Exhibit 99.1

FOR IMMEDIATE RELEASE
Contact: Thomas Cooke
(314) 378-7800
tcooke@fast-fwd.net

Earnings Release

RELIANCE BANCSHARES, INC. ANNOUNCES FOURTH QUARTER AND YEAR-END 2010 RESULTS

•		Net loss of $48.5 million for 2010, including a $26.1 million non-cash charge to establish a valuation allowance for deferred tax assets.
•		Loss before taxes of $37.2 million for 2010, compared to $46.0 million loss before taxes for 2009.
•		Net interest income increased $2.9 million for the year to $40.5 million, up 7.8%.
•		Loss before taxes of $12.2 million for the fourth quarter 2010, compared to a $24.4 million loss before taxes for the fourth quarter of 2009.

ST. LOUIS, MARCH 11, 2011 — Reliance Bancshares, Inc., the parent company of Reliance Bank and Reliance Bank, FSB, announces its 2010 results and reports a net loss of $48.5 million, including a $26.1 million non-cash charge to establish a valuation allowance for deferred tax assets. The Company’s financial results were driven largely by stresses related to the commercial real estate sector in the Florida and St. Louis metropolitan markets. The Company has proactively implemented elevated standards of credit management including stringent asset review and risk management processes and as a result, continued to increase its reserve for possible loan losses to $37.3 million, a $5.1 million increase over year-end 2009. This reserve represents 3.84% of outstanding loans; for year-end 2009, the reserve represented 2.83% of outstanding loans. The 2010 provision for loan loss was $41.5 million compared to $53.5 million in 2009, a reduction of 22.4%. The net interest income increased $2.9 million for the year to $40.5 million, up 7.8%.

Total assets as of December 31, 2010 were $1.3 billion. This represents a 15.7% decrease compared to 2009. Loans decreased 14.9% or $169.9 million for the year ended December 31, 2010. Total deposits decreased $185.9 million, or 14.7% to $1.1 billion for the year ended December 31, 2010. The decrease in deposits was a result of focusing on core deposit relationships and less reliance on rate sensitive deposits. Non-performing loans totaled 17.6% of outstanding loans as of December 31, 2010, compared to 6.3% at year-end 2009. The increase in the allowance for loan losses was due to additional reserves needed for credits that have been identified by management to have deteriorated and provide for uncertainty in the recent economy.

		Originated In
		Florida		All Other		Total
Net charge-offs (year-to-date 12/31/2010)		15.8 million		20.6 million		36.4 million
Net charge-offs (year-to-date 12/31/2009)		23.0 million		12.5 million		35.5 million
Non-performing loans (12/31/2010)		26.3 million		144.8 million		171.1 million
Non-performing loans (12/31/2009)		25.4 million		46.7 million		72.1 million
Non-performing assets* (12/31/2010)		41.6 million		160.5 million		202.1 million
Non-performing assets* (12/31/2009)		44.5 million		56.7 million		101.2 million
Outstanding loans originated in respective markets (12/31/2010)		51.1 million		919.2 million		970.3 million

*Non-performing Assets are comprised on Non-performing Loans, Non-performing Investments and Other Real Estate Owned

The Company reports the fourth quarter 2010 results to be a net loss of $33.7 million, including a $26.1 million non-cash charge to establish a valuation allowance for deferred tax assets. The fourth quarter 2010 provision for loan loss was $7.0 million compared to the fourth quarter 2009 of $25.8 million, a decrease of $72.9%. Net interest income for the quarter ended December 31, 2010, decreased by $.202 million, or 2.1%. During the fourth quarter of 2010 net charge-offs were $8.9 million compared to the fourth quarter of 2009 when net charge-offs were $19.8 million, a reduction of 55.1%.

		Originated In
		Florida		All Other		Total
Net charge-offs (quarter ended 12/31/2010)		4.4 million		4.5 million		8.9 million
Net charge-offs (quarter ended 12/31/2009)		10.6 million		9.2 million		19.8 million
Non-performing loans (12/31/2010)		26.3 million		144.8 million		171.1 million
Non-performing loans (9/30/2010)		18.8 million		100.4 million		119.2 million
Non-performing assets* (12/31/2010)		41.6 million		160.5 million		202.1 million
Non-performing assets* (9/30/2010)		39.3 million		116.4 million		155.7 million

*Non-performing Assets are comprised on Non-performing Loans, Non-performing Investments and Other Real Estate Owned

In February 2011, Reliance Bank entered into a Consent Order agreement with the regulatory authorities. The agreement imposes various restrictions and requirements, including provisions to maintain minimum Tier 1 capital of 8%, maintain minimum Total Risk Based capital of 12%, limit executive salary increases and dividends subject to prior regulatory approval, develop a liquidity and contingency funding plan, decline new or renewed brokered deposits and provide quarterly progress reports.

The Consent Order will remain in effect until modified or terminated by the applicable regulatory authority. Reliance Bank does not expect the actions called for by the Consent Order to change its business strategy in any material respect, although it may have the effect of limiting or delaying its ability or plans to expand. Management has taken various actions to comply with the Consent Order and will diligently endeavor to take all actions necessary for compliance.

During the first quarter of 2011 the Company will close its loan production offices in Houston, Texas and Chandler, Arizona. These efforts are part of the Company’s strategy of refocusing resources into the Bank’s core markets, preserving capital and reducing costs. Existing customers in these markets will continue to be serviced from the Company’s St. Louis headquarters.

     “During the past year we made significant progress towards improving our financial performance, despite extraordinary economic conditions in the banking industry,” said Allan D. Ivie IV, Chairman and Chief Executive Officer of Reliance Bancshares, Inc. We are encouraged by the marked improvement in our pretax loss that resulted from implementing elevated standards of credit management. Although 2011 will be another challenging year, I am confident our newly assembled leadership team and dedicated Reliance employees have the discipline and expertise to continue improving our results.”

About Reliance Bancshares, Inc.

Reliance Bancshares, Inc., headquartered in St. Louis, MO, is a publicly held 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 20 branches in the St. Louis metropolitan area under the name of Reliance Bank. It also owns and operates Reliance Bank, FSB, which is located in Fort Myers, Florida, with three branches in the Southwest Florida area. The company’s total assets as of December 31, 2010, was approximately $1.3 Billion. For more information about the company, visit www.reliancebankstl.com.

Forward Looking Statements

This news release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “anticipates,” “expects,” “intends” and similar expressions as they relate to Reliance Bancshares, its operations or its management are intended to identify such forward-looking statements. These forward-looking statements are subject to numerous risk and uncertainties. There are important factors that could cause actual results to differ materially from those in forward-looking statements, certain of which are beyond our control. These factors, risks and uncertainties are discussed in our most recent Annual Report on Form 10-K filed with the SEC, as updated from time to time in our other SEC filings.

For Additional Information Contact:
Reliance Bancshares, Inc.
Thomas T. Cooke
(314) 378-7800
tcooke@reliancebankstl.com

		December 31,				December 31,
BALANCE SHEETS		2010				2009
ASSETS
Cash and due from banks		$	8,364			$	11,929
Short-term investments			18,800				15,768
Debt and equity investments			241,599				284,120
Loans			970,289				1,140,219
Less reserve for loan losses			(37,301	)			(32,222	)
Net loans			932,988				1,107,997
Premises and equipment, net			35,778				42,211
Goodwill and identifiable intangible assets			1,270				1,286
Other real estate owned			30,851				29,086
Other assets			26,375				44,311
Total assets		$	1,296,025			$	1,536,708
LIABILITIES & EQUITY
Noninterest bearing deposits			61,288				71,830
Interest bearing deposits			1,018,871				1,194,231
Total deposits			1,080,159				1,266,061
Short-term borrowings			15,178				12,697
Long-term FHLB borrowings			93,000				104,000
Other liabilities			3,441				4,281
Total liabilities			1,191,778				1,387,039
Stockholders’ equity			104,247				149,669
Total liabilities & equity		$	1,296,025			$	1,536,708

		For the Twelve				For the Twelve				For the Quarter				For the Quarter
		months Ended				months Ended				Ended				Ended
INCOME STATEMENTS		Dec 31, 2010				Dec 31, 2009				Dec 31, 2010				Dec. 31, 2009
Total interest income		$	64,146			$	76,589			$	14,193			$	18,437
Total interest expense			23,637				39,005				4,900				8,942
Net interest income			40,509				37,584				9,293				9,495
Provision for loan losses			41,492				53,450				6,969				25,750
Net after provision			(983	)			(15,866	)			2,324				(16,255	)
NONINTEREST INCOME
Service charges on deposits			910				976				225				262
Gain (loss) sale of securities			288				1,346				—				540
Other income			2,309				1,603				720				411
Total noninterest income			3,507				3,925				945				1,213
NONINTEREST EXPENSE
Salaries and benefits			13,602				13,868				3,642				3,232
Other real estate expense			13,148				6,163				8,471				2,334
Occupancy and equipment			4,215				4,257				947				925
FDIC assessment			2,860				2,745				642				409
Data processing			1,662				1,950				415				451
Other			4,254				5,063				1,385				2,029
Total noninterest expense			39,741				34,046				15,502				9,380
Loss before taxes			(37,217	)			(45,987	)			(12,233	)			(24,422	)
Income tax expense (benefit)			11,312				(16,630	)			21,440				(9,122	)
Net loss		$	(48,529	)		$	(29,357	)		$	(33,673	)		$	(15,300	)

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