Branch Closings: Hurricane Dorian

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Andy_McDowell_PhotoApril 3, 2018, Florence, SC – First Reliance Bank is pleased to welcome Andy McDowell, Fuller Parham and David Dahl to the Winston-Salem Loan Production Office, which opened in the fall of 2017.

McDowell serves as Senior Vice President and City Executive for the Winston-Salem, NC market.  In his new role, he will be charged with developing and managing banking relationships with small-to-mid-size business owners.  He will also be responsible for building the First Reliance Bank team and promoting their brand in the greater Forsyth County market.  McDowell brings more than 30 years of banking experience to the position, most of which has been in leadership positions in the Winston-Salem area.

First Reliance Bank is also adding two new relationship bankers to the existing team showing their commitment to Winston-Salem.  Fuller Parham and David Dahl have joined the team which already includes Alan Lomax.

Robert_Fuller_Press_ReleaseMr. Parham received his MBA from ...

President's Club LOGO-2017March 29, 2018, Florence, S.C.  – First Reliance Bank recently announced that eighteen associates have been named to the 2017 President’s Club.

Each year, as part of the bank’s associate rewards and recognition program, all managers have the opportunity to nominate an outstanding associate and submit a detailed reason of why the chosen associate deserves the award.  Executive Management then carefully reviews the nominations and selects the associates who go above and beyond performance expectations and who are the best role models for living the values of First Reliance Bank.

President’s Club awards are for outstanding sales and service, operational excellence, professional, and leadership.   The 2017 President’s Club Winners are: Marie Wheeler, Florence Service,  David Mullins, Florence Service,  CM Brown, Florence Sales, Pam McCaskill, Florence Sales,  Tracy Brown, Lexington Service, Jason Koth, Lexington Sales, Bobby Mathewes, Charleston Sales, Shaniqua Pinckney, Charleston Service, Tina ...

brazellpictureRapidly growing First Reliance Bank promotes one of its top executives to the position of President of South Carolina.
March 27, 2017, Florence, S.C. — Banking executive Ben Brazell has been promoted to the role of President South Carolina as part of the growth strategy of Florence-based First Reliance Bank. He will oversee sales management and community development for all South Carolina markets, as well as leading the growth initiatives of branch and market expansion, strategic acquisitions, and is responsible for the profitability of the SC sales platform.

During his career, Mr. Brazell has held a number of positions in the banking industry, including sales management and executive leadership. Prior to coming to First Reliance, he served as Market President in Tennessee for a national bank, where he provided leadership and strategic direction to all business lines and activities. Most recently, he has served as First Reliance Market President for ...

INB Main OfficeFLORENCE, S.C., Jan. 24, 2018 -- First Reliance Bancshares, Inc. (OTC Pink:  FSRL) ("First Reliance") today announced that it completed the acquisition of Greenville, South Carolina-based Independence Bancshares, Inc. (OTCQB:  IEBS) ("Independence") effective January 23, 2018.  Independence's bank subsidiary, Independence National Bank, was merged with First Reliance's bank subsidiary, First Reliance Bank, with First Reliance Bank continuing as the surviving bank.  The full conversion of the Independence National Bank systems is expected to be completed by March 5, 2018.

The acquisition of Independence National Bank expands First Reliance's presence in the dynamic Greenville, South Carolina market and is an integral part of the bank's broader strategy to expand its footprint in top-tier markets throughout North and South Carolina.  The acquisition gives the existing First Reliance team in Greenville additional resources to expand its presence in the market, and provides further momentum in executing the bank's targeted expansion strategy.  First Reliance ...

David Barksdale has joined First Reliance Bank as President of North Carolina. Barksdale is responsible for the strategic market expansion of First Reliance Bank’s footprint in North Carolina. He will oversee sales management and community development for all North Carolina markets. Mr. Barksdale has over 30 years experience in the banking industry. Most recently, he was President and Chief Executive Officer of Carolina Premier Bank/Premara Financial, Inc. Prior to that Barksdale served in various executive roles at NewBridge Bank with increased levels of responsibility the last being Senior Executive Vice President, Chief Strategy Officer, where he led the identification and implementation of bank acquisition opportunities. Barksdale is a graduate of Wake Forest University where he earned a Bachelor of Science in Mathematics. He is active in Boy Scouts of America, Community Investment Corporation of the Carolinas, and has held various board positions in the following organizations which include; North Carolina ...

By Jackie Stewart
This article reprinted from American Banker magazine.  Published October 19 2017, 11:00am EDT

First Reliance Bancshares in Florence, S.C., has finally gotten involved in the consolidation wave sweeping the Carolinas.

The $435 million-asset company recently announced the first acquisition in its 20-year history, agreeing to buy Independence Bancshares in Greenville, S.C.

Sellers in the CarolinasThe deal and the company's recent entry into a North Carolina market are designed to help the company stake a claim to independence. While some risk is involved, the strategies are good ones if they are well executed, industry experts said.

Rick Saunders, First Reliance’s president and CEO, is convinced the company will succeed due to a culture that places a high value on employees.

“We’re big believers that associates come first, customers are second and shareholders are third,” Saunders said. “We believe engaged associates equal loyal customers. With those two working well, then the shareholder ...

Jack McEleveen, Chief Credit OfficerOctober 16, 2017, Florence, S.C. — Jack McElveen has joined First Reliance Bank as Chief Credit Officer. As Chief Credit Officer, McElveen is responsible for the management and oversight of the bank’s loan portfolio.  He will oversee all credit administration functions and will provide direct supervision and accountability for Credit Administration, Loan Operations, Special Assets and Loss Mitigation & Recovery.

Mr. McElveen has over 30 years experience in credit administration in the banking industry. He began his career in the financial services industry with Bankers Trust of SC/NCNB.  Over the following years McElveen served in various credit administration roles with increased levels of responsibility with the last being Chief Credit Officer, EVP, of Horry County State Bank where he was responsible for management and oversight of the bank’s Credit Administration function.

McElveen is a graduate of Clemson University where he earned a Bachelor of Science in Financial Management.

“Jack is ...

By Jackie Stewart, American Banker magazine Published September 26 2017, 2∶29pm EDT First Reliance Bancshares in Florence, S.C., has agreed to buy Independence Bancshares in Greenville, S.C. The $435 million-asset First Reliance said in a press release Monday that it will pay about $11 million in cash for the $90 million-asset Independence. The deal is expected to close in the first quarter.  First Reliance also announced that it had raised $25.1 million from a private placement of common and nonvoting preferred stock to various investors. The funds will help pay for the acquisition. First Reliance, led by CEO Rick Saunders, is set to expand into Greenville, S.C., with its latest acquisition. "The capital raise will support the bank's simultaneously announced acquisition of Independence and expand the company's footprint into the highly attractive” Greenville, S.C., market, Rick Saunders, First Reliance’s president and CEO, said in the release. “Independence is one of ...

financial_hardshipFinancial hardship can strike anyone. Whether it’s a series of bad decisions, an unforeseen misfortune, or a combination of the two, it’s easy for even the most fiscally responsible person to run into financial problems. Getting back on track can take time, and staying on the right track requires the right habits. Here are some strategies you can use to bounce back from financial hardships.

Understanding Your Available Banking Options

Different people have different needs when it comes to banking. Some people may find that their current needs require special banking programs. Institutions like First Reliance Bank provide various options to help people from all walks of life handle their finances in a responsible matter. Whether it’s a business owner who wants to take a better approach to the company’s financial resources or an individual who needs more money, having the right program is important.

Get Answers to Important Financial ...

business_financeGrowing a business is an exciting and demanding experience. Business owners are generally determined and studious, and this dedication can help them learn the ropes about how to handle a company’s books. When the business begins to grow, things get a little more challenging.

Taking and making payments at various locations can become more important, and you may also be required to manage larger amounts on a regular basis. Business banking programs like the one at First Reliance Bank offer features that most organizations need during expansion.

Features of Business Banking

Companies that have moved beyond the startup phase need to upgrade their bank account. Luckily, business options come pre-loaded with the perks growing organizations need. The first is 24/7 access to money. Business owners often work odd hours and find themselves handling tasks from multiple locations. Constant access to accounts, combined with a wide network of ATMs, makes it ...

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