Bank of South Carolina Corporation announced unaudited earnings results for the fourth quarter and full year ended December 31, 2017. For the year, the company reported earnings of $4,901,825 or $0.99 and $0.97 basic and diluted per share, respectively, a decrease of 6.58% from earnings for the year ended December 31, 2016 of $5,247,063 or $1.06 and $1.04 basic and diluted per share, respectively. Returns on average assets and average equity were 1.15% and 11.37%, respectively, compared with 2016 returns on average assets and average equity of 1.28% and 12.65%, respectively. For the quarter, the company's earnings decreased $464,180 or 36.36% to $848,699 compared to $1,312,880 for the three months ended December 31, 2016. The decrease in quarterly and annual earnings is directly attributable to the recently enacted Tax Cut and Jobs Act, which was signed by President Trump on December 22, 2017.