First Century Bank Mortgage Rates, Fees & Info

Tazewell, TN

LEI: 549300F1D8U51K67LV24

Tax ID: 62-0161420

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

First Century Bank is a smaller bank specializing in Home Purchase loans. First Century Bank has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Sevierville, Morristown, Crossville, and Nashville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Century Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

288

Origination Dollar Volume (All Markets)

$49,160,000

Employee count

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
KNOXVILLE, TN (FHA\|USDA\|VA)	190	$35,070,000	$184,579	$0	0.00%
Outside of Metro Areas	77	$9,825,000	$127,597	$0	0.00%
Sevierville, TN (FHA\|USDA\|VA)	8	$2,020,000	$252,500	$0	0.00%
MORRISTOWN, TN (FHA\|USDA\|VA)	9	$1,575,000	$175,000	$0	0.00%
Crossville, TN (FHA\|USDA\|VA)	1	$445,000	$445,000	$0	0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	0.00%
London, KY (FHA\|USDA\|VA)	1	$35,000	$35,000	$0	0.00%
Middlesborough, KY (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	0.00%

First Century Bank's top markets include Knoxville, Sevierville, Morristown, Crossville, and Nashville among others.

Their top states include:

Tennessee (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Kentucky (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	288	$49,160,000	$170,694	$0	0.00%

For 2018, First Century Bank's most frequently originated type of loan was Conventional, with 288 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	221	$39,735,000	$179,796	$0	0.00%
Refi	27	$3,885,000	$143,889	$0	0.00%
Cash Out Refi	25	$3,745,000	$149,800	$0	0.00%
Home Improvement	10	$870,000	$87,000	$0	0.00%
Other	5	$925,000	$185,000	$0	0.00%

For 2018, First Century Bank's most frequently cited loan purpose was Home Purchase, with 221 originations. The 2nd most popular reason was Refi, with 27 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	288	$49,160,000	$170,694	$0	0.00%

For 2018, First Century Bank's most frequently cited loan duration was Other, with 288 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	102	$6,080,000	$59,608	$0	0.00%
$100k-200k	94	$13,750,000	$146,277	$0	0.00%
$200k-400k	74	$20,410,000	$275,811	$0	0.00%
$400k-600k	17	$7,935,000	$466,765	$0	0.00%
$600k-1MM	1	$985,000	$985,000	$0	0.00%

2018 saw First Century Bank place emphasis on $100,000 or less loans with 102 originations, totaling $6,080,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	59	$5,595,000	$94,831	$0	0.00%
$100k-150k	54	$11,420,000	$211,481	$0	0.00%
$50k-75k	52	$6,230,000	$119,808	$0	0.00%
$150k-250k	35	$7,685,000	$219,571	$0	0.00%
$75k-100k	32	$5,700,000	$178,125	$0	0.00%
$250k+	25	$5,725,000	$229,000	$0	0.00%

First Century Bank lent most frequently to those with incomes in the $50k or less range, with 59 originations. The second most popular income band? $100k-150k, with 54 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	288	$49,160,000	$170,694	$0	0.00%

First Century Bank lent most frequently to those with DTI ratios of Exempt%, with 288 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	253	$42,735,000	$168,913	$0	0.00%
Not applicable	27	$5,795,000	$214,630	$0	0.00%
Vietnamese	1	$305,000	$305,000	$0	0.00%
Black	4	$210,000	$52,500	$0	0.00%
Asian	3	$115,000	$38,333	$0	0.00%

Approval Rates

Total approvals of all applications
88.68%

First Century Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.99%

First Century Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	288	$49,160,000	$170,694

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	6	$2,200,000	$366,667
Single Family (1-4 Units):Manufactured	17	$1,005,000	$59,118
Single Family (1-4 Units):Site-Built	265	$45,955,000	$173,415

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Incorrect information on your report	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Problem with a credit reporting company's investigation into an existing problem	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	3	21.4%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	5	35.7%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Century Bank	108 Main Street Sneedville, TN 37869	Full Service B&M	$32,834
First Century Bank	1522 West Broadway Avenue Maryville, TN 37801	Full Service B&M	$21,883
First Century Bank	1771 North Broad St Tazewell, TN 37879	Limited, Drive-thru	$0
First Century Bank	1780 North Broad Street Tazewell, TN 37879	Full Service B&M	$109,325
First Century Bank	2969 Maynardville Hwy Maynardville, TN 37807	Full Service B&M	$30,405
First Century Bank	301 North Broad Street New Tazewell, TN 37825	Full Service B&M	$49,309
First Century Bank	600 East Emory Powell, TN 37849	Full Service B&M	$61,312
First Century Bank	6946 Cumberland Gap Parkway Harrogate, TN 37752	Full Service B&M	$20,782

For 2018, First Century Bank had 8 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,955
Net interest income	$14,527
Total noninterest income	$2,818
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,269
Trading account gains and fees	$0
Additional Noninterest Income	$1,549
Pre-tax net operating income	$6,637
Securities gains (or losses, -)	$0
Income before extraordinary items	$5,059
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,059
Minority interest net income	$0
Net income	$5,059
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$5,059

First Century Bank's gross interest income from loans was $16,955,000.
First Century Bank's net interest income from loans was $14,527,000.
First Century Bank's fee based income from loans was $1,269,000.
First Century Bank's net income from loans was $5,059,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,428
Provision for credit losses	$312
Total noninterest expense	$10,396
Salaries and employee benefits	$5,972
Premises and equipment expense	$1,994
Additional noninterest expense	$2,430
Applicable income taxes	$1,578
Net charge-offs	$41
Cash dividends	$600

First Century Bank's interest expense for loans was $2,428,000.
First Century Bank's payroll and benefits expense were $5,972,000.
First Century Bank's property, plant and equipment expenses $1,994,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	1.0%
Credit card loans	0.0%
Other individual loans	1.0%
Auto loans	0.0%
Other consumer loans	1.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$348,386
Deposits held in domestic offices	$348,386
Deposits by Individuals, partnerships, and corporations	$314,764
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$32,641
Deposits by Commercial banks and other depository institutions in U.S.	$981
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$153,266
Demand deposits	$71,481
Nontransaction accounts	$195,120
Money market deposit accounts (MMDAs)	$29,204
Other savings deposits (excluding MMDAs)	$53,146
Total time deposits	$112,770
Total time and savings deposits	$276,905
Noninterest-bearing deposits	$71,481
Interest-bearing deposits	$276,905
Retail deposits	$308,912
IRAs and Keogh plan accounts	$14,168
Brokered deposits	$29,883
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$389,805
Cash & Balances due from depository institutions	$17,772
Interest-bearing balances	$8,143
Total securities	$7,952
Federal funds sold & reverse repurchase	$18,613
Net loans and leases	$325,633
Loan and leases loss allowance	$4,217
Trading account assets	$0
Bank premises and fixed assets	$7,395
Other real estate owned	$148
Goodwill and other intangibles	$0
All other assets	$12,292

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$389,805
Total Liabilities	$351,446
Total deposits	$348,386
Interest-bearing deposits	$276,905
Deposits held in domestic offices	$348,386
% insured (estimated)	$86
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,060

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$325,633
Loan and leases loss allowance	$4,217
Total loans and leases (domestic)	$329,850
All real estate loans	$289,402
Real estate loans in domestic offices	$289,402
Construction and development loans	$39,772
Residential 1-4 family construction	$22,628
Other construction, all land development and other land	$17,144
Loans secured by nonfarm nonresidential properties	$106,811
Nonfarm nonresidential secured by owner-occupied properties	$46,928
Commercial real estate & other non-farm, non-residential	$59,883
Multifamily residential real estate	$14,213
1-4 family residential loans	$119,493
Farmland loans	$9,113
Loans held in foreign offices	$0
Farm loans	$185
Commercial and industrial loans	$33,399
To non-U.S. addressees	$0
Loans to individuals	$6,330
Credit card loans	$0
Related Plans	$516
Consumer Auto Loans	$590
Other loans to individuals	$5,224
All other loans & leases	$534
Loans to foreign governments and official institutions	$0
Other loans	$112
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$1,548
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$479
Non 1-4 family restructured loans & leases	$129
Total loans and leases (foreign)	$0

First Century Bank had $325,633,000 of loans outstanding in 2018. $289,402,000 of loans were in real estate loans. $39,772,000 of loans were in development loans. $14,213,000 of loans were in multifamily mortgage loans. $119,493,000 of loans were in 1-4 family mortgage loans. $185,000 of loans were in farm loans. $0 of loans were in credit card loans. $590,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	166	$44,979	$270,958
Nonfarm, nonresidential loans - <$100k	29	$1,367	$47,138
Nonfarm, nonresidential loans - $100-250k	62	$8,301	$133,887
Nonfarm, nonresidential loans - $250k-1MM	75	$35,311	$470,813
Commercial & Industrial, US addressed loans - <$1MM	424	$23,546	$55,533
Commercial & Industrial, US addressed loans - <$100k	324	$6,413	$19,793
Commercial & Industrial, US addressed loans - $100-250k	56	$5,834	$104,179
Commercial & Industrial, US addressed loans - $250k-1MM	44	$11,299	$256,795
Farmland loans - <$1MM	80	$7,946	$99,325
Farmland loans - <$100k	47	$2,365	$50,319
Farmland loans - $100-250k	27	$3,303	$122,333
Farmland loans - $250k-1MM	6	$2,278	$379,667
Agriculture operations loans - <$1MM	11	$185	$16,818
Agriculture operations loans - <$100k	11	$185	$16,818