First Reliance Bank
First Reliance Bank is headquartered in Florence and is the 18th largest bank in the state of South Carolina. It is also the 1,555th largest bank in the nation. It was established in 1999 and as of December of 2017, it had grown to 138 employees at 8 locations. First Reliance Bank has an A health rating.
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Small town banking
Banking with First Reliance was an overall frustrating experience. There fees were unreasonable and they were difficult to deal with when I needed to close a bank account after my divorce. I was charged a fee to buy checks and open a savings account. Charged monthly to use my debit card, and fees when online banking. Trying to get in touch with the bank was difficult. Dialing the local number I would get the 1800 number and not the back itself. That was annoying to me. Their tellers were kind but would never give a straightforward answer to certain questions when asked. When I ask about a fee I expect truthfulness. That's better than acting like you don't know. Over all it was annoying.
Data as of Q4 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35214 |
| Year Established | 1999 |
| Employees | 138 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.35% |
| Return on Equity - YTD | 3.3% |
| Annual Interest Income | $17.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2017vs Q4 2016 | $457.4MM$406.7MM |
| Loans | Q4 2017vs Q4 2016 | $339.1MM$290.8MM |
| Deposits | Q4 2017vs Q4 2016 | $370.9MM$338.7MM |
| Equity Capital | Q4 2017vs Q4 2016 | $46.6MM$45.1MM |
| Loan Loss Allowance | Q4 2017vs Q4 2016 | $2.5MM$2.7MM |
| Unbacked Noncurrent Loans | Q4 2017vs Q4 2016 | $1.4MM$2.6MM |
| Real Estate Owned | Q4 2017vs Q4 2016 | $2.2MM$2.9MM |
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