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For Immediate Release

Greater Pee Dee Business Journal

July, 2005 FLORENCE, S.C. It's not quite six years old, but already First Reliance Bank is becoming a formidable player in the banking field. Thanks to the vision of its leadership and the teamwork of its employees, this Florence-based bank is quickly climbing the ladder to long-term success.

Founded in 1999, First Reliance Bank is a locally-owned community bank. In addition to its two branches and a technology center in Florence, the bank is expanding into other markets. It currently operates an office in downtown Charleston and recently opened a temporary office in Mr. Pleasant while a permanent office is being constructed. The facility is scheduled to be completed by the first of the year.

"Our business model really centers around a common vision focused on growing our bank across South Carolina." said Rick Saunders, its president and CEO. "We would like to be the largest bank in South Carolina. Our strategy is to pick high-performing, high-growth markets and then find the best bankers in those locations and build businesses around those bankers. Combined with our retail strategy, finding the best bankers has been the major contribution to our success."

With assets totaling $340 million, First Reliance is among the top twentieth percentile of South Carolina banks in terms of size. Currently, there are roughly 100 banks in the state.

As the leaders of First Reliance look to expanding, they make a list of high-growth markets, become familiar with those markets, and identify key business leaders working in those markets. Once they find the top bankers, they utilize comprehensive recruitment strategies to find the best local banker to run the new branch.

"Finding the best bankers in the best locations is easier said than done," Saunders said. "It's fairly easy to find the top bankers in a market. The challenging part is to make sure we're a good fit. The highest performing people don't necessarily fit into our culture. Our challenge is figuring out how to communicate our culture to make a good match."

Saunders said he is constantly searching through potential markets for available bankers, and when something like an economic or competitive change takes place that piques his interest, he begins focusing on those areas where there are good opportunities. Because it's a high-growth market, the Charleston area was a logical choice to open a branch office, he said. The next key was finding Karl H. Zerbst, Jr. to be the market president.

"The key to success for First Reliance Bank has been its unwavering focus on providing excellent customer service and offering the best products and services to our customers," Zerbst said.

Saunders hopes to make two more market expansions in the next five years. The bank is targeting certain markets, he said, but finding the right banker is what will drive the expansions. A Florence native, Saunders said Florence had the demographic and economic profile necessary for him to establish corporate headquarters there. Since starting First Reliance, his vigorous approach to customer service and his astute vision as to banking's future has assured First Reliance's success. As the youngest in the market of about 18 banks, First Reliance already has the third largest deposit share in Florence.

With 20 percent of banking customers making the move to a new bank every year, First Reliance places great emphasis on retail strategies that show customers the bank and its employees are willing to go the extra mile. First Reliance is open from 8:00 a.m. to 8:00 p.m. five days a week, and if a customer has a question outside banking hours, he or she can dial the number for an on-call banker 24/7. A customer care center is also available during working hours for customers who would prefer to access a customer care specialist over the phone rather than drive to the bank.

In addition, the bank offers free checking and a refund for customers who use a competitor's ATM machine. It also promises to meet certain customer expectations in its mortgage operation. With several other customer service perks, First Reliance is confident it can not only compete, but beat out the competition in areas where competition is fierce.

"A lot of people ask us why we go to markets where there is so much competition," Saunders said. "We answer that lots of competition is good for the economy and good for the consumer, but it's never good for businesses that don't run themselves well. With a good business model, good employees and excellent services, we think we have something unique in the industry."

Above all, First Reliance emphasizes personal relationships with its customers.

For more Information:
Thomas C. Rouse Corporate Product / Marketing Manager First Reliance Bank 2170 W. Palmetto St. Florence, SC 29501 (843) 674-3281 Direct (843) 674-3ASK - ACCESSLive Customer Care Center (843) 662-0787 Fax