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, Virginia Beach, Baltimore, Washington, 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.

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    Originations

    311

    Origination Dollar Volume (All Markets)

    $111,015,000

    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) 190 $81,310,000 $427,947 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 55 $12,915,000 $234,818 $0 0.00%
    Outside of Metro Areas 51 $9,285,000 $182,059 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $2,375,000 $791,667 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $2,245,000 $748,333 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $1,750,000 $291,667 $0 0.00%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $765,000 $765,000 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Citizens And Farmers Bank's top markets include Richmond, Virginia Beach, Baltimore, Washington, and Charlottesville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 311 $111,015,000 $356,961 $0 0.00%

    For 2021, Citizens And Farmers Bank's most frequently originated type of loan was Conventional, with 311 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 180 $33,910,000 $188,389 $0 0.00%
    Home Purchase 84 $66,850,000 $795,833 $0 0.00%
    Home Improvement 29 $7,165,000 $247,069 $0 0.00%
    Other 18 $3,090,000 $171,667 $0 0.00%

    For 2021, Citizens And Farmers Bank's most frequently cited loan purpose was Refi, with 180 originations. The 2nd most popular reason was Home Purchase, with 84 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 311 $111,015,000 $356,961 $0 0.00%

    For 2021, Citizens And Farmers Bank's most frequently cited loan duration was Other, with 311 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 110 $15,970,000 $145,182 $0 0.00%
    $100,000 or less 90 $6,200,000 $68,889 $0 0.00%
    $200k-400k 78 $22,020,000 $282,308 $0 0.00%
    $400k-600k 15 $7,145,000 $476,333 $0 0.00%
    $1MM+ 10 $53,440,000 $5,344,000 $0 0.00%
    $600k-1MM 8 $6,240,000 $780,000 $0 0.00%

    2021 saw Citizens And Farmers Bank place emphasis on $100k-200k loans with 110 originations, totaling $15,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 57 $9,135,000 $160,263 $0 0.00%
    $50k-75k 43 $5,305,000 $123,372 $0 0.00%
    $150k-250k 41 $9,075,000 $221,341 $0 0.00%
    $250k+ 38 $8,720,000 $229,474 $0 0.00%
    $50k or less 36 $4,180,000 $116,111 $0 0.00%
    $75k-100k 35 $5,505,000 $157,286 $0 0.00%

    Citizens And Farmers Bank lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $50k-75k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 311 $111,015,000 $356,961 $0 0.00%

    Citizens And Farmers Bank lent most frequently to those with DTI ratios of Exempt%, with 311 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 55 $68,125,000 $1,238,636 $0 0.00%
    White 198 $31,980,000 $161,515 $0 0.00%
    Not provided 29 $6,495,000 $223,966 $0 0.00%
    Asian Indian 7 $1,515,000 $216,429 $0 0.00%
    Black 12 $1,460,000 $121,667 $0 0.00%
    American Indian 4 $430,000 $107,500 $0 0.00%
    Other Asian 2 $420,000 $210,000 $0 0.00%
    Chinese 2 $330,000 $165,000 $0 0.00%
    Asian 1 $155,000 $155,000 $0 0.00%
    Filipino 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    78.54%

    Citizens And Farmers Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.46%

    Citizens And Farmers Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 311 $111,015,000 $356,961

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    311 $111,015,000 $356,961

    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 and Farmers Bank 100 East Williamsburg Road Sandston, VA 23150 Full Service B&M $64,956
    Citizens and Farmers Bank 1100 Jamestown Road Williamsburg, VA 23185 Full Service B&M $61,944
    Citizens and Farmers Bank 12308 Patterson Avenue Richmond, VA 23238 Full Service B&M $25,042
    Citizens and Farmers Bank 13200 Midlothian Turnpike Midlothian, VA 23113 Full Service B&M $69,515
    Citizens and Farmers Bank 1400 Alverser Plaza Midlothian, VA 23112 Full Service B&M $79,816
    Citizens and Farmers Bank 1422 Anderson Hwy Cumberland, VA 23040 Full Service B&M $43,581
    Citizens and Farmers Bank 15960 Kings Highway Montross, VA 22520 Full Service B&M $71,051
    Citizens and Farmers Bank 175 Kings Highway Fredericksburg, VA 22405 Full Service B&M $31,328
    Citizens and Farmers Bank 1927 C&f Drive Hampton, VA 23666 Full Service B&M $22,150
    Citizens and Farmers Bank 2288 Cartersville Road Cartersville, VA 23027 Full Service B&M $19,507
    Citizens and Farmers Bank 2351 Anderson Hwy Powhatan, VA 23139 Full Service B&M $167,863
    Citizens and Farmers Bank 2800 George Washington Memorial Highway Yorktown, VA 23693 Full Service B&M $19,493
    Citizens and Farmers Bank 301 S 10th Street Richmond, VA 23219 Full Service B&M $8,713
    Citizens and Farmers Bank 304 East Main Street Charlottesville, VA 22902 Full Service B&M $18,973
    Citizens and Farmers Bank 3490 Lauderdale Drive Richmond, VA 23233 Full Service B&M $29,362
    Citizens and Farmers Bank 3920 Lenox Avnue Charlottesville, VA 22901 Full Service B&M $2,600
    Citizens and Farmers Bank 415 14th Street West Point, VA 23181 Full Service B&M $189,024
    Citizens and Farmers Bank 4593 Richmond Road Warsaw, VA 22572 Full Service B&M $35,145
    Citizens and Farmers Bank 4820 West Hundred Road Chester, VA 23831 Full Service B&M $35,800
    Citizens and Farmers Bank 4901 Millridge Parkway East Midlothian, VA 23112 Full Service B&M $56,133
    Citizens and Farmers Bank 5082 James Madison Highway King George, VA 22485 Full Service B&M $12,288
    Citizens and Farmers Bank 698 Town Center Drive Newport News, VA 23606 Full Service Retail $48,456
    Citizens and Farmers Bank 7021 Mechanicsville Turnpike Mechanicsville, VA 23111 Full Service B&M $43,805
    Citizens and Farmers Bank 8001 West Broad Street Richmond, VA 23294 Full Service B&M $51,978
    Citizens and Farmers Bank 8065 Kings Highway King George, VA 22485 Full Service B&M $39,554
    Citizens and Farmers Bank Longhill And Olde Towne Roads James City County, VA 23081 Full Service B&M $55,273
    Citizens and Farmers Bank Route 33 And State Route 641 Saluda, VA 23149 Full Service B&M $74,689
    Citizens and Farmers Bank Route 5 And Strath Road Varina, VA 23231 Full Service B&M $87,124
    Citizens and Farmers Bank Routes 60 And 155 Providence Forge, VA 23140 Full Service B&M $188,159
    Citizens and Farmers Bank State Route 249 Quinton, VA 23141 Full Service B&M $104,483
    Citizens and Farmers Bank U.S. Route 60 And State Route 607 James City County, VA 23127 Full Service B&M $92,095

    For 2021, Citizens And Farmers Bank had 31 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $93,974
    Net interest income $87,964
    Total noninterest income $46,886
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,720
    Trading account gains and fees $0
    Additional Noninterest Income $43,166
    Pre-tax net operating income $41,384
    Securities gains (or losses, -) $214
    Income before extraordinary items $31,609
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $31,609
    Minority interest net income $456
    Net income $31,153
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $31,439

    Citizens And Farmers Bank's gross interest income from loans was $93,974,000.
    Citizens And Farmers Bank's net interest income from loans was $87,964,000.
    Citizens And Farmers Bank's fee based income from loans was $3,720,000.
    Citizens And Farmers Bank's net income from loans was $31,153,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,010
    Provision for credit losses $575
    Total noninterest expense $92,891
    Salaries and employee benefits $54,712
    Premises and equipment expense $8,859
    Additional noninterest expense $29,320
    Applicable income taxes $9,989
    Net charge-offs $-426
    Cash dividends $12,500

    Citizens And Farmers Bank's interest expense for loans was $6,010,000.
    Citizens And Farmers Bank's payroll and benefits expense were $54,712,000.
    Citizens And Farmers Bank's property, plant and equipment expenses $8,859,000.

    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 2.0%
    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 $1,935,422
    Deposits held in domestic offices $1,935,422
    Deposits by Individuals, partnerships, and corporations $1,771,098
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $164,324
    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 $119,944
    Demand deposits $104,878
    Nontransaction accounts $1,815,478
    Money market deposit accounts (MMDAs) $342,976
    Other savings deposits (excluding MMDAs) $1,049,032
    Total time deposits $423,470
    Total time and savings deposits $1,830,544
    Noninterest-bearing deposits $602,494
    Interest-bearing deposits $1,332,928
    Retail deposits $1,823,139
    IRAs and Keogh plan accounts $12,069
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,238,851
    Cash & Balances due from depository institutions $269,488
    Interest-bearing balances $243,723
    Total securities $374,542
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,450,092
    Loan and leases loss allowance $40,157
    Trading account assets $0
    Bank premises and fixed assets $53,892
    Other real estate owned $835
    Goodwill and other intangibles $27,168
    All other assets $62,834

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,238,851
    Total Liabilities $2,002,373
    Total deposits $1,935,422
    Interest-bearing deposits $1,332,928
    Deposits held in domestic offices $1,935,422
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $34,735
    Trading liabilities $0
    Other borrowed funds $6,346
    Subordinated debt $0
    All other liabilities $25,870

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,450,092
    Loan and leases loss allowance $40,157
    Total loans and leases (domestic) $1,490,249
    All real estate loans $991,783
    Real estate loans in domestic offices $991,783
    Construction and development loans $146,154
    Residential 1-4 family construction $47,456
    Other construction, all land development and other land $98,698
    Loans secured by nonfarm nonresidential properties $331,112
    Nonfarm nonresidential secured by owner-occupied properties $76,003
    Commercial real estate & other non-farm, non-residential $255,109
    Multifamily residential real estate $91,958
    1-4 family residential loans $422,038
    Farmland loans $521
    Loans held in foreign offices $0
    Farm loans $59
    Commercial and industrial loans $78,485
    To non-U.S. addressees $0
    Loans to individuals $376,412
    Credit card loans $0
    Related Plans $64
    Consumer Auto Loans $324,100
    Other loans to individuals $52,248
    All other loans & leases $43,510
    Loans to foreign governments and official institutions $0
    Other loans $1,450
    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 $2,575
    Non 1-4 family restructured loans & leases $1,330
    Total loans and leases (foreign) $0

    Citizens and Farmers Bank had $1,450,092,000 of loans outstanding in 2021. $991,783,000 of loans were in real estate loans. $146,154,000 of loans were in development loans. $91,958,000 of loans were in multifamily mortgage loans. $422,038,000 of loans were in 1-4 family mortgage loans. $59,000 of loans were in farm loans. $0 of loans were in credit card loans. $324,100,000 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 256 $63,240 $247,031
    Nonfarm, nonresidential loans - <$100k 30 $1,379 $45,967
    Nonfarm, nonresidential loans - $100-250k 94 $12,830 $136,489
    Nonfarm, nonresidential loans - $250k-1MM 132 $49,031 $371,447
    Commercial & Industrial, US addressed loans - <$1MM 571 $37,135 $65,035
    Commercial & Industrial, US addressed loans - <$100k 389 $8,017 $20,609
    Commercial & Industrial, US addressed loans - $100-250k 105 $10,619 $101,133
    Commercial & Industrial, US addressed loans - $250k-1MM 77 $18,499 $240,247
    Farmland loans - <$1MM 9 $511 $56,778
    Farmland loans - <$100k 3 $88 $29,333
    Farmland loans - $100-250k 3 $233 $77,667
    Farmland loans - $250k-1MM 3 $190 $63,333
    Agriculture operations loans - <$1MM 4 $58 $14,500
    Agriculture operations loans - <$100k 4 $58 $14,500