F.R. “Rick” Saunders Jr., President and CEO of First Reliance Bank in Florence, has joined the Board of Directors of Business Development Corporation (BDC).

In 1999, with 19 years of banking experience, Saunders founded First Reliance Bank, which has since grown to nearly $671 million in assets. First Reliance has 150 associates with branches in Florence, West Columbia, Lexington, Mount Pleasant, Charleston, Greenville, Taylors, Simpsonville and Myrtle Beach in South Carolina. The bank also has a branch in Winston-Salem, N.C., and a loan production office in Mooresville, N.C.

The bank has a robust mortgage operation and specializes in serving middle-income households and small businesses. First Reliance has received multiple awards as a “Best Places to Work” and for its commitment to community banking. The staff donates more than 1,500 hours of volunteer service annually and the bank donates approximately 1% of its net income to charity every year.

Saunders, who ...