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First Century Bank Review

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First Century Bank Savings
0.41% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


First Century Bank first started operating in 1899 with headquarters in Tazewell, Tennessee. First Century Bank owns assets of $348 million and $309 million in deposits, making it a small bank. First Century Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a commendable 4 stars out of 5, First Century Bank is a good bank that gets the job done. First Century Bank has the complete slate of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. First Century Bank has a fair savings rate; you can find higher rates with other banks. The bank's standard checking account carries a $5.00 monthly fee, although banks sometimes have requirements that allow you to waive the fee. Obtaining a checking account with no monthly fee and a savings account with a high APY at the same bank is your best bet for accruing the most income on your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

First Century Bank features a savings rate of 0.41%, which is fair compared to the average U.S. bank. Its one-year CD has a rate of 1.28% and the five-year CD earns at a rate of 1.73%. Given its below average savings rate, you should consider opting for higher earning savings accounts with other banks.

How First Century Bank's Savings Rates Compare

First Century Bank Savings 0.41 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

First Century Bank charges its customers high fees in comparison to other U.S. banks. First Century Bank's checking account has a monthly fee of $5.00, rating it fair for anyone looking for a hassle-free account. First Century Bank unfortunately doesn't reimburse out-of-network ATM charges, which means you will be required to search for a First Century Bank ATM or pay the cost of withdrawal.

Monthly Fee $5.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

First Century Bank is a brick-and-mortar bank, with nine total bank locations in Tennessee. It also offers access to mobile and web apps for easy access and banking on the go. First Century Bank receives fairly decent feedback from customers for its mobile banking services. With 28 customer reviews across both Apple and Android platforms, the First Century Bank mobile app is scored at 4.4 out of 5 (compared to the national average of 3.8). First Century Bank's mobile app allows you to control your accounts by checking monthly statements, sending and receiving money as well as accessing support representatives. First Century Bank receives a superb consumer satisfaction rating due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

First Century Bank is a small bank owning assets totaling $348 million and deposits totaling $309 million. It has an excellent Texas Ratio of 3.11%, indicating a minute likelihood of failure. Additionally, First Century Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare First Century Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.41% APY $100
Checking Account 0.34% APY $1500
Certificates of Deposit
  • 12 Month: 1.28% APY
  • 24 Month: 1.36% APY
  • 36 Month: 3.04% APY
  • 48 Month: 1.68% APY
  • 60 Month: 1.73% APY
$1000 for all terms

First Century Bank offers several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Century Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First Century Bank's CD rates are fair as compared against the national average.

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Find a First Century Bank Near Me

First Century Bank has nine physical locations in the U.S.

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