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First Century Bank Announces Creation of Employee Stimulus Plan

TAZEWELL, Tenn., April 23, 2020 – Local community bank, First Century Bank, creates a stimulus plan of their own. President and CEO, Rob Barger, announced today that First Century is giving every bank employee $250 extra dollars in their next paycheck, but there’s a stipulation, they are encouraged to spend the money at a local non-essential business impacted by the COVID-19 shutdown. Barger stated, “we are a community bank, and giving back to and supporting our local businesses is what we are about”. Barger went on to say, “when our local retailers and ‘mom & pops’ open back up on May 1st, we want our employees to be the first in line ready to transact business”.

The last 35 days have been extremely difficult on our community and employers. Barger sees the First Century employee stimulus as a small way to not only boost employee morale but help our community as well. “It’s the least we can do, given the difficult situation we have all experienced since early March,” said Barger.

First Century Bank has thrived over the last several years, recently recognized by Bank Street Partners as the Number One overall bank in the State of Tennessee, something the bank is very proud of. And just 18 months ago, First Century added their logo to the downtown Knoxville skyline with their 8th branch located at 625 Market Street.

Established in 1894, First Century Bank is a locally owned and operated institution. As a third-generation banker, Barger is proud of the fact that First Century has overcome difficult economic uncertainty over the last 126 years including: the great depression, two world wars, Vietnam, 9-11, the great recession, and now the COVID-19 pandemic.

Barger and the employees of First Century are challenging other banks and credit unions to consider doing a similar employee stimulus. “As an industry, we need to do our part to help our friends, neighbors, and local businesses return to prosperity”, said Barger.