NasdaqCM:BKSC

Stock Analysis Report

Bank of South Carolina

Executive Summary

Bank of South Carolina Corporation operates as the holding company for The Bank of South Carolina that provides commercial banking services to individuals, professionals, and small and middle market businesses in South Carolina.

Rewards

Trading at 2.5% below its fair value

Earnings grew by 23.2% over the past year

Risk Analysis

Unstable dividend track record



Snowflake Analysis

Flawless balance sheet with solid track record.


Similar Companies

Share Price & News

How has Bank of South Carolina's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BKSC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.4%

BKSC

-1.0%

US Banks

0.5%

US Market


1 Year Return

2.9%

BKSC

10.6%

US Banks

20.3%

US Market

Return vs Industry: BKSC underperformed the US Banks industry which returned 10.6% over the past year.

Return vs Market: BKSC underperformed the US Market which returned 20.3% over the past year.


Shareholder returns

BKSCIndustryMarket
7 Day-0.4%-1.0%0.5%
30 Day-1.1%-1.2%2.0%
90 Day0.2%0.4%9.4%
1 Year7.0%2.9%13.8%10.6%22.8%20.3%
3 Year10.8%-0.1%23.5%14.6%50.1%40.4%
5 Year82.1%54.2%74.0%54.2%73.1%54.1%

Price Volatility Vs. Market

How volatile is Bank of South Carolina's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Bank of South Carolina undervalued compared to its fair value and its price relative to the market?

2.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BKSC ($18.8) is trading below our estimate of fair value ($19.27)

Significantly Below Fair Value: BKSC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BKSC is poor value based on its PE Ratio (14.1x) compared to the Banks industry average (12.6x).

PE vs Market: BKSC is good value based on its PE Ratio (14.1x) compared to the US market (18.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BKSC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BKSC is overvalued based on its PB Ratio (2.1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Bank of South Carolina forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

2.2%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Bank of South Carolina has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Bank of South Carolina performed over the past 5 years?

9.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BKSC has high quality earnings.

Growing Profit Margin: BKSC's current net profit margins (37.4%) are higher than last year (31.5%).


Past Earnings Growth Analysis

Earnings Trend: BKSC's earnings have grown by 9.8% per year over the past 5 years.

Accelerating Growth: BKSC's earnings growth over the past year (23.2%) exceeds its 5-year average (9.8% per year).

Earnings vs Industry: BKSC earnings growth over the past year (23.2%) exceeded the Banks industry 12.3%.


Return on Equity

High ROE: BKSC's Return on Equity (14.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Bank of South Carolina's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: BKSC has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if BKSC's debt is covered by short term assets.


Financial Institutions Analysis

Asset Level: BKSC's level of assets compared to its equity is low.

Allowance for Bad Loans: BKSC has a sufficient allowance for bad loans.

Low Risk Liabilities: BKSC's liabilities are made up of primarily low risk sources of funding.

Loan Level: BKSC has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BKSC's loans are broadly funded by customer deposits.

Level of Bad Loans: BKSC has an appropriate level of bad loans (0.62%)


Next Steps

Dividend

What is Bank of South Carolina's current dividend yield, its reliability and sustainability?

3.40%

Current Dividend Yield


Dividend Yield vs Market

company3.4%marketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: BKSC's dividend (3.4%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: BKSC's dividend (3.4%) is low compared to the top 25% of dividend payers in the US market (3.73%).


Stability and Growth of Payments

Stable Dividend: BKSC's dividend payments have been volatile in the past 10 years.

Growing Dividend: BKSC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (47.3%), BKSC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.7yrs

Average management tenure


CEO

Fleetwood Hassell (59yo)

7.8yrs

Tenure

US$314,088

Compensation

Mr. Fleetwood S. Hassell has been the President and Chief Executive Officer of The Bank of South Carolina Corporation and its subsidiary Bank of South Carolina since April 11, 2012. Mr. Hassell served as a ...


CEO Compensation Analysis

Compensation vs Market: Fleetwood's total compensation ($USD314.09K) is below average for companies of similar size in the US market ($USD521.92K).

Compensation vs Earnings: Fleetwood's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Fleetwood Hassell
President7.8yrsUS$314.09k2.02% $2.1m
Eugene Walpole
Executive VP1.8yrsno data0.20% $204.0k
Susanne Boyd
Executive VP1.8yrsno data0.17% $177.7k
Richard Hutson
Secretary & Non Employee Director15.1yrsUS$5.55k0.13% $136.2k
Douglas Sass
Executive VP6.8yrsUS$223.91k0.70% $732.2k
Mignonne Buhrmaster
Senior Vice President of Human Resources0yrsno datano data
Charlie Ledford
Member of Advisory Board - West Ashley0yrsno datano data
Lauren Nilan
Vice President of Internal Controls and Risk Management Officer4.7yrsno datano data
Costa Thomas
Assistant Secretary0yrsno datano data

4.7yrs

Average Tenure

60yo

Average Age

Experienced Management: BKSC's management team is considered experienced (4.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Fleetwood Hassell
President7.8yrsUS$314.09k2.02% $2.1m
Eugene Walpole
Executive VP1.8yrsno data0.20% $204.0k
Susanne Boyd
Executive VP1.8yrsno data0.17% $177.7k
Richard Hutson
Secretary & Non Employee Director15.1yrsUS$5.55k0.13% $136.2k
Douglas Sass
Executive VP6.8yrsUS$223.91k0.70% $732.2k
Hugh Lane
Chairman of the Board25.1yrsUS$317.75k5.71% $5.9m
William Hiott
Non Employee Director25.1yrsUS$9.15k3.77% $3.9m
Alan Nussbaum
Lead Director0yrsUS$6.80k0.078% $81.0k
Steven Swanson
Non Executive Director8.8yrsUS$5.70k0.30% $311.6k
Graham Eubank
Non-Employee Director15.1yrsUS$4.55k0.019% $19.6k

13.8yrs

Average Tenure

60yo

Average Age

Experienced Board: BKSC's board of directors are seasoned and experienced ( 13.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bank of South Carolina Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bank of South Carolina Corporation
  • Ticker: BKSC
  • Exchange: NasdaqCM
  • Founded: 1986
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$104.185m
  • Shares outstanding: 5.53m
  • Website: https://www.banksc.com

Number of Employees


Location

  • Bank of South Carolina Corporation
  • 256 Meeting Street
  • PO Box 538
  • Charleston
  • South Carolina
  • 29401
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BKSCNasdaqCM (Nasdaq Capital Market)YesCommon SharesUSUSDOct 1986

Biography

Bank of South Carolina Corporation operates as the holding company for The Bank of South Carolina that provides commercial banking services to individuals, professionals, and small and middle market businesses in South Carolina. The company offers a range of deposit products, including non-interest bearing demand accounts, NOW accounts, money market accounts, time deposits, and savings accounts, as well as certificates of deposit. It also provides secured and unsecured loans; commercial real estate loans; consumer loans, including construction, real estate, HELOCs, and mortgage; and home equity loans and lines of credit. It operates through Charleston, Summerville, and Mount Pleasant banking house locations in South Carolina. Bank of South Carolina Corporation was founded in 1986 and is headquartered in Charleston, South Carolina. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 23:51
End of Day Share Price2020/02/19 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.