The Bank of Clarendon

What The Bank of Clarendon does

The Bank of Clarendon is a privately held, state-chartered community bank founded in 1932 in Manning, South Carolina, operating four branches (Manning headquarters, Santee, Summerton, Wyboo) plus a full-service office in Sumter. The bank serves individuals, families, and small-to-medium businesses across Clarendon and Sumter counties in central South Carolina. Its product portfolio spans consumer checking (Everyday, Hometown 50, Secure, Platinum, Premier Money Market), savings (Regular, Student, Christmas), CDs and IRAs, mortgages (fixed-rate, ARM, HELOC, home equity, balloon, construction, lot), consumer loans (auto, RV, personal), and full commercial lending (working capital, equipment, real estate, construction, SBA, USDA Rural Development, Farm Service Agency). The bank also distributes investment products through the BOC Financial Services division under an LPL Financial partnership.

The bank's technology stack is built on the Banno digital platform (a Jack Henry & Associates product) for online banking, mobile app, and Remote Deposit Anywhere, supported by 128-bit encryption, multi-factor authentication, and transaction-monitoring security features. Distribution is omnichannel: branch network, Visa/PLUS ATMs, BOC Online Banking, BOC Mobile App (iOS/Android), BOC OnCall telephone banking, eStatements, and bill pay. Marketing emphasizes community involvement (Relay for Life, United Way, Chamber of Commerce, Habitat for Humanity, local schools) and a financial calculator library as top-of-funnel educational content.

The revenue model is dominated by net interest income from consumer and commercial loans, supplemented by monthly account maintenance fees on checking tiers ($3.95 to $10.00), transaction-based fees on savings and business accounts, merchant services processing fees, and trailing commissions from LPL Financial investment product sales. Pricing for retail checking is tiered and subscription-style with balance-based waivers; commercial accounts charge per-item transaction fees above thresholds. The bank is FDIC-insured ($250,000 standard coverage), privately held with no institutional or PE ownership identified, and routes lending decisions through local officers rather than centralized underwriting.

Name

The Bank of Clarendon

Legal name

Bank of Clarendon

Website

https://myboc.bank

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

11–50 employees

Short description

The Bank of Clarendon is a privately held community bank founded in 1932 in Manning, South Carolina, operating four branches plus a full-service office to deliver deposit, lending, mortgage, and investment services to individuals and small businesses across Clarendon and Sumter counties.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Real Estate (Commercial Property, REITs) (FSABACAH)

Keywords

• Community banking services
• Commercial lending
• Mortgage loans
• Consumer deposit accounts
• Business checking

Headquarters

HQ city

Manning

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Interest earned on loans including consumer loans (automobile, recreational vehicle, personal), mortgage loans, commercial lending (farm/agriculture, equipment, real estate, construction), and home equity products. The primary revenue driver for a community bank.
2. Deposit Account Fees: Monthly maintenance fees on checking and savings accounts, transaction fees for exceeding limits, excessive withdrawal charges, and ATM-related fees.
3. Investment Services Commission: Through partnership with LPL Financial, the bank offers investment products including equities, fixed income, mutual funds, annuities, IRAs, and business retirement plans. Revenue generated through commissions on investment product sales.
4. Merchant Services: Credit card processing services for business customers through merchant services. Revenue from transaction processing fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

The Bank of Clarendon is a full-service community bank that provides personal and business deposit accounts (checking, savings, CDs, IRAs), consumer and mortgage loans, and commercial lending (farm/agriculture, equipment, real estate, construction, SBA and USDA-backed). It distributes these products through four branch offices in Clarendon and Sumter counties in South Carolina as well as through digital channels including online banking, a mobile app with Remote Deposit Anywhere, and 24-hour telephone banking. Investment and retirement products are offered through a partnership with LPL Financial under the BOC Financial Services division.

Product overview

The Bank of Clarendon is a full-service community bank offering a comprehensive suite of banking products and services through multiple channels. The core offering consists of personal banking (checking, savings, CDs/IRAs, mortgages, consumer loans), commercial banking (business checking, savings, commercial lending), and digital banking platforms (BOC Online Banking, BOC Mobile App, BOC OnCall Banking, Remote Deposit Anywhere, eStatements, Bill Pay). Additional services include BOC Financial Services (investment products through LPL Financial partnership) and extensive financial calculators. The bank operates branches in Manning, Santee, Summerton, and Sumter, South Carolina, serving Clarendon and Sumter counties for nearly 90 years since its founding in 1932.

Differentiator

Problem solved

Functional benefit

Brands

• BOC Financial Services: A division of Bank of Clarendon that provides financial advisory and investment services through a partnership with LPL Financial. Offers equities, fixed income securities, mutual funds, annuities, IRAs, and business retirement plans.

Products and services

• Everyday Checking Basic personal checking account with 24-hour access via BOC OnCall, Online Banking, Mobile App and ATMs; $3.95/month service charge waived for customers 25 or younger, with direct deposit, or $1,000 minimum daily balance.
• Hometown 50 Checking Checking account for customers 50 years and older; $4.95/month service charge waived with $2,500 minimum daily balance of combined deposits; includes one free check order per year and 25% Safe Deposit Box discount.
• Secure Checking Premium checking account with identity theft expense reimbursement up to $10,000, identity theft resolution services, credit file monitoring, and cellular telephone protection up to $300; $6.95/month basic or $14.95/month for the comprehensive package.
• Platinum Checking Premium checking with $10/month service charge waived at $5,000 minimum daily balance; includes free checks, no-cost cashier's checks, tiered interest on balances of $1,000+, and all Secure Checking benefits.
• Premier Money Market Checking Interest-earning checking account with tiered rates on balances of $5,000 or more; unlimited withdrawals allowed in person, at ATMs, or by mail.
• Regular Savings Personal savings account earning competitive interest; $100 minimum to open; $100 minimum daily balance required to avoid $3.00 quarterly maintenance fee.
• Student Savings Savings account designed for customers 18 years old and younger with no minimum balance required to open and no monthly maintenance fees.
• Christmas Savings Seasonal savings account for holiday spending with no minimum balance to open; requires existing BOC checking or savings account.
• Certificates of Deposit (CDs) Fixed-term savings investments with maturities from 30 days to 3 years; regular CDs and Jumbo CDs ($100,000+) available.
• Individual Retirement Accounts (IRAs) Retirement savings accounts including Traditional IRAs, ROTH IRAs and Education IRAs with fixed and variable rates; maturities of 182 days through 36 months available.
• Conventional Fixed Rate Mortgages Long-term financing for primary, second or investment homes with fixed interest rates.
• Standard Adjustable Rate Mortgages Real estate loans with variable interest rates that adjust according to market conditions.
• Home Equity Loans Second mortgages using existing home equity as collateral, suitable for home improvements.
• Home Equity Lines of Credit (HELOC) Revolving credit lines secured by home equity that provide flexible access to funds.
• Balloon Mortgages Short-term real estate loans with periodic payments followed by a large final payment.
• Construction Loans Financing for new home construction, disbursed in phases as construction progresses.
• Lot Loans Loans for purchasing land or vacant lots intended for future home construction.
• Automobile Loans Financing for vehicle purchases with local lending decisions.
• Recreational Vehicle Loans Loans for purchasing recreational vehicles including RVs, boats and other recreational equipment.
• Personal and Household Expenditure Loans General-purpose consumer loans for personal and household expenses.
• Small Business Checking Business checking with $100 minimum to open, $7.00 monthly maintenance fee (waived with 200 free transactions), free online banking and ATM check card.
• Commercial Checking Business checking with $100 minimum to open, $10.00 monthly maintenance fee, earnings credit based on account balance and per-item deposit charges.
• Business Advantage Business checking with CD-Rom statement delivery; monthly fee of $25, bi-monthly $50, additional CD-Rom $5, yearly $75.
• Business Savings Account Commercial savings account with $100 minimum balance to open, paying the regular savings rate.
• Farm and Agriculture Loans Specialized lending for agricultural operations and farms in Clarendon and Sumter counties.
• Working Capital / Annual Lines of Credit Revolving credit facilities for short-term business operating expenses and cash flow management.
• Equipment Loans Financing for business equipment purchases, machinery and vehicles.
• Real Estate Loans Commercial real estate financing for business properties and facilities.
• Business Improvement Loans Loans for upgrading, renovating or improving business facilities and operations.
• Commercial Construction Loans Construction financing for commercial buildings and developments.
• SBA Small Business Loans Small Business Administration loans offered in conjunction with SBA programs for qualified businesses.
• USDA Rural Development Loans U.S. Department of Agriculture Rural Development loans for rural business development.
• Farm Service Agency Loans FSA loans supporting agricultural operations and family farms, originated with Farm Service Agency program backing.
• Direct Deposit Automatic deposit service for business payroll, providing fast, safe and free fund transfers to employee accounts.
• Business CheckCard Visa-branded debit card for business checking, accepted worldwide wherever Visa is accepted.
• Business Credit Card Visa Business Credit Card offering a revolving line of credit for business purchases, accepted worldwide.
• Merchant Services Credit Cards Payment processing services enabling businesses to accept credit and debit card transactions.
• Safe Deposit Boxes Secure storage for valuables and important documents, available at bank branches.
• Wire Transfers Domestic and international wire transfer services for business transactions.
• Foreign Currency Exchange Currency exchange services for international business needs.
• BOC Online Banking Web-based banking platform providing 24/7 access to account balances, transaction history, internal transfers and bill pay; self-enrollment available.
• BOC OnCall Banking Telephone banking service available 24/7 via voice response system at (803) 433-0123 or 1-(888) 854-0123 for account information, transfers and product details.
• BOC Mobile App Mobile banking application for Apple iOS and Android devices enabling account access, transfers, bill pay, Remote Deposit Anywhere and alerts with no monthly service fee.
• Remote Deposit Anywhere Mobile check deposit service allowing users to deposit checks by photographing them with the BOC Mobile App; available 24/7 with encrypted, password-protected transactions.
• eStatements Electronic statement delivery providing 18 months of online statement and check image history, reducing paper clutter and protecting against mailbox theft.
• Bill Pay Free internet-based bill payment system enabling payments to any U.S. payee; supports electronic payments (3-day advance) and check payments (10-day advance), with recurring payment options.
• BOC Financial Services Investment and financial advisory division of Bank of Clarendon, partnered with LPL Financial, offering equities, fixed income, mutual funds, annuities, IRAs, IRA rollovers, 529 plans, business retirement plans, investment analysis, portfolio review and research.

Quantifiable outcome

• FDIC insured deposits - no depositor has lost insured funds due to bank failure

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• LPL FinancialcoreStrategic or Co-development PartnerPartnership through which BOC Financial Services provides investment products and services. Through this partnership, customers access equities, fixed income, mutual funds, fixed and variable annuities, IRAs, IRA Rollovers, business retirement plans, college investment programs/529 Plans, investment analysis, portfolio review, and research. Badge Baker is the local investment representative.
• U.S. Small Business Administration (SBA)coreGTM or Marketing PartnerBOC offers Small Business Loans in conjunction with SBA programs for qualified small business borrowers.
• U.S. Department of Agriculture and Rural DevelopmentminorGTM or Marketing PartnerBOC offers small business loans in conjunction with USDA Rural Development programs.
• Farm Service AgencyminorGTM or Marketing PartnerBOC offers farm and agriculture loans in conjunction with Farm Service Agency programs.
• Business Development Corporation of South CarolinaminorGTM or Marketing PartnerBOC works with this state agency for small business lending options.
• Carolina Capital Investment CorporationminorGTM or Marketing PartnerBOC works with this state agency for small business lending options.
• Banno (Jack Henry & Associates)coreTechnology or IntegrationWebsite platform and digital banking services provided by Banno, a Jack Henry & Associates company. The website is 'Created by Banno'.

Scale indicators3 records

Recent moves14 records

Expansion highlights4 records

Direct peers

• Anderson Brothers Bank: South Carolina community bank with a similar small-town, relationship-based model serving a single regional market. Comparable in scale, branch footprint, and product breadth, making it the closest direct peer for Bank of Clarendon.
• First Reliance Bank: Florence, South Carolina-based community bank with comparable size and a similar mix of consumer, mortgage, and small business banking. Operates in the same Pee Dee/Midlands South Carolina market corridor as Bank of Clarendon.
• Conway National Bank: Conway, SC-based community bank providing full personal and business banking to a similar rural South Carolina market. Closely comparable in product set, branch-based distribution, and local decision-making culture.
• Carolina Trust Federal Credit Union: Myrtle Beach-area credit union serving the South Carolina coastal region with consumer and small business banking. Comparable as a small, locally-focused deposit-taking institution competing for similar household and SMB relationships.
• NBSC (National Bank of South Carolina): Sumter, SC-based community bank directly competing with Bank of Clarendon in the Sumter County market. Closely comparable in scale, product mix, and community bank positioning.

Broad incumbents

• United Community Bank: Large regional bank headquartered in Blairsville, GA with significant South Carolina presence after acquiring several SC community banks. Competes with Bank of Clarendon for SMB and consumer relationships but operates at much larger scale with broader product set.
• First Citizens Bank: Major North Carolina-headquartered bank with deep South Carolina presence following the CIT Group acquisition. Competes across consumer, mortgage, and commercial banking in Bank of Clarendon's market but at substantially larger scale.
• SouthState Bank: Large South Carolina-headquartered regional bank (now part of First Citizens) that competes across consumer and commercial banking in the Midlands and Lowcountry. Operates at significantly larger scale than Bank of Clarendon but serves overlapping customers in adjacent SC markets.
• Synovus Financial: Regional bank with South Carolina commercial banking presence, competing for commercial lending and treasury management relationships in Bank of Clarendon's market. Larger scale, broader product set, and more sophisticated treasury capabilities.

Emerging players

• Live Oak Bank: Wilmington, NC-headquartered digital-forward bank with strong SBA lending franchise. Competes with Bank of Clarendon for SBA and small business lending relationships, particularly through government-guaranteed loan programs, though operating with a fundamentally different digital-first model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights6 records

Customer concentration

• Facebookfacebook.com/BankofClarendon
• LinkedInlinkedin.com/company/the-bank-of-clarendon

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Bank of Clarendon