Citizens First Bank Mortgage Rates, Fees & Info

The Villages, FL

LEI: 549300IQVXIW1VTW0D69

Tax ID: 59-3018034

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Citizens First Bank is a smaller bank specializing in Home Purchase loans. Citizens First Bank has a high proportion of conventional loans. Their top markets by origination volume include: The Villages, Orlando, Ocala, Tampa, and Deltona among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens First Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Citizens First Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.12% 4/21/24
    30 Year Conventional Purchase 6.68% 4/21/24
    30 Year Cash-out Refi 6.75% 4/21/24
    15 Year Conventional Purchase 6.07% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Citizens First Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Citizens First Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,752

    Origination Dollar Volume (All Markets)

    $594,980,000

    Employee count

    336

    Awards

    Citizens First Bank 30 Year Conventional Loans gold
    Show all (1) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    THE VILLAGES, FL (FHA|USDA|VA) 2,318 $512,450,000 $221,074 $3,337 4.25%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 264 $51,220,000 $194,015 $2,971 4.43%
    OCALA, FL (FHA|USDA|VA) 162 $28,390,000 $175,247 $3,187 4.37%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $1,430,000 $715,000 $8,859 3.98%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $560,000 $280,000 $4,177 3.29%
    GAINESVILLE, FL (FHA|USDA|VA) 2 $440,000 $220,000 $4,628 5.13%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,844 4.19%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $6,005 4.95%
    Citizens First Bank's top markets include The Villages, Orlando, Ocala, Tampa, and Deltona among others.

    Their top states include:
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Citizens First Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    McCoy Federal Credit Union
    Similarity Rank: 342
    TrustCo Bank
    Similarity Rank: 780
    ADDITION FINANCIAL
    Similarity Rank: 910
    Citizens First Bank
    Similarity Rank: 1536
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1554
    FLORIDA
    Similarity Rank: 1640
    SPACE COAST Credit Union
    Similarity Rank: 1716
    Suncoast Credit Union
    Similarity Rank: 1794
    ARK-LA-TEX FINANCIAL SERVICES, LLC.
    Similarity Rank: 1910
    CAMPUS USA
    Similarity Rank: 2001

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,752 $594,980,000 $216,199 $3,297 4.28%

    For 2019, Citizens First Bank's most frequently originated type of loan was Conventional, with 2,752 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,472 $541,020,000 $218,859 $3,304 4.32%
    Cash Out Refi 277 $53,495,000 $193,123 $3,239 3.87%
    Refi 2 $370,000 $185,000 $2,414 4.29%
    Home Improvement 1 $95,000 $95,000 $3,119 5.03%

    For 2019, Citizens First Bank's most frequently cited loan purpose was Home Purchase, with 2,472 originations. The 2nd most popular reason was Cash Out Refi, with 277 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,089 $445,745,000 $213,377 $3,461 4.18%
    1 Year 348 $85,610,000 $246,006 $2,273 5.50%
    15 Year 252 $51,480,000 $204,286 $3,369 3.43%
    20 Year 42 $9,070,000 $215,952 $3,249 4.14%
    10 Year 19 $2,565,000 $135,000 $3,106 3.47%
    Other 2 $510,000 $255,000 $4,232 4.48%

    For 2019, Citizens First Bank's most frequently cited loan duration was 30 Year, with 2,089 originations. The 2nd most popular length was 1 Year, with 348 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,312 $486,180,000 $210,285
    $<1k 387 $93,745,000 $242,235
    $2k-3k 30 $7,400,000 $246,667
    $3k-4k 6 $1,880,000 $313,333
    $4k-5k 4 $1,300,000 $325,000
    $5k+ 3 $945,000 $315,000

    Citizens First Bank's average total fees were $3,461, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,312 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,138 $241,020,000 $211,793
    4-5% 1,127 $241,925,000 $214,663
    5-6% 438 $102,670,000 $234,406
    2.5-3% 48 $9,040,000 $188,333
    % 1 $325,000 $325,000

    During 2019, Citizens First Bank's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 3-4%, with 1,138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,273 $338,995,000 $266,296 $3,419 4.34%
    $100k-200k 1,091 $169,705,000 $155,550 $3,137 4.21%
    $100,000 or less 246 $17,900,000 $72,764 $2,734 4.21%
    $400k-600k 132 $60,010,000 $454,621 $4,275 4.28%
    $600k-1MM 7 $4,795,000 $685,000 $5,947 3.93%
    $1MM+ 3 $3,575,000 $1,191,667 $8,603 4.43%

    2019 saw Citizens First Bank place emphasis on $200k-400k loans with 1,273 originations, totaling $338,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 742 $176,990,000 $238,531 $3,318 4.31%
    $50k-75k 629 $109,915,000 $174,746 $3,118 4.28%
    $75k-100k 593 $124,695,000 $210,278 $3,234 4.30%
    $150k-250k 408 $110,880,000 $271,765 $3,608 4.24%
    $50k or less 252 $31,030,000 $123,135 $3,014 4.19%
    $250k+ 110 $36,480,000 $331,636 $4,080 4.17%

    Citizens First Bank lent most frequently to those with incomes in the $100k-150k range, with 742 originations. The second most popular income band? $50k-75k, with 629 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 489 $95,565,000 $195,429 $3,328 4.14%
    30-36% 458 $94,750,000 $206,878 $3,228 4.23%
    <20% 158 $29,030,000 $183,734 $3,256 4.13%
    47% 153 $33,805,000 $220,948 $3,449 4.25%
    49% 152 $33,980,000 $223,553 $3,391 4.28%
    48% 131 $30,205,000 $230,573 $3,394 4.25%
    42% 113 $26,565,000 $235,088 $3,474 4.40%
    44% 110 $25,010,000 $227,364 $3,406 4.18%
    38% 108 $24,540,000 $227,222 $3,342 4.32%
    41% 107 $23,705,000 $221,542 $3,281 4.38%
    45% 106 $24,660,000 $232,642 $3,253 4.38%
    43% 106 $24,270,000 $228,962 $3,280 4.38%
    40% 101 $21,805,000 $215,891 $3,340 4.24%
    46% 101 $22,075,000 $218,564 $3,328 4.28%
    39% 98 $23,050,000 $235,204 $3,183 4.28%
    36% 93 $21,695,000 $233,280 $3,508 4.21%
    50-60% 81 $18,445,000 $227,716 $2,384 5.39%
    37% 68 $15,870,000 $233,382 $3,412 4.06%
    >60% 9 $2,425,000 $269,444 $2,669 5.00%

    Citizens First Bank lent most frequently to those with DTI ratios of 20-30%, with 489 originations. The next most common DTI ratio? 30-36%, with 458 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,650 $571,690,000 $215,732 $3,293 4.28%
    Not provided 53 $11,445,000 $215,943 $3,352 4.17%
    Black 26 $5,590,000 $215,000 $3,462 4.21%
    Not applicable 9 $3,325,000 $369,444 $0 4.64%
    Asian 7 $1,565,000 $223,571 $4,235 4.41%
    American Indian 6 $1,270,000 $211,667 $3,313 4.27%
    Filipino 1 $95,000 $95,000 $1,170 5.63%

    Approval Rates

    Total approvals of all applications
    97.98%

    Citizens First Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    82.41%

    Citizens First Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,752 $594,980,000 $216,199

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 97 $10,035,000 $103,454
    Single Family (1-4 Units):Site-Built 2,655 $584,945,000 $220,318

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 264 $28,630,000 $108,447 $2,880 4.03%
    40-60% 433 $77,485,000 $178,949 $3,206 4.05%
    60-80% 966 $224,540,000 $232,443 $3,426 4.21%
    80-100% 1,031 $259,475,000 $251,673 $3,371 4.49%
    Under 20% 50 $3,100,000 $62,000 $2,312 4.29%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 4.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 6 2.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 20 8.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 81 34.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 13 5.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 11 4.7%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 9 3.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 8 3.4%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 52 22.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 2 0.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens First Bank 1050 Lake Sumter Landing The Villages, FL 32162 Full Service B&M $620,720
    Citizens First Bank 1129 Main Street The Villages, FL 32159 Full Service B&M $249,430
    Citizens First Bank 1130 Old Camp Road The Villages, FL 32162 Limited, Drive-thru $0
    Citizens First Bank 1500 Banderos Avenue The Villages, FL 32159 Full Service B&M $139,482
    Citizens First Bank 2420 Burnsed Boulevard The Villages, FL 32163 Full Service B&M $74,973
    Citizens First Bank 2601 West Torch Lake Drive The Villages, FL 32163 Full Service B&M $117,429
    Citizens First Bank 3290 U.S. Hwy 441/27 Fruitland Park, FL 34731 Full Service B&M $31,257
    Citizens First Bank 3430 Southern Trace The Villages, FL 32162 Full Service B&M $186,782
    Citizens First Bank 395 Colony Blvd The Villages, FL 32162 Full Service B&M $231,896
    Citizens First Bank 745 Kristine Way The Villages, FL 32163 Full Service B&M $30,939
    Citizens First Bank 800 West North Boulevard Leesburg, FL 34748 Full Service B&M $59,057
    Citizens First Bank 8590 S.E. 165th Mulberry Lane The Villages, FL 32159 Full Service B&M $135,878

    For 2019, Citizens First Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $78,667
    Net interest income $66,142
    Total noninterest income $24,548
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $630
    Trading account gains and fees $0
    Additional Noninterest Income $23,918
    Pre-tax net operating income $50,464
    Securities gains (or losses, -) $7,135
    Income before extraordinary items $46,071
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $46,071
    Minority interest net income $0
    Net income $46,071
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $40,363

    Citizens First Bank's gross interest income from loans was $78,667,000.
    Citizens First Bank's net interest income from loans was $66,142,000.
    Citizens First Bank's fee based income from loans was $630,000.
    Citizens First Bank's net income from loans was $46,071,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,525
    Provision for credit losses $1,850
    Total noninterest expense $38,376
    Salaries and employee benefits $22,837
    Premises and equipment expense $4,887
    Additional noninterest expense $10,652
    Applicable income taxes $11,528
    Net charge-offs $7
    Cash dividends $1,100

    Citizens First Bank's interest expense for loans was $12,525,000.
    Citizens First Bank's payroll and benefits expense were $22,837,000.
    Citizens First Bank's property, plant and equipment expenses $4,887,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,976,838
    Deposits held in domestic offices $1,976,838
    Deposits by Individuals, partnerships, and corporations $1,961,002
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $15,836
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $188,178
    Demand deposits $68,689
    Nontransaction accounts $1,788,660
    Money market deposit accounts (MMDAs) $1,273,000
    Other savings deposits (excluding MMDAs) $250,361
    Total time deposits $265,299
    Total time and savings deposits $1,908,149
    Noninterest-bearing deposits $354,230
    Interest-bearing deposits $1,622,608
    Retail deposits $1,943,512
    IRAs and Keogh plan accounts $20,755
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,462,753
    Cash & Balances due from depository institutions $60,516
    Interest-bearing balances $23,657
    Total securities $1,562,904
    Federal funds sold & reverse repurchase $37,089
    Net loans and leases $741,798
    Loan and leases loss allowance $9,940
    Trading account assets $0
    Bank premises and fixed assets $34,557
    Other real estate owned $0
    Goodwill and other intangibles $3,994
    All other assets $21,895

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,462,753
    Total Liabilities $2,150,237
    Total deposits $1,976,838
    Interest-bearing deposits $1,622,608
    Deposits held in domestic offices $1,976,838
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $157,267
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $16,132

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $741,798
    Loan and leases loss allowance $9,940
    Total loans and leases (domestic) $751,738
    All real estate loans $478,263
    Real estate loans in domestic offices $478,263
    Construction and development loans $76,402
    Residential 1-4 family construction $1,505
    Other construction, all land development and other land $74,897
    Loans secured by nonfarm nonresidential properties $164,162
    Nonfarm nonresidential secured by owner-occupied properties $55,689
    Commercial real estate & other non-farm, non-residential $108,473
    Multifamily residential real estate $5,588
    1-4 family residential loans $230,730
    Farmland loans $1,381
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $198,683
    To non-U.S. addressees $0
    Loans to individuals $1,692
    Credit card loans $0
    Related Plans $264
    Consumer Auto Loans $262
    Other loans to individuals $1,166
    All other loans & leases $73,099
    Loans to foreign governments and official institutions $0
    Other loans $137
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,500
    Non 1-4 family restructured loans & leases $3,421
    Total loans and leases (foreign) $0

    Citizens First Bank had $741,798,000 of loans outstanding in 2019. $478,263,000 of loans were in real estate loans. $76,402,000 of loans were in development loans. $5,588,000 of loans were in multifamily mortgage loans. $230,730,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $262,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 144 $44,868 $311,583
    Nonfarm, nonresidential loans - <$100k 20 $979 $48,950
    Nonfarm, nonresidential loans - $100-250k 37 $4,738 $128,054
    Nonfarm, nonresidential loans - $250k-1MM 87 $39,151 $450,011
    Commercial & Industrial, US addressed loans - <$1MM 129 $17,587 $136,333
    Commercial & Industrial, US addressed loans - <$100k 67 $2,760 $41,194
    Commercial & Industrial, US addressed loans - $100-250k 33 $3,506 $106,242
    Commercial & Industrial, US addressed loans - $250k-1MM 29 $11,321 $390,379
    Farmland loans - <$1MM 1 $165 $165,000
    Farmland loans - $100-250k 1 $165 $165,000