Sheryl G. Sharry, Executive Vice President and Chief Financial Officer of Bank of South Carolina Corporation and The Bank of South Carolina retired from the position of Chief Financial Officer of the Company and the Bank on March 29, 2016. Mrs. Sharry has served in this position with the Company and the Bank since 2010. She has been with the Bank since its organization in 1986.

She has served as Assistant Vice President - Operations Department, Vice President - Operations & Technology and Senior Vice President- Operations & Technology. Mrs. Sharry has served on the Board of Directors of the Bank and the Company and will continue to do so after her retirement if reelected by the shareholders. In addition, Mrs. Sharry served on the Executive/Planning Committee.

Mrs. Sharry's decision to retire from the Company and the Bank is the result of her decision to take early retirement at the age. Mrs. Sharry will retire from her position as Executive Vice President of the Company and the Bank on April 12, 2016. In anticipation of the upcoming retirement of Sheryl G. Sharry, the Board of Directors of the Company and the Bank at their March 24, 2016 meetings, appointed Eugene H. Walpole, IV Chief Financial Officer and Senior Vice President of the Company and Chief Financial Officer of the Bank effective March 29, 2016.

Mr. Walpole was previously promoted on October 22, 2015 to Senior Vice President of The Bank of South Carolina. Mr. Walpole has been with the Bank since 2012 in the role of Risk Management Officer.