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, Asheville, and Kingsport among others. We have data for 9 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.

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Originations

301

Origination Dollar Volume (All Markets)

$70,275,000

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)	196	$47,260,000	$241,122	$0	0.00%
Outside of Metro Areas	63	$12,225,000	$194,048	$0	0.00%
Sevierville, TN (FHA\|USDA\|VA)	17	$4,695,000	$276,176	$0	0.00%
MORRISTOWN, TN (FHA\|USDA\|VA)	16	$3,710,000	$231,875	$0	0.00%
ASHEVILLE, NC (FHA\|USDA\|VA)	1	$1,075,000	$1,075,000	$0	0.00%
KINGSPORT-BRISTOL, TN-VA (FHA\|USDA\|VA)	4	$670,000	$167,500	$0	0.00%
Cookeville, TN (FHA\|USDA\|VA)	2	$270,000	$135,000	$0	0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$205,000	$205,000	$0	0.00%
Athens, TN (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	0.00%

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

Their top states include:

Tennessee (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	301	$70,275,000	$233,472	$0	0.00%

For 2021, First Century Bank's most frequently originated type of loan was Conventional, with 301 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	226	$59,210,000	$261,991	$0	0.00%
Refi	64	$9,760,000	$152,500	$0	0.00%
Home Improvement	9	$1,135,000	$126,111	$0	0.00%
Other	2	$170,000	$85,000	$0	0.00%

For 2021, First Century Bank's most frequently cited loan purpose was Home Purchase, with 226 originations. The 2nd most popular reason was Refi, with 64 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	301	$70,275,000	$233,472	$0	0.00%

For 2021, First Century Bank's most frequently cited loan duration was Other, with 301 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	103	$15,135,000	$146,942	$0	0.00%
$200k-400k	82	$22,670,000	$276,463	$0	0.00%
$100,000 or less	70	$4,530,000	$64,714	$0	0.00%
$400k-600k	30	$14,060,000	$468,667	$0	0.00%
$600k-1MM	11	$7,865,000	$715,000	$0	0.00%
$1MM+	5	$6,015,000	$1,203,000	$0	0.00%

2021 saw First Century Bank place emphasis on $100k-200k loans with 103 originations, totaling $15,135,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	52	$14,930,000	$287,115	$0	0.00%
$100k-150k	46	$12,540,000	$272,609	$0	0.00%
$250k+	38	$12,060,000	$317,368	$0	0.00%
$50k-75k	36	$6,120,000	$170,000	$0	0.00%
$50k or less	36	$3,940,000	$109,444	$0	0.00%
$75k-100k	27	$5,855,000	$216,852	$0	0.00%

First Century Bank lent most frequently to those with incomes in the $150k-250k range, with 52 originations. The second most popular income band? $100k-150k, with 46 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	301	$70,275,000	$233,472	$0	0.00%

First Century Bank lent most frequently to those with DTI ratios of Exempt%, with 301 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	239	$57,185,000	$239,268	$0	0.00%
Not applicable	61	$13,005,000	$213,197	$0	0.00%
Black	1	$85,000	$85,000	$0	0.00%

Approval Rates

Total approvals of all applications
91.89%

First Century Bank has an average approval rate.

Pick Rate

Approvals leading to origination
72.09%

First Century Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	301	$70,275,000	$233,472

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	301	$70,275,000	$233,472

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	6	17.6%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Struggling to pay mortgage	1	2.9%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	2	5.9%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	2	5.9%
FIRST HORIZON BANK	FHA mortgage	Closing on a mortgage	1	2.9%
FIRST HORIZON BANK	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	2.9%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	10	29.4%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	1	2.9%
FIRST HORIZON BANK	Conventional home mortgage	Closing on a mortgage	2	5.9%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	2	5.9%
FIRST HORIZON BANK	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	2.9%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	2.9%
FIRST HORIZON BANK	Other type of mortgage	Closing on a mortgage	2	5.9%
FIRST HORIZON BANK	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	2	5.9%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Century Bank	108 Main Street Sneedville, TN 37869	Full Service B&M	$46,863
First Century Bank	1522 West Broadway Avenue Maryville, TN 37801	Full Service B&M	$47,114
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	$146,384
First Century Bank	2969 Maynardville Hwy Maynardville, TN 37807	Full Service B&M	$53,550
First Century Bank	301 North Broad Street New Tazewell, TN 37825	Full Service B&M	$71,718
First Century Bank	600 East Emory Powell, TN 37849	Full Service B&M	$32,450
First Century Bank	625 Market Street Knoxville, TN 37902	Full Service B&M	$41,591
First Century Bank	6946 Cumberland Gap Parkway Harrogate, TN 37752	Full Service B&M	$27,509

For 2021, First Century Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$20,169
Net interest income	$18,799
Total noninterest income	$3,258
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,002
Trading account gains and fees	$0
Additional Noninterest Income	$2,256
Pre-tax net operating income	$9,338
Securities gains (or losses, -)	$0
Income before extraordinary items	$7,077
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,077
Minority interest net income	$0
Net income	$7,077
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,077

First Century Bank's gross interest income from loans was $20,169,000.
First Century Bank's net interest income from loans was $18,799,000.
First Century Bank's fee based income from loans was $1,002,000.
First Century Bank's net income from loans was $7,077,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,370
Provision for credit losses	$240
Total noninterest expense	$12,479
Salaries and employee benefits	$7,511
Premises and equipment expense	$1,477
Additional noninterest expense	$3,491
Applicable income taxes	$2,261
Net charge-offs	$-137
Cash dividends	$3,560

First Century Bank's interest expense for loans was $1,370,000.
First Century Bank's payroll and benefits expense were $7,511,000.
First Century Bank's property, plant and equipment expenses $1,477,000.

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	$471,659
Deposits held in domestic offices	$471,659
Deposits by Individuals, partnerships, and corporations	$424,163
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$47,000
Deposits by Commercial banks and other depository institutions in U.S.	$496
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$261,640
Demand deposits	$134,518
Nontransaction accounts	$210,019
Money market deposit accounts (MMDAs)	$45,076
Other savings deposits (excluding MMDAs)	$91,874
Total time deposits	$73,069
Total time and savings deposits	$337,141
Noninterest-bearing deposits	$134,518
Interest-bearing deposits	$337,141
Retail deposits	$458,252
IRAs and Keogh plan accounts	$13,581
Brokered deposits	$3,677
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$521,941
Cash & Balances due from depository institutions	$49,480
Interest-bearing balances	$36,163
Total securities	$3,232
Federal funds sold & reverse repurchase	$43,792
Net loans and leases	$403,348
Loan and leases loss allowance	$5,057
Trading account assets	$0
Bank premises and fixed assets	$7,665
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$14,424

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$521,941
Total Liabilities	$476,632
Total deposits	$471,659
Interest-bearing deposits	$337,141
Deposits held in domestic offices	$471,659
% insured (estimated)	$76
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$4,973

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$403,348
Loan and leases loss allowance	$5,057
Total loans and leases (domestic)	$408,405
All real estate loans	$379,339
Real estate loans in domestic offices	$379,339
Construction and development loans	$53,095
Residential 1-4 family construction	$30,964
Other construction, all land development and other land	$22,131
Loans secured by nonfarm nonresidential properties	$150,942
Nonfarm nonresidential secured by owner-occupied properties	$72,462
Commercial real estate & other non-farm, non-residential	$78,480
Multifamily residential real estate	$17,375
1-4 family residential loans	$144,057
Farmland loans	$13,870
Loans held in foreign offices	$0
Farm loans	$250
Commercial and industrial loans	$23,447
To non-U.S. addressees	$0
Loans to individuals	$5,109
Credit card loans	$0
Related Plans	$468
Consumer Auto Loans	$743
Other loans to individuals	$3,898
All other loans & leases	$260
Loans to foreign governments and official institutions	$0
Other loans	$84
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$1,433
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$391
Non 1-4 family restructured loans & leases	$100
Total loans and leases (foreign)	$0

First Century Bank had $403,348,000 of loans outstanding in 2021. $379,339,000 of loans were in real estate loans. $53,095,000 of loans were in development loans. $17,375,000 of loans were in multifamily mortgage loans. $144,057,000 of loans were in 1-4 family mortgage loans. $250,000 of loans were in farm loans. $0 of loans were in credit card loans. $743,000 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	197	$56,700	$287,817
Nonfarm, nonresidential loans - <$100k	24	$1,171	$48,792
Nonfarm, nonresidential loans - $100-250k	72	$9,686	$134,528
Nonfarm, nonresidential loans - $250k-1MM	101	$45,843	$453,891
Commercial & Industrial, US addressed loans - <$1MM	472	$18,849	$39,934
Commercial & Industrial, US addressed loans - <$100k	386	$6,797	$17,609
Commercial & Industrial, US addressed loans - $100-250k	61	$5,260	$86,230
Commercial & Industrial, US addressed loans - $250k-1MM	25	$6,792	$271,680
Farmland loans - <$1MM	85	$8,250	$97,059
Farmland loans - <$100k	44	$2,145	$48,750
Farmland loans - $100-250k	34	$3,440	$101,176
Farmland loans - $250k-1MM	7	$2,665	$380,714
Agriculture operations loans - <$1MM	12	$250	$20,833
Agriculture operations loans - <$100k	12	$250	$20,833