The community's name is an acronym for the Florida-Alabama Land Company, which harvested timber in the area.[2] Falco was founded by members of the Florida-Alabama Land Company in 1903. The community was home to a large sawmill, the Falco Bank, Falcola Bottling Company, a 40-room hotel, a grist mill and general stores. A two-story railroad depot sat near the logging railroads, which connected to the Central of Georgia and L&N lines. The town began to decline after a fire destroyed the saw mill in 1925. The mill was then moved to Willow, Florida.[3] A post office operated under the name Falco from 1903 to 1955.[4]