Citizens And Farmers Bank Mortgage Rates, Fees & Info

West Point, VA

LEI: 549300QBMI3P6JWI9Q86

Tax ID: 54-0169510

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 And Farmers Bank is a smaller bank specializing in Refi and Home Purchase loans. Citizens And Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Lynchburg, Virginia Beach, Charlottesville, and Washington among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens And Farmers Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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.

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    Originations

    255

    Origination Dollar Volume (All Markets)

    $75,915,000

    Employee count

    643

    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
    RICHMOND, VA (FHA|USDA|VA) 170 $47,620,000 $280,118 $0 0.00%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $11,205,000 $11,205,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 44 $10,440,000 $237,273 $0 0.00%
    Outside of Metro Areas 29 $3,675,000 $126,724 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $1,160,000 $193,333 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $830,000 $415,000 $0 0.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    STAUNTON, VA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Citizens And Farmers Bank's top markets include Richmond, Lynchburg, Virginia Beach, Charlottesville, and Washington among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 255 $75,915,000 $297,706 $0 0.00%

    For 2019, Citizens And Farmers Bank's most frequently originated type of loan was Conventional, with 255 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 103 $16,215,000 $157,427 $0 0.00%
    Home Purchase 91 $55,915,000 $614,451 $0 0.00%
    Home Improvement 37 $1,905,000 $51,486 $0 0.00%
    Other 24 $1,880,000 $78,333 $0 0.00%

    For 2019, Citizens And Farmers Bank's most frequently cited loan purpose was Refi, with 103 originations. The 2nd most popular reason was Home Purchase, with 91 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 255 $75,915,000 $297,706 $0 0.00%

    For 2019, Citizens And Farmers Bank's most frequently cited loan duration was Other, with 255 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 108 $5,870,000 $54,352 $0 0.00%
    $100k-200k 84 $11,840,000 $140,952 $0 0.00%
    $200k-400k 43 $11,385,000 $264,767 $0 0.00%
    $400k-600k 11 $5,125,000 $465,909 $0 0.00%
    $1MM+ 5 $38,425,000 $7,685,000 $0 0.00%
    $600k-1MM 4 $3,270,000 $817,500 $0 0.00%

    2019 saw Citizens And Farmers Bank place emphasis on $100,000 or less loans with 108 originations, totaling $5,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 55 $9,255,000 $168,273 $0 0.00%
    $75k-100k 44 $5,850,000 $132,955 $0 0.00%
    $50k or less 42 $3,680,000 $87,619 $0 0.00%
    $50k-75k 41 $4,735,000 $115,488 $0 0.00%
    $150k-250k 25 $4,605,000 $184,200 $0 0.00%
    $250k+ 16 $4,030,000 $251,875 $0 0.00%

    Citizens And Farmers Bank lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $75k-100k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 255 $75,915,000 $297,706 $0 0.00%

    Citizens And Farmers Bank lent most frequently to those with DTI ratios of Exempt%, with 255 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 25 $42,615,000 $1,704,600 $0 0.00%
    White 181 $26,305,000 $145,331 $0 0.00%
    Not provided 17 $2,905,000 $170,882 $0 0.00%
    Black 20 $2,080,000 $104,000 $0 0.00%
    Asian 4 $560,000 $140,000 $0 0.00%
    Asian Indian 2 $440,000 $220,000 $0 0.00%
    Other Pacific Islander 1 $265,000 $265,000 $0 0.00%
    Other Asian 1 $255,000 $255,000 $0 0.00%
    American Indian 1 $145,000 $145,000 $0 0.00%
    Vietnamese 1 $135,000 $135,000 $0 0.00%
    Chinese 1 $135,000 $135,000 $0 0.00%
    Filipino 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    74.47%

    Citizens And Farmers Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.39%

    Citizens And Farmers Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 255 $75,915,000 $297,706

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $39,550,000 $4,943,750
    Single Family (1-4 Units):Site-Built 247 $36,365,000 $147,227

    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 and Farmers Bank 100 East Williamsburg Road Sandston, VA 23150 Full Service B&M $48,911
    Citizens and Farmers Bank 1100 Jamestown Road Williamsburg, VA 23185 Full Service B&M $46,289
    Citizens and Farmers Bank 12308 Patterson Avenue Richmond, VA 23238 Full Service B&M $16,691
    Citizens and Farmers Bank 13200 Midlothian Turnpike Midlothian, VA 23113 Full Service B&M $58,805
    Citizens and Farmers Bank 1400 Alverser Plaza Midlothian, VA 23112 Full Service B&M $36,529
    Citizens and Farmers Bank 1422 Anderson Hwy Cumberland, VA 23040 Full Service B&M $30,288
    Citizens and Farmers Bank 14th Street Near Main Street West Point, VA 23181 Full Service B&M $80,194
    Citizens and Farmers Bank 1927 C&f Drive Hampton, VA 23666 Full Service B&M $14,006
    Citizens and Farmers Bank 2288 Cartersville Road Cartersville, VA 23027 Full Service B&M $15,773
    Citizens and Farmers Bank 2351 Anderson Hwy Powhatan, VA 23139 Full Service B&M $132,849
    Citizens and Farmers Bank 2500 Promenade Parkway Midlothian, VA 23113 Full Service B&M $18,180
    Citizens and Farmers Bank 2800 George Washington Memorial Highway Yorktown, VA 23693 Full Service B&M $13,365
    Citizens and Farmers Bank 304 East Main Street Charlottesville, VA 22902 Full Service B&M $15,939
    Citizens and Farmers Bank 3490 Lauderdale Drive Richmond, VA 23233 Full Service B&M $22,079
    Citizens and Farmers Bank 4820 West Hundred Road Chester, VA 23831 Full Service B&M $20,919
    Citizens and Farmers Bank 4901 Millridge Parkway East Midlothian, VA 23112 Full Service B&M $34,936
    Citizens and Farmers Bank 698 Town Center Drive Newport News, VA 23606 Full Service Retail $33,231
    Citizens and Farmers Bank 7021 Mechanicsville Turnpike Mechanicsville, VA 23111 Full Service B&M $29,966
    Citizens and Farmers Bank 8001 West Broad Street Richmond, VA 23294 Full Service B&M $34,395
    Citizens and Farmers Bank Eighth And Main Streets West Point, VA 23181 Full Service B&M $58,753
    Citizens and Farmers Bank Longhill And Olde Towne Roads James City County, VA 23081 Full Service B&M $40,402
    Citizens and Farmers Bank Route 33 And State Route 641 Saluda, VA 23149 Full Service B&M $57,450
    Citizens and Farmers Bank Route 5 And Strath Road Varina, VA 23231 Full Service B&M $62,830
    Citizens and Farmers Bank Routes 60 And 155 Providence Forge, VA 23140 Full Service B&M $133,672
    Citizens and Farmers Bank State Route 249 Quinton, VA 23141 Full Service B&M $80,543
    Citizens and Farmers Bank U.S. Route 60 And State Route 607 James City County, VA 23127 Full Service B&M $75,307

    For 2019, Citizens And Farmers Bank had 26 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $95,264
    Net interest income $81,843
    Total noninterest income $29,617
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,747
    Trading account gains and fees $0
    Additional Noninterest Income $25,870
    Pre-tax net operating income $26,776
    Securities gains (or losses, -) $10
    Income before extraordinary items $20,926
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $20,926
    Minority interest net income $-9
    Net income $20,935
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $20,918

    Citizens And Farmers Bank's gross interest income from loans was $95,264,000.
    Citizens And Farmers Bank's net interest income from loans was $81,843,000.
    Citizens And Farmers Bank's fee based income from loans was $3,747,000.
    Citizens And Farmers Bank's net income from loans was $20,935,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $13,421
    Provision for credit losses $8,515
    Total noninterest expense $76,169
    Salaries and employee benefits $43,674
    Premises and equipment expense $8,477
    Additional noninterest expense $24,018
    Applicable income taxes $5,860
    Net charge-offs $9,665
    Cash dividends $22,632

    Citizens And Farmers Bank's interest expense for loans was $13,421,000.
    Citizens And Farmers Bank's payroll and benefits expense were $43,674,000.
    Citizens And Farmers Bank's property, plant and equipment expenses $8,477,000.

    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 $1,292,400
    Deposits held in domestic offices $1,292,400
    Deposits by Individuals, partnerships, and corporations $1,161,727
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $130,673
    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 $80,634
    Demand deposits $41,341
    Nontransaction accounts $1,211,766
    Money market deposit accounts (MMDAs) $207,712
    Other savings deposits (excluding MMDAs) $582,744
    Total time deposits $421,310
    Total time and savings deposits $1,251,059
    Noninterest-bearing deposits $298,072
    Interest-bearing deposits $994,328
    Retail deposits $1,183,395
    IRAs and Keogh plan accounts $47,511
    Brokered deposits $2,020
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,625,536
    Cash & Balances due from depository institutions $156,344
    Interest-bearing balances $138,374
    Total securities $189,733
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,168,668
    Loan and leases loss allowance $32,873
    Trading account assets $0
    Bank premises and fixed assets $34,901
    Other real estate owned $1,103
    Goodwill and other intangibles $15,337
    All other assets $59,450

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,625,536
    Total Liabilities $1,449,801
    Total deposits $1,292,400
    Interest-bearing deposits $994,328
    Deposits held in domestic offices $1,292,400
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $16,360
    Trading liabilities $0
    Other borrowed funds $119,529
    Subordinated debt $0
    All other liabilities $21,512

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,168,668
    Loan and leases loss allowance $32,873
    Total loans and leases (domestic) $1,201,541
    All real estate loans $790,938
    Real estate loans in domestic offices $790,938
    Construction and development loans $149,559
    Residential 1-4 family construction $42,429
    Other construction, all land development and other land $107,130
    Loans secured by nonfarm nonresidential properties $205,235
    Nonfarm nonresidential secured by owner-occupied properties $61,700
    Commercial real estate & other non-farm, non-residential $143,535
    Multifamily residential real estate $60,236
    1-4 family residential loans $374,539
    Farmland loans $1,369
    Loans held in foreign offices $0
    Farm loans $182
    Commercial and industrial loans $61,913
    To non-U.S. addressees $0
    Loans to individuals $323,336
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $295,989
    Other loans to individuals $27,347
    All other loans & leases $25,172
    Loans to foreign governments and official institutions $0
    Other loans $1,320
    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 $4,099
    Non 1-4 family restructured loans & leases $1,585
    Total loans and leases (foreign) $0

    Citizens and Farmers Bank had $1,168,668,000 of loans outstanding in 2019. $790,938,000 of loans were in real estate loans. $149,559,000 of loans were in development loans. $60,236,000 of loans were in multifamily mortgage loans. $374,539,000 of loans were in 1-4 family mortgage loans. $182,000 of loans were in farm loans. $0 of loans were in credit card loans. $295,989,000 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 230 $86,479 $375,996
    Nonfarm, nonresidential loans - <$100k 45 $1,844 $40,978
    Nonfarm, nonresidential loans - $100-250k 71 $8,901 $125,366
    Nonfarm, nonresidential loans - $250k-1MM 114 $75,734 $664,333
    Commercial & Industrial, US addressed loans - <$1MM 352 $26,946 $76,551
    Commercial & Industrial, US addressed loans - <$100k 239 $4,858 $20,326
    Commercial & Industrial, US addressed loans - $100-250k 47 $4,233 $90,064
    Commercial & Industrial, US addressed loans - $250k-1MM 66 $17,855 $270,530
    Farmland loans - <$1MM 8 $1,368 $171,000
    Farmland loans - $100-250k 4 $347 $86,750
    Farmland loans - $250k-1MM 4 $1,021 $255,250
    Agriculture operations loans - <$1MM 5 $182 $36,400
    Agriculture operations loans - <$100k 4 $108 $27,000
    Agriculture operations loans - $100-250k 1 $74 $74,000