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 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% 4/28/24
    30 Year Conventional Purchase 6.68% 4/28/24
    30 Year Cash-out Refi 6.75% 4/28/24
    15 Year Conventional Purchase 6.07% 4/28/24
    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

    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
    Similarity Rank: 1272
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1820
    TrustCo Bank
    Similarity Rank: 2324
    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