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Your Community Bank – Asheville NC

Across The Carolinas 2 min read

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At First Bank, we believe that part of being your community bank in Asheville, NC, means offering services that meet the needs of everyone. From checking and savings accounts to mortgages and personal loans, First Bank proudly offers the services you expect from a commercial bank with the personalized care you need from a community one.

From the delectable culinary scene to the culture-filled music and arts scene, Asheville, North Carolina is a city rooted in community values. First Bank understands the importance of community values, and we pride ourselves on being your community bank in Asheville, NC.

The Asheville Community Bank That Meets Your Needs

Our services offered include:

Personal Banking

First Bank offers personal banking services to meet a variety of individual needs—from checking accounts for college students to home equity lines of credit. Our services include:

Business Banking

If you are thinking of starting a business in Asheville or already have an established business, First Bank’s business banking options could help you thrive. We offer:

Mortgages

Ready to buy a house in the Asheville area? First Bank offers a variety of mortgage loans, including:

Your Community Bank - Asheville NC

Choose First Bank

First Bank started in Troy, NC, where we helped a small community recover from losing its only bank at the beginning of the Great Depression. After that we were known for helping local businesses and farmers handle their finances. We continued to grow, and today we serve customers in North Carolina and South Carolina at more than 100 locations.

If you want to read more about home ownership, check out our online Financial Education Center for more mortgage articles or our mortgage loan calculator.

Make First Bank your community bank. We have 13 locations throughout Western North Carolina, so it’s easy to visit your nearest branch today.


Investment and Insurance Products are NOT Bank Deposits, NOT FDIC-Insured, HAVE NO Bank Guarantee, NOT Insured by any Federal Government Agency, May Go Down in Value. Loans subject to credit approval.

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Image for tile. First Bank partners with Habitat for Humanity to promote housing affordability There’s no place like home for the holidays. The benefits of homeownership reach far beyond the financial investment and earned equity. Owning a home means long-term security and stability for individuals, families, and economies to thrive. This holiday season, we’re reflecting on our Power of Good commitment to Housing Affordability and our partnership with Habitat for Humanity. “Greater tax generation, creation of jobs, opportunities for economic development, increased job retention and productivity, and the ability to address inequality — all are among the economic benefits of increased access to quality, affordable housing.” – Habitat for Humanity   What does housing-affordability mean? While many factors impact what affordable means to each buyer, housing policymakers generally use the 30% rule that states no more than 30% of your income should be spent on housing. In areas where the average home prices and rental rates exceed the 30% rule for the average citizen’s income, housing is deemed unaffordable and residents are considered to be housing cost-burdened. Nationwide, U.S. Census Bureau data shows that 40% of renters meet the definition of cost-burdened. Additionally, an October 2023 report from Redfin suggests that homebuyers must now earn a $115,000 annual salary to afford the median-priced U.S. home – that’s up more than 50% since the start of the COVID-19 pandemic. Housing affordability snapshot on the Carolinas As population growth continues to rise across North and South Carolina, it’s proving difficult to keep up with the increase in demand for housing. Many experts point to the combination of limited supply and growing demand for the sharp rise in housing costs. Cost-burdened households in North Carolina represent 45% of renters and 19% of homeowners while in South Carolina those numbers are 50% and 25% respectively.   What are the impacts of cost-burdened households? Households that spend more than 30% of their budget on housing oftentimes experience a snowball effect on other areas of their budget. Many housing cost-burdened households experience food insecurity and are forced to make difficult decisions like choosing between paying a bill or seeking medical care. This also makes it difficult to save for emergencies in the future, and places more reliance on credit card spending. When these difficult circumstances at an individual level become compounded, the entire community’s wellbeing becomes marginalized. First Bank’s commitment to affordable housing As a First Bank client, you’ve made the decision to invest in your community. Our designation as a community bank means that we will always prioritize investing in the communities where we do business. Unlike banks who operate nationally or globally, First Bank is committed to the Carolinas. Banking with First Bank allows you to keep your hard-earned money within your community – where it can do the most good for your neighbors. Our First Bank Power of Good corporate citizenship program has made the following investments in affordable housing: 6 min read