First Reliance Bank
- Company typePrivate
- Founded1999
- HeadquartersFlorence, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
First Reliance Bank firmographics
Firmographics- Name
- First Reliance Bank
- Legal name
- First Reliance Bancshares, Inc.
- Website
- https://firstreliance.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
First Reliance Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022), National Commercial Banks (6021)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industry
- Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
Keywords
Where First Reliance Bank is headquartered
LocationHeadquarters
- HQ city
- Florence
- HQ country
- United States
- HQ region
- North America
Offices10 records
Markets served
First Reliance Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Net Interest Income: Primary revenue driver through the interest rate spread between interest earned on loans and investment securities versus interest paid on deposits and borrowings. As a community bank with $1.1 billion in assets and approximately $780-801 million in total loans, net interest income represents the core earnings mechanism.
- Mortgage Banking Income: Revenue from mortgage origination and mortgage banking activities. The bank offers various mortgage products including conventional, FHA, USDA, VA loans, and generates income through origination fees and mortgage servicing.
- Deposit-Related Fees: Non-interest income from service fees on deposit accounts, debit card fees, and other account-related service charges. Q3 2025 deposit-related income totaled approximately $943 thousand per quarter.
- Commercial Banking Services: Revenue from commercial lending, business checking accounts, merchant services, treasury services, and other business banking products and services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Personal Checking Accounts - Multiple tiers available |
| Other | Monthly | Personal Savings Accounts - Including Money Market and CDs |
| Other | Monthly | Business Banking Products |
| Other | Other | Mortgage Products |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels6 records
First Reliance Bank product offering
Product offeringCore offering
First Reliance Bank is a community bank offering personal and business banking, consumer and commercial lending, and mortgage origination services. Core products include checking and savings accounts (including Money Market, CDs, and IRAs), personal and business credit cards, mortgage loans (Conventional, FHA, USDA, VA, Construction, Renovation, and specialty programs), commercial real estate loans and lines of credit, plus merchant and treasury services. Delivery is through 9 South Carolina branches complemented by an iOS/Android mobile app, online banking portal, and integrated financial tools for credit score monitoring, budgeting, and debt-to-income tracking.
Product overview
First Reliance Bank operates as a community bank offering a unified banking platform with integrated products across personal banking, business banking, mortgages, and digital services. The core offerings include personal and business checking/savings accounts, various loan products (consumer, commercial real estate, mortgages), and digital banking tools. The bank provides these services primarily through its network of South Carolina branches supplemented by online and mobile banking platforms. Key digital add-ons include the Mobile App, Credit Score Tool with debt-to-income module, and online mortgage application capabilities. The bank's products are interconnected through its digital banking ecosystem, allowing customers to manage accounts, access credit services, make payments, and monitor their financial health through multiple channels.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Banking Comprehensive personal banking services for individuals including checking accounts with debit cards, personal savings accounts (Money Market accounts, Certificates of Deposit, IRAs), and personal credit cards, with online and mobile banking access.
- Personal Borrowing Personal lending products including mortgages, Home Equity Lines of Credit (HELOC), and Auto/Recreational Vehicle loans, supported by digital application tools and online loan payment portals.
- Business Banking Full-service business banking with business checking accounts, business savings accounts, business CDs, business money market accounts, business credit cards, and online/mobile banking access for business customers.
- Business Borrowing Commercial lending solutions for small and medium businesses including lines of credit and commercial real estate loans, complemented by business loan checklist resources and digital loan payment capabilities.
- Business Services Additional business services including merchant services for payment processing, treasury services for cash management, and the FRB At Work employee banking program for businesses.
- Mortgages Comprehensive mortgage lending with multiple product options including Conventional Fixed Rate, FHA Loans, USDA Loans, VA Loans, First-Time Homebuyer Loans, Medical Professional Loans, Construction Loans, Real Estate Investor Loans, Refinance, Renovation Loans, and Self-Employed Loans.
- Mobile Banking App First Reliance Bank mobile application available for iOS and Android devices, enabling on-the-go account access, mobile deposit, transfers, and full account management.
- Credit Score Tool (My Credit Score) Credit score monitoring tool integrated with online and mobile banking, allowing customers to check their credit score without affecting their overall score, with additional features including Credit Goals, Action Plan, and a Debt-to-Income module.
- Merchant Services Payment processing services enabling business customers to accept card payments through merchant services solutions.
- Treasury Services Cash management and treasury services designed to help business customers optimize their financial operations.
- FRB At Work Employee banking program offered by First Reliance Bank to businesses for their workforce.
Quantifiable outcome
- 113% increase in Q1 2026 net income year-over-year ($3.4M vs $1.6M)
- +4 more outcomes
Companies that use First Reliance Bank
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
First Reliance Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature4 records
First Reliance Bank partnerships and signals
Strategic signalScale indicators14 records
Recent moves6 records
Expansion highlights6 records
First Reliance Bank competitors and assessment
Company assessmentDirect peers
- Bank of South Carolina Corporation: Direct community bank peer headquartered in Charleston, SC, serving small businesses and individuals with deposits, lending, and treasury services. Closely comparable in size, market focus, and product suite to First Reliance.
- Coastal Carolina Bancshares: Community bank operating in the Carolinas with consumer and commercial banking products. Comparable in scale, geographic footprint, and growth profile to First Reliance's pre-divestiture footprint.
- First Bancorp (North Carolina): North Carolina-headquartered community bank holding company with similar consumer/commercial banking model. Useful comparable for Southeast community bank economics, deposit mix, and NIM trends.
- HomeTrust Bancshares: Community-focused bank with residential mortgage and commercial banking operations across the Southeast. Comparable in size and customer mix, including a strong mortgage origination franchise similar to First Reliance's.
- Tidelands Bancshares: South Carolina community bank with personal and business banking services. Direct comparable in market, scale, and product mix.
Broad incumbents
- United Community Banks: Larger regional community bank operating across the Southeast with full banking services. Provides scale and competitive context for First Reliance's growth and M&A valuation.
- SouthState Bank (now SouthState Corporation / Trust Bank): Large Southeast regional bank headquartered in South Carolina. Demonstrates the trajectory and economics of a community bank that scaled within the state, a key reference for First Reliance's growth ceiling.
- Park National Corporation: Mid-sized community bank holding company with diversified consumer and commercial banking. Useful comparable for community bank profitability, NIM, and credit metrics.
- ServisFirst Bancshares: High-performing Southeast community bank with strong commercial banking focus. Comparable in business model and growth profile, providing a benchmark for community bank earnings power.
Emerging players
- Live Oak Bancshares: Technology-forward community bank specializing in small business lending. Provides a relevant benchmark for digital banking strategy and fintech partnerships relevant to First Reliance's Apiture/Jack Henry stack.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
First Reliance Bank social profiles
Digital presenceFirst Reliance Bank compliance and trust
Trust signalCompliance6 records
First Reliance Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Reliance Bank leadership team
Management profileNumber of profiles
Profiles12 records
First Reliance Bank subsidiaries and ownership
Company hierarchySubsidiaries1 record
First Reliance Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Reliance Bank M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Reliance Bank
What does First Reliance Bank do?
First Reliance Bank is a community bank offering personal and business banking, consumer and commercial lending, and mortgage origination services. Core products include checking and savings accounts (including Money Market, CDs, and IRAs), personal and business credit cards, mortgage loans (Conventional, FHA, USDA, VA, Construction, Renovation, and specialty programs), commercial real estate loans and lines of credit, plus merchant and treasury services. Delivery is through 9 South Carolina branches complemented by an iOS/Android mobile app, online banking portal, and integrated financial tools for credit score monitoring, budgeting, and debt-to-income tracking.
Is First Reliance Bank a public or private company?
First Reliance Bank is a private company. It is classified as public and is currently operating.
When was First Reliance Bank founded?
First Reliance Bank was founded in 1999. It employs 101 to 250 people.
Where is First Reliance Bank based?
First Reliance Bank is headquartered in Florence, United States, in the North America region.
How does First Reliance Bank make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are mortgage Banking Income, deposit-Related Fees and commercial Banking Services.
Who are First Reliance Bank's main competitors?
Direct peers on record are Bank of South Carolina Corporation, Coastal Carolina Bancshares, First Bancorp (North Carolina), HomeTrust Bancshares and Tidelands Bancshares. Broad incumbents are United Community Banks, SouthState Bank (now SouthState Corporation / Trust Bank), Park National Corporation and ServisFirst Bancshares. Live Oak Bancshares is listed as an emerging player.
Does First Reliance Bank have an API?
No public API is recorded for First Reliance Bank.
What industry is First Reliance Bank in?
First Reliance Bank's product category is Community Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor). Its NAICS code is 52211 and its SIC code is 6022.