March 27, 2006 Florence, SC - First Reliance Bank is facing a problem many businesses wish they had. It's running out of space.

The Florence-based bank founded seven years ago has grown so fast that it doesn't have enough room for the staff it's had to add. To solve the problem, the bank's going to build a 75,000-square-foot corporate headquarters campus, First Reliance President Rick Saunders said.

"Our five-year plan takes us to $1 billion in assets, which is double what we are now," Saunders said. "We've outgrown our footprint, so we acquired six acres across the street from our Palmetto Street offices."

Saunders said ground will likely be broken on the five- to seven-story headquarters complex in about two years. The $15 million to $20 million building will be located on property between David H. McLeod Boulevard and West Palmetto Street. Plans include some small retail spaces, at least an acre of public green space and a child-care center.

"We'd like to have a child development center for our employees, because we know that's a big concern for them," Saunders said.

Because it has grown so rapidly, First Reliance has an active training program for new employees and annual training for existing employees. But the bank has run out of space for training.

"We've been sacrificing space for our expansion," said Lee Daugherty, vice president of community banking at First Reliance. "This building will allow us to have the space we need for the continual training we do, and we'll even have executive housing for short-term stays."

But the corporate center will be more than just a bank headquarters, Saunders said. The addition of public green space is important to First Reliance's branding as a part of the community.

"We're committing a lot of green space, almost a couple of acres," Saunders said. "We envision it as a place where you can have public events like A Taste of Florence, or where you can bring your lunch and listen to a jazz band during the summer."

Contemplating a major expansion like this is a bit of a surprise for the bank. While the founders of First Reliance knew they had a good business model, they didn't expect the kind of growth they've seen since opening their first branch in a mobile office space. But the bank has been named one of the top 25 Fastest Growing Companies in South Carolina for three years in a row.

"Seven years ago we weren't thinking about campus planning, but the growth has forced us to do that," Saunders said. "We've had to renovate our 12,000-square-foot main building on West Palmetto Street three times to find more room."

With new branches in Char- leston, Mount Pleasant and Lexington, the bank is branching out even more. Negotiations are under way for new banks in Myrtle Beach and in the Upstate.