Community 1st Bank was organized and capitalized in 2005. Local investors, many having been shareholders of local banks and savings and loans eagerly subscribed to the newest local opportunity. The Bank opened in February of 2006 and grew rapidly. At that time, Sacramento region property values and growth were fueled by land speculators, developers, builders and home buyers betting on rapid appreciation. The region experienced explosive development of major shopping centers, small businesses, single family homes and "McMansions". It seemed a dream for a new community bank.
It was a dream…The bubble burst!
In late 2008, an economic shock wave was felt across the country and around the world. Values plummeted on Wall Street and Main Street. Community 1st Bank's growth curve flattened and turned down. Loan officers focused on helping borrowers "hold-on"…many couldn't. Throughout 2009 and 2010, losses mounted, spirits weakened, and the legs grew tired.
With many businesses failing, it became obvious that a capital raise was imperative. In 2009, $2.6 million of TARP capital was added to support the Bank. During 2011, $7.4 million from private investors was additionally added to further fortify the Bank. The Board of Directors and Executive Team were revitalized with new faces and energy. In 2012, the economic downturn appeared to be bottoming out and our re-energized banking team focused on helping survivors rebuild and reaching out to new opportunities.
Today the economy is experiencing a slow, but seemingly steady recovery with many banks continuing to "hold back" as interest rates remain at historic lows. With the timing of the inevitable upward rate movement unknown, lenders remain cautious in their outreach for new customers. Banks have, however, been competing fiercely with one another in an effort to attract and retain the best customers. Community 1st Bank has proven a worthy competitor in this arena. Our team of seasoned banking veterans harbor long time customer relationships, local ties, and most importantly, have earned our customers trust.
In 2012 and 2013 our Bank experienced healthy growth. The Loan Division added proven Business Development Officers with ties to Nevada, Sacramento and El Dorado counties. Furthermore, a Loan Production Office was opened in Sacramento.
Community 1st Bank's strength is our people. People who share a commitment to our community and a passion to serve. A group of bankers who, having served in a number of different banks, have come together in a bank where our blend of experience and focus is producing unprecedented results. We often hear "this is how banking used to be".
We believe this is how banking should be!
Technology gives customers access to their accounts through ATM's, remote deposit capture, mobile banking, and other tools we now take for granted. The part of banking we do not take for granted is the RELATIONSHIP. Community 1st Bank, people you know and trust…here for you!
- Auburn Chamber of Commerce
- Auburn Interfaith Food Closet, Inc.
- Auburn Placer Performing Arts Center
- Boys & Girls Club of Placer County
- Eureka Youth Soccer Club
- Foresthill Divide Little League
- Friends of VinhSon Montagnard
- Placer Breast Cancer Endowment Fund
- Placer Care Coalition, Inc.
- Placer Community Foundation
- PHS Grad Night Committee
- Roseville City School District Fund
- Roseville Community Crime Stoppers
- Rotary Club of Roseville Foundation
- St. Baldrick's Foundation
- Sierra College Foundation
- Sutter Auburn Faith Hospital Foundation
- Tommy Apostolos Fund
Some of the organizations our employees volunteer for:
- Auburn Community Cancer Endowment
- Auburn Gold Country Rotary
- Bear River High School FFA
- Bear River Junior Bruins Football
- Boys & Girls Club
- California State University, Sacramento
- City of Roseville
- Foresthill Little League
- The Gathering Inn
- Gold Country Fairgrounds
- Knights of Columbus
- Roseville Firefighters
- St. Johns Shelter for Women & Children
- Santucci-Gaines Golf Tournament
- Sierra College School of Business
- Soroptomist International of Roseville
- Teach Children to Save
- Tommy Apostolos Fund