DIVIDENDS |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2022 | |||
Dividends | |||
DIVIDENDS |
The Bank’s ability to pay dividends to the Company is restricted by the laws and regulations of the State of South Carolina. Generally, these restrictions allow the Bank to pay dividends from current earnings without the prior written consent of the South Carolina Commissioner of Banking, if it received a satisfactory rating at its most recent examination. Cash dividends when declared, are paid by the Bank to the Company for distribution to shareholders of the Company. The Bank paid dividends of $3.8 million, $4.3 million and $3.6 million, to the Company during the years ended December 31, 2022, 2021 and 2020, respectively. |