Reliance Bank Holds Groundbreaking Ceremony for New Branch in The Grove

ST. LOUIS – Reliance Bank, a subsidiary of Reliance Bancshares, Inc. (OTCPK: RLBS), held a groundbreaking ceremony Tues., August 26 for the renovation of their property located at 4301 Manchester Avenue. The historic building, located at the corner of Tower Grove Avenue in The Grove district, will be completely rehabilitated and converted to a new branch for the Bank.

“We are proud and excited to break ground on this important renovation project,” said Thomas H. Brouster, Sr., Chairman of the Board of Reliance Bank. “This full service branch will be our first located in the City of St. Louis, and we look forward to providing lending and depository products and services to a diverse area that is currently under-banked.”

The more than 60 attendees heard comments from Brouster, St. Louis 17th Ward Alderman Joseph Roddy, and Equal Housing Opportunity Council President Will Jordan. The Very Reverend Richard Potts from St. Alphonsus Rock Catholic Church offered a blessing. Reliance Bank CEO Rick Sems and Reliance President Allan Ivie served as masters of ceremonies.

In addition to the speakers, other attendees included Missouri State Rep/Speaker of the House John Diehl, St. Louis Comptroller Darlene Green, St. Louis Collector of Revenue Gregory Daly, St. Louis Alderwoman Marlene Davis, Deputy Director for U.S. Senator Claire McCaskill Mattie Moore, Executive Director of Park Central Development Brooks Goedeker, Executive Directors of Washington University Medical School Redevelopment Corporation Brian Phillips, and Reliance project team members, President of Striler Group Rich Striler, President of Sitelines, Inc. Kelly Kenter, Principal of M+H Architects Larry Valenza, Think Tank PR & Marketing, and many of the Reliance Bank executives and board members. Following the ceremony, Sweetie Pie’s served refreshments to attendees.

The property consists of a triangular-shaped, three story building located in the heart of the Grove. The neighborhood landmark was constructed in the late 19th century and originally housed a general store on the first floor and residential apartments on the upper floors. The building has been vacant for the past several years. Reliance acquired the property in early 2014.

Brouster added, “We are pleased to join The Grove neighborhood, and we look forward to bringing this historic building back to life.”

Reliance is pleased to have a facility in such an eclectic and vibrant neighborhood and looks forward to meeting and serving local residents and businesses. The 1600 sq. ft. branch will include a walk-up ATM and night depository, safe deposit boxes, and drive-through banking that will include an ATM. The Bank plans on offering all traditional bank lending and depository services, and the design will include some of the latest in bank technology including video boards and drive-through video teller machines.

The Bank anticipates opening the branch prior to the end of 2014.

Reliance has also been busy with another grand opening. The Bank recently opened a loan production office in the nearby Justine PETERSEN offices on N. Grand Boulevard in January. Justine PETERSEN is a nonprofit organization that is committed to assisting low-wealth individuals and small businesses in St. Louis to develop, maintain, and increase financial assets. Reliance is hoping that, through this partnership with Justine PETERSEN, they can help create opportunities for people and their families that otherwise might not have been possible.

About Reliance Bancshares, Inc.

Reliance Bancshares, Inc., headquartered in St. Louis, MO, is a Missouri bank holding company that provides a full range of banking services to individual and corporate customers. The Company’s common stock is quoted on the Pink Sheets (www.pinksheets.com) under the symbol “RLBS”. It currently operates twenty branches and one loan production office (LPO) in the St. Louis metropolitan area and two branches in Fort Myers, Florida under the name of Reliance Bank. The company’s total assets as of June 30, 2014 were approximately $1.08 billion. Reliance Bank’s website can be found at www.reliancebankstl.com.