Bank of South Carolina Q3 net income rises 13% to $2.42 million; net interest margin widens 55 bps to 4.85%
BKSC•Bank of South Carolina reported Q3 net income of $2.42 million, up 13% year over year, and diluted EPS of $0.44, up 16%. Net interest margin widened to 4.85% from 4.30%.
1. Quarterly results
Annualized return on average assets improved to 1.71%, and the efficiency ratio edged down to 53.20%. Loans past due more than 30 days rose to 0.28% from 0.21% a year earlier, while the community bank leverage ratio increased to 11.93%. CEO Eugene H. Walpole IV cited steady local loan demand, a solid capital position and low past-due loans heading into year-end.
