First Reliance Bancshares in Florence, S.C., has agreed to buy Independence Bancshares in Greenville, S.C.

The $435 million-asset First Reliance said in a press release Monday that it will pay about $11 million in cash for the $90 million-asset Independence. The deal is expected to close in the first quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.