First Reliance Bank boasts Florence's top market share

By: From local reports | SCNow
Published: November 23, 2009

First Reliance Bank recently captured the top spot in market share among Florence banks, including the so-called megabanks, at 22.07 percent, according to a First Reliance press release.

The bank’s president, CEO and co-founder Rick Saunders said First Reliance branches in Columbia, Lexington and Charleston are experiencing similar market share growth.

The bank, founded in Florence in 1999, also ranks 17th among South Carolina’s 107 banks, with total assets just under $700 million.

A recent customer survey confirming a 98 percent satisfaction rate among First Reliance customers, as well. Additionally, 93 percent of those polled said they would refer family members and friends to the bank.

First Reliance’s more than 145 employees contribute more than 800 volunteer hours of service annually to the community, and the bank itself donates 1.5 percent of its net income to charitable causes every year, Saunders said.

First Reliance Bank is traded as FSRL.OB. For more information, visit www.firstreliance.com.