Premier Bank was established in 2007 as First Community Bank (FCB) to operate according to Islamic Shari'ah law by private Muslim investors in Kuwait, Kenya and Tanzania.

The FCB is the first Kenya-based fully fledged bank to operate according to the laws of Shari'ah.

[4][5] The bank's first subsidiary is FCB Takful Insurance Broker, in which it maintains 100% shareholding.

[6] The bank also owns a second subsidiary, FCB Capital Limited, the first Sharia-compliant Investment capital in Kenya, wholly owned by First Community Bank.

[7] As of March 2020[update], the bank maintains a network of branches at the following locations:[8]