Florence, SC (November 23, 2009) - "Megabank" is not a popular term with Rick Saunders. As president, CEO, and co-founder of First Reliance Bank in Florence, Saunders and his FRB colleagues have spent the past 10 years building and refining their vision of what a community bank should be. Moreover, it is very different from the "commodity" approach - simply selling products and services - that Saunders attributes to the large, national megabanks that have gobbled up many hometown banks.

"We always believed another bank could grow in Florence - and South Carolina - by delivering exceptional service, truly caring about customers, and helping them with their financial needs," says Saunders.

Back in 1999, not everyone shared Saunders' enthusiasm. However, he, his brother Paul, and friend Dale Porter ignored the naysayers. The three had previously enjoyed working in a local, community bank. That institution, however, eventually merged with a larger bank; the trio soon realized the big bank culture did not match their values and beliefs for delivering banking services. So they decided to form a new bank in Florence, staking its success on the concept of banking convenience and outstanding service, coupled with their hard-earned, excellent reputations in the community. Within just sixty days, the bank was capitalized with $7.2 million.

The community responded, and the venture proved successful, turning a profit in just five months. Now, a decade later, FRB has captured the top spot in market share among Florence banks - including the megabanks.

All three founders, along with the bank's carefully chosen associates, share a simple, straightforward idea: create value and earn customer loyalty. According to Saunders, that means getting to know each customer personally, then providing value-added services and programs focused on convenience and delivered with exceptional customer service. That idea even fueled creation of the bank's original and current marketing tag line: There's More To Banking Than Money.™ It is a simple concept, Saunders notes, but the FRB team was surprised at how many competing banks weren't embracing it.

FRB boasts impressive, tangible evidence of its commitment to convenience and service, according to Saunders. Banking hours from 8:00 a.m. to 8:00 p.m. daily; being open on six out of 11 traditional banking holidays; worldwide, no-fee ATM machines; free use of coin machines; and a 24-hour, on-call banker are a few of the many ways FRB lives out its mission, he notes.

"Right from the very beginning, and through today, our board members and employees have been passionate about making a positive difference in the lives of our customers, and earning their loyalty," says Saunders. While enabling the bank to rack up top market share in Florence - 22.07 percent - that passion also drove FRB's current 17 ranking among South Carolina's 107 banks, with total assets just under $700 million. Saunders adds that FRB branches in Columbia, Lexington and Charleston are experiencing similar market share growth.

Several other indicators also bear out the fact the bank is walking the talk. "Our strong culture has enabled First Reliance to survive and succeed during recent hard times in the banking industry," Saunders says. He also cited the South Carolina Chamber of Commerce and the Society for Human Resource Management recognition of First Reliance as one of the best places to work in South Carolina, four consecutive years. "That is a result of our recruiting great, talented people who share our company's purpose, vision, and values," Saunders says. Bank employees also donate over 800 volunteer hours of service annually to their communities. Additionally, FRB donates 1.5 percent of its net income to charitable causes every year.

Another telling indicator is a recent customer survey confirming a 98 percent satisfaction rate among First Reliance customers. Additionally, 93 percent of those polled said they would refer family members and friends to FRB. "That further demonstrates the strength of the culture we have built here," Saunders adds.

It is clear that Rick Saunders and his colleagues believe 'there is more to banking than money.' Not only is it the bank's brand promise, Saunders says, but it also is the hallmark of FRB's success. He likes to think it is a win-win situation for all involved. "At the end of the day, if we make a positive difference in the lives of every stakeholder in our organization - and our shareholders win because of that - then that defines success to me," he says.

ABOUT FIRST RELIANCE BANK
First Reliance Bank, founded in 1999, has assets of just under $700 million, and employs over 145 highly talented associates. The bank serves Columbia, Charleston, and Florence markets in South Carolina. The bank has been recognized for its success including being the only company ever to be named to The Top 25 Fastest Growing Companies™ in South Carolina four times including 2002, 2004, 2005, and 2006 (SC Chamber/Elliott Davis). In June 2007, the bank was added to the Palmetto 25, a list of S.C.'s largest publicly held companies. In 2006, 2007, 2008 and 2009 the bank was also recognized as One of the Best Places to Work in South Carolina by the SC BIZ. First Reliance Bank offers a unique Hometown Heroes package of benefits to serve those who are serving our communities, Check 'N Save, a community outreach program, a Customer Service Guaranty, Business Program, FREE Coin Machines, a Worldwide NO FEE ATM Network, and a 5 Way Mortgage Service Guaranty Program. It also offers 8-8 Extended Hours in all of their Florence, Charleston, West Columbia and Lexington locations and is open on most traditional bank holidays. Its Easy to Do Business With™ standard has earned the young bank a customer satisfaction rating of 98% (Lamothe & Associates, Inc., Research Firm). First Reliance Bank is traded as FSRL.OB. Information about the Company is available on the company's website at www.firstreliance.com.