First Reliance Bank is committed to living up to its name. It is determined to be first in quality, service and innovation, while earning a reputation for dependability and trustworthiness.

“We think we’re doing things different and better, and a lot of people believe we’re the best,” commented F.R. “Rick” Saunders Jr., President and CEO.

That different and better include extended banking hours every workday from 8 a.m. until 8 p.m.; Totally Free Checking for individuals and businesses; no charge for ATM services with refunds from other bank ATM fees; free courier service; free coin machines available to everyone, including non-customers; 24-hour on-call banker; no-charge debit; free bill pay and a clip-a-coupon program in which the bank will match or beat any rate.

Mortgage customers are offered a $500 Service Promise with guarantees for the following or $500 should they not deliver:

Apparently the bank is delivering this service promise because last month First Reliance closed more loans than any other mortgage institution. Online applications for mortgage loans are available at www.firstreliance.com.

Saunders said the bank plans to deliver a 5-Way Promise to every banking customer in 2006.

“We are committed to being easy to do business with,” he stated, adding that First Reliance desires everybody’s business.

Last year the bank added 1,900 new accounts.

From its headquarters in Florence, First Reliance offers all the amenities of a local bank, while providing all the services of a larger bank. In addition to the two Florence locations and its operations center, the bank has offices in Lexington, Mt. Pleasant and Charleston.

With 90 of its 130 employees working in Florence, as well as its investment in prime real estate and property, the bucks stop here.

“Every dollar of profit stays in Florence,” Saunders noted.

Expansion plans for the future include two additional locations in Charleston which already have been acquired, and two more locations in the Columbia area. Also, negotiations are underway to open in a new market area.

While First Reliance believes in growing its organization, it does not intend to grow at the expense of its quality of service. To stay the course, the bank has hired an outside firm, Performance Solutions (a company started by former Ritz-Carlton employees), to survey its customers four times a year.

“You can’t improve what you can’t measure,” said Saunders. “We’re spending a lot of money and energy to ask about the quality of service we deliver so we can effectively deliver what we promise.”

First Reliance’s “There’s More to Banking Than Money™” and “Easy To Do Business With™” standards have earned the young bank a customer satisfaction rating of 94 percent (Performance Solutions - November 2005 - Audited.), boasts D. Lee Daugherty, Vice President/Community Banking Officer.

“This is a real badge of honor,” he said.

Also, the bank has been recognized for its success including being the only bank ever to be named to The Top 25 Fastest Growing Companies™ in South Carolina three times, including 2005.

First Reliance Bank was founded in 1999 by Rick Saunders, Paul Saunders and Dale Porter. Today the bank has assets of over $400 million and $51 million in market capital. It is traded as FSRL.OB.

Out of 18 different banks in Florence, First Reliance has grown in six years to become the third largest in deposit market share as ranked by the federal government. It is in the top 20 in South Carolina, out of 107 banks.

Saunders believes the bank’s success can be attributed to its dedicated work force of people committed to accomplishing its goals. Through its extensive hiring process, the bank chooses personnel with the personality and skills that work with the company. It is a work culture of service and a high work ethic in a competitive environment.

“We’re not bankers, we’re business people in the business of banking,” he explained.

The bank’s main office is located at 2170 W. Palmetto Street with a branch on Second Loop Road. For more information, call 656-5000 or visit www.firstreliance.com.

Rick Saunders is married to Tiffany. The couple has an 18-year-old son in college, a two-year-old son, a three-year-old daughter whom they adopted from China, and they are waiting to adopt another daughter from China.

Lee Daugherty is married to Melissa and they have a three-year-old son.