First Reliance Bancshares Inc (PK:FSRL)

Business Focus: Commercial Banks

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Apr 25, 2024 04:15 pm ET

First Reliance Bancshares Reports First Quarter 2024 Results

FLORENCE, S.C., April 25, 2024 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the first quarter of 2024.

Jan 26, 2024 08:00 am ET

First Reliance Bancshares Reports Fourth Quarter 2023 Results

FLORENCE, S.C., Jan. 26, 2024 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the fourth quarter and full year of 2023.

Oct 26, 2023 04:10 pm ET

First Reliance Bancshares Reports Third Quarter 2023 Results

FLORENCE, S.C., Oct. 26, 2023 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the third quarter of 2023.

Jul 26, 2023 04:25 pm ET

First Reliance Bancshares Reports Second Quarter 2023 Results

FLORENCE, S.C., July 26, 2023 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the second quarter of 2023.

Apr 26, 2023 04:30 pm ET

First Reliance Bancshares Reports First Quarter 2023 Results

FLORENCE, S.C., April 26, 2023 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the first quarter of 2023.

Mar 29, 2023 03:59 pm ET

Redden Named to First Reliance Bank Board

FLORENCE, S.C., March 29, 2023 /PRNewswire/ -- Rick Redden has been named to the First Reliance Bank Board of Directors. Rick has extensive experience working with banks, public and private companies, non-profits, and higher educational institutions to establish or enhance strategic plans, navigate industry change, and accelerate execution. He has assisted clients with acquisitions, major investments, capital structure decisions, and succession strategies.

Feb 01, 2023 07:00 am ET

First Reliance Bancshares Reports Fourth Quarter 2022 Results

FLORENCE, S.C., Feb. 1, 2023 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the fourth quarter of 2022.

Nov 29, 2022 08:49 am ET

First Reliance Bancshares Announces Management Change

FLORENCE, S.C., Nov. 29, 2022 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced a change in the Bank's management team. Robert Dozier, Senior Executive Vice-President and Chief Operating Officer ("COO") of First Reliance Bank, announced his departure from the organization to become the CEO of a non-bank financial services company, effective December 31, 2022.

Nov 01, 2022 04:00 pm ET

First Reliance Bancshares Reports Third Quarter 2022 Results

FLORENCE, S.C., Nov. 1, 2022 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the third quarter of 2022.

Jul 29, 2022 08:30 am ET

First Reliance Bancshares Reports Second Quarter 2022 Results

FLORENCE, S.C., July 29, 2022 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the second quarter of 2022.

Apr 27, 2022 04:30 pm ET

First Reliance Bancshares Reports First Quarter 2022 Results

FLORENCE, S.C., April 27, 2022 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the first quarter of 2022.

Jan 26, 2022 03:30 pm ET

First Reliance Bancshares Reports Fourth Quarter 2021 Results

FLORENCE, S.C., Jan. 26, 2022 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the fourth quarter and full year 2021.

Oct 21, 2021 08:30 am ET

First Reliance Bancshares Reports Third Quarter 2021 Results

FLORENCE, S.C., Oct. 21, 2021 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the third quarter of 2021.

Jul 20, 2021 04:30 pm ET

First Reliance Bancshares Reports Second Quarter 2021 Results

FLORENCE, S.C., July 20, 2021 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the second quarter of 2021.

Jan 28, 2021 07:30 am ET

First Reliance Bancshares Reports Fourth Quarter 2020 Results

FLORENCE, S.C., Jan. 28, 2021 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the fourth quarter of 2020.

Jan 26, 2021 07:54 am ET

First Reliance Bank Adds Another Industry Veteran To Bank Leadership

FLORENCE, S.C., Jan. 26, 2021 /PRNewswire/ -- First Reliance Bank has hired longtime banking industry executive F. Justin Strickland to serve as President of First Reliance Bank as it continues to expand its presence throughout North and South Carolina. The bank has recently invested heavily in tenured leadership who have spent their careers in the Carolinas and have built reputations as leaders in the industry.

Jan 14, 2021 08:15 am ET

First Reliance Bank Announces New Credit Team Leadership

FLORENCE, S.C., Jan. 14, 2021 /PRNewswire/ -- First Reliance Bank announced today that Brook Moore has been promoted to the position of chief credit officer. Moore will succeed Jack McElveen, who will remain in a credit leadership position with the bank.

Dec 22, 2020 05:01 am ET

First Reliance Bancshares Announces Executive Leadership Changes

FLORENCE, S.C., Dec. 22, 2020 /PRNewswire/ -- First Reliance Bancshares has appointed Robert F. Dozier, Jr. to the dual roles of President of the holding company, First Reliance Bancshares Inc. and Chief Operating Officer (COO) of First Reliance Bank. In addition, the bank also promoted Charles H. Stuart to President of the Mortgage Division.

Nov 18, 2020 11:24 am ET

First Reliance Bank Expands Financial Leadership Team

FLORENCE, S.C., Nov. 18, 2020 /PRNewswire/ -- First Reliance Bank has hired Robert Haile as Chief Financial Officer (CFO), Elizabeth Bunn as Treasurer, and elevated Jeff Paolucci into the role of Chief Risk Officer (CRO). These changes begin the first phase of building out what CEO Rick Saunders describes as a "leadership team of unprecedented depth, insight and capability" in the bank's two decades of business.

Oct 28, 2020 06:01 am ET

First Reliance Reports Record 3rd Quarter 2020 Net Income Of $4.5 Million

FLORENCE, S.C., Oct. 28, 2020 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "First Reliance" or the "Company"), today announced its financial results for the three-month period ended September 30, 2020.

Jul 27, 2020 06:01 am ET

First Reliance Reports Record 2nd Quarter 2020 Net Income Of $3.9 Million And Completes S5.5 Million Subordinated Debt Issuance

FLORENCE, S.C., July 27, 2020 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), the holding company for First Reliance Bank (collectively, "Company" or the "Company"), today announced its financial results for the three-month period ended June 30, 2020.

May 05, 2020 06:01 am ET

First Reliance Reports First Quarter 2020 Financial Results

FLORENCE, S.C., May 5, 2020 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC:FSRL), holding company for First Reliance Bank ("Company"), today announced its financial results for the three-month period ended March 31, 2020.

Oct 30, 2019 03:38 pm ET

/C O R R E C T I O N -- First Reliance Bancshares, Inc./

In the news release, First Reliance Bancshares, Inc. Reports Record 3rd Quarter 2019 Earnings Results Of $1.5 Million, Up 113%, issued 30-Oct-2019 by First Reliance Bancshares, Inc. over PR Newswire, we are advised by the company that a second footnote was missing from the first table ("Changes in key balance sheet items") and that in the "Highlights" section a bullet was added and a bullet was removed. The complete, corrected release follows:

Oct 30, 2019 06:01 am ET

First Reliance Bancshares, Inc. Reports Record 3rd Quarter 2019 Earnings Results Of $1.5 Million, Up 113%

FLORENCE, S.C., Oct. 30, 2019 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), today reported net income of $1.5 million, or $0.19 per diluted share for the three-months ended September 30, 2019 compared to $707,098, or $0.09 per diluted share, for the same period one year ago. Net income for the nine-months ended September 30, 2019, was $3.5 million, or $0.43 per diluted share, compared to $1.3 million, or $0.16 per diluted share for the same period one year ago. Net income for the nine-month period repr

Aug 02, 2019 06:00 am ET

First Reliance Bancshares, Inc. Reports Record Mid Year Earnings Results, Up 258% Versus First Half Of 2018

FLORENCE, S.C., Aug. 2, 2019 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), today reported net income of $2.0 million, or $0.25 per diluted share for the six-months ended June 30, 2019 compared to $553,869, or $0.07 per diluted share, for the same period one year ago. Net income for the three-months ended June 30, 2019, was $1.3 million, or $0.16 per diluted share, compared to $465,797, or $0.06 per diluted share for the same period one year ago. Net income for the six-months ended June 30, 2019 represe

May 01, 2019 06:00 am ET

First Reliance Bancshares, Inc. Reports 1st Quarter 2019 Results and Reaffirms Stock Repurchase Plan

FLORENCE, S.C., May 1, 2019 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported first quarter 2019 net income of $661,955, or $0.08 per diluted share, up significantly from first quarter 2018 net income of $88,072 or $0.01 per diluted share. The increase in net income for the first quarter of 2019 versus 2018 was due primarily to higher net interest income, which grew 9%, and benefited from loan growth of $57 million, up 14% year over year. Also during the first quarter of 2019, the Company made

Jan 25, 2019 05:00 am ET

First Reliance Bancshares, Inc. Reports 4th Quarter 2018 Results And Reaffirms Stock Repurchase Plan

FLORENCE, S.C., Jan. 25, 2019 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported fourth quarter 2018 net income of $1,205,120, or $0.15 per diluted share, up significantly from fourth quarter 2017 net loss of $2,719,627 or $0.35 per diluted share. The increase in net income for the fourth quarter of 2018 versus 2017 was due primarily to loan growth of $97.1 million, up 29.1% year over year, thus increasing net interest income by $1.0 million, or 26.6%, year over year, and the one-time gain on nonmar

Oct 29, 2018 04:15 pm ET

First Reliance Bancshares, Inc. Reports 3rd Quarter 2018 Results And Reaffirms Stock Repurchase Initiative

FLORENCE, S.C., Oct. 29, 2018 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported third quarter 2018 net income of $707,098, or $0.09 per diluted share down slightly from third quarter 2017 net income of $732,793 or $0.15 per diluted share. The decrease in net income for the three month period of 2018 versus 2017 was due primarily to new market expansion costs which impacted third quarter earnings by approximately $400,000 and a higher provision for loan losses, which was $204,000 in 2018's third qua

Aug 10, 2018 06:01 am ET

First Reliance Bancshares, Inc. Reports 2nd Quarter 2018 Results and Announces Stock Repurchase Initiative

FLORENCE, S.C., Aug. 10, 2018 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported second quarter 2018 net income of $465,797, or $0.06 per diluted share. The Company's operating earnings were $591,343, or $0.07 per diluted share. Operating earnings is a non-GAAP measure comprised of net income exclusive of non-recurring merger related expenses. Non-recurring merger related expenses incurred in the second quarter were $125,546, or $0.01 per diluted share.

May 08, 2018 04:01 pm ET

First Reliance Bancshares, Inc. Reports 1st Quarter 2018 Results And Completes Systems Integration Of Independence Bancshares

FLORENCE, S.C., May 8, 2018 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported first quarter 2018 net income of $88,072, or $0.01 per diluted share. The Company's core operating earnings were $786,170, or $0.10 per diluted share. Core operating earnings is a non-GAAP measure comprised of net income exclusive of non-recurring merger related expenses. Non-recurring merger related expenses incurred in the first quarter were $698,098, or $0.09 per diluted share.

Feb 28, 2018 08:00 am ET

First Reliance Bancshares Reports 4th Quarter 2017 Results And Completes Acquisition Of Independence Bancshares

FLORENCE, S.C., Feb. 28, 2018 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported a fourth quarter 2017 net loss of $2,719,627, or $0.34 per diluted share. The Company's adjusted net income was $426,266, or $0.05 per diluted share, excluding an estimated tax charge of $2.7 million, related to the Tax Cuts and Jobs Act and non-recurring merger related expenses incurred in the fourth quarter of $501,265 totaling $0.39 per diluted share. The tax charge was attributed entirely to the revaluation of the

Jan 23, 2018 05:00 am ET

First Reliance Bancshares, Inc. Announces Completion of Merger With Independence Bancshares, Inc.

FLORENCE, S.C., Jan. 23, 2018 /PRNewswire/ -- 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.

Jan 11, 2018 05:00 am ET

First Reliance Bancshares, Inc. and Independence Bancshares, Inc. Receive All Required Regulatory and Shareholder Approvals for Pending Merger

FLORENCE, S.C. and GREENVILLE, S.C., Jan. 11, 2018 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC Pink: FSRL) ("First Reliance" or the "Company") today announced that the Federal Deposit Insurance Corporation and the South Carolina Board of Financial Institutions have granted the regulatory approvals necessary for the pending mergers of Independence Bancshares, Inc. ("Independence") and its wholly-owned subsidiary, Independence National Bank, with and into First Reliance and its subsidiary, First Reliance Bank. The merger is expected to close on January 19, 2018, with full convers

Jan 10, 2018 05:00 am ET

David Barksdale Joins First Reliance Bank As President Of North Carolina

FLORENCE, S.C., Jan. 10, 2018 /PRNewswire/ -- 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.

Nov 01, 2017 05:30 pm ET

First Reliance Reports 3Q17 Net Income of $733,000, Tangible Book Value Increases 23% and Provides Update on Acquisition

FLORENCE, S.C., Nov. 1, 2017 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported third quarter 2017 net income of $733,000, down 30% from third quarter 2016 net income of $1.04 million. Profitability continues to be led by strong loan and deposit growth and expanding operating efficiencies but has been impacted temporarily with the opening of two new branch offices and a decline in mortgage income stemming from a slowdown in correspondent bank mortgage originations. Diluted earnings per share for th

Sep 25, 2017 06:30 pm ET

First Reliance Bancshares Enters Agreement to Acquire Independence Bancshares, Inc. (IEBS); Completes $25.1 Million Capital Raise

FLORENCE, S.C., Sept. 25, 2017 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC Pink: FSRL) ("First Reliance" or the "Company"), parent of First Reliance Bank, today announced the entry into a definitive agreement to acquire Independence Bancshares, Inc. ("Independence" or "IEBS") and its wholly-owned bank subsidiary, Independence National Bank, of Greenville, SC, which has approximately $90.0 million in assets and $76.1 million in deposits. Concurrent with the announcement of its entry into a definitive agreement to acquire IEBS, the Company also announced the closing of a private plac

Aug 09, 2017 07:00 am ET

First Reliance Reports 2Q17 Net Income Of $662,632

FLORENCE, S.C., Aug. 9, 2017 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported second quarter 2017 net income after tax of $662,632, up 4.5% from first quarter 2017 net income after tax of $634,042. Profitability continues to be led by strong loan and deposit growth and expanding operating efficiencies. Diluted EPS as of June 30, 2017 was $0.14 compared to $0.13 in the first quarter of 2017.

Apr 28, 2017 07:00 am ET

First Reliance Reports Record 1Q17 Net Income Of $634,042 Up 23.32% From 1Q16

FLORENCE, S.C., April 28, 2017 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported first quarter 2017 net income after tax of $634,042. Profitability continues to be led by strong loan and deposit growth, and expanding operating efficiencies. In the first quarter of 2017, net income after tax is up 23.32% compared to $514,138 in the first quarter a year ago. Net income to common shareholders improved 329.9% in the first quarter of 2017 to $634,042 compared to $147,499 in the first quarter one year

Mar 21, 2017 07:01 am ET

First Reliance Bank Announces New Board Chairman

FLORENCE, S.C., March 21, 2017 /PRNewswire/ -- First Reliance Bank has announced the appointment of J. Munford Scott, Jr. as Chairman of the Board. Scott has served as a Director of First Reliance Bank since January 2007 and as Chairman of the Compensation Committee.

Feb 21, 2017 06:00 am ET

First Reliance Reports Record 4Q16 Pre-Tax Income Of $1.4 Million, Up 52.72% From 4Q15

FLORENCE, S.C., Feb. 21, 2017 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported fourth quarter 2016 pre-tax profits of $1,441,795. This is the 12th consecutive quarter of profitability which continues to be fueled by strong loan and deposit growth, and expanding operating efficiencies. In the fourth quarter of 2016, pre-tax income is up 52.72% compared to $944,100 in the fourth quarter a year ago. Net income totaled $957,216 for the quarter ended December 3 1, 2016. Net income to common sharehol

Oct 31, 2016 07:00 am ET

First Reliance Reports Record 3Q16 Pre-Tax Income Of $1.6 Million, Up 60.25% From 3Q15

FLORENCE, S.C., Oct. 31, 2016 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported third quarter 2016 pre-tax profits of $1,592,616. This is the 11th consecutive quarter of profitability which continues to be fueled by strong loan and deposit growth, and expanding operating efficiencies. In the third quarter of 2016, pre-tax income is up 60.3% over $993,844 in the third quarter a year ago. Net income totaled $1,046,684 for the quarter ended September 30, 2016. Net income to common shareholders impr

Aug 10, 2016 07:30 am ET

First Reliance Reports Record 2Q16 Pre-tax Income of $1.5 million, up 121.2% from 2Q15

FLORENCE, S.C., Aug. 10, 2016 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported second quarter 2016 income before income taxes of $1,468,533. This is the 10th consecutive quarter of profitability which has been fueled by strong loan and deposit growth, and expanding operating efficiencies. In the second quarter of 2016, income before income taxes is up 121.2% over $12,009 in the second quarter of 2015. Net income totaled $1,003,867 for the quarter ended June 30, 2016, After preferred dividends,

Aug 10, 2016 07:00 am ET

First Reliance Makes Partial Redemption of TARP Preferred

FLORENCE, S.C., Aug. 10, 2016 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), announces that it redeemed the final 4,349 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A ("Series A Preferred Stock") and 767 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series B ("Series B Preferred Stock") that were originally issued to the United States Department of the Treasury under the Troubled Asset Relief Program Capital Purchase Program ("TARP"). On May 31, 2016, the Company

Jul 12, 2016 04:14 pm ET

First Reliance Makes Partial Redemption of TARP Preferred

FLORENCE, S.C., July 12, 2016 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), announced that it redeemed another 7,000 shares of its 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"). On May 31, 2016, the Company redeemed 4,000 shares of its Series A Preferred Stock and announced that it has sent require

Jun 03, 2016 11:01 am ET

/C O R R E C T I O N -- First Reliance Bancshares, Inc./

In the news release, First Reliance Makes Partial Redemption of TARP Preferred And Notices Intent to Redeem All Remaining Shares Outstanding, issued Jun 3, 2016 by First Reliance Bancshares, Inc. over PR Newswire, we are advised by the company that the fourth paragraph, second sentence, should read "is expected to positively impact earnings per share on an annual basis by $0.21 per share, or approximately $977,000 additional net income to common stockholders" rather than "$0.16 per share, or approximately $733,000" as originally issued inadvertently. The complete, corrected release follows:

May 11, 2016 08:58 am ET

First Reliance reports 1Q16 Pre-tax Income of $820,221, up 53.1% from 1Q15

FLORENCE, S.C., May 11, 2016 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported first quarter 2016 pre-tax profits of $820,221. This is the 9th consecutive quarter of profitability which has been fueled by strong loan and deposit growth, and expanding operating efficiencies. In the first quarter of 2016, pre-tax income is up 53.1% over $535,733 in the first quarter a year ago. Net income totaled $514,138 for the quarter ended March 31, 2016, compared to $513,426 as of March 31, 2015. After preferr

Feb 22, 2016 07:09 am ET

First Reliance 4Q15 Pre-tax Income more than doubles to $944,100 from 4Q14

FLORENCE, S.C., Feb. 22, 2016 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company") for First Reliance Bank (the "Bank"), reported fourth quarter 2015 pre-tax profits of 944,100. This is the 8th consecutive quarter of profitability which has been fueled by strong loan and deposit growth, and expanding operating efficiencies. In the fourth quarter of 2015, pre-tax income more than doubles to $944,100 from $373,561 in the fourth quarter a year ago. Net income totaled $634,101 for the quarter ended December 31, 2015, compared to $243,736. After pref

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First Reliance Bancshares Inc (PK:FSRL)

Business Focus: Commercial Banks