BANK OF SOUTH CAROLINA CORPORATION - PARENT COMPANY (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of condensed financial statements of parent company

The Company’s condensed statements of financial condition as of December 31, 2017 and 2016, and the related condensed statements of income and cash flows for the years ended December 31, 2017, 2016 and 2015, are as follows:

Condensed Statements of Financial Condition
	2017		2016
Assets
Cash	$	947,216	$	922,595
Investment in wholly-owned bank subsidiary		42,437,503		40,308,166
Other assets		127,274		76,077
Total assets	$	43,511,993	$	41,306,838
Liabilities and shareholders’equity
Other liabilities		747,358		693,864
Shareholders’ equity		42,764,635		40,612,974
Total liabilities and shareholders’ equity	$	43,511,993	$	41,306,838

Condensed Statements of Income
	2017			2016			2015
Interest income	$	484		$	571		$	302
Net operating expenses		(189,872	)		(177,612	)		(195,636	)
Dividends received from bank		2,685,000			2,340,000			2,475,000
Equity in undistributed earnings of subsidiary		2,406,213			3,084,104			2,604,622
Net income	$	4,901,825		$	5,247,063		$	4,884,288

Condensed Statements of Cash Flows
	2017			2016			2015
Cash flows from operating activities:
Net income	$	4,901,825		$	5,247,063		$	4,884,288
Stock-based compensation expense		71,701			76,529			78,987
Equity in undistributed earnings of subsidiary		(2,406,213	)		(3,084,104	)		(2,604,622	)
Decrease (increase) in other assets		(51,197	)		(55,923	)		202,043
Increase in other liabilities		151			—			—
Net cash provided by operating activities		2,516,267			2,183,565			2,560,696
Cash flows from financing activities:
Dividends paid		(2,832,489	)		(2,613,715	)		(2,380,062	)
Cash in lieu of fractional shares		—			—			(4,778	)
Stock options exercised		340,843			405,749			122,946
Net cash used by financing activities		(2,491,646	)		(2,207,966	)		(2,261,894	)
Net increase (decrease) in cash		24,621			(24,401	)		298,802
Cash at the beginning of the year		922,595			946,996			648,194
Cash at the end of the year	$	947,216		$	922,595		$	946,996
Supplemental disclosure for non-cash investing and financing activity
Change in dividends payable	$	53,340		$	54,706		$	59,178