Fury's Bantu Burroughs was voted MVP thanks to his 16 points, five rebounds, four assists and three steals.
The former Rock was the game’s joint leading scorer along with Fury's American guard Trey Whitley.
Fury had earlier got off to a bright start that saw Eddy Leginas hit back to back threes on the way to a 24-18 first quarter lead. The match saw both teams only 32% in shooting .
The second quarter was a low scoring affair with Fury edging it 12 -11, to give the team a 36-29 lead at the half.
The third saw Reign start to draw back the deficit and it was not until Evaldis Burksaitis hit a big three for Fury did they manage to get points on the board and retain a five-point lead going into the final period.
In that last quarter, Reign came close until American Whitley poured in seven points in a row to take Fury clear.
Fury head coach John Bunyan said: "This latest Scottish Cup win came on the back of a very tough game, two days before the final, where we just got through by one point against a tough St Mirren side.
"So our players showed great resilience and despite neither team being at its best, we were able to grind out the win.
"Big shout out to all the coaches that were involved with me, not just during the season, but in particular in the St Mirren game, where my son Keith took the team and assisted today, but all the work that Gordon Munnoch, Bryan and Greg have done in working on team fitness, game film and tactics on the floor in our cup run."
Fury senior men lost 83-82 to Edinburgh Kings in the first leg of the play-off semi-finals in Edinburgh on Tuesday night.
The second leg is this Friday at Grangemouth Sports Complex, where Fury will look to reach the play-off finals by getting a two points or more win over Kings.
It promises to be a very exciting game and spectators are welcome - tip is 8pm and spectator admission is from 7.30pm onwards.
Fury are bidding to add a second title this season to their Scottish Cup Final win over Reign last Saturday.
Meanwhile, Fury cadet men were cruelly denied as the under-16 side lost 68-66 in their Scottish Cup final against Boroughmuir.
Fury had led for the whole game, but gave up a five-point lead inside the final 50 seconds.
For coaches Ewan Carlow and Cameon Stewart, it was an agonising finish as a long range three from Boroughmuir reduced the gap to two with 40 seconds to play and then the capital side, managing to eke out the two-point win from the free throw line in the dying seconds.
Fury had gone in as the underdogs, having lost to Boroughmuir in the league, but the the ever improving Falkirk side went in full of confidence and in the early stages there only looked one winner.
Stats for both teams were poor from behind the arc with Boroughmuir at 20% and Fury at a lowly 16%. Both teams also struggled from the free throw line with Boroughmuir at 53% and Fury at 40%.
But it was second chance points that kept the Edinburgh side in the game hitting 14 to Fury's four.
Twenty-four points from captain Jack Shand and 21 from U14 star Andrew Henderson ensured the Falkirk side were putting points on the board but also their great team play as they dished out 25 assists to Boroughmuir's 15, showing their willingness to share the ball and keep ahead in the game.
Overall however the team and coaches can take great pride in their season, where it was perceived from the start they would struggle to stay in Division 1 but instead finished fourth in the league and just missed out in winning the Scottish Cup.