March 29, 2023 - Florence, S.C. — Rick Redden has been named to the First Reliance Bank Board of Directors. Rick has extensive experience working with banks, public and private companies, non-profits, and higher educational institutions to establish or enhance strategic plans, navigate industry change, and accelerate execution. He has assisted clients with acquisitions, major investments, capital structure decisions, and succession strategies.

Rick Saunders, Chief Executive Officer of First Reliance Bank, shared, “When searching for a board member, I always look for talented professionals with similar values about life, leadership, and business success. I am fortunate to have known Rick for quite some time, and he certainly meets every standard to be found in a successful bank board member. I look forward to working closely with Rick as we pursue “changing lives” across the Carolinas.”

Prior to consulting, Rick served as Commercial Executive, State President, Division Chief Risk Officer, and Division President for a top U.S. bank. He was responsible for a $3 billion P&L, 2.5 million customers, 2,000+ branches/ATMs, and over 7,000 employees. In addition to leading several highly successful businesses, Rick has been instrumental in company-transforming initiatives, such as merger integration, customer segmentation, talent management, and business redesign efforts. Rick earned a B.S. in Business from Appalachian State University, an M.B.A. from Georgia Tech, and is a UNC-Chapel Hill Executive Leadership program graduate. He is an active community member and has served in roles with the Charleston Economic Leadership Council (Chair), Clemson University Board of Visitors, N.C. CEO Council, and the Kennedy Center National Symphony Orchestra.

About First Reliance

Founded in 1999, First Reliance Bancshares, Inc. (OTC: FSRL.OB) is based in Florence, South Carolina, and has assets of approximately $950 million. The Company employs more than 200 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. We offer a full range of personalized community banking products and services for individuals, small businesses, and corporations, including a full suite of digital banking services, treasury services, a Customer Service Guarantee, and a Mortgage Service Guarantee. First Reliance also offers two unique community customer 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. Additional information about the Company is available on our website, www.firstreliance.com.