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First Century Bank Review

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First Century Bank Savings
0.20% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Founded in 1899, First Century Bank has $348 million in assets and deposits totaling $309 million, ranking the institution as a small bank. First Century Bank, whose headquarters are in Tazewell, Tennessee, 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 apps. Overall, First Century Bank is a respectable bank that deserves your consideration, with a score of 4.0 out of 5 stars from our experts. First Century Bank offers the full slate of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. The bank's standard checking product carries a monthly fee of $5.00, making it a rather expensive bank for checking. Finding a checking account with no monthly fee and a savings account with a high APY at the same institution is the best option for getting 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 0.20%, which is poor in comparison to other U.S. banks. First Century Bank's one-year and five-year term lengths CDs earn at a rate of 1.28% and 1.61%, respectively. Given its poor 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 0.20 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

First Century Bank charges its customers high fees compared to other U.S. banks. At $5.00/month, First Century Bank is less than great for people who want a simple checking account. First Century Bank does not reimburse out-of-network ATM fees, meaning you'll need to search for a First Century Bank ATM or pay the ATM charge.

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 an easy mobile-banking experience. First Century Bank's online and mobile banking services get moderately decent ratings from users. The First Century Bank mobile app has been given a 4.4 out of 5 (out of 28 ratings on Apple and Android) compared to the national average of 3.8. You can utilize First Century Bank's app to manage your bank accounts by monitoring monthly statements, sending and receiving money as well as reaching customer service. First Century Bank receives a superb consumer satisfaction rating due to comparatively few consumer complaints brought to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

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 with $348 million in assets and deposits totaling $309 million. First Century Bank has an excellent Texas Ratio of 3.11%, denoting that First Century Bank is in terrific financial well-being and unlikely to fail. 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 0.2% APY $1
Checking Account 0.17% APY $1500
Certificates of Deposit
  • 12 Month: 1.28% APY
  • 24 Month: 1.26% APY
  • 36 Month: 3.04% APY
  • 48 Month: 1.53% APY
  • 60 Month: 1.61% 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 other options 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 in comparison to the average U.S. bank.

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Find a First Century Bank Near Me

First Century Bank has nine physical branches across the U.S.

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