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 ...

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 ...

April 26, 2016, Florence, S.C. — First Reliance Bank is now accepting applications for its annual Francis Marion Scholarship through May 31, 2016. The First Reliance Bank Scholarship recognizes and assists outstanding students who are pursuing a degree in business or finance. Administered through the Francis Marion University Foundation, the scholarship program has been helping area-wide students to meet their academic financial obligations since 2010. “First Reliance Bank believes in encouraging continuous personal improvement and the Francis Marion scholarship program is one way that we can make a difference with our community's youth,” said Rick Saunders, president and CEO of First Reliance Bank. “Making your way through school can be challenging — especially if you're committed to staying at the top of your class. We're proud to partner with Francis Marion to help outstanding students with their financial obligations so that they can focus on achieving their academic goals.” To ...

Posted: Wednesday, March 30, 2016 8:11 am BY JOE PERRY Morning News FLORENCE, S.C. – Leaders of business and industry gathered Tuesday evening at the Hilton Garden Inn to welcome representatives from Ruiz Foods, Honda of South Carolina, South East Express and Johnson Controls who have recently moved to the area. The event was sponsored by First Reliance Bank and Raldex Hospitality. The aim was to simply welcome newcomers and let them know Florence is happy to have them, said Joan Billheimer, community development officer for the bank. “We’re getting ready to start the second line,” said Jim Bowman, Ruiz Foods’ operations manager. “Things are looking good. so we’re excited to make product.” Bowman, who hails from Davenport, Iowa, joined the family-owned and California-based company after working for Oscar Meyer for 20 years, and was referring to a line of snack foods known as Tornados that are commonly found on ...

Florence banking community flourishes over the years

This excerpt of the article was posted, Wednesday, March 23, 2016 8:00 am in the Morning News.  The article was written by and is posted in Courtesy of JOE PERRY Morning News jperry@florencenews.com  The full article can be viewed by clicking on the following link:  http://www.scnow.com/news/business/local/article_f5652b8c-ed18-11e5-9401-4bce3de4e58e.html
FLORENCE, S.C. – When Rick Saunders was a young man still finding his way in the world, he fell in love. With the finance industry.

“I tripped over myself and landed in it,” he said, laughing. “I was a typical young man concerned about what path in life I would take.”

The 55-year-old Sumter native who grew up in Timmonsville first worked in consumer finance before delving into banking.

“It wasn’t until a company I was working for was sold to a much larger organization that I realized the need for clarity around my beliefs and ...

Feb 12, 2015, Florence, S.C. - Rick Saunders, President/CEO was recognized with an Entrepreneur Award from the Florence Darlington Technical College February 11, 2016 at their second annual entrepreneurial forum. Rick, his brother Paul and friend, Dale Porter started the bank because they saw a need for a bank that was designed and operated with the community in mind. One with strong values, and an even stronger team of associates. They saw a need to create a bank that could become a rock in the community, based on trust and relationships; one that could make a real difference in the lives of its customers. They saw a need for a better bank. So they followed their dream to start a bank and contribute to their community in 1999 and First Reliance Bank was born. It took hard work and passion and learning from others, all traits the other recipients of ...

Feb 24, 2015, Florence, S.C. – First Reliance Bank recently announced that seventeen associates have been named to the 2015 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 2015 President’s Club Winners are: Wendy Cooley,Charleston Service, Neil Oliver, Charleston Sales, Donna Smith, Indirect Sales, Gail Berry, Lexington Service, Jason Koth, Lexington Sales, Sherry Byrd, Mortgage Operations, Johnny Nexsen, Mortgage Sales, Robyn Paul, Mortgage Sales, Phyllis Brosh, Wholesale / Correspondent Mortgage, Shayna Wallace, Florence ...

Relay For Life of Florence County raises over $190,000 in 2015, surpassing their goal by over $30,000.

Florence, SC (September 2, 2015) – As the 2015 season of Relay For Life closes, Florence County celebrates an outstanding Relay season! On April 25, 2015 Relay For Life of Florence County hosted its 21st year with a nine hour walk at Freedom Florence Recreational Complex, in spite of some unfavorable weather conditions. “Weather doesn’t stop a cancer patient’s treatment and it didn’t stop us”, said Relay For Life Community Manager, Chinel Boateng.

Teams from Assurant, PGBA, and First Reliance Bank were the top fundraising teams this year.

“Relay For Life allows the entire community the opportunity to do something positive when so much negative surrounds the disease”, said 2015 Relay For Life of Florence County Event Lead, Katrina Graham. “I am proud of Florence County for coming together to support one another ...

Joan Billheimer, Community Development Officer for First Reliance Bank in Florence, was among those honored from across the state. The contributions Mrs. Billheimer makes to economic development efforts in Florence County are tremendous. She serves as the Vice Chair of Florence County Progress, Inc., the private arm of the Florence County Economic Development Partnership, and also as Membership Chairman. She has been instrumental in growing the membership of Florence County Progress since becoming involved. Mrs. Billheimer serves on numerous boards in Florence County, including The McLeod Foundation Board.

Ambassadors for Economic Development were honored by Gov. Nikki Haley at a ceremony at the Governor’s Mansion Complex on Thursday, April 2, 2015. The individuals were recognized for exceptional efforts to further community and economic development initiatives throughout the state.

Each year, the Department of Commerce joins local communities to thank business and industry for its contributions to South Carolina’s economy. Ambassadors ...

Year after year First Reliance's Relay For Life Team, under the leadership of Joan Billheimer, Community Development Officer, shows its commitment to the American Cancer Society.  This year, First Reliance is the second top team in Florence County for raising funds announced Chinel Boateig, American Cancer Society. "First Reliance is very committed to supporting the community and giving back," said Rick Saunders, CEO.  "Joan is a strong leader for our fundraising events and is very committed to this cause as well as serving as a resource for our associates.  Several of our employees are cancer survivors and many of our employees have family and friends who have had cancer.  Our company truly wants to make a difference by supporting this cause that has affected so many people including our own." [caption id="attachment_7379" align="alignleft" width="300"] Joan Billheimer hosting Colors of Cancer Fundraiser dinner.[/caption] Joan Billheimer, a thirteen year cancer survivor herself, ...