This will cost me $104.48.
Bank of South Carolina Corporation Strengthens Reserves
CHARLESTON, S.C., Sept. 24 /PRNewswire-FirstCall/ -- The Board of Directors of Bank of South Carolina Corporation, (Nasdaq: BKSC - News) the parent Company for The Bank of South Carolina, announced that it elected to omit paying its third quarter dividend in order to fund an increase to the Provisions for Loan Losses, to raise its reserves. Hugh C. Lane, Jr., President and Chief Executive Officer of The Bank of South Carolina, stated, "After a long term evaluation of our significant loan and deposit growth, the economy, and listening to regulator expectations, we decided that additional funding to the provision for loan losses is the proper strategy in today's environment. This action is voluntary, and will further strengthen the position of the Company today and into the future."
The Board of Directors of the Company intends to resume the payment of dividends in the fourth quarter. |
