First Reliance Bank has a strategic focus on growing loan volume through 1-4 family homes and an indirect auto finance business line now in it's second year. One of the first things the bank did was hire auto-finance veteran David Hall as SVP for Dealer Services who put together a business model to work with local dealerships.
Hall knew using Dealertrack would be critical to the success of the program and most of the dealer partners prefer to use Dealertrack.
Read more about David Hall and the Dealer Services program growth through the use of Dealertrack here: David Hall - Dealertrack
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
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
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