Bank of South Carolina Corporation (BKSC) | Investment Case

1. Company Snapshot

1.a. Company Description

Bank of South Carolina Corporation operates as a bank holding company for The Bank of South Carolina that provides a range of financial products and services primarily in Charleston, Berkeley, and Dorchester counties of South Carolina.Its deposits include non-interest-bearing demand accounts, NOW accounts, money market accounts, time deposits, and savings accounts, as well as certificates of deposit.The company offers secured and unsecured commercial loans, commercial real estate construction loans, consumer construction loans, home equity lines of credit, and mortgage originations, as well as paycheck protection program loans.

It operates five banking house locations.The company was founded in 1986 and is headquartered in Charleston, South Carolina.

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1.b. Last Insights on BKSC

The recent performance of Bank of South Carolina Corporation was driven by strong earnings growth, with unaudited earnings increasing by 22.87% to $6,749,736, or $1.24 and $1.23 basic and diluted earnings per share, respectively, for the year ended December 31, 2024. The company's quarterly cash dividend of $0.19 per share, declared on December 19, 2024, demonstrates its commitment to distributing profits to shareholders. This, combined with the strong earnings growth, highlights the bank's financial health and stability.

1.c. Company Highlights

Last Price	16.05
Change Percentage	-0.19%
Open	16.05
Previous Close	16.08
Market Cap ( Millions)	87
Volume	1100
Year High	17.45
Year Low	12.8
M A 50	16.02
M A 200	14.84

FCF Yield	0.00%
Dividend Yield	5.11%
ROE	14.30%
Debt / Equity	0.00%
Net Debt / EBIDTA	0.00%
Price To Book	1.72
Price Earnings Ratio	12.17
Price To FCF	0
Price To sales	4.03
EV / EBITDA	9.03

2. Transcript Summary

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3. NewsRoom

Bank of South Carolina Corporation Announces Third Quarter Earnings

Oct -09

Source: prnewswire.com

Bank of South Carolina Corporation Declares Increased Dividend

Sep -25

Source: prnewswire.com

Bank of South Carolina Ranked 66th Among Nation's Top 100 Publicly Traded Community Banks

Jul -22

Source: prnewswire.com

Bank of South Carolina Corporation Announces Second Quarter Earnings

Jul -10

Source: prnewswire.com

Bank of South Carolina Corporation Declares Increased Dividend

Jun -26

Source: prnewswire.com

Bank of South Carolina Corporation Announces Management Succession Plan

Apr -09

Source: prnewswire.com

Bank of South Carolina Corporation Announces First Quarter Earnings

Apr -08

Source: prnewswire.com

Bank of South Carolina Corporation Declares Dividend

Mar -27

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Retail Banking

Expected Growth: 4.5%

Growing demand for digital banking, increasing adoption of online payment systems, and rising need for personalized financial services drive the retail banking market growth.

7. Detailed Products

Personal Banking

Bank of South Carolina Corporation offers a range of personal banking services, including checking and savings accounts, credit cards, personal loans, and mortgages.

Business Banking

The company provides business banking services, including commercial loans, lines of credit, cash management, and merchant services.

Wealth Management

Bank of South Carolina Corporation offers wealth management services, including investment management, trust services, and financial planning.

Mortgage Lending

The company provides mortgage lending services, including residential and commercial mortgages, construction loans, and home equity loans.

Treasury Management

Bank of South Carolina Corporation offers treasury management services, including cash management, wire transfers, and account reconciliation.

Online Banking

The company provides online banking services, including bill pay, fund transfers, and account management.

8. Bank of South Carolina Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Bank of South Carolina Corporation is moderate due to the presence of alternative financial institutions and digital payment systems.

Bargaining Power Of Customers

The bargaining power of customers is low due to the lack of concentration in the banking industry and the high switching costs for customers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low due to the bank's ability to negotiate with suppliers and the lack of concentration in the supplier market.

Threat Of New Entrants

The threat of new entrants is low due to the high barriers to entry in the banking industry, including regulatory hurdles and capital requirements.

Intensity Of Rivalry

The intensity of rivalry is high due to the competitive nature of the banking industry, with many established players competing for market share.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	99.71%
Debt Cost	3.95%
Equity Weight	0.29%
Equity Cost	6.65%
WACC	3.95%
Leverage	34647.37%

11. Quality Control: Bank of South Carolina Corporation passed 5 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Bank of South Carolina

A-Score: 7.5/10

Value: 6.3

Growth: 3.9

Quality: 8.8

Yield: 8.0

Momentum: 9.0

Volatility: 9.3

1-Year Total Return ->

Meridian

A-Score: 6.5/10

Value: 7.9

Growth: 4.2

Quality: 5.1

Yield: 7.0

Momentum: 8.0

Volatility: 7.0

1-Year Total Return ->

TriCo

A-Score: 6.3/10

Value: 6.1

Growth: 4.8

Quality: 8.2

Yield: 6.0

Momentum: 5.0

Volatility: 7.7

1-Year Total Return ->

ESSA Bancorp

A-Score: 6.2/10

Value: 5.1

Growth: 5.2

Quality: 5.0

Yield: 6.0

Momentum: 7.0

Volatility: 8.7

1-Year Total Return ->

Plumas Bank

A-Score: 6.1/10

Value: 3.8

Growth: 6.9

Quality: 7.4

Yield: 5.0

Momentum: 6.5

Volatility: 7.3

1-Year Total Return ->

ConnectOne

A-Score: 5.0/10

Value: 4.2

Growth: 5.0

Quality: 4.3

Yield: 6.0

Momentum: 4.0

Volatility: 6.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-2.56%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

3.95%

Bank of South Carolina Corporation - US0650661020

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on BKSC

1.c. Company Highlights

Weak Momentum

Better Quality

Average Yield

Expensive

Higher Yield

Stable Momentum

Average Growth

Average Quality

Medium Volatility

Fairly Valued

Strong Momentum

Less Volatile

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Retail Banking

Expected Growth: 4.5%

7. Detailed Products

Personal Banking

Business Banking

Wealth Management

Mortgage Lending

Treasury Management

Online Banking

8. Bank of South Carolina Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Bank of South Carolina Corporation passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

16.05$

Current Price

16.05$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA