Citizens and Farmers Bank

Eighth And Main Streets
West Point, VA 23181

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 10363
Date Established 1927
Assets $1.52 billion
Loans $1.07 billion
Deposits $1.18 billion
Capital $0.17 billion

Citizens and Farmers Bank is an FDIC insured institution located in West Point, VA. It was founded in 1927 and has approximately $1.52 billion in assets. Customers can open an account at one of its 27 branches.

For a more detailed analysis of Citizens and Farmers Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in Citizens and Farmers Bank’s loan portfolio are 1-4 Family Residential Loans, Consumer Auto Loans, and Commercial Real Estate.

Compared to other banks in Virginia, Citizens and Farmers Bank has a significantly higher percent of Consumer Auto Loans, Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 31.65
Multifamily
Mortgages
4.01
Credit Card Loans 0.00
Consumer Auto Loans 26.84
Small Business Loans 6.37
Construction and Development Loans 13.50
Commercial Real Estate 19.41
Commercial and Industrial Loans 4.77
Farm Loans 0.02

Deposit Rates - June 24, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.25% $1 $9,999 Learn MoreShow Less
Money Market
0.30% $10,000 $24,999 Learn MoreShow Less
Money Market
0.35% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.25% $500 - Learn MoreShow Less
6 Mo CD
0.50% $500 - Learn MoreShow Less
12 Mo CD
1.00% $500 - Learn MoreShow Less
Special: 16 Mo CD
2.20% $1,000 - Learn MoreShow Less
18 Mo CD
1.10% $500 - Learn MoreShow Less
Special: 22 Mo CD
2.35% $1,000 - Learn MoreShow Less
24 Mo CD
1.25% $500 - Learn MoreShow Less
30 Mo CD
1.25% $500 - Learn MoreShow Less
36 Mo CD
1.45% $500 - Learn MoreShow Less
Special: 38 Mo CD
2.45% $1,000 - Learn MoreShow Less
48 Mo CD
1.45% $500 - Learn MoreShow Less
60 Mo CD
2.70% $500 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
1.00% $500 - Learn MoreShow Less
Special: 16 Mo FIRA
2.20% $1,000 - Learn MoreShow Less
Special: 22 Mo FIRA
2.35% $1,000 - Learn MoreShow Less
Special: 38 Mo FIRA
2.45% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.03% $1 $2,499 Learn MoreShow Less
0.03% $2,500 $9,999 Learn MoreShow Less

Loan Rates - June 24, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Citizens and Farmers Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
First Internet Bank
NMLS ID: 424182
3.658% 3.625% 0.38 $1,022 $1,141 Learn More
Rocket Mortgage
NMLS ID: 3030
4.500% 4.500% 0.00 $0 $1,267 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
4.490 %
$0 Learn More
More Info
PenFed Credit Union
PenFed Credit Union
5.500 %
$0 Learn More
More Info

Note to Citizens and Farmers Bank
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Branches

Citizens and Farmers Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Citizens and Farmers Bank Locations


Financial Details

Citizens and Farmers Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Citizens and Farmers Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Citizens and Farmers Bank U.S. Bank Average
1.34% 6.97%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2018, Citizens and Farmers Bank had $2,537,000 in non-current loans and $246,000 in owned real estate. To cover these potential losses it had $174,244,000 in equity and $34,023,000 in loans loss reserves. That gives it a Texas Ratio of 1.34%.

Return on Equity
Citizens and Farmers Bank U.S. Bank Average
11.59% 8.80%

Citizens and Farmers Bank has a Return on Equity of 11.59% versus the BestCashCow average of 8.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Citizens and Farmers Bank U.S. Bank Average
11.48% 12.29%

Citizens and Farmers Bank has a Capitalization of 11.48% versus the BestCashCow average of 12.29. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Citizens and Farmers Bank Balance Sheet Analysis

As of December 31, 2018, Citizens and Farmers Bank had assets of $1,517,593,000, loans of $1,068,889,000, and deposits of $1,182,055,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2018
ASSETS
Cash & Balances due from depository institutions $0.11 billion
Interest-bearing balances $0.10 billion
Total securities $0.21 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $1.07 billion
Loan loss allowance $0.03 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.02 billion
All other assets $0.07 billion
     Total Assets $1.34 billion
LIABILITIES
Total deposits $1.18 billion
      Interest-bearing deposits $0.91 billion
      Deposits held in domestic offices $1.18 billion
      % insured (estimated) 83.98%
Federal funds purchased and repurchase agreements $0.01 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.12 billion
Subordinated debt $0.00 billion
All other liabilities $0.03 billion
      Total Liabilities $1.34 billion
      Shareholders’ Equity $0.17 billion

Summary Income Statement

December 31, 2018
INCOME AND EXPENSES
Total Interest Income $0.09 billion
Total Interest Expense $0.01 billion
Net interest income $0.08 billion
Provision for loan and lease losses $0.01 billion
Total non interest income $0.03 billion
Total non interest expense $0.07 billion
Pre-tax Net Operating Income $0.02 billion

Frequently Asked Questions About Citizens And Farmers Bank

Branches and Savings

Is Citizens And Farmers Bank FDIC insured?

Yes. It is covered under FDIC Certificate #10363.

Why does Citizens And Farmers Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Citizens And Farmers Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Citizens And Farmers Bank a commercial bank?

Yes

Where are Citizens And Farmers Bank locations?

See branch locations nearby.

Is Citizens And Farmers Bank open on Saturdays?

Is Citizens And Farmers Bank open on Sundays?

What time does Citizens And Farmers Bank open?

What time does Citizens And Farmers Bank close?

Are Citizens And Farmers Bank ATMs Open 24/7?

Do Citizens And Farmers Bank ATMs accept cash deposits?

Can Citizens And Farmers Bank customers use other ATMs?

Do Citizens And Farmers Bank branches have notaries?

Will Citizens And Farmers Bank notarize my document?

What address for Citizens And Farmers Bank should I put for incoming ACH transfers?

Will the Citizens And Farmers Bank branch print checks?

Do Citizens And Farmers Bank checks expire?

Does Citizens And Farmers Bank require US citizenship to open account?

Can Citizens And Farmers Bank close my account?

Does Citizens And Farmers Bank Report to credit bureaus?

Does Citizens And Farmers Bank Use Equifax?

What is Citizens And Farmers Bank's ACH Routing Number?

What is Citizens And Farmers Bank's SWIFT code?

Products

Does Citizens And Farmers Bank offer mortgages?

Compare mortgage rates here.

Does Citizens And Farmers Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Citizens And Farmers Bank offer personal loans?

Compare personal loan rates here.

Does Citizens And Farmers Bank offer student loans?

Will Citizens And Farmers Bank cash a check?

Will Citizens And Farmers Bank redeem a savings bond?

Does Citizens And Farmers Bank cash savings bonds?

Will Citizens And Farmers Bank cash money orders?

Can Citizens And Farmers Bank issue a money order?

Does Citizens And Farmers Bank do currency exchange?

Background on The Bank

Who owns Citizens And Farmers Bank?

How long has Citizens And Farmers Bank been around?

Can Citizens And Farmers Bank transfer to other banks?

Does Citizens And Farmers Bank have quick pay?

Does Citizens And Farmers Bank accept rolled coins?

Will Citizens And Farmers Bank accept loose change?

Where is Citizens And Farmers Bank headquarters?

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