COLUMBIA, S.C. (AP) -- A review of some of South Carolina's banking contracts is saving the state $1 million.

State Treasurer Curtis Loftis said Wednesday that the savings comes thanks to an examination of the business that his office does with banks.

Loftis has been reviewing the state's banking contracts, asking that do business with South Carolina for information like account fees. The treasurer says he is also looking streamlining the state's financial services.

Loftis says his inquiry marks the first time South Carolina's treasurer has examined that office's banking contracts in a decade. He says he wants other state agencies to do the same.

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