First Community Bank: Empowering the San Benito Community and Beyond

Introduction

Established in 1904, First Community Bank has been an integral part of the San Benito, Texas community for over a century. With a deep-rooted history, commitment to financial stability, and impactful community initiatives, the bank has evolved to meet the evolving needs of its customers and the region it serves.

Mission and Core Values

First Community Bank's mission is to provide exceptional banking services and financial solutions that empower customers and contribute to the economic prosperity of the community. Guided by the core values of integrity, innovation, service, and community engagement, the bank consistently strives to uphold the highest standards of banking practices.

Financial Stability and Growth

First Community Bank maintains a strong financial position with a Tier 1 Leverage Ratio of 10.26% as of December 31, 2022, significantly exceeding the federal regulatory requirement of 8%. The bank's total assets reached $905 million in 2022, demonstrating its steady growth and stability.

Comprehensive Banking Services

First Community Bank offers a comprehensive range of banking products and services, including:

• Checking and Savings Accounts: Customizable account options to meet various financial needs.
• Certificates of Deposit: Secured investments with competitive interest rates.
• Loans: Commercial, consumer, and mortgage loans tailored to specific financial situations.
• Online and Mobile Banking: Convenient banking at customers' fingertips.

Community Involvement and Impact

Beyond providing financial services, First Community Bank is deeply committed to giving back to the San Benito community and the Rio Grande Valley region. The bank's involvement includes:

• Charitable Giving: Supports local organizations focused on education, healthcare, the arts, and community development.
• Volunteerism: Encourages employees to volunteer their time and expertise to community initiatives.
• Economic Development Partnerships: Collaborates with local businesses and economic development organizations to promote growth and prosperity.

Effective Strategies for Financial Success

First Community Bank attributes its success to several key strategies:

• Customer-Centric Approach: Prioritizing the financial well-being of customers through personalized services and solutions.
• Technology Adoption: Embracing digital innovation to enhance customer convenience and efficiency.
• Employee Development: Investing in employee training and empowerment to foster a highly skilled and motivated workforce.
• Community Partnerships: Building strong relationships with community organizations to create a positive impact.

Stories of Empowerment

Over the years, First Community Bank has played a significant role in empowering its customers and the community. Here are three inspiring stories:

Story 1:

In 2021, a local entrepreneur received a business loan from First Community Bank to expand his construction company. The loan enabled him to purchase new equipment, hire additional workers, and take on larger projects, ultimately boosting his company's revenue and creating new jobs in the community.

Story 2:

A young student from a low-income family received a scholarship from First Community Bank to attend college. The scholarship covered tuition, fees, and living expenses, allowing the student to pursue their education and break the cycle of poverty.

Story 3:

A local community center partnered with First Community Bank to establish a financial literacy program for underserved families. The bank provided funding and volunteer support, empowering participants to manage their finances, build credit, and improve their overall financial well-being.

Common Mistakes to Avoid

While working with a bank, individuals and businesses should be mindful of the following common mistakes:

• Not Shopping Around: Comparing offers from multiple financial institutions to secure the most favorable terms.
• Taking on Too Much Debt: Carefully considering the amount of debt you can afford and avoiding overextending yourself financially.
• Ignoring Interest Rates: Paying attention to interest rates on loans and deposits to optimize your financial strategy.
• Neglecting Credit Health: Monitoring your credit score and taking steps to improve it if necessary.
• Falling for Scams: Being aware of banking scams and protecting your personal and financial information.

Call to Action

If you are looking for a trusted financial partner committed to your success, consider First Community Bank. With its exceptional banking services, unwavering financial stability, and unwavering community involvement, First Community Bank stands ready to empower you and your financial aspirations.

Contact Information:

First Community Bank
300 N. Sam Houston Blvd.
San Benito, TX 78586

Phone: (956) 399-5171
Website: www.firstcommunity.bank

Additional Resources:

• Federal Deposit Insurance Corporation (FDIC)
• Consumer Financial Protection Bureau (CFPB)
• American Bankers Association (ABA)

Tables

Table 1: Financial Performance Indicators

Table 2: Community Involvement

Table 3: Common Banking Mistakes