With the construction of a permanent building under way, Millennia Community Bank has a lot to celebrate as officials anticipate the first profitable year in the institution's five-year history.

The bank broke ground on the $880,000 project on Feb. 1 and expects it to be completed by November. The 6,000-square-foot building will have offices upstairs and customer services downstairs. The new branch will be behind the mobile unit building at 1310 Arlington Blvd.

"It's flowing quite nicely," Larry Trapp, chief executive officer and president of the bank, said. "The loan problems we've got controlled now. Our delinquencies have gotten better, and the bank is just performing better overall."

In 2003, the bank faced sanctions from the Federal Deposit Insurance Corporation for what it deemed unsafe banking practices. The FDIC issued a cease and desist order against the bank and then-board chairman Herbert Gardner Jr., who was ordered to sever ties with the bank.

Trapp and business partner Don Baker were hired by the board last April to get the bank back on solid financial footing. Baker serves as the bank's chief operating officer.

The FDIC lifted its restrictions against the bank on Jan. 26, which was one of many milestones for Millennia. Late last year the bank opened a branch in the Kroger's supermarket. The bank employees four people, is full-service and is open on Saturdays from 10 a.m. to 4 p.m. The new location, Trapp said, is somewhat responsible for the net gain of 350 new customers.

Millennia also put ATMs in the Food Lion supermarkets around town. The bank has increased the number of new employees by five and also hired a mortgage specialist.

"We are no where near where I think we can go," Trapp said. "We're still like infants, but we have crossed some major huddles."

Latisha R. Gray can be contacted at lgray@coxnews.com or 329-9580