2018 Year End Review and Name Change Update (March 22, 2019)
We will be officially changing the name of the bank from South Carolina Community Bank to Optus Bank on April 1, 2019. On May 13, 2019, new products, services and upgraded mobile services will launch. Our new brand and innovative products and services will enhance our historical focus and mission of creating wealth-building opportunities for everyone, regardless of background, privilege, or zip code.
On behalf of the hard working and committed team, board members, shareholders and supporters, I’m pleased to share the following 2018 highlights:
- 2018 was the first year of profitability and growth in ten years. Total assets increased by 25% to $65 million; non-performing assets declined by 49% to $1.6 million.
- Made 175 new loans totaling $17 million helping finance small businesses, homes and affordable housing. Opened 270 new deposit accounts totaling $22.13 million to provide wealth building and transaction account services to our customers and supporters.
- Financial empowerment and technical assistance provided to nearly 100 people, entrepreneurs (primarily minorities and women), including another minority owned bank.
- Removed from troubled bank list
- Created three new full time positions
- Received $233,000 Bank Enterprise Award from the U.S. Treasury’s CDFI Fund
- Launched Women in Banking Training Program with Columbia College and partnerships with other nonprofits, including the City of Columbia Office of Business Opportunities.
- Opened new facility, developed new brand, technology, products all scheduled to launch on May 13, 2019.
I am most grateful for your continued support and patronage of SCCB/Optus Bank and welcome the opportunity to hear from you. Please do not hesitate to contact me at email@example.com or 803-231-2233. For more updates on the launch of our new brand and products, visit www.optus.bank.