By Ashley Barker
Published Feb. 17, 2014
The Bank of South Carolina is preparing to open its fifth branch in the Lowcountry, according to President Fleetwood Hassell.
A groundbreaking event will be held next month for a 40,000-square-foot, two-story building in the Ingleside development of North Charleston, Hassell said. The bank plans to open a full-service branch in about 7,000 square feet of the office building.
“We looked long and hard for the right location, and that is the future of North Charleston,” Hassell said. “We hope to be in it during the first quarter of next year.”
The branch will initially have seven employees and that number will eventually grow to 10, according to Hassell.
The new branch will be located near Highway 78. Hassell said there are no plans for further expansion after the North Charleston branch.
“We’re dedicated to growing the share of the market that we’re in,” he said. “We’re excited to be citizens of North Charleston.”
The Bank of South Carolina — which opened in 1987 at 256 Meeting St. in downtown Charleston — already has branches in Summerville, West Ashley and Mount Pleasant. The bank announced in January that its earnings were more than $4 million for the year ended Dec. 31. That was an increase of 11.18% from earnings for 2012 of nearly $3.7 million.
Reach Ashley Barker at 843-849-3144 or @AshleyNBarker.