Published Aug. 13, 2012
Tidelands Bancshares, the parent company for Mount Pleasant-based Tidelands Bank, narrowed its loss in the second quarter.
The bank recorded a net loss of $150,204 for the quarter compared with a loss of $6.15 million during the same period in 2011.
For the first half of the year, however, the bank recorded a return to profitability. The bank’s net income for the first six months was $113,254 compared with a loss of $10.38 million during the same period last year.
The bank operates seven branches in South Carolina.