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First Reliance Bank

Press Releases

Paul and Freddie Saunders

SHE Magazine, June 2016 issue, ran a feature article on Paul Saunders who was the 2015 He Behind The She award recipient at the SHE Inspires Extraordinary Women event.  Paul's name was submitted by several woman owned businesses in Florence that he helped start and expand their business by providing banking support. The full article can be read here:  Paul and Freddie Saunders

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Partial Redemption of TARP Preferred

First Reliance Makes Partial Redemption of TARP Preferred And Notices Intent to Redeem All Remaining Shares Outstanding

FLORENCE,  South Carolina – June 3, 2016 – First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the “Company”) for First Reliance Bank (the “Bank”), announced that it made a partial redemption of 4,000 shares, or 26.1 % of its 15,349 shares of outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”) that were originally issued to the United States Department of the Treasury (“U.S. Treasury”) under the Troubled Asset Relief Program Capital Purchase Program (“TARP”).  In March 2013, the U.S. Treasury sold all 15,349 shares of Series A Preferred Stock and Fixed Rate Cumulative Perpetual Preferred Stock, Series B (“Series B Preferred Stock”) previously held by it to private investors.  The redemption price for the shares of Series A Preferred Stock was $1,000 per share, plus accrued and unpaid dividends.  The total aggregate redemption prices of the shares of Series A Preferred Stock was $4 million. The Company also announced today that it has sent required thirty day notice letters to owners informing them of redemption of the remaining 11,349 shares of Series A Preferred Stock and 767 shares of

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Bozard Joins The First Reliance Business Banking Team

John Bozard has joined First Reliance Bank as a Relationship Banker, for the Lexington, S.C. area. In his new role, he will be reaching out to businesses throughout the area and introducing them to First Reliance Bank's business products and services and he’ll represent the Bank through involvement in local associations, charities or business organizations. Bozard spent the majority of his banking career with First Citizens Bank in Lexington, South Carolina and has over 30 years of experience. His long track record includes successfully leading the Lexington area commercial lender efforts. He has achieved numerous banking awards including a Top Performer Best Banker Award for highest branch and individual performance scores among peers. Bozard has a Bachelor of Science in Business Administration from Presbyterian College, South Carolina. He also has a Masters of Strategic Studies from the United States Army War College. He currently serves as a council member of the USO of SC, is currently Secretary and President Elect for the Rotary Club of Lexington.  He is a member of the Greater Columbia Leads Group, and former Ambassador and Board Member of the Greater Lexington Chamber of Commerce, former member of the Lexington County Sheriffs Foundation, former member of Lexington Toastmasters, Lifetime

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7 Tips To Avoid Online Fraud

Every year, millions of consumers fall victim to cybercrime. According to the FBI’s Internet Crime Complaint Center, in 2014, consumers lost more than $800 million from scams initiated through the web. In recognition of Internet Safety Month in June, First Reliance is highlighting seven tips to help consumers protect themselves from online fraud. “The Internet has become one of the most popular tools used to commit fraud and criminals are becoming more and more sophisticated with their hacking techniques,” said Jeff Paolucci, Chief Financial  Officer“.  As a result, it’s extremely important for consumers to secure their wireless networks and filter the amount of personal information they choose to divulge online.” First Reliance Bank recommends the following tips to keep you safe online:
  • Keep your computers and mobile devices up to date.  Having the latest security software, web browser, and operating system are the best defenses against viruses, malware, and other online threats. Turn on automatic updates so you receive the newest fixes as they become available.
  • Set strong passwords. A strong password is at least eight characters in length and includes a mix of upper and lowercase letters, numbers, and special characters.
  • Watch out for phishing scams. Phishing scams use fraudulent emails and websites to

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