First Reliance Bancshares, Inc. Financial Ratios — FSRL

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	-34.8	84.68	66.68	78.72	24.62	21.94	14.42	16.1	24.12
Return on Assets (%)	-1.83	0.06	-2	1.22	2.37	0.9	-0.16	0.47	0.66	1.55	0.65	0.64	0.48	0.58	1.01
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	0.43	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	4.54	5.89	-32.43	12.61	17.74	4.04	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	1.35	-38.04	7.29	12.91	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	478.33	-43.34	- -	500.21	108.91	-76.77	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	-19.73	1.35	-38.04	7.29	12.91	23.66	12.85	10.98	17.42	29.39	16.5	19.41	15.93	18.96	29.74
Profit Margin (%)	-43.59	1.32	-46.43	24.22	45.75	15.65	-3.03	8.41	13.33	22.46	13.59	15.21	12.61	14.66	23.19
Net Income to Common Margin (%)	-48.23	-3.46	-52.2	17.52	38.22	11.49	-3.03	8.41	13.33	22.46	13.59	15.21	12.61	14.66	23.19
Effective Tax Rate (%)	- -	2.39	- -	- -	- -	33.84	123.55	23.38	23.46	23.6	17.65	21.66	20.81	22.68	22.03
Dvd Payout Ratio (%)	2.4	138.25	11.06	-38.28	47.05	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	-34.8	84.68	66.68	78.72	24.62	21.94	14.42	16.1	24.12

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	23	21	33	35	20	37	37	35	64	36	42	62	36	31	44
ST Debt	- -	- -	- -	- -	- -	7	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	23	21	33	35	20	30	37	35	64	36	42	62	36	31	44
Total Debt/EBITDA	23.86	17.32	-6.16	15.39	5.94	40.7	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	-21.3	-13.7	-2.77	5.39	0.04	10.78	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	75.41	-5.25	26.62	8.17	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	-59.64	-2.36	9.32	0.06	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-1.27	-1.47	-4.05	-2.73	-0.32	0.57	0.36	0.7	1.24	2.65	2.64	3.2	3.47	3.73	4.63
Long-Term Debt/Equity (%)	56.69	51.73	103.79	97.09	50.48	112.87	74.22	67.56	112.6	52.72	59.94	97.78	50.87	39.51	47.4
Long-Term Debt/Capital (%)	66.47	63.91	95.65	85.64	57.95	76.58	88.98	89.61	88.71	65.84	63.81	67.35	51.77	43.59	46.54
Long-Term Debt/Total Assets (%)	4.71	5.09	9.37	9.6	5.41	7.38	8.12	6.02	9.72	5.1	4.66	6.6	3.73	2.88	4.03
Total Debt/Equity (%)	56.69	51.73	103.79	97.09	50.48	138.72	74.22	67.56	112.6	52.72	59.94	97.78	50.87	39.51	47.4
Total Debt/Capital (%)	66.47	63.91	95.65	85.64	57.95	94.12	88.98	89.61	88.71	65.84	63.81	67.35	51.77	43.59	46.54
Total Debt/Total Assets (%)	4.71	5.09	9.37	9.6	5.41	9.06	8.12	6.02	9.72	5.1	4.66	6.6	3.73	2.88	4.03
Net Debt to Equity	-50.61	-40.91	46.62	33.99	0.37	36.72	-49.31	-66.74	-71.11	-143.97	-212.4	-53.8	-30.74	-60.74	-34.53
Net Debt/Capital (%)	229.87	349.64	90.81	67.61	0.99	80.91	-144.66	-770.55	-127.42	225.29	179.31	-58.88	-45.52	-203.08	-51.29
EBITDA	1	1	-5	2	3	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	1	1	-6	2	3	- -	- -	-1	-1	-1	-5	-1	-1	-1	-5
Operating Income (Loss)	- -	- -	-6	1	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-1.27	-1.47	-4.05	-2.73	-0.32	0.57	0.36	0.7	1.24	2.65	2.64	3.2	3.47	3.73	4.63
Long-Term Debt/Equity (%)	56.69	51.73	103.79	97.09	50.48	112.87	74.22	67.56	112.6	52.72	59.94	97.78	50.87	39.51	47.4
Long-Term Debt/Capital (%)	66.47	63.91	95.65	85.64	57.95	76.58	88.98	89.61	88.71	65.84	63.81	67.35	51.77	43.59	46.54
Long-Term Debt/Total Assets (%)	4.71	5.09	9.37	9.6	5.41	7.38	8.12	6.02	9.72	5.1	4.66	6.6	3.73	2.88	4.03
Total Debt/Equity (%)	56.69	51.73	103.79	97.09	50.48	138.72	74.22	67.56	112.6	52.72	59.94	97.78	50.87	39.51	47.4
Total Debt/Capital (%)	66.47	63.91	95.65	85.64	57.95	94.12	88.98	89.61	88.71	65.84	63.81	67.35	51.77	43.59	46.54
Total Debt/Total Assets (%)	4.71	5.09	9.37	9.6	5.41	9.06	8.12	6.02	9.72	5.1	4.66	6.6	3.73	2.88	4.03
CFO/Total Liabilities	0.65	0.19	1.75	1.12	-1.42	1.45	-0.36	-0.59	-1.99	5.37	4.71	2.9	1.05	-0.9	1.8
CFO/CapEx	20.07	2.3	11.11	12.44	-17.01	11.34	-3.92	-2.78	-12.15	30.39	7.63	22.11	15.12	-15.81	3.76
Altman's Z-Score	0.04	0.04	-0.06	0.05	0.11	0.11	0.12	0.11	0.13	0.16	0.14	0.13	0.13	0.09	0.17

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	9.88	12.98	13.85	16.82	19.13	23.18	47.4	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	36.94	28.12	26.36	21.71	19.08	15.74	7.7	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	8	7	7	15	20	26	41	42	62	61	79	68	67	- -	96
- Cash & Cash Equivalents	44	38	18	23	20	27	25	35	41	99	150	34	22	47	32
+ Preferred Equity and Hybrid Capital	18	18	16	16	16	- -	3	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	23	21	33	35	20	37	37	35	64	36	42	62	36	31	44
Enterprise Value	5	9	38	43	25	18	56	43	86	-1	-29	96	81	-17	108
Total Capital	35	33	35	41	35	39	42	39	72	55	67	92	70	70	95
Total Debt/Capital (%)	66.47	63.91	95.65	85.64	57.95	94.12	88.98	89.61	88.71	65.84	63.81	67.35	51.77	43.59	46.54
Total Debt / EV	4.31	2.43	0.87	0.81	0.8	2.02	0.66	0.83	0.75	-27.07	-1.47	0.65	0.45	-1.86	0.41
EV/Sales	0.25	0.42	2.29	2.39	1.31	0.81	2.48	1.47	2.8	- -	- -	2.45	2.23	- -	2.3
EV/EBITDA	5.54	7.12	- -	18.95	7.4	20.13	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	30.98	- -	32.79	10.17	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	1.83	12.26	6.75	11.75	- -	3.31	- -	- -	- -	- -	- -	3.77	8.56	- -	6.03
EV/Free Cash Flow to Firm	1.75	8.54	6.19	10.87	- -	3.04	- -	- -	- -	- -	- -	3.61	8.03	- -	4.76
Diluted Market Cap	8	7	7	15	21	27	41	43	63	62	83	71	70	- -	102
Diluted Enterprise Value	5	9	38	44	37	37	56	43	87	- -	-25	99	84	-17	114
EV per Share	1.32	2.14	8.9	9.43	5.63	4.12	10.33	5.51	10.8	- -	- -	12.3	10.41	- -	13.79
TTM Sales	22	21	17	18	19	22	23	29	31	47	39	39	36	40	47
TTM EBITDA	1	1	-5	2	3	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	-6	1	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	3	1	6	4	-5	6	-1	-3	-12	34	40	25	10	-9	18
TTM Free Cash Flow to Firm	3	1	6	4	-4	6	-1	-2	-11	36	45	26	10	-8	23

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	2.65	7.23	1.19	3.86	-4.67	4.5	-37.06	-21.19	-5.71	1.75	1.86	2.67	6.9	- -	4.49
EV/EBIT	- -	30.98	- -	32.79	10.17	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	5	9	38	43	25	18	56	43	86	-1	-29	96	81	-17	108
Low Price	1.2	1.05	1.1	1.55	3.26	3.75	5.91	5.15	5.28	4.85	7.23	8.58	6	7.6	9
EV/Sales	0.25	0.42	2.29	2.39	1.31	0.81	2.48	1.47	2.8	- -	- -	2.45	2.23	- -	2.3
EV/EBITDA	5.54	7.12	- -	18.95	7.4	20.13	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	4.76	2.78	10.2	- -	17.35	15.18	5.78	14.98	11.44	14.56	- -	8.83
Price/Earnings Average	-0.89	-12.5	-0.87	3.39	2.57	8.43	-54.56	23.02	14.12	4.65	14.42	12.34	12.46	- -	7.29
Price/Earnings High	-1.52	-20.15	-1.23	4.91	3.26	10.2	-63.43	24.84	15.88	5.93	15.77	13.38	15.29	- -	9.86
Price/Earnings Low	-0.47	-5.96	-0.54	2.24	1.99	6.44	-46.86	16.4	10.25	3.62	10.62	11.25	10.2	- -	6.48
Price/Book Value	-1.31	-1.2	-0.51	-1.51	-16.85	11.42	24.81	10.32	7.59	3.27	3.28	2.26	1.98	- -	1.9
Price/Book Value Average	-1.47	-1.46	-0.52	-1.08	-15.63	9.43	22.76	13.69	7.06	2.63	3.16	2.44	1.69	- -	1.57
Price/Book Value High	-2.52	-2.36	-0.75	-1.56	-19.82	11.42	26.46	14.77	7.94	3.35	3.46	2.64	2.08	- -	2.12
Price/Book Value Low	-0.79	-0.7	-0.33	-0.71	-12.08	7.21	19.55	9.75	5.13	2.04	2.33	2.22	1.39	- -	1.39
Price/Tangible Book Value	0.36	0.32	0.45	0.74	0.88	1.17	1	1.01	1.38	1.1	1.42	1.3	1.14	- -	1.24
Price/Tangible Book Value Average	0.4	0.39	0.47	0.53	0.81	0.97	0.92	1.34	1.29	0.89	1.36	1.41	0.97	- -	1.02
Price/Tangible Book Value High	0.68	0.63	0.66	0.77	1.03	1.17	1.07	1.45	1.45	1.13	1.49	1.53	1.19	- -	1.38
Price/Tangible Book Value Low	0.21	0.19	0.29	0.35	0.63	0.74	0.79	0.95	0.93	0.69	1	1.28	0.8	- -	0.91
Price/Sales	0.38	0.36	0.44	0.83	1.06	1.17	1.8	1.46	2.02	1.3	2.04	1.74	1.84	- -	2.05
Price/Sales Average	0.43	0.43	0.45	0.59	0.98	0.97	1.65	1.94	1.88	1.05	1.96	1.88	1.57	- -	1.69
Price/Sales High	0.73	0.7	0.64	0.86	1.25	1.17	1.92	2.09	2.12	1.33	2.14	2.03	1.93	- -	2.29
Price/Sales Low	0.23	0.21	0.28	0.39	0.76	0.74	1.42	1.38	1.37	0.81	1.44	1.71	1.29	- -	1.5
Price/Cash Flow	2.78	10.37	1.3	4.1	-4.3	4.77	-27.6	-13.33	-5.16	1.78	2	2.68	7.05	- -	5.36
Price/Cash Flow Average	3.11	12.62	1.33	2.92	-3.99	3.94	-25.33	-17.69	-4.8	1.43	1.92	2.89	6.03	- -	4.43
Price/Cash Flow High	5.35	20.35	1.9	4.22	-5.06	4.77	-29.44	-19.08	-5.39	1.83	2.1	3.13	7.4	- -	5.99
Price/Cash Flow Low	1.67	6.02	0.83	1.93	-3.08	3.01	-21.75	-12.6	-3.48	1.11	1.42	2.63	4.94	- -	3.93
Price/Free Cash Flow Average	2.96	8.79	1.22	2.75	-4.34	3.72	-34	-28.11	-5.31	1.41	1.79	2.89	5.9	- -	3.71
Price/Free Cash Flow High	5.09	14.18	1.74	3.97	-5.5	4.5	-39.53	-30.32	-5.97	1.8	1.96	3.13	7.25	- -	5.02
Price/Free Cash Flow Low	1.59	4.19	0.77	1.82	-3.35	2.84	-29.2	-20.02	-3.85	1.1	1.32	2.63	4.83	- -	3.3
EV/Sales Average	0.3	0.5	2.3	2.15	1.82	1.4	2.33	1.95	2.65	- -	- -	2.59	1.97	- -	1.95
EV/Sales High	0.6	0.76	2.5	2.42	2.08	1.61	2.6	2.1	2.89	0.01	- -	2.75	2.32	- -	2.54
EV/Sales Low	0.1	0.27	2.14	1.95	1.6	1.18	2.1	1.39	2.14	- -	- -	2.43	1.68	- -	1.76
EV/EBITDA Average	6.55	8.42	-7.11	17.05	10.26	34.74	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	13.31	12.91	-7.7	19.15	11.74	39.79	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	2.18	4.59	-6.59	15.45	9	29.09	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	36.65	-6.06	29.49	14.1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	56.19	-6.56	33.13	16.14	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	19.97	-5.62	26.73	12.37	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	2	1.81	1.71	3.29	4.55	5.94	7.5	5.45	7.82	7.75	10.2	8.72	8.57	9.59	12.26
High Price	3.85	3.55	2.5	3.39	5.35	5.94	8	7.8	8.18	7.95	10.74	10.2	9	10.59	13.7
Enterprise Value Average	6	10	38	39	35	32	53	56	81	-13	-32	101	72	-17	92
Enterprise Value High	13	16	42	44	40	36	59	61	89	- -	-25	107	85	-17	120
Enterprise Value Low	2	6	36	35	31	26	48	40	66	-24	-52	95	61	-17	83

Shares Outstanding	4	4	5	5	5	5	8	8	8	8	8	8	8	8	8
Diluted Weighted Avg Shares	4	4	4	5	5	5	5	8	8	8	8	8	8	- -	8
Basic Weighted Avg Shares	4	4	4	5	4	4	5	8	8	8	8	8	8	- -	8
Revenue per Share	5.25	5.1	3.88	3.94	4.29	5.07	4.17	3.73	3.86	5.97	5.01	5.01	4.66	- -	5.99
EBITDA per Share	0.24	0.3	-1.26	0.5	0.76	0.2	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	0.07	-1.48	0.29	0.55	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	-2.53	-0.18	-2.03	0.69	1.64	0.58	-0.13	0.31	0.52	1.34	0.68	0.76	0.59	- -	1.39
Basic EPS from Cont Ops	-2.29	0.07	-1.8	0.96	1.96	0.79	-0.13	0.31	0.52	1.34	0.68	0.76	0.59	- -	1.39
Diluted EPS, GAAP	-2.53	-0.18	-2.03	0.68	1.6	0.57	-0.13	0.31	0.51	1.32	0.65	0.73	0.56	- -	1.31
Diluted EPS from Cont Ops	-2.29	0.07	-1.8	0.94	1.92	0.77	-0.13	0.31	0.51	1.32	0.65	0.73	0.56	- -	1.31
Dividend per Share	0.18	- -	- -	- -	1.09	0.21	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.72	0.17	1.32	0.8	-1.06	1.25	-0.27	-0.41	-1.52	4.35	5.1	3.26	1.22	- -	2.29
Free Cash Flow per Basic Share	0.68	0.1	1.2	0.74	-1.12	1.14	-0.34	-0.56	-1.64	4.21	4.43	3.11	1.14	- -	1.68
Cash & Equivalents per Share	10.76	9.32	4.27	4.97	7	10.15	4.52	4.5	5.11	12.49	19.41	4.38	2.81	- -	4.09
Book Value per Share	-1.53	-1.51	-3.35	-2.17	-0.27	0.52	0.3	0.53	1.03	2.37	3.11	3.86	4.33	- -	6.45
Tangible Book Value per Share	5.63	5.62	3.77	4.43	5.18	5.06	7.47	5.4	5.65	7.03	7.2	6.69	7.54	- -	9.9

First Reliance Bancshares, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)