 9.70 million

Bank Loan Profile?

The top three loan types in The Bank of South Carolina’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in South Carolina, The Bank of South Carolina has a significantly higher percent of Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 37.89
Multifamily
Mortgages
1.10
Credit Card Loans 0.00
Consumer Auto Loans 0.17
Small Business Loans 8.48
Construction and Development Loans 14.40
Commercial Real Estate 26.25
Commercial and Industrial Loans 19.15
Farm Loans 0.29

Frequently Asked Questions About The Bank Of South Carolina

Branches and Savings

Is The Bank Of South Carolina FDIC insured?

Yes. It is covered under FDIC Certificate #26912.

Why does The Bank Of South Carolina pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are The Bank Of South Carolina CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is The Bank Of South Carolina a commercial bank?

Yes

Where are The Bank Of South Carolina locations?

See branch locations nearby.

Is The Bank Of South Carolina open on Saturdays?

Is The Bank Of South Carolina open on Sundays?

What time does The Bank Of South Carolina open?

What time does The Bank Of South Carolina close?

Are The Bank Of South Carolina ATMs Open 24/7?

Do The Bank Of South Carolina ATMs accept cash deposits?

Can The Bank Of South Carolina customers use other ATMs?

Do The Bank Of South Carolina branches have notaries?

Will The Bank Of South Carolina notarize my document?

What address for The Bank Of South Carolina should I put for incoming ACH transfers?

Will the The Bank Of South Carolina branch print checks?

Do The Bank Of South Carolina checks expire?

Does The Bank Of South Carolina require US citizenship to open account?

Can The Bank Of South Carolina close my account?

Does The Bank Of South Carolina Report to credit bureaus?

Does The Bank Of South Carolina Use Equifax?

What is The Bank Of South Carolina's ACH Routing Number?

What is The Bank Of South Carolina's SWIFT code?

Products

Does The Bank Of South Carolina offer mortgages?

Compare mortgage rates here.

Does The Bank Of South Carolina offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does The Bank Of South Carolina offer personal loans?

Compare personal loan rates here.

Does The Bank Of South Carolina offer student loans?

Will The Bank Of South Carolina cash a check?

Will The Bank Of South Carolina redeem a savings bond?

Does The Bank Of South Carolina cash savings bonds?

Will The Bank Of South Carolina cash money orders?

Can The Bank Of South Carolina issue a money order?

Does The Bank Of South Carolina do currency exchange?

Background on The Bank

Who owns The Bank Of South Carolina?

How long has The Bank Of South Carolina been around?

Can The Bank Of South Carolina transfer to other banks?

Does The Bank Of South Carolina have quick pay?

Does The Bank Of South Carolina accept rolled coins?

Will The Bank Of South Carolina accept loose change?

Where is The Bank Of South Carolina headquarters?

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