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First Reliance Bancshares Inc (FSRL)
OTHER OTC:FSRL
US Market
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First Reliance Bancshares (FSRL) AI Stock Analysis

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First Reliance Bancshares

(OTC:FSRL)

Rating:60Neutral
Price Target:
First Reliance Bancshares demonstrates stable financial performance with improving profit margins and a conservative debt position. However, incomplete cash flow data raises concerns about liquidity management. The stock shows mild bullish technical indicators, supported by a reasonable valuation. The absence of dividend yield and cash flow transparency are areas for improvement.

First Reliance Bancshares (FSRL) vs. SPDR S&P 500 ETF (SPY)

First Reliance Bancshares Business Overview & Revenue Model

Company DescriptionFirst Reliance Bancshares, Inc. operates as the bank holding company for First Reliance Bank that provides banking products and services in the United States. The company offers checking, savings, money market, and individual retirement accounts; certificates of deposit; and insurance products. It also provides personal loans, including unsecured, auto, real estate, overdraft protection, and other loans, as well as home equity line of credit; business loans, such as business installment, commercial real estate, and overdraft protection loans, as well as business lines of credit; mortgage loans; and debit and credit card services. In addition, the company offers treasury; indirect dealer; online, mobile, and business banking; and other services. First Reliance Bancshares, Inc. was founded in 1999 and is based in Florence, South Carolina.
How the Company Makes MoneyFirst Reliance Bancshares makes money through various revenue streams primarily related to its banking operations. The company earns interest income from loans and mortgages extended to individual and business customers. Additionally, it generates revenue from service fees associated with account maintenance, transaction services, and wealth management offerings. Deposits from customers provide a low-cost funding source, which supports its lending activities. The company's profitability is further influenced by partnerships with financial service providers and its ability to manage interest rate margins effectively.

First Reliance Bancshares Financial Statement Overview

Summary
First Reliance Bancshares exhibits stable growth and operational efficiency, as seen in its improving profit margins and solid debt management. However, incomplete cash flow data for 2024 introduces uncertainty regarding the company's liquidity and cash management. Overall, the firm shows a positive trajectory in profitability but should address cash flow transparency and consistency.
Income Statement
70
Positive
First Reliance Bancshares shows a stable revenue growth from 2023 to 2024, with a revenue increase of approximately 10.5%. The gross profit margin remains healthy at 100% due to the nature of the banking industry. The net profit margin improved slightly to 15.1% in 2024 from 12.96% in 2023. However, the revenue has not yet returned to the levels seen in 2020. The EBIT margin improved significantly from 16.36% in 2023 to 28.17% in 2024, indicating better operational efficiency.
Balance Sheet
65
Positive
The company's debt-to-equity ratio is relatively low at 0.33 in 2024, indicating a conservative leverage position. Return on Equity (ROE) remained stable at 7.62% in 2024, reflecting consistent profitability relative to shareholders' equity. The equity ratio has decreased slightly from 7.32% in 2023 to 7.29% in 2024, suggesting a marginal reduction in equity as a proportion of total assets.
Cash Flow
40
Negative
The cash flow data for 2024 is incomplete, making it challenging to assess free cash flow growth and operating cash flow performance. In 2023, the operating cash flow to net income ratio was strong at 1.96, indicating efficient cash generation relative to net income. However, the lack of cash flow data for 2024 creates uncertainties around the company's cash management and liquidity.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue39.26M35.52M42.16M40.86M51.15M
Gross Profit39.26M35.52M42.16M40.86M51.15M
EBITDA0.000.000.00-121.98K15.38M
Net Income5.92M4.60M5.93M5.28M10.62M
Balance Sheet
Total Assets1.07B975.77M938.64M912.18M713.70M
Cash, Cash Equivalents and Short-Term Investments47.23M21.94M33.80M150.12M98.69M
Total Debt25.75M25.72M69.26M53.81M41.75M
Total Liabilities989.35M904.37M875.34M841.38M644.97M
Stockholders Equity77.76M71.40M63.30M70.80M68.73M
Cash Flow
Free Cash Flow-9.49M8.40M-392.28K13.03M21.54M
Operating Cash Flow-8.93M9.03M754.02K18.22M22.67M
Investing Cash Flow-52.10M-48.58M-155.81M-162.28M32.89K
Financing Cash Flow86.91M27.69M33.77M195.50M35.65M

First Reliance Bancshares Technical Analysis

Technical Analysis Sentiment
Positive
Last Price9.70
Price Trends
50DMA
9.40
Positive
100DMA
9.46
Positive
200DMA
9.62
Negative
Market Momentum
MACD
0.07
Positive
RSI
55.41
Neutral
STOCH
61.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FSRL, the sentiment is Positive. The current price of 9.7 is above the 20-day moving average (MA) of 9.50, above the 50-day MA of 9.40, and above the 200-day MA of 9.62, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 55.41 is Neutral, neither overbought nor oversold. The STOCH value of 61.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FSRL.

First Reliance Bancshares Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
$75.80M10.278.10%1.99%5.04%-6.92%
73
Outperform
$66.10M18.175.61%4.45%1.62%21.82%
73
Outperform
$82.01M11.4711.29%6.37%5.81%-22.37%
70
Neutral
$99.47M15.178.32%4.81%22.78%722.30%
68
Neutral
$16.89B11.699.78%3.90%11.76%-7.55%
67
Neutral
$83.29M24.324.35%1.61%11.65%67.39%
60
Neutral
$78.05M12.798.22%16.19%40.48%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
FSRL
First Reliance Bancshares
9.70
1.32
15.75%
AUBN
Auburn National Bancorporation
28.06
9.58
51.84%
IROQ
IF Bancorp
24.85
8.20
49.25%
LSBK
Lake Shore Bancorp
11.95
3.22
36.88%
UBCP
United Bancorp
13.75
2.08
17.82%
FUSB
First US Bancshares
13.24
3.11
30.70%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: May 03, 2025