Citizens First Bank is an American

community bank A community bank is a depository institution that is typically locally owned and operated. Community banks tend to focus on the needs of the businesses and families where the bank holds branches and offices. Lending decisions are made by people w ...

that is headquartered in

The Villages, Florida The Villages is a census-designated place (CDP) in central Florida. It is in Sumter and Marion counties, Florida, United States. It shares its name with a broader master-planned age-restricted community that spreads into portions of Lake Count ...

. It was founded on July 1, 1991. , Citizens First Bank had 14 branches throughout

Central Florida Central Florida is a region of the U.S. state of Florida. Different sources give different definitions for the region, but as its name implies it is usually said to comprise the central part of the state, including the Tampa Bay area and the Gr ...

. It holds more than $2 billion in assets and is insured by the

Federal Deposit Insurance Corporation The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cred ...

. Citizens First Bank is the tenth largest bank in the state of Florida. A 2014 report claimed that over 72 percent of residents in

banked with Citizens First Bank. , Citizens First Bank had a market share of over 51 percent in

The Villages ''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the m ...

. The company has been noted for its customer service, particularly offering amenities such as lobby hosts and popcorn to customers. The bank has a primarily older clientele, composed mainly of retirees and seasonal residents.

History

Originally founded as First Bank of the Villages in 1991, Citizens First Bank was renamed in 1998. Citizens First Bank was created by Harold Schwartz, the founder of

. According to Schwartz, the bank was, "created specifically to fill the needs of our community and to conscientiously and joyously serve our Villages residents in every possible way." In 2001, the bank moved their headquarters from

Lady Lake, Florida Lady Lake is a town in Lake County, Florida, United States. The population was 13,926 at the 2010 census. As of 2019, the population recorded by the U.S. Census Bureau is 16,020. It is part of the Orlando–Kissimmee–Sanford Metropolitan Stati ...

. Lindsey M. Blaise, granddaughter of Villages founder Gary Morse, has served as President & CEO since 2019. In 2017, Citizens First Bank sold its

Leesburg, Florida Leesburg is a city in central Florida. The population was 20,117 at the 2010 census. As of 2019, the population recorded by the U.S. Census Bureau was 23,671. Leesburg is in Lake County, between Lake Harris and Lake Griffin, at the head of the ...

branch to a real estate developer and moved to a newly built location. The company also announced plans to open a new branch in

Fruitland Park, Florida Fruitland Park is a city in Lake County, Florida, United States. The population was 4,078 at the 2010 census. The Census Bureau estimated the population in 2018 to be 10,122. It is part of the Orlando–Kissimmee–Sanford Metropolitan St ...

that year. In 2018, Citizens First Bank purchased a branch office from CBC National Bank in The Villages, FL. At the time of purchase, the branch had about $35 million in deposits. In 2018, the company announced plans to open a new branch near the Village of Fenney, further expanding southward. In 2019, news broke of the bank's plans to build a new headquarters in

Wildwood, Florida Wildwood is a city in Sumter County, Florida, United States. The population was 6,709 at the 2010 census. According to the U.S. Census Bureau's 2018 estimates, the city had a population of 7,024. Due to rapid growth the city had over 33,000 res ...

. In January 2019, the Wildwood City Council accepted a $3 million offer for an 18-acre parcel of city-owned land. The company plans to build a 45,000 square-foot administrative building on the land. In October 2019, the company announced plans to open a new branch in

Ocala, Florida Ocala ( ) is a city in and the county seat of Marion County within the northern region of Florida, United States. As of the 2020 United States Census, the city's population was 63,591, making it the 54th most populated city in Florida. Home to ...

Structure

Citizens First Bank is owned and operated by Villages Bancorporation, Inc. As of 2021, the bank had over 300 employees, fourteen branch locations, and over 70 ATMs throughout

. Citizens First Bank operates mainly in

, with branches in the surrounding communities of

and

. The bank also began operating a branch in

Clermont, Florida Clermont is a city in Lake County in central Florida, United States, about west of Orlando and southeast of Leesburg. The population was 43,021 in 2020. The city is residential in character and its economy is centered in retail trade, lodging, ...

in 2007, but later closed it.

Other services

Citizens First Bank offers wealth and investment management services under the name Citizens First Wealth Advisors.

Community involvement

Citizens First Bank has been involved in numerous community outreach efforts over the years, including homebuilding partnerships with

Habitat for Humanity Habitat for Humanity International (HFHI), generally referred to as Habitat for Humanity or Habitat, is a US non-governmental, and nonprofit organization which was founded in 1976 by couple Millard and Linda Fuller. Habitat for Humanity is a Ch ...

, scholarship donations to the Buffalo Scholarship Foundation, and participation in local events such as the Villages Charter School Annual BBQ Bash, Bless Fruitland Park's Love Week and The Villages Relay for Life. Citizens First Bank also created a scam prevention program called Fraud Busters. Since its inception in 2009, the program has saved customers nearly $1 million by stopping scam-related activity. In 2018, Citizens First Bank sponsored the construction of a home in

, in partnership with Habitat for Humanity of Lake-Sumter. In 2020, during the coronavirus crisis, Citizens First Bank successfully secured $105 million in

Paycheck Protection Program The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Donald Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES A ...

funds for small businesses in the area.

Awards

In 2019,

Coral Gables, Florida Coral Gables, officially City of Coral Gables, is a city in Miami-Dade County, Florida. The city is located southwest of Downtown Miami. As of the 2020 U.S. census, it had a population of 49,248. Coral Gables is known globally as home to the ...

, based financial rating agency,

Bauer Financial Bauer Financial (stylized as BauerFinancial) is a financial rating agency based in Coral Gables, Florida. Karen L. Dorway is the president of Bauer Financial. History Bauer Financial was founded in 1983, in Coral Gables, Florida, by Paul A. Bau ...

, gave Citizens First Bank a five-star rating. In May 2020, Citizens First Bank was named number 24 out of 25 for banks with more than $1 billion in assets in the

Independent Community Bankers of America The Independent Community Bankers of America (ICBA) is the primary trade group for small U.S. banks. It represents approximately 5,000 small and mid-sized financial institutions that are commonly known as "community banks." The ICBA hosts conventio ...

's Best of the Best. In June 2020, DepositAccounts.com named Citizens First Bank one of its Top 200 Healthiest Banks of 2020.

References

{{Reflist American companies established in 1991 Banks based in Florida