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

Jump to:

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, Virginia Beach, Washington, Lynchburg, and Charlottesville 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.

    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.


    Originations

    447

    Origination Dollar Volume (All Markets)

    $92,815,000

    Employee count

    697

    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) 283 $52,825,000 $186,661 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 76 $12,770,000 $168,026 $0 0.00%
    Outside of Metro Areas 64 $10,890,000 $170,156 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $8,060,000 $1,007,500 $0 0.00%
    LYNCHBURG, VA (FHA|USDA|VA) 3 $6,025,000 $2,008,333 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 10 $1,920,000 $192,000 $0 0.00%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $125,000 $125,000 $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, Virginia Beach, Washington, Lynchburg, and Charlottesville 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 447 $92,815,000 $207,640 $0 0.00%

    For 2020, Citizens And Farmers Bank's most frequently originated type of loan was Conventional, with 447 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 292 $52,190,000 $178,733 $0 0.00%
    Home Purchase 97 $36,015,000 $371,289 $0 0.00%
    Other 32 $3,030,000 $94,688 $0 0.00%
    Home Improvement 26 $1,580,000 $60,769 $0 0.00%

    For 2020, Citizens And Farmers Bank's most frequently cited loan purpose was Refi, with 292 originations. The 2nd most popular reason was Home Purchase, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 447 $92,815,000 $207,640 $0 0.00%

    For 2020, Citizens And Farmers Bank's most frequently cited loan duration was Other, with 447 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 190 $27,360,000 $144,000 $0 0.00%
    $100,000 or less 132 $7,780,000 $58,939 $0 0.00%
    $200k-400k 96 $25,070,000 $261,146 $0 0.00%
    $400k-600k 14 $6,570,000 $469,286 $0 0.00%
    $600k-1MM 11 $8,585,000 $780,455 $0 0.00%
    $1MM+ 4 $17,450,000 $4,362,500 $0 0.00%

    2020 saw Citizens And Farmers Bank place emphasis on $100k-200k loans with 190 originations, totaling $27,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 85 $13,225,000 $155,588 $0 0.00%
    $50k-75k 73 $9,585,000 $131,301 $0 0.00%
    $50k or less 68 $6,490,000 $95,441 $0 0.00%
    $150k-250k 67 $13,065,000 $195,000 $0 0.00%
    $75k-100k 65 $11,365,000 $174,846 $0 0.00%
    $250k+ 38 $11,650,000 $306,579 $0 0.00%

    Citizens And Farmers Bank lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $50k-75k, with 73 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 447 $92,815,000 $207,640 $0 0.00%

    Citizens And Farmers Bank lent most frequently to those with DTI ratios of Exempt%, with 447 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 324 $53,090,000 $163,858 $0 0.00%
    Not applicable 41 $25,605,000 $624,512 $0 0.00%
    Not provided 37 $8,065,000 $217,973 $0 0.00%
    Black 24 $3,420,000 $142,500 $0 0.00%
    Asian 9 $1,135,000 $126,111 $0 0.00%
    Asian Indian 5 $635,000 $127,000 $0 0.00%
    Korean 3 $385,000 $128,333 $0 0.00%
    American Indian 3 $355,000 $118,333 $0 0.00%
    Other Asian 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.88%

    Citizens And Farmers Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.43%

    Citizens And Farmers Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 447 $92,815,000 $207,640

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $19,460,000 $1,946,000
    Single Family (1-4 Units):Manufactured 2 $120,000 $60,000
    Single Family (1-4 Units):Site-Built 435 $73,235,000 $168,356

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 35 12.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 13 4.7%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Credit monitoring or identity theft protection services 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 5 1.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 26 9.5%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 109 39.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 2.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 20 7.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.5%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 11 4.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 4 1.5%

    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 $57,114
    Citizens and Farmers Bank 1100 Jamestown Road Williamsburg, VA 23185 Full Service B&M $53,577
    Citizens and Farmers Bank 12308 Patterson Avenue Richmond, VA 23238 Full Service B&M $24,315
    Citizens and Farmers Bank 13200 Midlothian Turnpike Midlothian, VA 23113 Full Service B&M $62,790
    Citizens and Farmers Bank 1400 Alverser Plaza Midlothian, VA 23112 Full Service B&M $69,226
    Citizens and Farmers Bank 1422 Anderson Hwy Cumberland, VA 23040 Full Service B&M $36,538
    Citizens and Farmers Bank 14th Street Near Main Street West Point, VA 23181 Full Service B&M $98,319
    Citizens and Farmers Bank 15960 Kings Highway Montross, VA 22520 Full Service B&M $67,270
    Citizens and Farmers Bank 175 Kings Highway Fredericksburg, VA 22405 Full Service B&M $28,767
    Citizens and Farmers Bank 1927 C&f Drive Hampton, VA 23666 Full Service B&M $23,303
    Citizens and Farmers Bank 2288 Cartersville Road Cartersville, VA 23027 Full Service B&M $16,529
    Citizens and Farmers Bank 2351 Anderson Hwy Powhatan, VA 23139 Full Service B&M $151,264
    Citizens and Farmers Bank 2800 George Washington Memorial Highway Yorktown, VA 23693 Full Service B&M $17,084
    Citizens and Farmers Bank 304 East Main Street Charlottesville, VA 22902 Full Service B&M $16,770
    Citizens and Farmers Bank 3490 Lauderdale Drive Richmond, VA 23233 Full Service B&M $28,206
    Citizens and Farmers Bank 4593 Richmond Road Warsaw, VA 22572 Full Service B&M $36,601
    Citizens and Farmers Bank 4820 West Hundred Road Chester, VA 23831 Full Service B&M $42,594
    Citizens and Farmers Bank 4901 Millridge Parkway East Midlothian, VA 23112 Full Service B&M $44,261
    Citizens and Farmers Bank 5082 James Madison Highway King George, VA 22485 Full Service B&M $10,616
    Citizens and Farmers Bank 698 Town Center Drive Newport News, VA 23606 Full Service Retail $39,236
    Citizens and Farmers Bank 7021 Mechanicsville Turnpike Mechanicsville, VA 23111 Full Service B&M $38,074
    Citizens and Farmers Bank 8001 West Broad Street Richmond, VA 23294 Full Service B&M $47,983
    Citizens and Farmers Bank 8065 Kings Highway King George, VA 22485 Full Service B&M $34,838
    Citizens and Farmers Bank Eighth And Main Streets West Point, VA 23181 Full Service B&M $70,207
    Citizens and Farmers Bank Longhill And Olde Towne Roads James City County, VA 23081 Full Service B&M $47,982
    Citizens and Farmers Bank Route 33 And State Route 641 Saluda, VA 23149 Full Service B&M $69,382
    Citizens and Farmers Bank Route 5 And Strath Road Varina, VA 23231 Full Service B&M $76,460
    Citizens and Farmers Bank Routes 60 And 155 Providence Forge, VA 23140 Full Service B&M $150,577
    Citizens and Farmers Bank State Route 249 Quinton, VA 23141 Full Service B&M $102,423
    Citizens and Farmers Bank U.S. Route 60 And State Route 607 James City County, VA 23127 Full Service B&M $83,887

    For 2020, Citizens And Farmers Bank had 30 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $97,096
    Net interest income $85,326
    Total noninterest income $53,040
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,332
    Trading account gains and fees $0
    Additional Noninterest Income $49,708
    Pre-tax net operating income $32,040
    Securities gains (or losses, -) $-24
    Income before extraordinary items $24,426
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $24,426
    Minority interest net income $307
    Net income $24,119
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $24,444

    Citizens And Farmers Bank's gross interest income from loans was $97,096,000.
    Citizens And Farmers Bank's net interest income from loans was $85,326,000.
    Citizens And Farmers Bank's fee based income from loans was $3,332,000.
    Citizens And Farmers Bank's net income from loans was $24,119,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $11,770
    Provision for credit losses $11,080
    Total noninterest expense $95,246
    Salaries and employee benefits $54,209
    Premises and equipment expense $8,285
    Additional noninterest expense $32,752
    Applicable income taxes $7,590
    Net charge-offs $4,797
    Cash dividends $8,746

    Citizens And Farmers Bank's interest expense for loans was $11,770,000.
    Citizens And Farmers Bank's payroll and benefits expense were $54,209,000.
    Citizens And Farmers Bank's property, plant and equipment expenses $8,285,000.

    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 1.0%
    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 $1,773,644
    Deposits held in domestic offices $1,773,644
    Deposits by Individuals, partnerships, and corporations $1,615,797
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $157,847
    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 $98,488
    Demand deposits $97,971
    Nontransaction accounts $1,675,156
    Money market deposit accounts (MMDAs) $290,053
    Other savings deposits (excluding MMDAs) $915,510
    Total time deposits $469,593
    Total time and savings deposits $1,675,673
    Noninterest-bearing deposits $523,384
    Interest-bearing deposits $1,250,260
    Retail deposits $1,644,528
    IRAs and Keogh plan accounts $52,464
    Brokered deposits $6,102
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,053,306
    Cash & Balances due from depository institutions $94,341
    Interest-bearing balances $67,832
    Total securities $287,865
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,516,681
    Loan and leases loss allowance $39,156
    Trading account assets $0
    Bank premises and fixed assets $52,693
    Other real estate owned $907
    Goodwill and other intangibles $27,482
    All other assets $73,337

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,053,306
    Total Liabilities $1,834,493
    Total deposits $1,773,644
    Interest-bearing deposits $1,250,260
    Deposits held in domestic offices $1,773,644
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $20,455
    Trading liabilities $0
    Other borrowed funds $6,305
    Subordinated debt $0
    All other liabilities $34,089

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,516,681
    Loan and leases loss allowance $39,156
    Total loans and leases (domestic) $1,555,837
    All real estate loans $1,044,298
    Real estate loans in domestic offices $1,044,298
    Construction and development loans $147,121
    Residential 1-4 family construction $31,538
    Other construction, all land development and other land $115,583
    Loans secured by nonfarm nonresidential properties $288,740
    Nonfarm nonresidential secured by owner-occupied properties $74,443
    Commercial real estate & other non-farm, non-residential $214,297
    Multifamily residential real estate $64,733
    1-4 family residential loans $543,024
    Farmland loans $680
    Loans held in foreign offices $0
    Farm loans $124
    Commercial and industrial loans $151,219
    To non-U.S. addressees $0
    Loans to individuals $322,546
    Credit card loans $0
    Related Plans $67
    Consumer Auto Loans $276,217
    Other loans to individuals $46,262
    All other loans & leases $37,650
    Loans to foreign governments and official institutions $0
    Other loans $1,452
    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 $3,318
    Non 1-4 family restructured loans & leases $1,330
    Total loans and leases (foreign) $0

    Citizens and Farmers Bank had $1,516,681,000 of loans outstanding in 2020. $1,044,298,000 of loans were in real estate loans. $147,121,000 of loans were in development loans. $64,733,000 of loans were in multifamily mortgage loans. $543,024,000 of loans were in 1-4 family mortgage loans. $124,000 of loans were in farm loans. $0 of loans were in credit card loans. $276,217,000 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 276 $115,740 $419,348
    Nonfarm, nonresidential loans - <$100k 48 $1,962 $40,875
    Nonfarm, nonresidential loans - $100-250k 91 $12,116 $133,143
    Nonfarm, nonresidential loans - $250k-1MM 137 $101,662 $742,058
    Commercial & Industrial, US addressed loans - <$1MM 1,631 $102,850 $63,059
    Commercial & Industrial, US addressed loans - <$100k 1,281 $34,059 $26,588
    Commercial & Industrial, US addressed loans - $100-250k 219 $27,680 $126,393
    Commercial & Industrial, US addressed loans - $250k-1MM 131 $41,111 $313,824
    Farmland loans - <$1MM 6 $676 $112,667
    Farmland loans - <$100k 1 $67 $67,000
    Farmland loans - $100-250k 4 $389 $97,250
    Farmland loans - $250k-1MM 1 $220 $220,000
    Agriculture operations loans - <$1MM 5 $121 $24,200
    Agriculture operations loans - <$100k 4 $84 $21,000
    Agriculture operations loans - $100-250k 1 $37 $37,000