South Carolina Community Bank
South Carolina Community Bank was founded in 1999 and is a CDFI bank headquartered in Columbia, South Carolina. The Bank seeks to be the outstanding financial institution in its community by providing a select range of high priority personalized products and services to traditionally underserved communities, small to medium sized businesses, professionals, and local organizations.
Dominik Mjartan, the new president and CEO of South Carolina Community Bank, hopes technological innovations can jolt the struggling bank back to profitability. By digitizing loan files via Sageworks and securing fintech partners to offer more technological solutions for customers, Mjartan hopes to transform the bank for modern needs.
South Carolina Community Bank, plagued by problematic commercial real estate loans and other struggles since the economic crisis of 2008, has witnessed progress in recent months. New president and CEO Dominik Mjartan, in his fourth month at the helm of South Carolina Community Bank, said that it has raised more than $11 million in new deposits and closed more than $3 million in new loans to small businesses, nonprofits, and individuals. "We've cleaned up," said Mjartan. "I believe, and this bank will prove it, that margin and mission are mutually reinforcing." Mjartan elaborated on avoiding future turmoil through diversification and finding niche opportunities for investment.