CHARLESTON, S.C., April 11, 2012 /PRNewswire/ -- At the annual meeting of Bank of South Carolina Corporation, (NASDAQ: BKSC) on April 10, 2012, Hugh C. Lane, Jr. announced his retirement as President and Chief Executive Officer of Bank of South Carolina Corporation (the "Company") and of the Company's wholly owned subsidiary, The Bank of South Carolina (the "Bank") effective April 11, 2012. At the request of the Board of Directors, Mr. Lane will continue to serve as the Chairman of the Board of Directors of both the Company and the Bank. Mr. Lane will also continue to perform commercial lending and business development activities for the Bank. The Board of Directors of the Company and the Board of Directors of the Bank elected Fleetwood S. Hassell as President and Chief Executive Officer of both the Company and the Bank and Douglas Hutson Sass as Executive Vice President and Senior Lending Officer of both the Company and the Bank effective April 11, 2012. Mr. Hassell has served as an Executive Vice President of both the Company and the Bank and as the Senior Lending Officer since 2005. He was elected to the Board of Directors of the Company and the Bank in 2006. He has been with the Bank since its organization in 1986 and has served as Assistant Vice President, Vice President, and Senior Vice President for commercial lending and business development. Mr. Sass has served as a Senior Vice President for commercial lending and business development since 2004. He was hired by the Bank as an Assistance Vice President for commercial lending and business development in 1994 and was promoted to Vice President in 1995. He has served as Community Reinvestment Officer and Appraisal Officer for the Bank since 1994 and served as the Security Officer from 1994 – 2005.
In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both.