Finding genuine achievement in today’s banking world is never simple, but some community banks make a habit of turning heads. The Bank of South Carolina Corporation (OTCQX: BKSC) just proved that it belongs in that exclusive group, landing the 66th spot on American Banker magazine’s list of the Top 100 publicly traded community banks with assets under $2 billion. As an added feather in its cap, it stands as the only South Carolina-based bank in this national ranking, a point not lost on those watching the state’s financial landscape.
The American Banker accolade is not simply an annual shout-out. Industry experts at the Capital Performance Group assembled this list using a data-driven approach, focusing on the three-year average return on equity from 2022 through 2024. Think of it as a long view that rewards banks with steady performance rather than sudden bursts. For this year’s ranking, analysts sifted through 348 eligible institutions across the country that met strict criteria on regulatory reporting, capital strength, and consistent profitability. This is not a pool where lightly regarded players float by on luck or one-off gains.
When you scroll through the list, certain trends pop out. Larger institutions often grab headlines, but community banks under $2 billion in assets are the workhorses of countless Main Streets. Their importance shines in environments where customer loyalty means as much as net interest margin. Bank of South Carolina is a fixture in the Charleston lowcountry, with roots stretching back to 1987. Its six branches, spread from Summerville to James Island, offer everything from plain demand deposit accounts to construction loans, serving a broad slice of individuals and businesses.
The financial metrics underlying this honor tell a deeper story. From 2022 to 2024, Bank of South Carolina maintained a strong average return on equity, a core measure of profitability. For fiscal 2024, the Bank saw revenue of $22.35 million, an increase of more than 10% from the prior year. Net earnings also climbed, exceeding $6.7 million, an improvement of nearly 23%. In a sector known for volatility driven by economic cycles and interest rate shifts, that kind of stability counts for a lot.
Capital Performance Group, which develops the methodology for this ranking, relies on public filings and supplementary regulatory data. Their screens remove institutions that lack sufficient capital strength or whose returns might be distorted by unusual tax events. That process, combined with a three-year lens, makes sure that the final list recognizes banks that have kept their edge over changing conditions and not just in a single lucky year.
Leadership at the Bank of South Carolina has been upfront about the recognition. President and CEO Eugene H. Walpole, IV, credits the team’s consistency and the enduring trust of customers and shareholders. While most companies trot out similar statements after an award, those familiar with running a local bank know that building lasting value in a community requires more than business-school platitudes. In smaller markets, financial results often track closely with the bank’s local reputation, a factor that is hard to quantify but essential for continued relevance.
As for operational details, the Bank remains a South Carolina-chartered institution. With a market capitalization now exceeding $78 million, and earnings per share of $1.30, the Bank demonstrates the kind of disciplined performance and steady dividends that attract long-term investors. Its 2024 dividend yield sits above 5%, an attractive figure for shareholders seeking income in a climate where rates have bounced unpredictably.
Industry watchers should also note: Bank of South Carolina is not a one-off regional curiosity but one of only a handful of banks nationwide able to maintain such consistency as sector consolidation and larger players crowd the space.
While there will surely be more rankings to come and many more storylines in banking, Bank of South Carolina’s appearance in the Top 100 signals its staying power in a competitive and often unforgiving environment.
