FIRST RELIANCE BANK ANNOUNCES NEW CREDIT TEAM LEADERSHIP

Bank Continues to Build New Leadership Team as Market Growth Continues

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.”