Bank of South Carolina Corporation Recognized for Outstanding Performance
CHARLESTON, S.C., June 16, 2011 /PRNewswire/ -- The Bank of South Carolina Corporation, (NASDAQ: BKSC) is pleased with the recognition it has recently received from three different organizations: US Banker, Seifried & Brew, and Fiserv.
The Bank of South Carolina, for the third year in a row, was named one of the Top 200 Community Banks in the United States by US Banker magazine in its June 2011 edition. This ranking is compiled using data from SNL Financial and is based on the three-year return on average equity of banks and thrifts with less than $2 billion of assets at December 31, 2010. The Bank, ranked #103, was the only South Carolina bank on the list.
The Bank of South Carolina was one of three South Carolina banks ranked in the top 15th Percentile of Community Banks nationwide by Seifried & Brew in their Total Risk/Return Composite Ranking Report. The composite ranking combines two main components: risk and reward. For the risk component, Seifried & Brew analyzes each bank's earnings at risk, credit risk, liquidity risk, capital risk, national economic risk and state economic risk. For the reward component, they look at each bank's return on average assets and return on average equity. Banks ranking in the top 15th percentile were recognized as the "epitome of optimization of balancing risk and reward."
Bank of South Carolina Corporation was named by Fiserv as a recipient of the 2011 Proven Performers Award recognizing outstanding sustained performance over the past five years ending December 31, 2010. Only 167 institutions nationwide qualified as a 2011 Proven Performer. Fiserv noted "You are to be commended for your bank's ongoing success in managing profitability, growth and risk during an unprecedented period for the banking industry."
Hugh C. Lane, Jr., President of the Bank of South Carolina, stated, "We were pleased to receive this recognition and are especially proud to be able to sustain this level of performance over time and in this challenging economy."
The Bank of South Carolina, a De Novo Charter, which opened in 1987 at 256 Meeting Street, has offices in Summerville, Mt. Pleasant, and the West Ashley community. Our website is www.banksc.com. Bank of South Carolina Corporation currently trades its common stock on the NASDAQ stock market under the symbol "BKSC".
SOURCE Bank of South Carolina Corporation