Feature Article / Business Section / State News By Ben Werner, Business Writer
December 19, 2003 (Florence, SC) – Florence-based First Reliance Bank is moving into the Columbia market. The 4-year-old bank company broke ground Thursday in the town of Lexington, said Richard McIntyre, who has been hired as First Reliance’s Lexington market president. The bank received federal permission for its expansion a week ago.
“The success or failure of this expansion is critical to our long-term success,” said a statement released by Rick Saunders, president and chief executive officer of First Reliance.
McIntyre is a 22-year veteran of the Lexington market who started his career with C&S and the eventual merger with Bank of America. Since opening in 1999, First Reliance has quickly gained market share and deposits in Florence.
The company reported deposits of $120 million as of June 30, and 8.5 percent of the banking market when the Federal Deposit Insurance Corp. collects its annual market share information.
The company hopes to open the Lexington branch in the first half of 2004. It will be at the intersection of Northwood Road and Augusta Highway. McIntyre said the bank already is lining up clients and can make loans in the Columbia area.
For more Information: Van Rowell Rick Saunders Marketing President & CEO First Reliance Bank First Reliance Bank 2170 W. Palmetto St. 2170 W. Palmetto St. Florence, SC 29501 Florence, SC 29501 (843) 269-0264 (843) 656-5000 vrowell@firstreliance.com rsaunders@firstreliance.com
