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 and Refi loans. First Century Bank has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Morristown, Sevierville, Kingsport, and Hilton Head Island 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

Originations

211

Origination Dollar Volume (All Markets)

$56,315,000

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)	145	$40,555,000	$279,690	$0	0.00%
Outside of Metro Areas	43	$7,415,000	$172,442	$0	0.00%
MORRISTOWN, TN (FHA\|USDA\|VA)	9	$4,095,000	$455,000	$0	0.00%
Sevierville, TN (FHA\|USDA\|VA)	5	$2,525,000	$505,000	$0	0.00%
KINGSPORT-BRISTOL, TN-VA (FHA\|USDA\|VA)	6	$960,000	$160,000	$0	0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	1	$405,000	$405,000	$0	0.00%
Greeneville, TN (FHA\|USDA\|VA)	1	$265,000	$265,000	$0	0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	0.00%

First Century Bank's top markets include Knoxville, Morristown, Sevierville, Kingsport, and Hilton Head Island among others.

Their top states include:

Tennessee (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	211	$56,315,000	$266,896	$0	0.00%

For 2020, First Century Bank's most frequently originated type of loan was Conventional, with 211 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	168	$41,480,000	$246,905	$0	0.00%
Refi	34	$13,840,000	$407,059	$0	0.00%
Home Improvement	8	$620,000	$77,500	$0	0.00%
Other	1	$375,000	$375,000	$0	0.00%

For 2020, First Century Bank's most frequently cited loan purpose was Home Purchase, with 168 originations. The 2nd most popular reason was Refi, with 34 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	211	$56,315,000	$266,896	$0	0.00%

For 2020, First Century Bank's most frequently cited loan duration was Other, with 211 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	69	$4,415,000	$63,986	$0	0.00%
$200k-400k	54	$15,010,000	$277,963	$0	0.00%
$100k-200k	53	$7,555,000	$142,547	$0	0.00%
$400k-600k	17	$8,215,000	$483,235	$0	0.00%
$600k-1MM	14	$10,140,000	$724,286	$0	0.00%
$1MM+	4	$10,980,000	$2,745,000	$0	0.00%

2020 saw First Century Bank place emphasis on $100,000 or less loans with 69 originations, totaling $4,415,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	28	$5,230,000	$186,786	$0	0.00%
$150k-250k	28	$8,620,000	$307,857	$0	0.00%
$50k-75k	28	$3,990,000	$142,500	$0	0.00%
$75k-100k	26	$5,240,000	$201,538	$0	0.00%
$250k+	25	$10,615,000	$424,600	$0	0.00%
$50k or less	18	$1,590,000	$88,333	$0	0.00%

First Century Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $150k-250k, with 28 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	211	$56,315,000	$266,896	$0	0.00%

First Century Bank lent most frequently to those with DTI ratios of Exempt%, with 211 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	154	$35,930,000	$233,312	$0	0.00%
Not applicable	52	$19,200,000	$369,231	$0	0.00%
Chinese	3	$975,000	$325,000	$0	0.00%
Black	2	$210,000	$105,000	$0	0.00%

Approval Rates

Total approvals of all applications
91.91%

First Century Bank has an average approval rate.

Pick Rate

Approvals leading to origination
81.52%

First Century Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	211	$56,315,000	$266,896

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	9	$12,105,000	$1,345,000
Single Family (1-4 Units):Manufactured	5	$715,000	$143,000
Single Family (1-4 Units):Site-Built	197	$43,495,000	$220,787

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	2	13.3%
FIRST HORIZON BANK	Conventional home mortgage	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	4	26.7%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	3	20.0%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Closing on a mortgage	2	13.3%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Century Bank	1780 North Broad Street Tazewell, TN 37879	Full Service B&M	$165,341
First Century Bank	108 Main Street Sneedville, TN 37869	Full Service B&M	$39,303
First Century Bank	1522 West Broadway Avenue Maryville, TN 37801	Full Service B&M	$38,722
First Century Bank	1771 North Broad St Tazewell, TN 37879	Limited, Drive-thru	$0
First Century Bank	2969 Maynardville Hwy Maynardville, TN 37807	Full Service B&M	$45,097
First Century Bank	301 North Broad Street New Tazewell, TN 37825	Full Service B&M	$59,090
First Century Bank	600 East Emory Powell, TN 37849	Full Service B&M	$30,409
First Century Bank	625 Market Street Knoxville, TN 37902	Full Service B&M	$22,346
First Century Bank	6946 Cumberland Gap Parkway Harrogate, TN 37752	Full Service B&M	$26,321

For 2020, First Century Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$19,442
Net interest income	$16,587
Total noninterest income	$3,741
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,046
Trading account gains and fees	$0
Additional Noninterest Income	$2,695
Pre-tax net operating income	$8,310
Securities gains (or losses, -)	$0
Income before extraordinary items	$6,521
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$6,521
Minority interest net income	$0
Net income	$6,521
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$6,521

First Century Bank's gross interest income from loans was $19,442,000.
First Century Bank's net interest income from loans was $16,587,000.
First Century Bank's fee based income from loans was $1,046,000.
First Century Bank's net income from loans was $6,521,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,855
Provision for credit losses	$175
Total noninterest expense	$11,843
Salaries and employee benefits	$7,201
Premises and equipment expense	$2,361
Additional noninterest expense	$2,281
Applicable income taxes	$1,789
Net charge-offs	$66
Cash dividends	$3,525

First Century Bank's interest expense for loans was $2,855,000.
First Century Bank's payroll and benefits expense were $7,201,000.
First Century Bank's property, plant and equipment expenses $2,361,000.

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	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$422,225
Deposits held in domestic offices	$422,225
Deposits by Individuals, partnerships, and corporations	$380,013
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$41,467
Deposits by Commercial banks and other depository institutions in U.S.	$745
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$219,799
Demand deposits	$105,413
Nontransaction accounts	$202,426
Money market deposit accounts (MMDAs)	$45,490
Other savings deposits (excluding MMDAs)	$67,200
Total time deposits	$89,736
Total time and savings deposits	$316,812
Noninterest-bearing deposits	$105,413
Interest-bearing deposits	$316,812
Retail deposits	$405,356
IRAs and Keogh plan accounts	$13,985
Brokered deposits	$6,292
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$468,718
Cash & Balances due from depository institutions	$41,185
Interest-bearing balances	$25,792
Total securities	$5,085
Federal funds sold & reverse repurchase	$52,221
Net loans and leases	$349,080
Loan and leases loss allowance	$4,681
Trading account assets	$0
Bank premises and fixed assets	$7,634
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$13,513

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$468,718
Total Liabilities	$426,875
Total deposits	$422,225
Interest-bearing deposits	$316,812
Deposits held in domestic offices	$422,225
% insured (estimated)	$81
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$4,650

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$349,080
Loan and leases loss allowance	$4,681
Total loans and leases (domestic)	$353,761
All real estate loans	$318,086
Real estate loans in domestic offices	$318,086
Construction and development loans	$38,154
Residential 1-4 family construction	$21,656
Other construction, all land development and other land	$16,498
Loans secured by nonfarm nonresidential properties	$119,256
Nonfarm nonresidential secured by owner-occupied properties	$67,908
Commercial real estate & other non-farm, non-residential	$51,348
Multifamily residential real estate	$16,657
1-4 family residential loans	$133,123
Farmland loans	$10,896
Loans held in foreign offices	$0
Farm loans	$115
Commercial and industrial loans	$29,810
To non-U.S. addressees	$0
Loans to individuals	$5,407
Credit card loans	$0
Related Plans	$630
Consumer Auto Loans	$580
Other loans to individuals	$4,197
All other loans & leases	$343
Loans to foreign governments and official institutions	$0
Other loans	$40
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$868
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$423
Non 1-4 family restructured loans & leases	$110
Total loans and leases (foreign)	$0

First Century Bank had $349,080,000 of loans outstanding in 2020. $318,086,000 of loans were in real estate loans. $38,154,000 of loans were in development loans. $16,657,000 of loans were in multifamily mortgage loans. $133,123,000 of loans were in 1-4 family mortgage loans. $115,000 of loans were in farm loans. $0 of loans were in credit card loans. $580,000 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	181	$48,295	$266,823
Nonfarm, nonresidential loans - <$100k	31	$1,768	$57,032
Nonfarm, nonresidential loans - $100-250k	67	$9,459	$141,179
Nonfarm, nonresidential loans - $250k-1MM	83	$37,068	$446,602
Commercial & Industrial, US addressed loans - <$1MM	476	$20,615	$43,309
Commercial & Industrial, US addressed loans - <$100k	386	$6,362	$16,482
Commercial & Industrial, US addressed loans - $100-250k	56	$5,222	$93,250
Commercial & Industrial, US addressed loans - $250k-1MM	34	$9,031	$265,618
Farmland loans - <$1MM	96	$9,770	$101,771
Farmland loans - <$100k	51	$2,409	$47,235
Farmland loans - $100-250k	36	$4,285	$119,028
Farmland loans - $250k-1MM	9	$3,076	$341,778
Agriculture operations loans - <$1MM	7	$115	$16,429
Agriculture operations loans - <$100k	7	$115	$16,429