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

Review & Overview

Citizens First Bank is a small 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, Homosassa Springs, and Jacksonville 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.12%	12/16/24
30 Year Conventional Purchase	6.68%	12/16/24
30 Year Cash-out Refi	6.75%	12/16/24
15 Year Conventional Purchase	6.07%	12/16/24
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

Purchase Price:

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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

4,055

Origination Dollar Volume (All Markets)

$1,027,945,000

Employee count

404

Awards

Citizens First Bank 30 Year Conventional Loans silver

Citizens First Bank 30 Year Conventional Loans gold

Show all (2) 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)	3,559	$917,365,000	$257,759	$3,702	3.14%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	286	$62,170,000	$217,378	$3,310	3.19%
OCALA, FL (FHA\|USDA\|VA)	194	$44,060,000	$227,113	$3,460	3.24%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	10	$2,160,000	$216,000	$4,690	3.21%
JACKSONVILLE, FL (FHA\|USDA\|VA)	2	$1,170,000	$585,000	$5,923	2.78%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	2	$480,000	$240,000	$3,677	3.16%
GAINESVILLE, FL (FHA\|USDA\|VA)	1	$305,000	$305,000	$5,031	3.73%
PUNTA GORDA, FL (FHA\|USDA\|VA)	1	$235,000	$235,000	$7,780	3.45%

Citizens First Bank's top markets include The Villages, Orlando, Ocala, Homosassa Springs, and Jacksonville 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.

LAUNCH FEDERAL CREDIT UNION
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LOANFLIGHT LENDING, LLC
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TrustCo Bank
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PARK SQUARE HOME MORTGAGE, LLC
Similarity Rank: 2496

Citizens First Bank
Similarity Rank: 2504

Auto Club Trust, FSB
Similarity Rank: 2592

FLORIDA
Similarity Rank: 2926

OCEANSIDE MORTGAGE COMPANY
Similarity Rank: 3168

BANKERS MORTGAGE LENDING, INC.
Similarity Rank: 3195

Advisors Mortgage Group, L.L.C.
Similarity Rank: 3348

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	4,055	$1,027,945,000	$253,501	$3,668	3.15%

For 2021, Citizens First Bank's most frequently originated type of loan was Conventional, with 4,055 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	3,395	$898,915,000	$264,776	$3,744	3.17%
Cash Out Refi	659	$128,935,000	$195,653	$3,281	3.02%
Refi	1	$95,000	$95,000	$2,813	2.43%

For 2021, Citizens First Bank's most frequently cited loan purpose was Home Purchase, with 3,395 originations. The 2nd most popular reason was Cash Out Refi, with 659 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	3,221	$810,185,000	$251,532	$3,744	3.13%
15 Year	496	$119,920,000	$241,774	$3,608	2.53%
1 Year	272	$84,800,000	$311,765	$2,874	4.50%
20 Year	44	$9,670,000	$219,773	$3,318	3.13%
10 Year	17	$2,595,000	$152,647	$3,545	2.65%
Other	3	$405,000	$135,000	$0	3.95%
30+ year	1	$135,000	$135,000	$5,747	3.95%
5 Year	1	$235,000	$235,000	$0	3.55%

For 2021, Citizens First Bank's most frequently cited loan duration was 30 Year, with 3,221 originations. The 2nd most popular length was 15 Year, with 496 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	3,558	$883,710,000	$248,373
$<1k	398	$114,800,000	$288,442
$2k-3k	46	$13,870,000	$301,522
$3k-4k	19	$4,325,000	$227,632
$4k-5k	9	$2,685,000	$298,333
$5k+	8	$2,600,000	$325,000

Citizens First Bank's average total fees were $3,744, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,558 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	1,951	$494,955,000	$253,693
2.5-3%	1,461	$359,735,000	$246,225
4-5%	359	$108,085,000	$301,072
<2.5%	284	$65,170,000	$229,472

During 2021, Citizens First Bank's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 1,951 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	2,196	$602,000,000	$274,135	$3,751	3.19%
$100k-200k	1,227	$192,195,000	$156,638	$3,287	3.09%
$400k-600k	399	$189,425,000	$474,749	$4,575	3.17%
$100,000 or less	199	$14,875,000	$74,749	$2,959	2.98%
$600k-1MM	27	$18,525,000	$686,111	$5,261	3.41%
$1MM+	7	$10,925,000	$1,560,714	$8,481	3.32%

2021 saw Citizens First Bank place emphasis on $200k-400k loans with 2,196 originations, totaling $602,000,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	1,073	$298,675,000	$278,355	$3,799	3.13%
$75k-100k	830	$196,210,000	$236,398	$3,544	3.16%
$50k-75k	825	$163,915,000	$198,685	$3,401	3.16%
$150k-250k	727	$228,835,000	$314,766	$3,971	3.14%
$50k or less	354	$49,180,000	$138,927	$3,224	3.13%
$250k+	216	$81,550,000	$377,546	$4,269	3.15%

Citizens First Bank lent most frequently to those with incomes in the $100k-150k range, with 1,073 originations. The second most popular income band? $75k-100k, with 830 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	709	$174,755,000	$246,481	$3,651	3.12%
20-30%	701	$164,285,000	$234,358	$3,614	3.08%
<20%	249	$56,635,000	$227,450	$3,599	3.00%
48%	203	$52,615,000	$259,187	$3,741	3.11%
47%	194	$53,210,000	$274,278	$3,719	3.11%
44%	190	$48,800,000	$256,842	$3,738	3.15%
43%	183	$44,905,000	$245,383	$3,632	3.15%
41%	178	$45,910,000	$257,921	$3,675	3.18%
42%	175	$50,965,000	$291,229	$3,891	3.20%
40%	171	$45,575,000	$266,520	$3,845	3.16%
45%	164	$44,990,000	$274,329	$3,653	3.18%
46%	164	$44,000,000	$268,293	$3,829	3.18%
49%	148	$39,040,000	$263,784	$3,801	3.14%
39%	147	$39,015,000	$265,408	$3,707	3.16%
38%	142	$32,600,000	$229,577	$3,621	3.14%
37%	137	$34,825,000	$254,197	$3,499	3.13%
36%	124	$32,360,000	$260,968	$3,573	3.17%
50-60%	54	$16,140,000	$298,889	$2,845	4.46%
>60%	5	$1,365,000	$273,000	$2,899	4.50%

Citizens First Bank lent most frequently to those with DTI ratios of 30-36%, with 709 originations. The next most common DTI ratio? 20-30%, with 701 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	3,733	$941,615,000	$252,241	$3,656	3.14%
Not provided	213	$56,625,000	$265,845	$3,836	3.16%
Asian	44	$11,780,000	$267,727	$3,796	3.14%
Black	37	$9,435,000	$255,000	$3,876	3.24%
Not applicable	14	$5,700,000	$407,143	$0	3.90%
American Indian	10	$2,220,000	$222,000	$3,486	3.07%
Native Hawaiian or Islander	3	$465,000	$155,000	$3,522	3.01%
Other Asian	1	$105,000	$105,000	$4,375	2.98%

Approval Rates

Total approvals of all applications
98.20%

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
82.15%

Citizens First Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	4,055	$1,027,945,000	$253,501

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	4,055	$1,027,945,000	$253,501

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	419	$57,305,000	$136,766	$3,222	2.91%
40-60%	772	$161,600,000	$209,326	$3,492	3.01%
60-80%	1,533	$426,985,000	$278,529	$3,819	3.16%
80-100%	1,292	$379,190,000	$293,491	$3,765	3.30%
Under 20%	39	$2,865,000	$73,462	$2,867	2.87%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	54	15.6%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Closing on a mortgage	22	6.3%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Improper use of your report	1	0.3%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Incorrect information on your report	6	1.7%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Problem with a credit reporting company's investigation into an existing problem	3	0.9%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Struggling to pay mortgage	27	7.8%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Trouble during payment process	116	33.4%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	7	2.0%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Closing on a mortgage	4	1.2%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Struggling to pay mortgage	15	4.3%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Trouble during payment process	19	5.5%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	7	2.0%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Closing on a mortgage	4	1.2%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Incorrect information on your report	2	0.6%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Struggling to pay mortgage	2	0.6%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Trouble during payment process	27	7.8%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	5	1.4%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Closing on a mortgage	3	0.9%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Improper use of your report	1	0.3%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Incorrect information on your report	1	0.3%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Struggling to pay mortgage	3	0.9%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Trouble during payment process	13	3.7%
CITIZENS FINANCIAL GROUP, INC.	VA mortgage	Struggling to pay mortgage	2	0.6%
CITIZENS FINANCIAL GROUP, INC.	VA mortgage	Trouble during payment process	3	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	$922,253
Citizens First Bank	1129 Main Street The Villages, FL 32159	Full Service B&M	$310,974
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	$187,218
Citizens First Bank	2215 Everglades Ln The Villages, FL 32163	Full Service B&M	$299
Citizens First Bank	2420 Burnsed Boulevard The Villages, FL 32163	Full Service B&M	$125,208
Citizens First Bank	2601 West Torch Lake Drive The Villages, FL 32163	Full Service B&M	$257,097
Citizens First Bank	3290 U.S. Hwy 441/27 Fruitland Park, FL 34731	Full Service B&M	$52,844
Citizens First Bank	3430 Southern Trace The Villages, FL 32162	Full Service B&M	$277,008
Citizens First Bank	395 Colony Blvd The Villages, FL 32162	Full Service B&M	$358,011
Citizens First Bank	406 E. Silver Springs Boulevard Ocala, FL 34470	Full Service B&M	$102,007
Citizens First Bank	745 Kristine Way The Villages, FL 32163	Full Service B&M	$91,187
Citizens First Bank	800 West North Boulevard Leesburg, FL 34748	Full Service B&M	$109,089
Citizens First Bank	8590 Se 165th Mulberry Ln The Villages, FL 32162	Full Service B&M	$188,216

For 2021, Citizens First Bank had 14 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$76,863
Net interest income	$71,649
Total noninterest income	$43,087
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$501
Trading account gains and fees	$0
Additional Noninterest Income	$42,586
Pre-tax net operating income	$56,506
Securities gains (or losses, -)	$10,168
Income before extraordinary items	$53,366
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$53,366
Minority interest net income	$0
Net income	$53,366
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$45,231

Citizens First Bank's gross interest income from loans was $76,863,000.
Citizens First Bank's net interest income from loans was $71,649,000.
Citizens First Bank's fee based income from loans was $501,000.
Citizens First Bank's net income from loans was $53,366,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,214
Provision for credit losses	$4,550
Total noninterest expense	$53,680
Salaries and employee benefits	$30,924
Premises and equipment expense	$6,321
Additional noninterest expense	$16,435
Applicable income taxes	$13,308
Net charge-offs	$-216
Cash dividends	$0

Citizens First Bank's interest expense for loans was $5,214,000.
Citizens First Bank's payroll and benefits expense were $30,924,000.
Citizens First Bank's property, plant and equipment expenses $6,321,000.

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	$3,244,759
Deposits held in domestic offices	$3,244,759
Deposits by Individuals, partnerships, and corporations	$3,235,255
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$9,504
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	$279,185
Demand deposits	$271,326
Nontransaction accounts	$2,965,574
Money market deposit accounts (MMDAs)	$2,262,717
Other savings deposits (excluding MMDAs)	$433,978
Total time deposits	$268,879
Total time and savings deposits	$2,973,433
Noninterest-bearing deposits	$672,392
Interest-bearing deposits	$2,572,367
Retail deposits	$3,207,675
IRAs and Keogh plan accounts	$28,707
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$3,978,260
Cash & Balances due from depository institutions	$27,894
Interest-bearing balances	$9,156
Total securities	$2,642,805
Federal funds sold & reverse repurchase	$161,392
Net loans and leases	$1,066,221
Loan and leases loss allowance	$19,349
Trading account assets	$0
Bank premises and fixed assets	$44,232
Other real estate owned	$0
Goodwill and other intangibles	$9,058
All other assets	$26,658

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$3,978,260
Total Liabilities	$3,562,762
Total deposits	$3,244,759
Interest-bearing deposits	$2,572,367
Deposits held in domestic offices	$3,244,759
% insured (estimated)	$70
Federal funds purchased and repurchase agreements	$251,136
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$66,867

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,066,221
Loan and leases loss allowance	$19,349
Total loans and leases (domestic)	$1,085,570
All real estate loans	$565,040
Real estate loans in domestic offices	$565,040
Construction and development loans	$106,427
Residential 1-4 family construction	$5,320
Other construction, all land development and other land	$101,107
Loans secured by nonfarm nonresidential properties	$176,164
Nonfarm nonresidential secured by owner-occupied properties	$78,204
Commercial real estate & other non-farm, non-residential	$97,960
Multifamily residential real estate	$24,814
1-4 family residential loans	$254,496
Farmland loans	$3,139
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$394,562
To non-U.S. addressees	$0
Loans to individuals	$7,696
Credit card loans	$0
Related Plans	$383
Consumer Auto Loans	$779
Other loans to individuals	$6,534
All other loans & leases	$118,272
Loans to foreign governments and official institutions	$0
Other loans	$0
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Citizens First Bank had $1,066,221,000 of loans outstanding in 2021. $565,040,000 of loans were in real estate loans. $106,427,000 of loans were in development loans. $24,814,000 of loans were in multifamily mortgage loans. $254,496,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $779,000 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	181	$52,562	$290,398
Nonfarm, nonresidential loans - <$100k	23	$874	$38,000
Nonfarm, nonresidential loans - $100-250k	46	$5,301	$115,239
Nonfarm, nonresidential loans - $250k-1MM	112	$46,387	$414,170
Commercial & Industrial, US addressed loans - <$1MM	241	$20,451	$84,859
Commercial & Industrial, US addressed loans - <$100k	148	$4,024	$27,189
Commercial & Industrial, US addressed loans - $100-250k	51	$4,186	$82,078
Commercial & Industrial, US addressed loans - $250k-1MM	42	$12,241	$291,452
Farmland loans - <$1MM	1	$149	$149,000
Farmland loans - $100-250k	1	$149	$149,000