Staff Report
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.

Previous coverage

Tidelands Bank returns to profitability
Tidelands bank reports 2011 financial losses, improves from 2010
Tidelands Bancshares amends Q2 losses, releases Q3 gains
Tidelands Bank delisted from Nasdaq
Tidelands Bank president, CEO resigns