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First Reliance Bank Partners with Florence One Schools to Bring Affordable Housing to Eligible Teachers

March 26, 2020, Florence, S.C. — First Reliance Bank is offering $100,000 in affordable housing grants to eligible teachers and educators who work for Florence One Schools.  Up to 13 $7,500 awards will be granted during the program time frame through the Hometown Heroes program to assist in the revitalization and stabilization of local communities with a primary focus on encouraging home purchases by teachers.


“First Reliance Bank has access to funds for the Hometown Heroes program through grants from the Federal Home Loan Bank of Atlanta’s Affordable Housing Program,” said Rick Saunders, president and CEO of First Reliance Bank. “Teachers are the fabric of our community and contribute to the education of our future leaders.  We think it’s important for our community bank to provide support and help educators with home ownership.”  


“This partnership allows us to attract and recruit teachers to Florence One Schools,” said Dr. Richard O’Malley, Superintendent, Florence One Schools. “We’re excited to be able to offer these grant proceeds to eligible teachers.”

Eligibility of applicants is based on annual income, a $1,000 contribution towards down payment from the Fund applicant, specific Fund participation requirements determined by Florence One Schools and primary mortgage financing eligibility requirements by First Reliance Bank.  The agreement begins March 16, 2020 and terminates on the first anniversary, March 16, 2021. All applications must be submitted by September 13, 2020 as the Final Application Date.


ABOUT FIRST RELIANCE BANK

Founded in 1999, First Reliance Bancshares, Inc. (OTC: FSRL.OB), is based in Florence, South Carolina and has assets of approximately $658 million.  The Company employs more than 140 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.  Customers of the company have given it a 90% customer satisfaction rating well above the bank industry average of 81%. First Reliance is also one of three companies throughout South Carolina to receive the Best Places To Work in South Carolina award all 14 years since the program began.  We believe that this recognition confirms that our associates are engaged and committed to our brand and the communities we serve.  In addition to offering a full range of personalized community banking products and services for individuals, small businesses, and corporations, First Reliance offers two unique community-customers 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.  We also offer a full suite of digital banking services, a Customer Service Guaranty, a Mortgage Service Guaranty, and are open on most traditional holidays.

Additional information about the Company is available on the Company’s web site at www.firstreliance.com