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SmarTrend(R) News Watch: First Reliance Bancshares Posts 3Q Earnings

Oct 13, 2008 (SmarTrend(R) News Watch via COMTEX) --

Saturday, holding company First Reliance Bancshares, Inc. (OTC: FSRL) reported its third quarter net income rose 31% to $765,178, up from $584,877 in year-ago period. Income from net interest for the quarter increased to $4.9 million from $4.7 million in the same period last year. The gains account for earnings of 21 cents per share, compared to 17 cents per share last year. The company increased total assets 9% to $573.7 million. First Reliance rose 5 cents to close at $6.50 per share on Friday, October 10, 2008.

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