first reliance bank lexington sc

Headquartered in Florence, First Reliance Bank also spans the Columbia, Lexington, Mount Pleasant and Charleston regions of South Carolina. Its trademarks are. How much do First Reliance Bank employees make? Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. First Reliance Bank, Lexington, SC. 46 likes · 1 talking about this · 116 were here. Financial Service.

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Free Photos with Santa (and Christmas Village) at First Reliance Bank in Florence, SC

First reliance bank lexington sc -

First Reliance Bancshares Inc (SuthCrln)

About First Reliance Bancshares Inc (SuthCrln)

First Reliance Bancshares, Inc. is the bank holding company for its subsidiary, First Reliance Bank (the Bank). The principal business activity of the Bank is to provide banking services to domestic markets, principally in Florence, Lexington, and Charleston Counties in South Carolina. The Bank is a South Carolina chartered commercial bank, and its deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The Bank offers various services, such as personal banking, business banking, mortgage and dealer services. The Bank offers various loans, such as real estate loans, commercial and industrial loans, and consumer and other loans. Its real estate loans include construction loans, residential loans and nonresidential loans. The Bank's deposits include noninterest-bearing transaction accounts, interest-bearing transaction accounts, savings and other time deposits.

Executive Leadership

Leonard A. Hoogenboom

Independent Chairman of the Board

F. R. Saunders

President, Chief Executive Officer, Director

Jeffrey A. Paolucci

Chief Financial Officer, Executive Vice President, Director, IR Contact Officer

Jesse A. Nance

Executive Vice President and Chief Credit Officer

Paul C. Saunders

Senior Vice President, Assistant Secretary, Director

Key Stats

1.50 mean rating - 2 analysts

Revenue (MM, USD)
EPS (USD)

Price To Earnings (TTM)

14.68

Price To Sales (TTM)

1.20

Price To Book (MRQ)

1.21

Price To Cash Flow (TTM)

--

Total Debt To Equity (MRQ)

45.68

LT Debt To Equity (MRQ)

36.65

Return on Investment (TTM)

--

Return on Equity (TTM)

--
Источник: https://www.reuters.com/companies/FSRL.PK
Bank Logo

lexington north lake dr branch is a branch office of First Reliance Bank. They provide the following services: Full Service Office Location and are located at 801 N Lake Dr in Lexington South Carolina.
Mobile and traditional directions to this location can be found below along with ratings, online banking website and additional banking information.

Branch Directions:

Branch Address:lexington north lake dr branch
801 N Lake Dr
Lexington, South Carolina 29072

Bank's Headquarters:

2170 West Palmetto Street
Florence, South Carolina 29501

Established:

Mon Aug, 1999

Became FDIC Insured:

Thu Jan, 1970

The following banks are also located in South Carolina and are a part of First Reliance Bank

SECOND LOOP BRANCH - First Reliance BankAddress: 411 Second Loop Road, South Carolina

GREENVILLE DOWNTOWN BRANCH - First Reliance BankAddress: 500 East Washington Street, South Carolina

MOUNT PLEASANT BRANCH - First Reliance BankAddress: 800 South Shelmore Boulevard, South Carolina

WADE HAMPTON BRANCH - First Reliance BankAddress: 2801b Wade Hampton Boulevard, South Carolina

SIMPSONVILLE BRANCH - First Reliance BankAddress: 150 Highway 14, South Carolina

SUNSET BLVD, WEST COLUMBIA BRANCH - First Reliance BankAddress: 2805 A Sunset Blvd, South Carolina

MYRTLE BEACH BRACH - First Reliance BankAddress: 507 21st Avenue North, South Carolina

Downtown Columbia Branch - First Reliance BankAddress: 1901 Main Street, South Carolina

First Reliance Bank - First Reliance BankAddress: 2170 West Palmetto Street, South Carolina

Ameris BankAddress: 701 West Main Street, South Carolina

Ameris BankAddress: 701 West Main Street, South Carolina

Arthur State BankAddress: 5051 Sunset Boulevard, South Carolina

Bank OZKAddress: 119 West Center Street, North Carolina

Bank of America, National AssociationAddress: 5559 Sunset Blvd, South Carolina

First Community BankAddress: 1449 Two Notch Road, South Carolina

First Community BankAddress: 5455 Sunset Boulevard, South Carolina

First National Bank of PennsylvaniaAddress: 6123 Old U.S. Highway 52, North Carolina

First National Bank of PennsylvaniaAddress: 4481 South Nc Hwy 150, North Carolina

First National Bank of PennsylvaniaAddress: 500 South Main Street, North Carolina

First National Bank of PennsylvaniaAddress: 38 West First Avenue, North Carolina

First National Bank of PennsylvaniaAddress: 298 Lowes Boulevard, North Carolina

First Palmetto BankAddress: 5321 Sunset Boulevard, South Carolina

First-Citizens Bank & Trust CompanyAddress: 728 West Main Street, South Carolina

First-Citizens Bank & Trust CompanyAddress: 5561 Sunset Boulevard, South Carolina

HomeTrust BankAddress: 107 West Center Street, North Carolina

Pinnacle BankAddress: 115 E Center St, North Carolina

Pinnacle BankAddress: 6355 Old Us Hwy 52, North Carolina

Security Federal BankAddress: 5446 Sunset Boulevard, South Carolina

SouthState Bank, National AssociationAddress: 5109 Sunset Boulevard, South Carolina

Synovus BankAddress: 5456 Sunset Boulevard, South Carolina

TD Bank, National AssociationAddress: 575 Columbia Avenue, South Carolina

TD Bank, National AssociationAddress: 4320 Sunset Blvd, South Carolina

The Fidelity BankAddress: 114 West Second Avenue, North Carolina

Truist BankAddress: 309 Columbia Avenue, South Carolina

Truist BankAddress: 106 North State Street, North Carolina

Truist BankAddress: 1120 South Lake Drive, South Carolina

Truist BankAddress: 6287 Old Us Hwy 52, North Carolina

Truist BankAddress: 209 North Main Street, North Carolina

United Community BankAddress: 5346 Sunset Blvd, South Carolina

Wells Fargo Bank, National AssociationAddress: 200 Columbia Avenue, South Carolina

Wells Fargo Bank, National AssociationAddress: 100 South State Street, North Carolina

Wells Fargo Bank, National AssociationAddress: 5490 Sunset Boulevard, South Carolina

Woodforest National BankAddress: 160 Lowes Blvd., North Carolina

Woodforest National BankAddress: 5556 Sunset Blvd, South Carolina

Источник: https://findthisbank.com/first-reliance-bank-locations-in-lexington-sc-branch-35214-430213

History of the United States dollar

Overview of the history of the United States dollar

The history of the United States dollar began with moves by the Founding Fathers of the United States of America to establish a national currency based on the Spanish silver dollar, which had been in use in the North American colonies of the United Kingdom for over 100 years prior to the United States Declaration of Independence. The new Congress's Coinage Act of 1792 established the United States dollar as the country's standard unit of money, creating the United States Mint tasked with producing and circulating coinage. Initially defined under a bimetallic standard in terms of a fixed quantity of silver or gold, it formally adopted the gold standard in 1900, and finally eliminated all links to gold in 1971.

Since the founding of the Federal Reserve System in 1913 as the central bank of the United States, the dollar has been primarily issued in the form of Federal Reserve Notes. The United States dollar is the world's primary reserve currency held by governments worldwide for use in international trade.

Origins: the Spanish dollar[edit]

The United States Mint commenced production of the United States dollar in 1792 as a local version of the popular Spanish dollar or piece of eight produced in Spanish America and widely circulated throughout the Americas from the 16th to the 19th centuries. Made with similar silver content to its counterparts minted in Mexico and Peru, the Spanish, U.S. and Mexican silver dollars all circulated side by side in the United States, and the Spanish dollar and Mexican peso remained legal tender until the Coinage Act of 1857.

Continental Currency[edit]

After the American Revolutionary War began in 1775, the Continental Congress began issuing paper money known as Continental currency, or Continentals. Continental currency was denominated in dollars from $1⁄6 to $80, including many odd denominations in between. During the Revolution, Congress issued $241,552,780 in Continental currency.[1] By the end of 1778, this Continental currency retained only between 1⁄5 to 1⁄7 of its original face value. By 1780, Continental bills – or Continentals – were worth just 1⁄40 of their face value. Congress tried to reform the currency by removing the old bills from circulation and issuing new ones, but this met with little-to-no success. By May 1781, Continentals had become so worthless they ceased to circulate as money. Benjamin Franklin noted that the depreciation of the currency had, in effect, acted as a tax to pay for the war.[2] In the 1790s, after the ratification of the United States Constitution, Continentals could be exchanged for treasury bonds at 1% of face value.[1]

Congress appointed Robert Morris to be Superintendent of Finance of the United States following the collapse of the Continental currency. In 1782, Morris advocated the creation of the first financial institution chartered by the United States. The Bank of North America was funded in part by bullion coin, loaned to the United States by France. Morris helped finance the final stages of the war by issuing promissory notes in his name, backed by his own money. The Bank of North America also issued notes convertible into gold or silver.[3]

Runaway inflation and the collapse of the Continental currency prompted delegates at the Constitutional Convention in Philadelphia in 1787 to include the gold and silver clause in the United States Constitution, preventing individual States from issuing their own bills of credit. Article One states they were prohibited to "make any Thing but gold and silver Coin a Tender in Payment of Debts."[4] Some people use this clause to argue that federal paper money is unconstitutional, though very few constitutional scholars hold that position.[5][6]

Coinage Act of 1792[edit]

On July 6, 1785, the Continental Congress of the United States authorized the issuance of a new currency, the US dollar.[7] The word dollar is derived from Low Saxon cognate of the High GermanThaler; the term had already been in common usage since the colonial period when it referred to eight-real coin (Spanish dollar) or the "Spanish milled dollar" issued by the Spanish from New Spain and used throughout the rest of the Americas. The Spanish dollar was the most commonly circulated and readily available currency used by common Americans and was valued for its high silver content.

Subsequently, the American administration of President George Washington turned its attention to monetary issues again in the early 1790s, under the leadership of Alexander Hamilton, the Secretary of the Treasury at the time. Congress acted on Hamilton's recommendations, with the Coinage Act of 1792 that established the dollar as the basic unit of account for the United States.

The United States Mint was created by Congress following the passing of the Coinage Act..[8] It was primarily tasked with producing and circulating coinage. The first Mint building was in Philadelphia, then the capital of the United States. The Mint was originally placed within the Department of State, until the Coinage Act of 1873 when it became part of the Department of the Treasury (in 1981 it was placed under the auspices of the Treasurer of the United States). The Mint had the authority to convert any precious metals into standard coinage for anyone's account with no seigniorage charge beyond refining costs.

19th century[edit]

A 1795 Flowing Hair Dollar
2 dollars, first November 1862

In the early 19th century, the intrinsic value of gold coins rose relative to their nominal equivalent in silver coins, resulting in the removal from commerce of nearly all gold coins, and their subsequent private melting. Therefore, in the Coinage Act of 1834, the 15:1 ratio of silver to gold was changed to a 16:1 ratio by reducing the weight of the nation's gold coinage. This created a new U.S. dollar that was backed by 1.50 grams (23.22 grains) of gold. However, the previous dollar had been represented by 1.60 g (24.75 grains) of gold. The result of this revaluation, which was the first devaluation of the U.S. dollar, was that the value in gold of the dollar was reduced by 6%. Moreover, for a time, both gold and silver coins were useful in commerce.

In 1853, the weights of U.S. silver coins (except the dollar itself, which was rarely used) were reduced. This had the effect of placing the nation effectively (although not officially) on the gold standard. The retained weight in the dollar coin was a nod to bimetallism, although it had the effect of further driving the silver dollar coin from commerce. Foreign coins, including the Spanish dollar, were also widely used[9] as legal tender, until 1857.

With the enactment of the National Banking Act of 1863—during the American Civil War—and its later versions that taxed states' bonds and currency out of existence, the dollar became the sole currency of the United States and remains so today.

During the 19th century the dollar was less accepted around the world than the British pound. Nellie Bly carried Bank of England notes on her 1889–1890 trip around the world in 72 days; she also brought some dollars, Bly wrote, "to use at different ports as a test to see if American money was known outside of America". Traveling east from New York, she did not see American money until she found $20 gold pieces used as jewelry in Colombo; there Bly found that as currency dollars were accepted at a 60% discount.[10]

In 1878, the Bland–Allison Act was enacted to provide for freer coinage of silver. This act required the government to purchase between $2 million and $4 million worth of silver bullion each month at market prices and to coin it into silver dollars. This was, in effect, a subsidy for politically influential silver producers.

The discovery of large silver deposits in the Western United States in the late 19th century created a political controversy. Due to the large influx of silver, the intrinsic value of the silver in the nation's coinage dropped precipitously. On one side were agrarian interests such as the Greenback Party that wanted to retain the bimetallic standard in order to inflate the dollar, which would allow farmers to more easily repay their debts. On the other side were Eastern banking and commercial interests, who advocated sound money and a switch to the gold standard. This issue split the Democratic Party in 1896. It led to the famous Cross of Gold speech given by William Jennings Bryan, and may have inspired many of the themes in The Wizard of Oz. Despite the controversy, the status of silver was slowly diminished through a series of legislative changes from 1873 to 1900, when a gold standard was formally adopted. The gold standard survived, with several modifications, until 1971.

Gold standard[edit]

Main article: Gold standard

Note: all references to 'ounce' in this section are to the troy ounce as used for precious metals, rather than to the (smaller) avoirdupois ounce used in the United States customary units system for other goods.

A gold-standard 1928 one-dollar bill. It is identified as a "United States Note" rather than a Federal Reserve noteand by the words "Will Pay to the Bearer on Demand", which do not appear on today's currency. This clause became obsolete in 1933 but remained on new notes for 30 years thereafter.

Bimetallism persisted until March 14, 1900, with the passage of the Gold Standard Act,[11] which provided that:

... the dollar consisting of twenty-five and eight-tenths grains of gold nine-tenths fine, as established by section thirty-five hundred and eleven of the Revised Statutes of the United States, shall be the standard unit of value, and all forms of money issued or coined by the United States shall be maintained at a parity of value with this standard ...

Thus the United States moved to a gold standard, making both gold and silver the legal-tender coinage of the United States, and guaranteed the dollar as convertible to 25.8 grains (1.672 grams, 0.05375 troy ounces) of gold, or a little over $18.60 per ounce.

The gold standard was suspended twice during World War I, once fully and then for foreign exchange. At the onset of the war, U.S. corporations had large debts payable to European entities who began liquidating their debts in gold. With debts to Europe falling due, the dollar to (British) pound sterling exchange rate reached as high as $6.75:£1,[when?] far above the nominal (gold) parity of 4.8665:1. This caused large gold outflows until July 31, 1914, when the New York Stock Exchange closed and the gold standard was temporarily suspended. In order to defend the exchange rate of the dollar, the US Treasury Department authorized state and nationally chartered banks to issue emergency currency under the Aldrich-Vreeland Act, and the newly created Federal Reserve organized a fund to assure debts to foreign creditors. These efforts were largely successful, and the Aldrich-Vreeland notes were retired starting in November and the gold standard was restored when the New York Stock Exchange re-opened in December 1914.[12]

For as long as the United States remained neutral in the war, it remained the only country to maintain its gold standard, doing so without restriction on import or export of gold from 1915 to 1917. When the United States became a belligerent in the war, President Wilson banned gold export, thereby suspending the gold standard for foreign exchange. After the war, European countries slowly returned to their gold standards, though in somewhat altered form.[12][13]

During the Great Depression, every major currency abandoned the gold standard. Among the earliest, the Bank of England abandoned the gold standard in 1931 as speculators demanded gold in exchange for currency notes or in settlement of debts, threatening the solvency of the British monetary system. This pattern repeated throughout Europe and North America. In the United States, the Federal Reserve was forced to raise interest rates in order to protect the gold standard for the US dollar, worsening already severe domestic economic pressures. After bank runs became more pronounced in early 1933, people began to hoard gold coins as distrust for banks led to distrust for paper money, worsening deflation and depleting gold reserves.[12][13]

The Gold Reserve Act[edit]

In early 1933, in order to fight severe deflation, Congress and President Roosevelt implemented a series of Acts of Congress and Executive Orders which suspended the gold standard except for foreign exchange, revoked gold as universal legal tender for debts, and banned private ownership of significant amounts of gold coin. These acts included Executive Order 6073, the Emergency Banking Act, Executive Order 6102, Executive Order 6111, the Agricultural Adjustment Act, 1933 Banking Act, the gold clause resolution, and later the Gold Reserve Act.[12] These actions were upheld by the U.S. Supreme Court in the "Gold Clause Cases" in 1935.[14]

For foreign exchange purposes, the set $20.67 per ounce value of the dollar was lifted,[when?] allowing the dollar to float freely in foreign exchange markets with no set value in gold. This was terminated after one year. Roosevelt attempted first to restabilize falling prices with the Agricultural Adjustment Act; however, this did not prove popular, so instead the next politically popular option was to devalue the dollar on foreign exchange markets. Under the Gold Reserve Act the price of gold was fixed at $35 per ounce, making the dollar more attractive for foreign buyers (and making foreign currencies more expensive for those holding dollars). This change led to more conversion of gold into dollars, allowing the U.S. to effectively corner the world gold market.[15][16]

The suspension of the gold standard was considered temporary by many in markets and in the government at the time, but restoring the standard was considered a low priority to dealing with other issues.[12][15]

Under the post-World War IIBretton Woods system, all other currencies were valued in terms of U.S. dollars and were thus indirectly linked to the gold standard. The need for the U.S. government to maintain both a $35 per troy ounce (112.53 cents/gram) market price of gold and also the conversion to foreign currencies caused economic and trade pressures. By the early 1960s, compensation for these pressures started to become too complicated to manage.

In March 1968, the effort to control the private market price of gold was abandoned. A two-tier system began. In this system all central-bank transactions in gold were insulated from the free market price. Central banks would trade gold among themselves at $35/ounce (112.53 ¢/g) but would not trade with the private market. The private market could trade at the equilibrium market price and there would be no official intervention. The price immediately jumped to $43/ounce (138.25 ¢/g). The price of gold touched briefly back at $35/ounce (112.53 ¢/g) near the end of 1969 before beginning a steady price increase. This gold price increase turned steep through 1972 and hit a high that year of over $70/ounce (2.25 $/g). By that time floating exchange rates had also begun to emerge, which indicated the de facto dissolution of the Bretton Woods system. The two-tier system was abandoned in November 1973. By then the price of gold had reached $100/ounce (3.22 $/g).

In the early 1970s, inflation caused by rising prices for imported commodities, especially oil, and spending on the Vietnam War that was not counteracted by cuts in other government expenditures, combined with a trade deficit to create a situation in which the dollar was worth less than the gold used to back it.[clarification needed]

In 1971, President Richard Nixon unilaterally ordered the cancellation of the direct convertibility of the United States dollar to gold. This act was known as the Nixon Shock.

U.S. dollar value vs. gold value[edit]

The sudden jump in the price of gold after the demise of the Bretton Woods accords was a result of the significant prior debasement of the US dollar due to excessive inflation of the monetary supply via central bank (Federal Reserve) coordinated fractional reserve banking under the Bretton Woods partial gold standard. In the absence of an international mechanism tying the dollar to gold via fixed exchange rates, the dollar became a pure fiat currency and as such fell to its free market exchange price versus gold. Consequently, the price of gold rose from $35/ounce (1.125 $/g) in 1969 to almost $500 (29 $/g) in 1980.

Shortly after the dollar price of gold started its ascent in the early 1970s, the price of other commodities such as oil also began to rise. While commodity prices became more volatile, the average price of oil as expressed in gold (or vice versa) remained much the same in the 1990s as it had been in the 1960s, 1970s and 1980s.

Fearing the emergence of a gold-based economy separate from central banking, and with the corresponding threat of the collapse of the U.S. dollar, the U.S. government approved several changes to the trading on the COMEX. These changes resulted in a steep decline in the traded price of precious metals from the early 1980s onward.

Note Issuance[edit]

Silver certificates[edit]

"Five Silver Dollars" of Series 1923

United States silver certificates were a type of representative money printed from 1878 to 1964 in the United States as part of its circulation of paper currency.[17] They were produced in response to silver agitation by citizens who were angered by the Fourth Coinage Act, and were used alongside the gold-based dollar notes. The silver certificates were initially redeemable in the same face value of silverdollar coins, and later in raw silver bullion.

Since the early 1920s, silver certificates were issued in $1, $5, and $10 denominations. In the 1928 series, only $1 silver certificates were produced. Fives and tens of this time were mainly Federal Reserve notes, which were backed by and redeemable in gold. In 1933, Congress passed the Agricultural Adjustment Act which included a clause allowing for the pumping of silver into the market to replace the gold. A new 1933 series of $10 silver certificate was printed and released, but not many were released into circulation.

In 1934, a law was passed in Congress that changed the obligation on Silver Certificates so as to denote the current location of the silver.

The last government regulation regarding the silver standard was in 1963, when President John F. Kennedy issued Executive Order 11110, delegating to the Treasury Secretary his authority to authorize the US Department of Treasury to issue silver certificates for any silver held by the U.S. Government in excess of that not already backing issued certificates. This was necessary because of Kennedy's signing of Public Law 88-36 on the same day, one of the effects of which was a repeal of the Silver Purchase Act of 1934-this act had authorized the Treasury Secretary to purchase silver bullion and issue silver certificates against it. Silver certificates continued to be issued for a short period of time in the $1 denomination, but were discontinued in late 1963.

United States Notes[edit]

Main article: United States Note

$5 United States Note of Series 1963.
$100 United States Note of Series 1966.

A United States Note, also known as a Legal Tender Note, was a type of paper money that was issued from 1862 to 1971 in the U.S. Having been current for over 100 years, they were issued for longer than any other form of U.S. paper money. They were known popularly as "greenbacks" in their day, a name inherited from the Demand Notes that they replaced in 1862.

While issuance of United States Notes ended in January 1971, existing United States Notes are still valid currency in the United States today, though rarely seen in circulation.

Both United States Notes and Federal Reserve Notes are parts of the national currency of the United States, and both have been legal tender since the gold recall of 1933. Both have been used in circulation as money in the same way. However, the issuing authority for them came from different statutes.[18] United States Notes were created as fiat currency, in that the government has never categorically guaranteed to redeem them for precious metal - even though at times, such as after the specie resumption of 1879, federal officials were authorized to do so if requested.

The difference between a United States Note and a Federal Reserve Note is that a United States Note represented a "bill of credit" and was inserted by the Treasury directly into circulation free of interest. Federal Reserve Notes are backed by debt purchased by the Federal Reserve, and thus generate seigniorage for the Federal Reserve System, which serves as a lending intermediary between the Treasury and the public.

Federal Reserve Notes[edit]

See also: Federal Reserve Note

Congress continued to issue paper money after the Civil War, the most important of which was the Federal Reserve Note that was authorized by the Federal Reserve Act of 1913. Since the discontinuation of all other types of notes (Gold Certificates in 1933, Silver Certificates in 1963, and United States Notes in 1971), US dollar notes have since been issued exclusively as Federal Reserve Notes.

Use as international reserve currency[edit]

History[edit]

First small-sized $1 bill which was issued in 1928 as a silver certificate

World War II devastated European and Asian economies while leaving the United States' economy relatively unharmed.[19] As European governments exhausted their gold reserves and borrowed to pay the United States for war material, the United States accumulated large gold reserves. This combination gave the United States significant political and economic power following the war.[20]

The Bretton Woods agreement codified this economic dominance of the dollar after the war. In 1944, Allied nations sought to create an international monetary order that sustained the global economy and prevented the economic malaise that followed the First World War. The Bretton Woods agreement laid the foundations for an international monetary order that created rules and expectations for the international economic system. It created the International Monetary Fund (IMF), the predecessor of the World Bank, and an international monetary system based on fixed exchange rates. It valued the dollar at $35 per ounce of gold and the remaining signatories pegged their respective currency relative to the dollar, leading some economists to argue that Bretton Woods "dethroned"[21] gold as the default asset.[22]

While Bretton Woods institutionalized the dollar's importance following the war, Europe and Asia faced dollar shortages. The international community needed dollars to finance imports from the United States to rebuild what was lost in the war.[23] In 1948 Congress passed the European Recovery Program - generally known as the Marshall Plan – giving dollars to European countries to purchase imports needed to rebuild their economies. The plan helped European countries by providing them dollars to purchase the imports needed to produce exports, eventually allowing the countries to export enough of their own goods to obtain the dollars necessary to sustain their economies without reliance on any Marshall-like plan. At the same time, Joseph Dodge worked with Japanese officials and Congress to pass the Dodge Plan in 1949, which worked similarly to the Marshall Plan, but for Japan rather than Europe.[22]

The Marshall and Dodge plans' successes have brought new challenges to the U.S. dollar. In 1959, dollars in circulation around the world exceeded U.S. gold reserves, which became vulnerable to the equivalent of a bank run. In 1960, Yale economist Robert Triffin described the problem to Congress: either the dollar was not freely available and other countries could not afford to import American goods, or the dollar was freely available but confidence that the dollar could be converted to gold would wane.

Eventually, the United States chose to devalue the dollar. During the early 1960s American officials largely prevented the conversion of dollars to gold with a series of "gentlemanly" agreements and other policies – which included the London Gold Pool - but these actions were not sustainable; the danger of a run on U.S. gold reserves was too high. With Nixon's election in 1968, American officials became increasingly concerned until Nixon finally issued Executive Order 11615 in August 1971, ending the direct convertibility of dollars to gold. He said, "We must protect the position of the American dollar as pillar of monetary stability around the world ... I am determined that the American dollar must never again be hostage in the hands of the international speculators." This became known as the Nixon Shock and marked the dollar's transition from the gold standard to a fiat currency.

Impact[edit]

The United States enjoys some benefits because the dollar serves as the international reserve currency. The United States is less likely to face a balance of payments crisis.

Fiat standard[edit]

Today, like the currency of most nations, the dollar is fiat money, unbacked by any physical asset. A holder of a federal reserve note has no right to demand an asset such as gold or silver from the government in exchange for a note.[27] Consequently, some proponents of the intrinsic theory of value believe that the near-zero marginal cost of production of the current fiat dollar detracts from its attractiveness as a medium of exchange and store of value because a fiat currency without a marginal cost of production is easier to debase via overproduction and the subsequent inflation of the money supply.

In 1963, the words "PAYABLE TO THE BEARER ON DEMAND" were removed from all newly issued Federal Reserve notes. Then, in 1968, redemption of pre-1963 Federal Reserve notes for gold or silver officially ended. The Coinage Act of 1965 removed all silver from quarters and dimes, which were 90% silver prior to the act. However, there was a provision in the act allowing some coins to contain a 40% silver consistency, such as the Kennedy Half Dollar. Later, even this provision was removed, with the last circulating silver-content halves minted in 1969. All coins previously minted in silver for general circulation are now clad. During 1982, the composition of the cent was changed from copper to zinc with a thin copper coating. The content of the nickel has not changed since 1866 (except for 1942-1945 when silver and other metals were used to preserve nickel for war uses).[28] Silver and gold coins are produced by the U.S. government, but only as non-circulating commemorative pieces or in sets for collectors.

All circulating notes, issued from 1861 to present, will be honored by the government at face value as legal tender. This means that the federal government will accept old notes as payments for debts owed to the federal government (taxes and fees), or exchange old notes for new ones, but will not redeem notes for gold or silver, even if the note states that it may be thus redeemed. Some bills may have a premium to collectors.[citation needed]

The only exception to this rule is the $10,000 gold certificate of Series 1900, a number of which were inadvertently released to the public because of a fire in 1935. This set is not considered to be "in circulation" and, in fact, is stolen property. However, the government canceled these banknotes and removed them from official records. Their value, relevant only to collectors, is approximately one thousand US dollars.[29]

According to the Federal Reserve Bank of New York, there is $1.2 trillion in total US currency in worldwide circulation as of July 2013.[30]

Color and design[edit]

U.S. Federal Reserve notes in the mid-1990s

The federal government began issuing paper currency during the American Civil War. As photographic technology of the day could not reproduce color, it was decided the back of the bills would be printed in a color other than black. Because the color green was seen as a symbol of stability, it was selected. These were known as "greenbacks" for their color and started a tradition of the United States' printing the back of its money in green. The author of that invention was chemist Christopher Der-Seropian.[31] In contrast to the currency notes of many other countries, Federal Reserve notes of varying denominations are the same colors: predominantly black ink with green highlights on the front, and predominantly green ink on the back. Federal Reserve notes were printed in the same colors for most of the 20th century, although older bills called "silver certificates" had a blue seal and serial numbers on the front, and "United States notes" had a red seal and serial numbers on the front.

In 1928, sizing of the bills was standardized (involving a 25% reduction in their current sizes, compared to the older, larger notes nicknamed "horse blankets").[32] The Secretary of the Treasury directed a reduction in paper currency from a 7+7⁄16 inch by 3+9⁄64 inch size to a 6+5⁄16 inch by 2+11⁄16 inch (6.31' x 2.69') size, which allowed the Treasury Department to produce 12 notes per 16+1⁄4 inch by 13+1⁄4 inch sheet of paper that previously would yield 8 notes at the old size.[33] Modern U.S. currency, regardless of denomination, is 2.61 inches (66.3 mm) wide, 6.14 inches (156 mm) long, and 0.0043 inches (0.109 mm) thick. A single bill weighs about fifteen and a half grains (one gram) and costs approximately 4.2 cents for the Bureau of Engraving and Printing to produce.

Microprinting and security threads were introduced in the 1991 currency series.

Another series started in 1996 with the $100 note, adding the following changes:

  • A larger portrait, moved off-center to create more space to incorporate a watermark.
  • The watermark to the right of the portrait depicting the same historical figure as the portrait. The watermark can be seen only when held up to the light (and had long been a standard feature of all other major currencies).
  • A security thread that will glow pink when exposed to ultraviolet light in a dark environment.[34] The thread is in a unique position on each denomination.
  • Color-shifting ink that changes from green to black when viewed from different angles. This feature appears in the numeral on the lower right-hand corner of the bill front.
  • Microprinting in the numeral in the note's lower left-hand corner and on Benjamin Franklin's coat.
  • Concentric fine-line printing in the background of the portrait and on the back of the note. This type of printing is difficult to copy well.
  • The value of the currency written in 14pt Arial font on the back for those with sight disabilities.
  • Other features for machine authentication and processing of the currency.

Annual releases of the 1996 series followed. The $50 note followed on June 12, 1997, and introduced a large dark numeral with a light background on the back of the note to make it easier for people to identify the denomination.[35] The $20 note in 1998 introduced a new machine-readable capability to assist scanning devices. The security thread glows green under ultraviolet light, and "USA TWENTY" and a flag are printed on the thread, while the numeral "20" is printed within the star field of the flag. The microprinting is in the lower left ornamentation of the portrait and in the lower left corner of the note front. As of 1998[update], the $20 note was the most frequently counterfeited note in the United States. The new design of the $5 and $10 notes were released in 2000.

May 13, 2003, The Treasury announced that it would introduce new colors into the $20 bill, the first U.S. currency since 1905 (not counting the 1934 gold certificates) to have colors other than green or black. The move was intended primarily to reduce counterfeiting, rather than to increase visual differentiation between denominations. The main colors of all denominations, including the new $20 and $50, remain green and black; the other colors are present only in subtle shades in secondary design elements. This contrasts with notes of the euro, Australian dollar, and most other currencies, where strong colors are used to distinguish each denomination from the other.

The new $20 bills entered circulation on October 9, 2003 and the new $50 bills on September 28, 2004. The new $10 notes were introduced in 2006 and redesigned $5 bills began to circulate March 13, 2008. Each will have subtle elements of different colors, though will continue to be primarily green and black. The Treasury said it will update Federal Reserve notes every 7 to 10 years to keep up with counterfeiting technology. In addition, there have been rumors that future banknotes will use embedded RFID microchips as another anti-counterfeiting tool.[36]

The 2008 $5 bill contains significant new security updates. The obverse side of the bill includes patterned yellow printing that will cue digital image-processing software to prevent digital copying, watermarks, digital security thread, and extensive microprinting. The reverse side includes an oversized purple number 5 to provide easy differentiation from other denominations.[37]

On April 21, 2010, the U.S. Government announced a heavily redesigned $100 bill that featured bolder colors, color shifting ink, microlenses, and other features. It was scheduled to start circulating on February 10, 2011, but was delayed due to the discovery of sporadic creasing on the notes and "mashing" (when there is too much ink on the paper, the artwork on the notes are not clearly seen). The redesigned $100 bill was released October 8, 2013.[38] It costs 11.8 cents to produce each bill.[39]

"The soundness of a nation's currency is essential to the soundness of its economy. And to uphold our currency's soundness, it must be recognized and honored as legal tender and counterfeiting must be effectively thwarted," Federal Reserve Chairman Alan Greenspan said at a ceremony unveiling the $20 bill's new design. Prior to its current design, the most recent redesign of the U.S. dollar bill was in 1996.

As a result of a 2008 decision in an accessibility lawsuit filed by the American Council of the Blind, the Bureau of Engraving and Printing is planning to implement a raised tactile feature in the next redesign of each note, except the $1 and the current version of the $100 bill. It also plans larger, higher-contrast numerals, more color differences, and distribution of currency readers to assist the visually impaired during the transition period.[40] In 2016, the Treasury announced a number of design changes to the $5, $10 and $20 bills; to be introduced in this next redesign. The redesigns include:[41][42]

  • The back of the $5 bill will be changed to showcase historical events at the pictured Lincoln Memorial by adding portraits of Marian Anderson (due to her famous performance there after being barred from Constitution Hall due to her race), Martin Luther King Jr.'s (due to his famous I Have A Dream speech), and Eleanor Roosevelt (who arranged Anderson's performance).
  • The back of the $10 bill will be changed to show a 1913 march for women's suffrage in the United States, plus portraits of Sojourner Truth, Lucretia Mott, Susan B. Anthony, Alice Paul, and Elizabeth Cady Stanton.
  • On the $20 bill, Andrew Jackson will move to the back (reduced in size, alongside the White House) and Harriet Tubman will appear on the front.

See also[edit]

References[edit]

  1. ^ abNewman, Eric P. (1990). The Early Paper Money of America. Iola, WI: Krause Publications. pp. 17, 49. ISBN .
  2. ^Wright, Robert E. (2008). One Nation Under Debt: Hamilton, Jefferson, and the History of What We Owe. New York: McGraw-Hill. p. 49. ISBN .
  3. ^Wright, p.62.
  4. ^U.S. Constitution, Article One, section 10.
  5. ^U.S. Constitution, Article I, section 8.
  6. ^Rozeff, Michael (2014-08-18). The U.S. Constitution and Money: Corruption and Decline(PDF). Archived from the original(PDF) on January 17, 2013.
  7. ^Fitzpatrick, John C., ed. (1934). "TUESDAY, AUGUST 8, 1786". Journals of the Continental Congress 1774-1789. XXXI: 1786: 503–505. Retrieved December 5, 2019.
  8. ^"Independence, Colonial and Continental Currency: A New Nation's Currency". San Francisco, CA: Federal Reserve Bank of San Francisco.
  9. ^Rothbard, Murray N. (20 July 2005). The Mystery of Banking(PDF). Ludwig von Mises Institute. p. 10. ISBN .
  10. ^Bly, Nellie (1890). "Chapters I,IX". Around the World in Seventy-Two Days. The Pictorial Weeklies Company.
  11. ^"Gold Standard Act of 1900". The Statutes at large of the United States of America. Washington: Government Printing Office. 1901. pp. 45–50.
  12. ^ abcdeCrabbe, Leland (June 1989). "The International Gold Standard and U.S. monetary policy from World War I to the New Deal". Federal Reserve Bulletin.
  13. ^ abBernanke, Ben (March 2, 2004). "Remarks by Governor Ben S. Bernanke: Money, Gold and the Great Depression". At the H. Parker Willis Lecture in Economic Policy, Washington and Lee University, Lexington, Virginia.
  14. ^"Gold Clause Cases". Retrieved 2008-07-03.
  15. ^ abMeltzer, Allan H. (2004). A History of the Federal Reserve: 1913-1951. University of Chicago Press. pp. 442–446. ISBN .
  16. ^Investopedia.com. "The Gold Standard Revisited". Retrieved 2008-07-03.
  17. ^"United States Paper Money Information". USPaperMoney.Info. Retrieved 2014-12-14.
  18. ^"FAQs: Legal Tender Status". U.S. Treasury. January 4, 2011. Retrieved 2014-12-16.
  19. ^Tassava, Christopher. "The American Economy during World War II". Economic History Association.
  20. ^Rockoff, Hugh (1998). The economics of World War II. New York: Cambridge University press. p. 117. ISBN .
  21. ^Meier, Gerald (1974). Problems of a World Monetary Order. New York: Oxford University Press. p. 38. ISBN .
  22. ^ abEichengreen, Barry (2011). Exorbitant Privilege; The Rise and Fall of the Dollar. New York: Oxford University press. pp. 44–49. ISBN .
  23. ^Mayer, Martin (February 1981). The Fate of the Dollar. New York: Signet. p. 4. ISBN .
  24. ^Kotlikoff, Laurence (2006). "Is the United States Bankrupt?"(PDF). Federal Reserve Bank of St. Louis.
  25. ^Bowers, Q. David (2007). A Guide Book of Buffalo and Jefferson Nickels. Atlanta, Ga.: Whitman Publishing. ISBN 978-0-7948-2008-4.
  26. ^"Friedberg 1225 - the Series 1900 $10,000 | PMG".
  27. ^"How Currency Gets into Circulation". Federal Reserve Bank of New York. July 2013. Retrieved 2016-05-23.
  28. ^"Armenian Studies for Secondary Students"(PDF). School of Education University of Connecticut. 1974.
  29. ^Cruikshank, Moses (March 1, 1986). The Life I've Been Living. Fairbanks: University of Alaska Press. p. 93. ISBN .
  30. ^Treasury Department Appropriation Bill, 1929. U.S. Government Printing Office. 1928. p. 105.
  31. ^"Security Features of $100 Note Issued 1996 to 2013"(PDF). uscurrency.gov. U.S. Currency Education Program. Retrieved 13 July 2020.
  32. ^"Remarks of U.S. Treasurer Mary Ellen Withrow — Preview of the New $50 Bill". US Treasury. June 12, 1997. Retrieved 2014-12-16.
  33. ^"Cache Point". Snopes.com. May 19, 2011. Retrieved 2014-12-16.
  34. ^"Note of Caution". American City Business Journals. February 16, 2008. Retrieved 2014-12-16.
  35. ^"U.S. Government Unveils New Design for the $100 Note". uscurrency.gov (Press release). U.S. Currency Education Program. April 21, 2010. Retrieved 13 July 2020.
  36. ^Martinez, Alejandro J. (April 21, 2010). "Money Makeover: $100 Bill Gets Facelift to Fight Fakes". The Wall Street Journal.
  37. ^See Federal Reserve Note for details and references
  38. ^Calmes, Jackie (April 20, 2016). "Harriet Tubman Ousts Andrew Jackson in Change for a $20". The New York Times.
  39. ^"Anti-slavery activist Harriet Tubman to replace Jackson on $20 bill". USA Today. Retrieved April 21, 2016.

External links[edit]

Источник: https://en.wikipedia.org/wiki/History_of_the_United_States_dollar

First Reliance Bancshares, Inc. Announces Completion of Merger With Independence Bancshares, Inc.

FLORENCE, S.C., Jan. 23, 2018 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC Pink:  FSRL) ("First Reliance") today announced that it completed the acquisition of Greenville, South Carolina-based Independence Bancshares, Inc. (OTCQB:  IEBS) ("Independence") effective January 23, 2018.  Independence's bank subsidiary, Independence National Bank, was merged with First Reliance's bank subsidiary, First Reliance Bank, with First Reliance Bank continuing as the surviving bank.  The full conversion of the Independence National Bank systems is expected to be completed by March 5, 2018.

First Reliance Bancshares

The acquisition of Independence National Bank expands First Reliance's presence in the dynamic Greenville, South Carolina market and is an integral part of the bank's broader strategy to expand its footprint in top-tier markets throughout North and South Carolina.  The acquisition gives the existing First Reliance team in Greenville additional resources to expand its presence in the market, and provides further momentum in executing the bank's targeted expansion strategy.  First Reliance is a strong partner in all of the communities it serves, and is excited to expand its role in the Greenville community.

"This is a transaction about a true local community bank acquiring one of the finest banking franchises remaining in Greenville, South Carolina.  We are thrilled to welcome all the associates at Independence to the First Reliance team.  As we work through the integration, our commitment to our customers will remain the same -- to continue to deliver a superior community banking model of strong relationships and incredible service.  We are passionate about our mission to make the lives of our customers better and look forward to sharing our passion and values with the Greenville customers who value the loyal relationship they have with the Independence National Bank team," said Rick Saunders, President and CEO.

The closing of this transaction comes on the heels of several new significant developments for First Reliance over the past six months, including:  raising $25.1 million of additional capital in September 2017;Jack McElveen joining the bank in September 2017 as Chief Credit Officer;Kemper Kenan joining the bank as City Executive for Greenville, South Carolina in late 2017;David Barksdale joining the bank as President of North Carolina in early 2018;Ben Brazell being named as President of South Carolina in early 2018; and Ron Paige joining the bank as City Executive for Myrtle Beach, South Carolina in early 2018.

The combined Company is expected to have approximately $550 million in assets, $370 million in gross loans, $440 million in deposits, 11 banking offices in South Carolina, including a branch in Myrtle Beach, South Carolina expected to open in February 2018, and a loan production office in Winston Salem, North Carolina.

Hovde Group LLC, with lead banker Michael P. Corso, assisted First Reliance in its recent $25.1 million capital raise, as well as, the acquisition of Independence.

About First Reliance Bancshares, Inc.

First Reliance Bancshares, Inc. is the holding company for First Reliance Bank, a South Carolina-chartered bank.  The bank was founded in 1999, employs approximately 168 associates and serves the Columbia, Lexington, Charleston, Mount Pleasant, Summerville, Loris, North Myrtle Beach, and Florence markets in South Carolina and the Triad North Carolina market from its loan production office in Winston-Salem.  First Reliance Bank offers several unique customer programs which include a Hometown Heroes package of benefits for those who are serving our communities, Check 'N Save, a community outreach program for the unbanked or under-banked, a Moms First program, and an iMatter program targeted to young people. The bank also offers a Customer Service Guaranty, a Mortgage Service Guaranty, FREE Coin Machines for customers to use, Mobile Banking, Mobile mortgage applications, and is open on most traditional bank holidays.  Its commitment to making customers' lives better and the idea that "There's More to Banking Than Money" has earned the Bank a customer satisfaction rating of 95%.  The common stock of First Reliance Bancshares, Inc. is traded under the symbol FSRL.OB.  Additional information about the Company is available on the Company's web site at www.firstreliance.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by, followed by, or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control).  Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized.  The inclusion of this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved.  All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.  The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

Member FDIC

For more information:
Jeffrey A. Paolucci
Executive Vice President and Chief Financial Officer
(843) 543-5510
[email protected]

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/first-reliance-bancshares-inc-announces-completion-of-merger-with-independence-bancshares-inc-300586434.html

SOURCE First Reliance Bancshares, Inc.

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US Bank Routing Numbers


What is the Routing Number?

A routing number is a nine-digit numeric code printed on the bottom of checks that is used to facilitate the electronic routing of funds (ACH transfer) from one bank account to another. It's also referred to as RTN, Routing Transit number or Bank Routing Number.

What is FedACH?

FedACH:Federal Reserve Banks Automated Clearing House.
The FedACH offers financial institutions, corporations, and consumers an efficient alternative payment method to writing, collecting, and processing paper checks.

What is Fedwire?

Fedwire Funds Service is the real-time gross settlement electronic payments service operated by the Federal Reserve Bank. The Fedwire Securities Service is a real-time gross settlement book-entry securities service owned and operated by the Federal Reserve Bank. Fedwire allows for the immediate, simultaneous delivery of securities against payment. Fedwire participants are primarily depository institutions acting on behalf of themselves and their customers.
Источник: https://www.bankslookup.com/routing-number/SC/FLORENCE/FIRST-RELIANCE-BANK

David Renaker has joined First Reliance Bank as a Relationship Banker in Lexington. In his new role, Renaker will be responsible for building and maintaining relationships with business customers and offering advice on everything from personal and business deposit accounts to loans, treasury management services and investments available through First Reliance Wealth Strategies.

Bringing over 31 years of banking experience to the team, Renaker is a seasoned commercial banker adept at cultivating partnerships and building lasting relationships with clients, referral sources and coworkers. During his tenure, Renaker has served in key commercial banking roles at several financial institutions, including as Commercial Banking Business Development Officer at CresCom Bank and Commercial Banking Business Development Officer at Coastal States Bank. In addition to obtaining a Bachelor of Science degree from the University of South Carolina, Renaker has also graduated from Farr Institute’s Management and Leadership Program and the South Carolina Bankers School.

“We are pleased to have David join our team in Lexington,” said Rick Saunders, President and Chief Executive Officer of First Reliance Bank. “He has a tremendous amount of banking knowledge and leadership abilities that will be instrumental when partnering with his customers to accommodate their financial needs.”

Renaker is active in the community and currently serves as Diplomat and Member of the Greater Irmo Chamber of Commerce. Additionally, he serves on the Social Committee of the Columbia Rotary Club and the Finance Committee of Union United Methodist Church. He has served on numerous local boards, including those of the Hilton Head/Bluffton and Greensboro, NC Chamber of Commerce, the United Way of Beaufort County, and Junior Achievement of Hilton Head.

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.

###


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Источник: https://sodacitybizwire.com/david-renaker-joins-first-reliance-bank-as-relationship-banker
first reliance bank lexington sc

David Renaker has joined First Reliance Bank as a Relationship Banker in Lexington. In his new role, Renaker will be responsible for building and maintaining relationships with business customers and offering advice on everything from personal and business deposit accounts to loans, treasury management services and investments available through First Reliance Wealth Strategies.

Bringing over 31 years of banking experience to the team, Renaker is pirates of the caribbean at worlds end davy jones death seasoned commercial banker adept at cultivating partnerships and building lasting relationships with clients, referral sources and coworkers. During his tenure, Renaker has served in key commercial banking roles at several financial institutions, including as Commercial Banking Business Development Officer at CresCom Bank and Commercial Banking Business Development Officer at Coastal States Bank. In addition to obtaining a Bachelor of Science degree from the University of South Carolina, Renaker has also graduated from Farr Institute’s Management and Leadership Program and the South Carolina Bankers School.

“We are pleased to have David join our team in Lexington,” said Rick Saunders, President and Chief Executive Officer of First Reliance Bank. “He has a tremendous amount of banking knowledge and leadership abilities that will be instrumental when partnering with his customers to accommodate their financial needs.”

Renaker is active in the community and currently serves as Diplomat and Member of the Greater Irmo Chamber of Commerce. Additionally, he serves on the Social Committee of the Columbia Rotary Club and the Finance Committee of Union United Methodist Church. He has served on numerous local boards, including those of the Hilton Head/Bluffton and Greensboro, NC Chamber of Commerce, the United Way of Beaufort County, and Junior Achievement of Hilton Head.

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 first reliance bank lexington sc Company’s web site at www.firstreliance.com.

###


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Источник: https://sodacitybizwire.com/david-renaker-joins-first-reliance-bank-as-relationship-banker

285 Doe Trail Dr, Lexington, SC 29073

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285 Doe Trail DriveLexingtonSC29073

Full Property Details

Full Property Details for 285 Doe Trail Dr

General

  • Price: $165,000
  • Status: Active
  • Type: Mobile Home
  • MLS ID: 530785
  • Updated: Today (11/29/2021)
  • Added: Today

Interior

  • Fireplace: Yes
  • Number of Fireplaces: 1
  • Fireplace(s): Masonry
  • Appliances: Dishwasher, Microwave Countertop
  • Flooring: Carpet, Laminate, Tile

Rooms

Bathrooms

  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Main - Full Baths: 2

Bedrooms

  • Total Bedrooms: 3
  • Master Bedroom: Double Vanity, Tub-Garden, Bath-Private, Separate Shower, Closet-Walk in, Built-ins, Main
  • Bedroom 2: Closet-Walk in, Ceiling Fan
  • Bedroom 3: Closet-Walk in, Ceiling Fan

Other Rooms

  • Kitchen: Island, Counter Tops-Formica, Floors-Laminate, Backsplash-Tiled

Additional Information

  • Amenities: Warranty (Home 12-month)

Exterior

  • Exterior Features: Workshop, Back Porch - Covered, Back Porch - Screened

Parking

  • Garage Description: Carport Attached

Location

  • Area: Rural S Lexington Co - Gaston et
  • County: Lexington
  • Subdivision: DEER MOSS

School Information

  • School District: Lexington One
  • Elementary School: Forts Pond
  • Middle School: Pelion
  • High School: Pelion

Heating & Cooling

  • Cooling Type: Central
  • Heating Type: Central

Utilities

  • Sewer: Public
  • Water: Public

Structural Information

  • Architectural Style: Ranch
  • Foundation: Crawl Space
  • Square Feet: 2,052
  • Heated/Cooled: 2,052 Sq. Ft.

Lot Features

  • Lot Size (Acres): 0.62
  • Street/Road Desc.: Paved
  • Fencing (Description): Chain Link, Partial

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Price & Sales History for 285 Doe Trail DrGet Price Alerts and Save Property

11/29/2021

Listed

$165,000

103.7%

MLS

8/28/2020

Sold

$81,000

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Tax History for 285 Doe Trail Dr

2013

$105

$760

Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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285 Doe Trail Drive, Lexington, SC 29073 (MLS# 530785) is a Mobile Home property with 3 bedrooms and 2 full bathrooms. 285 Doe Trail Drive is currently listed for $165,000 and was received on November 29, 2021. Want to learn more about 285 Doe Trail Drive? Do you have questions about finding other Mobile Home real estate for sale in Lexington? You can browse all Lexington real estate or contact a Coldwell Banker agent to request more information.

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Источник: https://www.coldwellbankerhomes.com/sc/lexington/285-doe-trail-dr/pid_44664807/

US Bank Routing Numbers


What is www 53 com car payments Routing Number?

A routing number is a nine-digit numeric code printed on the bottom of checks that is used to facilitate the electronic routing of funds (ACH transfer) from one bank account to another. It's also referred to as RTN, Routing Transit number or Bank Routing Number.

What is FedACH?

FedACH:Federal Reserve Banks Automated Clearing House.
The FedACH offers financial institutions, corporations, and consumers an efficient alternative payment method to writing, collecting, and processing paper checks.

What is Fedwire?

Fedwire Funds Service is the real-time gross settlement electronic payments service operated by the Federal Reserve Bank. The Fedwire Securities Service is a real-time gross settlement book-entry securities service owned and operated by the Federal Reserve Bank. Fedwire allows for the immediate, simultaneous delivery of securities against payment. Fedwire participants are primarily depository institutions acting on behalf of themselves and their customers.
Источник: https://www.bankslookup.com/routing-number/SC/FLORENCE/FIRST-RELIANCE-BANK

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Источник: https://www.firstreliance.com/

First Reliance Bank in Florence, South Carolina (SC)
Overview, Financial Summary, Detailed Financial Reports, Branches

076181First Reliance Bank2170 West Palmetto Street, Florence, SC 29501August 16, 1999Full Service Brick and Mortar1364430Second Loop Branch411 Second Loop Road, Florence, SC 29501May 07, 2001Full Service Brick and Mortar2430213Lexington North Lake Dr Branch709 N Lake Dr, Lexington, SC 29072June 17, 2004Full Service Brick and Mortar3440188Lexington/Richland Messenger Service709 North Lake Drive, Lexington, SC 29072June 21, 2004Limited Service Messenger4442569Charleston Peninsula Branch25 Cumberland Street, Charleston, Current bank login 29401March 15, 2005Full Service Brick and Mortar5446256Florence Messenger Service2170 West Palmetto Street, Florence, SC 29501June 04, first reliance bank lexington sc Service Messenger6451738Mount Pleasant Branch800 South Shelmore Boulevard, Mount Pleasant, SC 29464October 03, 2005Full Service Brick and Mortar7451739Charleston County Messenger Service25 Cumberland Street, Charleston, SC 29401March 15, 2005Limited Service Messenger8451740Mount Pleasant Messenger Service800 South Shelmore Boulevard, Mount Pleasant, SC 29464March 15, 2005Limited Service Messenger11493148Sunset Blvd, West Columbia Branch2805 A Sunset Blvd, West Columbia, SC 29169June 01, 2009Full Service Brick and Mortar12499498Messenger Service2805-A Sunset Boulevard, West Columbia, SC 29169June 01, 2009Limited Service Messenger
Источник: http://www.bankencyclopedia.com/First-Reliance-Bank-35214-Florence-South-Carolina.html

First Reliance Bancshares, Inc. Announces Completion of Merger With Independence Bancshares, Inc.

FLORENCE, S.C., Jan. 23, 2018 /PRNewswire/ -- First Reliance Bancshares, Inc. (OTC Pink:  FSRL) ("First Reliance") today announced that it completed the acquisition of Greenville, South Carolina-based Independence Bancshares, Inc. (OTCQB:  IEBS) ("Independence") effective January 23, 2018.  Independence's bank subsidiary, Independence National Bank, walmart near me customer service phone number merged with First Reliance's bank subsidiary, First Reliance Bank, with First Reliance Bank continuing as the surviving bank.  The full conversion of the Independence National Bank systems is expected to be completed by March 5, 2018.

First Reliance Bancshares

The acquisition of Independence National Bank expands First Reliance's presence in the dynamic Greenville, South Carolina market and is first reliance bank lexington sc integral part of the bank's broader strategy to expand its footprint in top-tier markets throughout North and South Carolina.  The acquisition gives the existing First Reliance team in Greenville additional resources to expand its presence in the market, and provides further momentum in executing the bank's targeted expansion strategy.  First Reliance is a strong partner in all of the communities it serves, and is excited to expand its role in the Greenville community.

"This is a transaction about a true local community bank acquiring one of the finest banking franchises remaining in Greenville, South Carolina.  We are thrilled to welcome all the associates at Independence to the First Reliance team.  As we work through the integration, our commitment to our customers will remain the same -- to continue to deliver a superior community banking model of strong relationships and incredible service.  We are passionate about our mission to make the lives of our customers better and look forward to sharing our passion first reliance bank lexington sc values with the Greenville customers who value the loyal relationship they have with the Independence National Bank team," said Rick Saunders, President and CEO.

The closing of this transaction comes on the heels of several new significant developments for First Reliance over the past six months, including:  raising $25.1 million of additional capital in September 2017;Jack McElveen joining the bank in September 2017 as Chief Credit Officer;Kemper Kenan joining the bank as City Executive for Greenville, South Carolina in late 2017;David Barksdale joining the bank as President of North Carolina in early 2018;Ben Brazell being named as President of South Carolina in early 2018; and Ron Paige joining the bank as City Executive for Myrtle Beach, South Carolina in early 2018.

The combined Company is expected to have approximately $550 million in assets, $370 million in gross loans, $440 million in deposits, 11 banking offices in South Carolina, including a branch in Myrtle Beach, South Carolina expected to open in February 2018, and a loan production office in Winston Salem, North Carolina.

Hovde Group LLC, with lead banker Michael P. Corso, assisted First Reliance in its recent $25.1 million capital raise, as well as, the acquisition of Independence.

About First Reliance Bancshares, Inc.

First Reliance Bancshares, Inc. is the holding company for First Reliance Bank, a South Carolina-chartered bank.  The bank was founded in 1999, employs approximately 168 associates and serves the Columbia, Lexington, Charleston, Mount Pleasant, Summerville, Loris, North Myrtle Beach, and Florence markets in South Carolina and the Triad North Carolina market from its loan production bank vibe number in Winston-Salem.  First Reliance Bank offers several unique customer programs which include a Hometown Heroes package of benefits for those who are serving our communities, Check 'N Save, a community outreach program for the unbanked or under-banked, a Moms First program, and an iMatter program targeted to young people. The bank also offers a Customer Service Guaranty, a Mortgage Service Guaranty, FREE Coin Machines for customers to use, Mobile Banking, Mobile mortgage applications, and is open on most traditional bank holidays.  Its commitment to making customers' lives better and the idea that "There's More to Banking Than Money" has earned the Bank a customer satisfaction rating of 95%.  The common stock of First Reliance Bancshares, Inc. is traded under the symbol FSRL.OB.  Additional information about the Company is available on the Company's web site at www.firstreliance.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements preceded by, followed by, or that include the words "may," "could," "should," "would," "believe," "anticipate," "estimate," "expect," "intend," "plan," "projects," "outlook" or similar expressions. These statements are based upon the current belief and expectations of the Company's management team and are subject to significant risks and uncertainties that are subject to first reliance bank lexington sc based on various factors (many of which are first reliance bank lexington sc the Company's control).  Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized.  The inclusion glenview state bank review this forward-looking information should not be construed as a representation by the Company or any person that the future events, plans, or expectations contemplated by the Company will be achieved.  All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.  The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

Member FDIC

For more information:
Jeffrey A. Paolucci
Executive Vice President and Chief Financial Officer
(843) 543-5510
[email protected]

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SOURCE First Reliance Bancshares, Inc.

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