First Reliance Bank announces new credit team leadership

Bank Continues to Build New Leadership Team as Market Growth Continues

January 13, 2021, Florence, S.C. — 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.

Moore and McElveen have nearly twenty years’ experience working together, initially at a Columbia-based community bank and later at First Reliance Bank. McElveen spoke to the tenured relationship, saying, “Brook and I first formed a professional relationship almost two decades ago when we worked on a senior management team together. I am excited and pleased to have the opportunity to hand-select him as the next chief credit officer at First Reliance Bank. I have high confidence in his ability to move the company to the next level.”

Bringing in Moore is the latest move by CEO Rick Saunders to strengthen a leadership team that brings depth and insight to a growing community bank.

Moore joined First Reliance Bank earlier this year from Southern First Bank where he was a senior credit executive. He brings over 25 years of experience to the position from across the banking industry. Having started his career in commercial banking, he has served in leadership positions in the Carolinas including market president, commercial banking executive, and chief lending officer.

“Brook’s promotion builds upon strategic efforts to further advance First Reliance Bank across the Carolinas,” said Rick Saunders, CEO of First Reliance Bank. “Having such strong leadership in our credit division is critical to maintaining the tremendous growth we are having.”

These changes are the latest step in a broader holistic effort to position the bank for transformational growth.

As it continues to attract industry-proven leadership, develop technological advancements and expand into new markets, the bank expects to see corresponding growth in income and other areas in fiscal 2021.

First Reliance Bancshares, Inc. (OTC: FSRL), the holding company for First Reliance Bank, reported record net income and earnings in the 3rd Quarter 2020. “Our record performance this last year is based upon conservative fiscal strategy and a continued commitment to our customers,” Saunders added. “We will work to provide more offerings to our customers through unmatched customer service and across new markets. This is our recipe for success and growth across both South and North Carolina.”

ABOUT FIRST RELIANCE BANK

Founded in 1999, First Reliance Bancshares, Inc. (OTC: FSRL.OB), is based in Florence, South Carolina and has assets of approximately $785 million. The Company employs more than 170 professionals and has locations throughout South Carolina and central North Carolina. First Reliance has redefined community banking with a commitment to making customers lives better, its founding principle. Customers of the company have given it a 93% customer satisfaction rating well above the bank industry average of 81%. First Reliance is also one of three companies throughout South Carolina to receive the Best Places To Work in South Carolina award all 14 years since the program began. We believe that this recognition confirms that our associates are engaged and committed to our brand and the communities we serve. In addition to offering a full range of personalized community banking products and services for individuals, small businesses, and corporations, First Reliance offers two unique community-customers programs, which include: Hometown Heroes, a package of benefits for those serving our communities and Check N Save, an outreach program for the unbanked or under-banked. We also offer a full suite of digital banking services, a Customer Service Guaranty, a Mortgage Service Guaranty, and are open on most traditional holidays.

Additional information about the Company is available on the Company’s web site at www.firstreliance.com.

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