First Reliance Bk SC (FSRL) 5.2200 $FSRL
First Reliance Makes Partial Redemption of TARP Preferred
PR Newswire - Tue Jul 12, 2:14PM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company"
for First Reliance Bank (the "Bank", announced that it redeemed another 7,000 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A ("Series A Preferred Stock" that were originally issued to the United States Department of the Treasury ("U.S. Treasury" under the Troubled Asset Relief Program Capital Purchase Program ("TARP". On May 31, 2016, the Company redeemed 4,000 shares of its Series A Preferred Stock and announced that it has sent required notice letters to holders informing them of its intent to redeem the remaining 11,349 shares of Series A Preferred Stock and 767 shares of Series B Preferred Stock, subject to receipt of requisite regulatory approval. The 7,000 share redemption announced today represents the next phase of the previously announced redemption plan. The Company expects to redeem the remaining 4,349 shares of Series A Preferred Stock and all outstanding shares of its Series B Preferred Stock during the third quarter of 2016. The redemption price was $1,000 per share, plus accrued and unpaid dividends. The total aggregate redemption price of the shares of Series A Preferred Stock redeemed today was $7.0 million, plus accrued but unpaid dividends. Today's redemption was funded with the proceeds of a new senior credit facility.
/C O R R E C T I O N -- First Reliance Bancshares, Inc./
PR Newswire - Fri Jun 03, 9:01AM CDT
In the news release, First Reliance Makes Partial Redemption of TARP Preferred And Notices Intent to Redeem All Remaining Shares Outstanding, issued Jun 3, 2016 by First Reliance Bancshares, Inc. over PR Newswire, we are advised by the company that the fourth paragraph, second sentence, should read "is expected to positively impact earnings per share on an annual basis by $0.21 per share, or approximately $977,000 additional net income to common stockholders" rather than "$0.16 per share, or approximately $733,000" as originally issued inadvertently. The complete, corrected release follows:
First Reliance Makes Partial Redemption of TARP Preferred And Notices Intent to Redeem All Remaining Shares Outstanding
PR Newswire - Fri Jun 03, 6:00AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company" for First Reliance Bank (the "Bank", announced that it made a partial redemption of 4,000 shares, or 26.1 % of its 15,349 shares of outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A ("Series A Preferred Stock" that were originally issued to the United States Department of the Treasury ("U.S. Treasury" under the Troubled Asset Relief Program Capital Purchase Program ("TARP". In March 2013, the U.S. Treasury sold all 15,349 shares of Series A Preferred Stock and Fixed Rate Cumulative Perpetual Preferred Stock, Series B ("Series B Preferred Stock" previously held by it to private investors. The redemption price for the shares of Series A Preferred Stock was $1,000 per share, plus accrued and unpaid dividends. The total aggregate redemption prices of the shares of Series A Preferred Stock was $4 million.
First Reliance reports 1Q16 Pre-tax Income of $820,221, up 53.1% from 1Q15
PR Newswire - Wed May 11, 6:58AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company" for First Reliance Bank (the "Bank", reported first quarter 2016 pre-tax profits of $820,221. This is the 9th consecutive quarter of profitability which has been fueled by strong loan and deposit growth, and expanding operating efficiencies. In the first quarter of 2016, pre-tax income is up 53.1% over $535,733 in the first quarter a year ago. Net income totaled $514,138 for the quarter ended March 31, 2016, compared to $513,426 as of March 31, 2015. After preferred dividends, first quarter 2016 net income available to common shareholders was $147,499, or $0.03 per diluted share, compared to $150,816, or $0.03 per diluted share, in the first quarter a year ago.
First Reliance 3Q15 Pre-tax Income more than Triples to $997,430 from 3Q14
PR Newswire - Fri Oct 30, 6:00AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company" for First Reliance Bank (the "Bank", reported third quarter 2015 pre-tax profits reached the highest levels since 2008, fueled by strong loan and deposit growth, and expanding operating efficiencies. In the third quarter of 2015, pre-tax income more than tripled to $997,430 from $234,117 in the third quarter a year ago. Net income totaled $670,574 for the quarter ended September 30, 2015, compared to $3.4 million, which includes a deferred tax asset recapture of $3.6 million for the third quarter of 2014. After preferred dividends, third quarter 2015 net income available to common shareholders was $307,964, or $0.07 per diluted share, compared to $3.1 million, or $0.66 per diluted share, in the third quarter a year ago.
First Reliance Announces Strong 2nd Quarter Results
PR Newswire - Fri Jul 31, 6:00AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL) announced that it had net income of $7.0 million for the quarter ended June 30, 2015. This compares to a net income of $372,331 for the quarter ended June 30, 2014. The increase in net income is largely attributed to a deferred tax asset recapture of $6.9 million. Additionally, the Company had one-time credit and mortgage charges of $585,000 during the quarter ended June 30, 2015. Net income for six months ended June 30, 2015 was $7.5 million. This compares to net income of $718,689 for the six months ended June 30, 2014. Operating results were positively impacted by asset growth of $13 million since December 31, 2014 through robust retail and correspondent mortgage production and continued consumer loan and 1-4 family mortgage originations.
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 Makes Partial Redemption of TARP Preferred
PR Newswire - Tue Jul 12, 2:14PM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company"
for First Reliance Bank (the "Bank", announced that it redeemed another 7,000 shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A ("Series A Preferred Stock" that were originally issued to the United States Department of the Treasury ("U.S. Treasury" under the Troubled Asset Relief Program Capital Purchase Program ("TARP". On May 31, 2016, the Company redeemed 4,000 shares of its Series A Preferred Stock and announced that it has sent required notice letters to holders informing them of its intent to redeem the remaining 11,349 shares of Series A Preferred Stock and 767 shares of Series B Preferred Stock, subject to receipt of requisite regulatory approval. The 7,000 share redemption announced today represents the next phase of the previously announced redemption plan. The Company expects to redeem the remaining 4,349 shares of Series A Preferred Stock and all outstanding shares of its Series B Preferred Stock during the third quarter of 2016. The redemption price was $1,000 per share, plus accrued and unpaid dividends. The total aggregate redemption price of the shares of Series A Preferred Stock redeemed today was $7.0 million, plus accrued but unpaid dividends. Today's redemption was funded with the proceeds of a new senior credit facility. /C O R R E C T I O N -- First Reliance Bancshares, Inc./
PR Newswire - Fri Jun 03, 9:01AM CDT
In the news release, First Reliance Makes Partial Redemption of TARP Preferred And Notices Intent to Redeem All Remaining Shares Outstanding, issued Jun 3, 2016 by First Reliance Bancshares, Inc. over PR Newswire, we are advised by the company that the fourth paragraph, second sentence, should read "is expected to positively impact earnings per share on an annual basis by $0.21 per share, or approximately $977,000 additional net income to common stockholders" rather than "$0.16 per share, or approximately $733,000" as originally issued inadvertently. The complete, corrected release follows:
First Reliance Makes Partial Redemption of TARP Preferred And Notices Intent to Redeem All Remaining Shares Outstanding
PR Newswire - Fri Jun 03, 6:00AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company"
for First Reliance Bank (the "Bank", announced that it made a partial redemption of 4,000 shares, or 26.1 % of its 15,349 shares of outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A ("Series A Preferred Stock" that were originally issued to the United States Department of the Treasury ("U.S. Treasury" under the Troubled Asset Relief Program Capital Purchase Program ("TARP". In March 2013, the U.S. Treasury sold all 15,349 shares of Series A Preferred Stock and Fixed Rate Cumulative Perpetual Preferred Stock, Series B ("Series B Preferred Stock" previously held by it to private investors. The redemption price for the shares of Series A Preferred Stock was $1,000 per share, plus accrued and unpaid dividends. The total aggregate redemption prices of the shares of Series A Preferred Stock was $4 million. First Reliance reports 1Q16 Pre-tax Income of $820,221, up 53.1% from 1Q15
PR Newswire - Wed May 11, 6:58AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company"
for First Reliance Bank (the "Bank", reported first quarter 2016 pre-tax profits of $820,221. This is the 9th consecutive quarter of profitability which has been fueled by strong loan and deposit growth, and expanding operating efficiencies. In the first quarter of 2016, pre-tax income is up 53.1% over $535,733 in the first quarter a year ago. Net income totaled $514,138 for the quarter ended March 31, 2016, compared to $513,426 as of March 31, 2015. After preferred dividends, first quarter 2016 net income available to common shareholders was $147,499, or $0.03 per diluted share, compared to $150,816, or $0.03 per diluted share, in the first quarter a year ago. First Reliance 3Q15 Pre-tax Income more than Triples to $997,430 from 3Q14
PR Newswire - Fri Oct 30, 6:00AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL), the holding company (the "Company"
for First Reliance Bank (the "Bank", reported third quarter 2015 pre-tax profits reached the highest levels since 2008, fueled by strong loan and deposit growth, and expanding operating efficiencies. In the third quarter of 2015, pre-tax income more than tripled to $997,430 from $234,117 in the third quarter a year ago. Net income totaled $670,574 for the quarter ended September 30, 2015, compared to $3.4 million, which includes a deferred tax asset recapture of $3.6 million for the third quarter of 2014. After preferred dividends, third quarter 2015 net income available to common shareholders was $307,964, or $0.07 per diluted share, compared to $3.1 million, or $0.66 per diluted share, in the third quarter a year ago. First Reliance Announces Strong 2nd Quarter Results
PR Newswire - Fri Jul 31, 6:00AM CDT
First Reliance Bancshares, Inc. (OTC: FSRL) announced that it had net income of $7.0 million for the quarter ended June 30, 2015. This compares to a net income of $372,331 for the quarter ended June 30, 2014. The increase in net income is largely attributed to a deferred tax asset recapture of $6.9 million. Additionally, the Company had one-time credit and mortgage charges of $585,000 during the quarter ended June 30, 2015. Net income for six months ended June 30, 2015 was $7.5 million. This compares to net income of $718,689 for the six months ended June 30, 2014. Operating results were positively impacted by asset growth of $13 million since December 31, 2014 through robust retail and correspondent mortgage production and continued consumer loan and 1-4 family mortgage originations.
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.
