Website: N/A
Stock Symbol: NASDAQ: BKSC
Market Value: N/A (in millions)
On February 26, 1987, The Bank of South Carolina (the “Bank”), a state-chartered
financial institution, opened for business. Organized originally on October 22,
1986, the Bank was reorganized into a wholly-owned subsidiary of Bank of South
Carolina Corporation (the “Company”), effective April 17, 1995. At the time of
the reorganization, each outstanding share of the Bank was exchanged for two
shares of Bank of South Carolina Corporation Stock.
The Company, a bank holding company within the meaning of the Bank Holding
Company Act of 1956, as amended and as such, is under the supervisory and
regulatory authority of the Board of Governors of the Federal Reserve System
(the “Federal Reserve”). As a bank holding company registered under the laws of
the South Carolina Bank Holding Company Act, the Company is also subject to
regulation by the South Carolina State Board of Financial Institutions.