September 25, 2017, Florence, S.C. –
First Reliance Bank recently announced they have entered into an agreement to acquire Independence National Bank a locally-owned community bank headquartered in Greenville, South Carolina which has approximately $90.0 million in assets, $76.1 million in deposits and three branch locations. The acquisition is expected to close early in the first quarter of 2018.
“We are a community bank buying a community bank with the goal to continue delivering the community banking model of developing strong relationships with our customers and providing an incredible experience. We are passionate about our purpose ‘to make the lives of our customers better’. We believe that if you achieve delivering your purpose and treat customers right, then financial results will follow.” said Rick Saunders, President and CEO. “We welcome our new customers and associates created by this merger and look forward to serving them with excellent customer service our brand of banking. First Reliance has always been a strong community partner in all our markets and we are excited to support the communities in Greenville.”
First Reliance has a clear business model which it delivers through a “hometown banking” brand, strong culture and core values of community banking. Customers seem to
// // // // ATLANTA, Sept. 7, 2017
Article reprinted from SCNOW.com STAFF REPORTS, Aug 23, 2017
[caption id="attachment_9208" align="alignleft" width="300"] A ribbon cutting ceremony for First Reliance Bank's newest branch was held Thursday, July 27 by the members of the Summerville Chamber of Commerce. The office is located at 133 E. 1st North St. and is open Monday through Friday.[/caption]
First Reliance Bank has created a number of new jobs throughout the branch, including within their operational team in Florence, after expanding into the Summerville market area.
According to Pamela Rhoads, vice president of customer experience at First Reliance Bank, the company has added approximately 25 positions to support their growth initiatives for both branch growth, their dealer finance business line and their expanded mortgage business line.
"Not all the positions are in Florence but our operational area resides here which support these initiatives," Rhoads said.
Rick Saunders, president and CEO of First Reliance, said the bank will continue to look for additional expansion opportunities throughout the Southeast and bring their brand of banking to new markets.
"We are a Florence-based bank," Saunders said. "As we grow and expand our footprint throughout the Southeast it creates more opportunity for additional jobs in Florence, especially in our operational and support areas of the bank."
First Reliance Bank recently announced expansion into the Summerville market area with the opening of a full service branch. A ribbon cutting ceremony was held Thursday, July 27th by the members of the Summerville Chamber of Commerce. The Summerville branch provides Personal Banking, Business Banking, Investments and Insurance, and Mortgage Banking. The office is located at 133 E. 1st North St. Suite #4, Summerville, South Carolina and is open 8:30am -5pm Monday – Thursday and 8:30am – 6pm on Fridays.
“We are excited to expand our current Charleston market presence into the Summerville area,” said Ben Brazell, Charleston Market President. “It’s a growing area that we’ve wanted to provide full banking services to for quite awhile. We already have been providing business loans, indirect auto finance and mortgage services to Summerville and now have expanded to be a full service branch in order to support the consumer and business needs of the community.”
Jerry Davis, has joined the First Reliance Bank team as Senior Vice President and City Executive for the Summerville Market. Mr. Davis has an extensive background in banking, during which he worked for several community banks throughout Dorchester County where he held numerous management and executive leadership positions. His