BANK OF SOUTH CAROLINA CORPORATION - PARENT COMPANY (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of condensed financial statements of parent company

CONDENSED STATEMENTS OF FINANCIAL CONDITION

	2016		2015
Assets
Cash	$	922,595	$	946,996
Investment in wholly-owned bank subsidiary		40,308,166		38,823,720
Other assets		76,077		20,154
Total assets	$	41,306,838	$	39,790,870
Liabilities and shareholders’ equity
Other liabilities	$	693,864	$	639,158
Shareholders’ equity		40,612,974		39,151,712
Total liabilities and shareholders’ equity	$	41,306,838	$	39,790,870

CONDENSED STATEMENTS OF OPERATIONS

	2016			2015			2014
Interest income	$	571		$	302		$	306
Net operating expenses		(177,612	)		(195,636	)		(187,284	)
Dividends received from bank		2,340,000			2,475,000			2,865,000
Equity in undistributed earnings of subsidiary		3,084,104			2,604,622			1,720,798
Net income	$	5,247,063		$	4,884,288		$	4,398,820

CONDENSED STATEMENTS OF CASH FLOWS

	2016			2015			2014
Cash flows from operating activities:
Net income	$	5,247,063		$	4,884,288		$	4,398,820
Stock-based compensation expense		76,529			78,987			74,908
Equity in undistributed earnings of subsidiary		(3,084,104	)		(2,604,622	)		(1,720,798	)
Decrease (increase) in other assets		(55,923	)		202,043			(40,418	)
Net cash provided by operating activities		2,183,565			2,560,696			2,712,512
Cash flows from financing activities:
Dividends paid		(2,613,715	)		(2,380,062	)		(2,765,735	)
Cash in lieu of fractional shares		—			(4,778	)		—
Stock options exercised		405,749			122,946			26,050
Net cash used by financing activities		(2,207,966	)		(2,261,894	)		(2,739,685	)
Net increase (decrease) in cash		(24,401	)		298,802			(27,173	)
Cash at beginning of year		946,996			648,194			675,367
Cash at ending of year	$	922,595		$	946,996		$	648,194
Supplemental disclosure for non-cash investing and financing activity:
Change in dividends payable	$	54,706		$	59,178		$	325