First Reliance Bk SC (FSRL) 4.0000 $FSRL
First Reliance Bancshares declares preferred stock and trust preferred securities dividends
M2 - Wed Jun 17, 3:45AM CDT
First Reliance Bancshares Inc (OTC:FSRL) revealed on Tuesday the return to cash dividend payments on its preferred stock originally issued to the US Treasury as part of the Troubled Asset Relief Program (TARP) and now held by private investors, besides, interest on its outstanding trust preferred securities.
First Reliance Bancshares, Inc. Announces Return to Payment of Dividends on Preferred Stock and Trust Preferred Securities
PR Newswire - Tue Jun 16, 5:00AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the parent holding company of First Reliance Bank, announced today the return to cash payment of dividends on the Company's preferred stock originally issued to the United States Treasury as part of the Troubled Asset Relief Program (TARP) and now held by private investors, and interest on the Company's outstanding trust preferred securities. The Company had been in deferral on these payments since November 2011.
First Reliance Announces Strong 1st Quarter Results
PR Newswire - Thu Apr 30, 5:30AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL) announced that it had net income of $513,427, for the quarter ended March 31, 2015. This compares to a net income of $346,357, for the quarter ended March 31, 2014. The increase in net income from March 31, 2014 to March 31, 2015 is primarily attributed to an increase in net interest income of $217,673, supported by no-cost/low-cost annual deposit growth of $10.3 million, and an increase in noninterest income of $142,481. The Company's operating results for the quarter were positively impacted by annual asset growth of $8.2 million, annual consumer loan growth of $5.4 million, and annual non performing asset reduction of $3.7 million.
First Reliance Announces Strong 3rd Quarter Results
PR Newswire - Mon Oct 27, 5:46AM CDT
First Reliance Bancshares, Inc (OTC: FSRL) announced that it had unaudited net income of $4,447,675, or $0.77 per diluted share, for the nine months ended September 30, 2014. This compares to unaudited net loss of $2,651,556, or $0.84 per diluted share, for the nine months ended September 30, 2013. The difference in net income between the two periods primarily relates to a tax benefit of $3.1 million derived from the recapture of a portion of the Company's deferred tax asset in the third quarter of 2014. The Company has a remaining DTA valuation allowance of $6,598,788 as of September 30, 2014. Net Income per share for the period ending September 30, 2014 is based on 4,648,535 diluted average shares compared to 4,202,251 diluted average shares for 2013. Income before income taxes increased 152.2% to $1,382,806 from a loss before income taxes of $2,651,556 for the nine months ended September 30, 2014 and 2013, respectively. The 2014 pretax operating results were influenced by growth in net interest income, reduced provision for loan losses, and reductions in noninterest expenses.
First Reliance Bancshares declares preferred stock and trust preferred securities dividends
M2 - Wed Jun 17, 3:45AM CDT
First Reliance Bancshares Inc (OTC:FSRL) revealed on Tuesday the return to cash dividend payments on its preferred stock originally issued to the US Treasury as part of the Troubled Asset Relief Program (TARP) and now held by private investors, besides, interest on its outstanding trust preferred securities.
First Reliance Bancshares, Inc. Announces Return to Payment of Dividends on Preferred Stock and Trust Preferred Securities
PR Newswire - Tue Jun 16, 5:00AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the parent holding company of First Reliance Bank, announced today the return to cash payment of dividends on the Company's preferred stock originally issued to the United States Treasury as part of the Troubled Asset Relief Program (TARP) and now held by private investors, and interest on the Company's outstanding trust preferred securities. The Company had been in deferral on these payments since November 2011.
First Reliance Announces Strong 1st Quarter Results
PR Newswire - Thu Apr 30, 5:30AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL) announced that it had net income of $513,427, for the quarter ended March 31, 2015. This compares to a net income of $346,357, for the quarter ended March 31, 2014. The increase in net income from March 31, 2014 to March 31, 2015 is primarily attributed to an increase in net interest income of $217,673, supported by no-cost/low-cost annual deposit growth of $10.3 million, and an increase in noninterest income of $142,481. The Company's operating results for the quarter were positively impacted by annual asset growth of $8.2 million, annual consumer loan growth of $5.4 million, and annual non performing asset reduction of $3.7 million.
First Reliance Announces Strong 3rd Quarter Results
PR Newswire - Mon Oct 27, 5:46AM CDT
First Reliance Bancshares, Inc (OTC: FSRL) announced that it had unaudited net income of $4,447,675, or $0.77 per diluted share, for the nine months ended September 30, 2014. This compares to unaudited net loss of $2,651,556, or $0.84 per diluted share, for the nine months ended September 30, 2013. The difference in net income between the two periods primarily relates to a tax benefit of $3.1 million derived from the recapture of a portion of the Company's deferred tax asset in the third quarter of 2014. The Company has a remaining DTA valuation allowance of $6,598,788 as of September 30, 2014. Net Income per share for the period ending September 30, 2014 is based on 4,648,535 diluted average shares compared to 4,202,251 diluted average shares for 2013. Income before income taxes increased 152.2% to $1,382,806 from a loss before income taxes of $2,651,556 for the nine months ended September 30, 2014 and 2013, respectively. The 2014 pretax operating results were influenced by growth in net interest income, reduced provision for loan losses, and reductions in noninterest expenses.
