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At its annual meeting of shareholders April 8, 2025, Bank of South Carolina Corporation (OTCQX: BKSC) announced that Douglas H. Sass plans to retire as executive vice president and senior lender of the company and its subsidiary, The Bank of South Carolina, on Dec. 31, 2025. 

Sass will continue to serve on the board of directors of both the company and the bank after his retirement and will also continue to perform commercial lending and business development activities for the bank. 

The board of directors of the company and the bank have appointed Robert M. Hollings, III to succeed Sass as senior lender of the company and the bank effective Jan. 1, 2026. 

In addition, the board of directors of the company and the bank appointed Jennifer A. Arato as chief credit officer of the company and the bank effective Jan. 1, 2026.

A Charleston native and graduate of The Citadel, Sass began his career with the bank in 1994 as a commercial loan officer, serving also as CRA and security officer. 

Additionally, he played a key role in developing and overseeing the bank's Real Estate Appraisal Review program.

In the following years, he was promoted to assistant vice president, vice president, senior vice president and, in 2012, executive vice president and senior lender, overseeing all credit and lending functions for the bank.

His leadership and expertise led to his election to the board of directors of both the company and the bank in 2013.

Hollings has been with the bank since 2010, starting his career as a personal banker before taking on a variety of roles in credit, lending, and business development.

Most recently, he served as senior vice president since 2022.

A Charleston native, Hollings is a graduate of Hampden-Sydney College, the South Carolina Bankers School, and the Graduate School of Banking at Louisiana State University.

He currently serves as treasurer of the board of trustees for both the Lowcountry Land Trust and The Charleston Museum.

Arato has been with the bank since 2002, having begun her career as a personal banker prior to advancing to assistant vice president, vice president, and senior vice president. 

She has served as the Credit Department manager since 2006.

A graduate of the College of Charleston and The Citadel, where she earned an MBA, Arato contributes to the community through her service on the Loan Committee of the South Carolina Community Loan Fund and the Revolving Loan Fund Committee of the Berkeley-Charleston-Dorchester Council of Governments.

In a statement, Eugene H. Walpole, IV, president and chief executive officer, said: "This announcement marks the successful conclusion of a carefully planned and thorough process that ensures the Bank will continue to benefit from strong, experienced leadership.”

Walpole added, “Over the past 13 years, I have had the privilege of working closely with Doug, and I sincerely appreciate the countless contributions he has made to our employees, customers, and shareholders throughout his remarkable 31-year tenure with the Bank."

Walpole continued, "I'm equally excited to welcome Robbie and Jen to our management team on January 1, 2026. Their dedication and commitment to our continued growth and success have rightfully earned them this opportunity, and I have full confidence in their ability to drive the Bank toward even greater achievements in the years to come."

The bank is a South Carolina state-chartered financial institution with offices in Charleston, North Charleston, Summerville, Mt. Pleasant, James Island, and the West Ashley community and has been in continuous operation since 1987.  

 

Beginning May 7, 2025, individuals planning to use their South Carolina-issued driver’s license to fly out of Columbia Metropolitan Airport (CAE) will need to have a gold star indicating that their license is REAL ID compliant to clear the security checkpoint and board a domestic/commercial flight.

Travelers who do not present a REAL ID-compliant license or acceptable alternative beginning May 7, 2025, will not be permitted through the security checkpoint.

 Acceptable alternative forms of identification include:

* Valid and current US Passport

* U.S. Passport Card

* Military ID

*DHS Trusted Traveler Card (Global Entry, NEXUS, SENTRI, FAST)

* Permanent Resident Card.

For a complete list of acceptable alternative forms of identification, go to www.tsa.gov/travel/security-screening/identification.

The Transportation Security Administration (TSA) doesn’t require children under the age of 18 to provide identification when traveling by plane within in the United States.

To obtain a REAL ID, individuals living in South Carolina should go to a local South Carolina Department of Motor Vehicles (SCDMV) site.

According to the SCDMV website, individuals will need the following to receive a REAL ID:

* Proof of identify (Birth certificate or unexpired US Passport)

* Social Security Number

* Two proofs of current, physical South Carolina address

* Proof of all legal name changes.

 

Driven Brands Holdings Inc. (NASDAQ: DRVN) announced April 10, 2025, the completion of the sale of its U.S. car wash business to Express Wash Operations, LLC dba Whistle Express Car Wash.

“The completion of this transaction marks an important milestone for Driven Brands, enabling us to focus on our industry-leading Take 5 Oil Change business underpinned by our stable, cash-generating franchise businesses,” said Jonathan Fitzpatrick, president and chief executive officer. “We are confident this disposition will better position the company to execute on our strategic initiatives.”

Under the terms of the agreement, Whistle paid Driven Brands approximately $255 million in cash and delivered to Driven Brands a negotiable interest-bearing seller note in the principal amount of $130 million.

Final proceeds are subject to customary post-closing adjustments and payment of transaction-related fees and expenses.

Cash proceeds from the transaction will be used to pay down debt as the company works to achieve 3x or less net leverage by the end of 2026.

In fiscal year 2025, the company plans to report the results of the U.S. car wash business as discontinued operations.

William Blair & Company, L.L.C. served as financial advisor to Driven Brands, and Latham & Watkins LLP served as legal advisor.

Driven Brands, headquartered in Charlotte, North Carolina, is the largest automotive services company in North America, providing a range of consumer and commercial automotive services, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash.

Driven Brands is the parent company of some of North America’s leading automotive service businesses including Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C, Auto Glass Now, and CARSTAR.

At the end of Fiscal Year 2024, Driven Brands had 5,200 locations across 14 countries and serviced approximately 70 million vehicles.

In 2024, Driven Brands’ network generated approximately $2.3 billion in annual revenue from approximately $6.5 billion in system-wide sales.

 

The Internal Revenue Service reminds self-employed individuals, retirees, investors, businesses and corporations that April 15 is the deadline for first quarter estimated tax payments for tax year 2025.

Because federal income taxes are pay-as-you-go, the law requires individuals who don’t have taxes withheld to pay taxes as their income is received or earned throughout the year.

Most people meet their tax obligations by having their taxes deducted from their paychecks, pension payments, Social Security benefits or certain other government payments including unemployment compensation.

Taxpayers who are self-employed or in the gig economy are generally required to make estimated tax payments.

Likewise, retirees, investors and others frequently need to make these payments because a significant portion of their income is not subject to withholding.

When estimating quarterly tax payments, taxpayers should include all forms of earned income, including part-time work, side jobs or the sale of goods or services, commonly reported on Form 1099-K.

Income such as interest, dividends, capital gains, alimony and rental income is normally not subject to withholding.

By making quarterly estimated tax payments, taxpayers can avoid penalties and uphold their tax responsibilities, IRS officials note.

Certain groups of taxpayers, including farmers and fishers, recent retirees, individuals with disabilities, those receiving irregular income and victims of disasters and terrorist attacks are eligible for exceptions to penalties.

Taxpayers can rely on Form 1040-ES, Estimated Tax for Individuals, for comprehensive instructions on computing their estimated taxes.

IRS Online Account streamlines the payment process for taxpayers making estimated payments. There, they can make and view their payment history, monitor pending payments and access pertinent tax information.

Taxpayers have several options to make an estimated tax payments, by mail or pay online with IRS Direct Pay, debit card, credit card, digital wallet or the Treasury Department's Electronic Federal Tax Payment System.

To pay electronically and for more information on other payment options, go to Make a payment. If paying by check, be sure to make the check payable to the "United States Treasury".

Publication 505, Tax Withholding and Estimated Tax, offers detailed information for individuals navigating dividend or capital gains income, alternative minimum tax or self-employment tax, or who have other special situations.

The IRS recommends taxpayers use the Tax Withholding Estimator tool to accurately determine the appropriate amount of tax to withhold from their paychecks.

Regularly monitoring withheld taxes helps mitigate the risk of underpayment, reducing the likelihood of unexpected tax bills or penalties during tax season.

It also allows individuals to adjust withholding upfront, leading to larger paychecks during the year and potentially smaller refunds at tax time.

 

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