Bank Of South Carolina Corporation

Bank Of South Carolina Corporation operates as an independent, community-oriented commercial bank, providing a broad range of financial services and products. The Bank of South Carolina was organized on October 22, 1986, and began operations as a state-chartered financial institution on February 26, 1987, in Charleston, South Carolina. It was reorganized into a wholly-owned subsidiary of the Company, effective April 17, 1995. At the time of reorganization, each outstanding share of the Bank was exchanged for two shares of Company stock. The Bank serves the Charleston - North Charleston metro area, encompassing Charleston, Berkeley, and Dorchester counties. It operates five banking house locations: 256 Meeting Street, Charleston, SC; 100 North Main Street, Summerville, SC; 1337 Chuck Dawley Boulevard, Mt. Pleasant, SC; 2027 Sam Rittenberg Boulevard, Charleston, SC; and 9403 Highway 78, North Charleston, SC. A future banking house location at 1730 Maybank Highway, Charleston, SC, is expected to open in June 2023. The Charleston - North Charleston metro area grew 8.24% from 2018 to 2021 based on real gross domestic product. Charleston and Berkeley counties are ranked in the top ten economies in South Carolina based on real gross domestic product. The largest nonfarm employers in the market area are from trade, transportation, utilities, government, and professional and business services, including manufacturing campuses for Boeing, Volvo Cars, and Mercedes-Benz Vans. In October 2022, the Charleston area unemployment rate was 3.1%.