Citizens and Farmers Bank

Headquarters

415 14th Street
West Point, VA 23181
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 5.55% →
1-Year CD 0.25% 5.60% →
2-Year CD 0.40% 4.90% →
5-Year CD 0.55% 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Citizens and Farmers Bank is an FDIC insured institution located in West Point, VA. It was founded in 1927 and has approximately $2.42 billion in assets. Customers can open an account at one of its 27 branches.

FDIC Insured Yes
FDIC Certificate # 10363
Date Established 1927
Assets $ 2.42 billion
Loans $ 1,716.99 million
Deposits $ 2.08 billion
Capital $ 244.05 million
 

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.

Deposit Rates - April 23, 2024

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.10% $10,000 $14,999 Learn More
6 Mo CD
0.10% $100,000 $199,999 Learn More
12 Mo CD
0.25% $10,000 $14,999 Learn More
12 Mo CD
0.25% $100,000 $199,999 Learn More
18 Mo CD
0.30% $10,000 $14,999 Learn More
18 Mo CD
0.30% $100,000 $199,999 Learn More
24 Mo CD
0.40% $10,000 $14,999 Learn More
24 Mo CD
0.40% $100,000 $199,999 Learn More
30 Mo CD
0.40% $10,000 $14,999 Learn More
30 Mo CD
0.40% $100,000 $199,999 Learn More
36 Mo CD
0.45% $10,000 $14,999 Learn More
36 Mo CD
0.45% $100,000 $199,999 Learn More
48 Mo CD
0.45% $10,000 $14,999 Learn More
48 Mo CD
0.45% $100,000 $199,999 Learn More
60 Mo CD
0.55% $10,000 $14,999 Learn More
60 Mo CD
0.55% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 $99 Learn MoreShow Less
Int Ckg
0.01% $2,500 $3,499 Learn MoreShow Less

Loan Rates - April 23, 2024

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 2024

Lender APR Rate (%) Monthly
Payment
Learn More
PenFed Credit Union
NMLS ID: 401822
6.818% 6.625%
1.00 points
$6,400 fees
$2,049 Learn More
Tomo Mortgage, LLC
NMLS ID: 2059741
6.994% 6.875%
0.63 points
$3,885 fees
$2,103 Learn More
CrossCountry Mortgage
NMLS ID: 3029
7.111% 6.990%
0.75 points
$4,070 fees
$2,127 Learn More
Rocket Mortgage
NMLS ID: 3030
7.451% 7.375%
0.75 points
$2,400 fees
$2,211 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.490 %
$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



Climate Policy and Initiatives

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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
0.5% 3.96%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its 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, 2024, Citizens and Farmers Bank had $1,426,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $244,046,000 in equity and $39,651,000 in loans loss reserves. That gives it a Texas Ratio of 0.5%.

Return on Equity
Citizens and Farmers Bank U.S. Bank Average
11.48% 12.20%

Citizens and Farmers Bank has a Return on Equity of 11.48% versus the BestCashCow average of 12.20%. 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
10.1% 10.76%

Citizens and Farmers Bank has a Capitalization of 10.1% versus the BestCashCow average of 10.76. 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, 2023, Citizens and Farmers Bank had assets of $2,416,783,000, loans of $1,716,994,000, and deposits of $2,080,784,000. 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, 2024
ASSETS
Cash & Balances due from depository institutions $ 77.40 million
Interest-bearing balances $ 39.21 million
Total securities $ 468.13 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,716.99 million
Loan loss allowance $ 39.65 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 26.60 million
All other assets $ 68.09 million
     Total Assets $ 2.17 billion
LIABILITIES
Total deposits $ 2.08 billion
      Interest-bearing deposits $ 1,516.81 million
      Deposits held in domestic offices $ 2.08 billion
      % insured (estimated) 72.01%
Federal funds purchased and repurchase agreements $ 30.72 million
Trading liabilities N.A.
Other borrowed funds $ 6.25 million
Subordinated debt N.A.
All other liabilities $ 24.93 million
      Total Liabilities $ 2.17 billion
      Shareholders’ Equity $ 244.05 million

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 125.17 million
Total Interest Expense $ 24.19 million
Net interest income $ 100.98 million
Provision for loan and lease losses $ 8.28 million
Total non interest income $ 26.29 million
Total non interest expense $ 86.26 million
Pre-tax Net Operating Income $ 17.85 million

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 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 22.98
Multifamily
Mortgages
5.00
Credit Card Loans 0.00
Consumer Auto Loans 22.34
Small Business Loans 10.17
Construction and Development Loans 9.26
Commercial Real Estate 21.55
Commercial and Industrial Loans 3.46
Farm Loans 0.00

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