Question 1

What is First Century Bank, National Association?

Accepted Answer

First Century Bank, National Association is a specialized community bank headquartered in Commerce, Georgia. With approximately $706 million in total assets and 2 domestic offices, the bank operates under a national charter and is regulated by the Office of the Comptroller of the Currency (OCC).

First Century Bank is wholly owned by First Century Bancorp, a one-bank holding company located in Roswell, Georgia. The bank specializes in serving community associations, homeowners associations (HOAs), property management companies, and tax preparation businesses nationwide, alongside traditional retail and commercial banking customers.

Question 2

When was First Century Bank, National Association founded?

Accepted Answer

First Century Bank, National Association was established on March 25, 2002, receiving FDIC insurance coverage on the same date. The bank was founded to provide community-focused banking services in Northeast Georgia.

In December 2019, First Century Bank completed a significant merger with First Covenant Bank, a complementary institution with similar values. The two banks had been working together under a Master Services Agreement since 2008. This merger consolidated the banks' operations and expanded their combined capabilities, creating total assets of approximately $284 million at the time.

In September 2020, the bank relocated its main office from Hall County in Gainesville, Georgia to its current location in Jackson County in Commerce, Georgia.

Question 3

Where is First Century Bank, National Association headquartered?

Accepted Answer

First Century Bank, National Association is headquartered at 1731 North Elm Street in Commerce, Georgia 30529, located in Jackson County. The bank also operates a loan production office in Roswell, Georgia.

Question 4

Where does First Century Bank, National Association operate?

Accepted Answer

First Century Bank, National Association operates primarily in Georgia and South Carolina through its 2 full-service branch locations. The main office is located in Commerce, Georgia, in Jackson County.

In August 2020, the bank opened a branch in Hilton Head Island, Beaufort County, South Carolina. The bank also operates two stand-alone Automated Teller Machines (ATMs) in Commerce, Georgia, and maintains a loan production office in Roswell, Georgia.

While the bank has physical locations in these specific communities, its specialized business lines—particularly community association banking and tax refund advance programs—serve customers across multiple states nationwide.

Question 5

What services does First Century Bank, National Association offer?

Accepted Answer

First Century Bank, National Association offers a comprehensive suite of banking products and services including retail banking, commercial banking, mortgages, and corporate lending. Traditional deposit products include personal and business checking accounts, savings accounts, money market accounts, and certificates of deposit.

The bank provides various loan products including personal loans, business loans, automobile loans, residential mortgages, working capital lines of credit, equipment financing, and commercial real estate loans. First Century Bank also offers specialized loan programs for community associations, including financing for restoration of common areas, equipment purchases, building renovations, and facility expansions.

Digital banking services are a key offering, featuring online banking, mobile banking apps for iOS and Android devices, mobile bill pay, person-to-person payments, mobile check deposit, remote deposit capture, and two-factor authentication for enhanced security. The bank's mobile app provides balance viewing, transaction searches, and biometric login capabilities.

Additional services include lockbox services, ACH and fund transfers, wire transfers, merchant services, and online bill pay. The bank partners with Accounting Integrators (a CINC Systems solution) to provide integrated account management and real-time payment processing for community association clients.

Question 6

What makes First Century Bank, National Association unique?

Accepted Answer

First Century Bank, National Association distinguishes itself through its specialized focus on niche markets that larger banks often overlook. The bank has developed particular expertise in serving community associations, homeowners associations (HOAs), and property management companies nationwide.

For HOA clients, First Century Bank offers dedicated customer service through their "First Call" group, free Community Association checking accounts with no monthly maintenance fees, no lockbox fees, no remote deposit fees, and money market accounts with no minimum balance requirements. Residents can pay dues online using electronic checks or credit cards, and the bank provides seamless integration with industry-specific property management software.

Another unique aspect is the bank's tax refund advance loan program, which targets tax preparation companies, allowing them to offer short-term loans to their clients awaiting tax refunds. The bank also offers a self-credit builder program that enables customers to re-establish and improve their credit history.

Despite its smaller size with only 2 branches and 72 employees, First Century Bank leverages technology-driven delivery systems to serve customers across state lines. The bank's business model focuses on relationship banking with personalized service while utilizing sophisticated digital platforms to compete with larger institutions.

Question 7

What type of financial institution is First Century Bank, National Association?

Accepted Answer

First Century Bank, National Association is a National Bank operating under a federal charter. As a national bank, it is chartered and regulated by the Office of the Comptroller of the Currency (OCC) and is a member of the Federal Reserve System.

The bank is classified as a commercial bank that offers both retail and commercial banking services. More specifically, it is categorized as "Other Specialized Under 1 Billion," reflecting its targeted approach to serving specialized market segments such as community associations, property management companies, and tax preparation businesses, while maintaining assets under $1 billion.

As a community bank, First Century Bank maintains a strong local presence in its Georgia and South Carolina markets while extending certain specialized services nationally. The bank is not structured as an S-Corporation and operates with full FDIC insurance protection for depositors.

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