Citizens First (CZFC) 10-Q 11 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 11, 2017
Document and Entity Information
Entity Registrant Name	CITIZENS FIRST CORP
Entity Central Index Key	1,073,475
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,019,052
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and due from financial institutions	$ 6,715	$ 8,542
Cash and cash equivalents	6,715	8,542
Interest-bearing deposits in other financial institutions	22,537	11,018
Available-for-sale securities	47,125	53,547
Loans held for sale	221	264
Loans, net of allowance for loan losses of $4,906 and $4,854 at March 31, 2017 and December 31, 2016, respectively	360,656	354,537
Premises and equipment, net	9,310	9,390
Bank owned life insurance (BOLI)	8,394	8,351
Federal Home Loan Bank (FHLB) stock, at cost	2,025	2,025
Accrued interest receivable	1,386	1,622
Deferred income taxes	1,353	1,464
Goodwill and other intangible assets	4,274	4,291
Other assets	458	371
Total Assets	464,454	455,422
Deposits.
Noninterest bearing	48,598	52,322
Savings, NOW and money market	174,726	173,620
Time	150,072	144,497
Total deposits	373,396	370,439
FHLB advances and other borrowings	41,000	35,000
Subordinated debentures	5,000	5,000
Accrued interest payable	235	220
Other liabilities	1,436	2,399
Total Liabilities	421,067	413,058
Stockholders' Equity
6.5% cumulative preferred stock, no par value, authorized 250 shares, aggregate liquidation preference of $7,998; issued and outstanding 229 and 237 shares at March 31, 2017 and December 31, 2016, respectively	7,016	7,261
Common stock, no par value, authorized 5,000,000 shares; issued and outstanding 2,019,052 and 2,000,852 shares at March 31, 2017 and December 31, 2016, respectively	26,186	25,920
Retained earnings	10,493	9,706
Accumulated other comprehensive income (loss)	(308)	(523)
Total stockholders' equity	43,387	42,364
Total liabilities and stockholders' equity	$ 464,454	$ 455,422

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Consolidated Balance Sheets
Loans, allowance for loan losses (in dollars)	$ 4,906	$ 4,854
Preferred stock, dividend rate (as a percent)	6.50%	6.50%
Preferred stock no par value	$ 0	$ 0
Preferred stock, authorized shares	250	250
Preferred stock, aggregate liquidation preference (in dollars)	$ 7,998	$ 7,998
Preferred stock, issued shares	229	237
Preferred stock, outstanding shares	229	237
Common stock no par value	$ 0	$ 0
Common stock, authorized shares	5,000,000	5,000,000
Common stock, issued shares	2,019,052	2,000,852
Common stock, outstanding shares	2,019,052	2,000,852

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Interest and dividend income
Loans	$ 4,124	$ 4,103
Taxable securities	149	178
Non-taxable securities	137	159
Federal funds sold and other	47	36
Total interest and dividend income	4,457	4,476
Interest expense
Deposits	547	528
FHLB advances and other	97	57
Subordinated debentures	33	28
Total interest expense	677	613
Net interest income	3,780	3,863
Provision for loan losses	30
Net interest income after provision for loan losses	3,750	3,863
Non-interest income
Service charges on deposit accounts	278	325
Other service charges and fees	264	248
Gain on sale of mortgage loans	68	77
Non-deposit brokerage fees	87	72
Lease income	52	45
BOLI income	43	44
Gain on sale of available-for-sale securities	23	51
Total non-interest income	815	862
Non-interest expenses
Salaries and employee benefits	1,734	1,784
Net occupancy expense	461	483
Advertising and public relations	71	61
Professional fees	130	180
Data processing services	253	256
Franchise shares and deposit tax	132	132
FDIC insurance	49	59
Other real estate owned expenses		1
Other	461	498
Total non-interest expenses	3,291	3,454
Income before income taxes	1,274	1,271
Income taxes	367	366
Net income	907	905
Dividends on preferred stock	119	124
Net income available for common stockholders	$ 788	$ 781
Basic earnings per common share (in dollars per share)	$ 0.39	$ 0.39
Diluted earnings per common share (in dollars per share)	$ 0.36	$ 0.36

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Comprehensive income, net of tax
Net income	$ 907	$ 905
Other comprehensive income (loss)
Reclassification adjustment for gains included in net income, net of taxes	(15)	(34)
Change in unrealized gain on available for sale securities, net of taxes	230	156
Total other comprehensive income (loss)	215	122
Comprehensive income	$ 1,122	$ 1,027

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Preferred Stock	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2015	$ 7,659	$ 25,406	$ 6,304	$ 155	$ 39,524
Increase (Decrease) in Stockholders' Equity
Net income			905		905
Conversion of cumulative preferred	(398)	398
Stock based compensation		11			11
Change in accumulated other comprehensive income (loss)				122	122
Dividend declared and paid on preferred stock			(124)		(124)
Balance at Mar. 31, 2016	7,261	25,815	7,085	277	40,438
Balance at Dec. 31, 2016	7,261	25,920	9,706	(523)	42,364
Increase (Decrease) in Stockholders' Equity
Net income			907		907
Conversion of cumulative preferred	(245)	245
Stock based compensation		21			21
Change in accumulated other comprehensive income (loss)				215	215
Dividend declared and paid on preferred stock			(119)		(119)
Balance at Mar. 31, 2017	$ 7,016	$ 26,186	$ 10,493	$ (308)	$ 43,387

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating Activities
Net income	$ 907	$ 905
Items not requiring (providing) cash:
Depreciation	120	140
Provision (credit) for loan losses	30
Amortization of premiums and discounts on securities	56	81
Amortization of core deposit intangible	18	18
Stock based compensation	21	11
BOLI Income	(43)	(44)
Proceeds from sale of mortgage loans held for sale	3,264	3,609
Origination of mortgage loans held for sale	(3,153)	(3,904)
Gains on sales of available-for-sale securities	(23)	(51)
Gains on sales of mortgage loans held for sale	(68)	(77)
Loss (gain) on sale premises and equipment	(4)	4
Changes in:
Accrued interest receivable	236	217
Other assets	(87)	(213)
Accrued interest payable and other liabilities	(948)	(165)
Net cash provided by operating activities	326	531
Investing Activities
Loan originations and payments, net	(6,149)	635
Purchases of interest-bearing deposits in other financial institutions	(11,519)
Purchase of premises and equipment	(40)	(37)
Proceeds from maturities of available-for-sale securities	1,844	2,309
Proceeds from sales of available-for-sale securities	4,869	2,066
Proceeds from sales of premises and equipment	4
Purchase of available-for-sale securities		(5,692)
Net cash used in investing activities	(10,991)	(719)
Financing Activities
Net change in demand deposits, money market, NOW and savings accounts	(2,618)	5,848
Net change in time deposits	5,575	(13,056)
Proceeds from FHLB advances	13,000	10,000
Repayment of FHLB advances	(7,000)
Repayment of other borrowings		(1,000)
Dividends paid on preferred stock	(119)	(124)
Net cash provided by financing activities	8,838	1,668
Increase (Decrease) in Cash and Cash Equivalents	(1,827)	1,480
Cash and Cash Equivalents, Beginning of Year	8,542	15,255
Cash and Cash Equivalents, End of Year	6,715	16,735
Supplemental Cash Flows Information
Interest paid	662	606
Income taxes paid	565	310
Conversion of cumulative preferred stock	$ 245	$ 398

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations and Summary of Significant Accounting Policies	Note 1 - Nature of Operations and Summary of Significant Accounting Policies The accounting and reporting policies of Citizens First Corporation (the “Company”) and its wholly owned subsidiary, Citizens First Bank, Inc. (the “Bank”), conform to U.S. generally accepted accounting principles and general practices within the banking industry. The consolidated financial statements include the accounts of the Company and the Bank. All significant intercompany transactions and accounts have been eliminated in consolidation. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2015 Annual Report on Form 10-K filed with the Securities and Exchange Commission. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates used in the preparation of the financial statements are based on various factors including the current interest rate environment and the general strength of the local economy. Changes in the overall interest rate environment can significantly affect the Company’s net interest income and the value of its recorded assets and liabilities. Actual results could differ from those estimates used in the preparation of the financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been reflected in the accompanying unaudited financial statements. Those adjustments consist only of normal recurring adjustments. Results of interim periods are not necessarily indicative of results to be expected for the full year. Recent Accounting Pronouncements– In May 2014 the FASB amended existing guidance related to revenue from contracts with customers. This amendment supersedes and replaces nearly all existing revenue recognition guidance, including industry-specific guidance, establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics and expands and improves disclosures about revenue. In addition, this amendment specifies the accounting for some costs to obtain or fulfill a contract with a customer. These amendments are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. In March 2016, the FASB issued ASU 2016-08 that clarifies how to apply revenue recognition guidance related to whether an entity is a principal or an agent. The amendments in this update affect this guidance issued in 2014 that is not yet effective. The Company does not expect the new standard, or any of the amendments, to result in a material change from our current accounting for revenue. In January 2016 the FASB issued ASU 2016-01 which amends existing guidance on the classification and measurement of financial instruments. This new standard revises an entity’s accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The new standard is effective for reporting periods beginning after December 15, 2017. The Company is currently evaluating the impact of this new accounting standard on the consolidated financial statements. In February 2016 the FASB issued ASU 2016-02 which establishes the principles to report information about the assets and liabilities that arise from leases. This new standard changes the way operating leases are accounted for and reflected on the lessee’s balance sheet. The new standard is intended to increase transparency and comparability by requiring lessees to recognize the financial obligation and right-of-use asset associated with operating leases that have a lease term of more than 12 months on the balance sheet. The new standard is effective for reporting periods beginning after December 15, 2018. The Company is currently evaluating the impact of this new accounting standard on the consolidated financial statements. Based on the leases outstanding at March 31, 2017, we do not expect the new standard to have a material impact on our consolidated financial statements. In March 2016 the FASB issued ASU 2016-09 which provides guidance on share-based payment accounting. The new standard includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. The new standard became effective January 1, 2017 and did not have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduces the current expected credit loss (CECL) model and replaces the incurred loss model. The most significant impact for financial institutions will be to the allowance for loan and lease losses (ALLL). The standard allows for various expected credit loss estimation methods and is scalable. This standard is effective for public companies for reporting periods beginning after December 15, 2019. We have attended training sessions and are assessing our data and system needs and evaluating the impact of adopting this new accounting standard. The Company expects to recognize a one-time increase to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective, but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of this standard on the consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization of Purchased Callable Debt Securities. The final standard will shorten the amortization period for premiums on callable debt securities by requiring that premiums be amortized to the first (or earliest) call date instead of as an adjustment to the yield over the contractual life. The standard is effective for public companies for fiscal years beginning after December 15, 2018. Early adoption is permitted. This new accounting standard is not expected to have a material impact on the consolidated financial statements.

Reclassifications

Reclassifications	3 Months Ended
	Mar. 31, 2017
Reclassifications
Reclassifications	Note 2 - Reclassifications Certain reclassifications have been made to the consolidated financial statements of prior periods to conform to the current period presentation. These reclassifications do not affect net income or total stockholders’ equity as previously reported.

Available-For-Sale Securities

Available-For-Sale Securities	3 Months Ended
	Mar. 31, 2017
Available-For-Sale Securities
Available-For-Sale Securities	Note 3 - Available-For-Sale Securities The following table summarizes the amortized cost and fair value of the available-for-sale securities portfolio at March 31, 2017 and December 31, 2016 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income: (Dollars in Thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value March 31, 2017 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (22) $ 1,976 Agency mortgage-backed securities: residential 23,007 112 (142) 22,977 State and municipal 20,702 270 (60) 20,912 Trust preferred security 1,885 — (625) 1,260 Corporate bonds — — — — Total Available-for-Sale Securities $ 47,592 $ 382 $ (849) $ 47,125 December 31, 2016 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (41) $ 1,957 Agency mortgage-backed securities: residential 28,148 99 (290) 27,957 State and municipal 21,310 216 (146) 21,380 Trust preferred security 1,884 — (644) 1,240 Corporate bonds 1,000 13 — 1,013 Total Available-for-Sale Securities $ 54,340 $ 328 $ (1,121) $ 53,547 The amortized cost and fair value of investment securities at March 31, 2017 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. March 31, 2017 (Dollars in Thousands) Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 2,641 $ 2,642 Due from one to five years 11,519 11,575 Due from five to ten years 6,024 6,115 Due after ten years 4,401 3,816 Agency mortgage-backed: residential 23,007 22,977 Total $ 47,592 $ 47,125 The following table summarizes the investment securities with unrealized losses by portfolio segment at March 31, 2017 and December 31, 2016, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position: (Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2017: U.S. government agencies and government sponsored entities $ 1,976 $ (22) $ — $ — $ 1,976 $ (22) Agency mortgage-backed: residential 10,106 (120) 1,782 (22) 11,888 (142) State and municipal 4,083 (58) 374 (2) 4,457 (60) Trust preferred security — — 1,260 (625) 1,260 (625) Total temporarily impaired $ 16,165 $ (200) $ 3,416 $ (649) $ 19,581 $ (849) (Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2016: U.S. government agencies and government sponsored entities $ 1,957 $ (41) $ — $ — $ 1,957 $ (41) Agency mortgage-backed: residential 16,722 (290) — — 16,722 (290) State and municipal 9,399 (142) 293 (4) 9,692 (146) Trust preferred security — — 1,240 (644) 1,240 (644) Total temporarily impaired $ 28,078 $ (473) $ 1,533 $ (648) $ 29,611 $ (1,121) Other-Than-Temporary-Impairment Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. Investment securities classified as available-for-sale are generally evaluated for OTTI under ASC Topic 320, “Investments - Debt and Equity Securities.” In determining OTTI under the ASC Topic 320 model, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. All rated securities are investment grade. For those that are not rated, the financial condition has been evaluated and no adverse conditions were identified related to repayment. Declines in fair value are a function of rate differences in the market and market illiquidity. The Company does not intend or is not expected to be required to sell these securities before recovery of their amortized cost basis. The majority of the Company’s unrealized losses 12 months or more relate to its investment in a single trust preferred security. The security is a single-issuer trust preferred that is not rated. No impairment charge is being taken as no loss of principal or interest is anticipated. All principal and interest payments are being received as scheduled. On a quarterly basis, we evaluate the creditworthiness of the issuer, a bank holding company with operations in the state of Kentucky. Based on the issuer’s continued profitability and well-capitalized position, we do not deem that there is credit loss. The decline in fair value is primarily attributable to illiquidity affecting these markets and not the expected cash flows of the individual securities. We have evaluated the financial condition and near term prospects of the issuer and expect to fully recover our cost basis. This security continues to pay interest as agreed and future payments are expected to be made as agreed. This security is not considered to be other-than-temporarily impaired.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2017
Loans and Allowance for Loan Losses
Loans and Allowance for Loan Losses	Note 4 - Loans and Allowance for Loan Losses Categories of loans include: (Dollars in Thousands) March 31, 2017 December 31, 2016 Commercial $ 59,831 $ 60,388 Commercial real estate: Construction 44,625 38,168 Other 177,157 178,343 Residential real estate 80,133 78,422 Consumer: Auto 1,176 1,195 Other 2,640 2,875 Total Loans 365,562 359,391 Less: Allowance for loan losses (4,906) (4,854) Net loans $ 360,656 $ 354,537 The following table sets forth an analysis of our allowance for loan losses for the three months ending March 31, 2017 and 2016. (Dollars in Thousands) March 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 615 $ 3,628 $ 527 $ 14 $ 70 $ 4,854 Provision (credit) for loan losses 31 12 7 (1) (19) 30 Loans charged-off — — — (1) — (1) Recoveries 19 — 3 1 — 23 Total ending allowance balance $ 665 $ 3,640 $ 537 $ 13 $ 51 $ 4,906 (Dollars in Thousands) March 31, 2016 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 812 $ 3,431 $ 524 $ 28 $ 121 $ 4,916 Provision (credit) for loan losses (174) 129 82 (4) (33) — Loans charged-off — — (8) — — (8) Recoveries 107 25 4 — — 136 Total ending allowance balance $ 745 $ 3,585 $ 602 $ 24 $ 88 $ 5,044 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of March 31, 2017 and December 31, 2016, which includes net deferred loan fees. As of March 31, 2017 and December 31, 2016, accrued interest receivable of $1.1 million and $1.3 million, respectively, are not considered significant and therefore not included in the recorded investment in loans presented in the following tables. (Dollars in Thousands) March 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 105 $ 239 $ — $ 1 $ — $ 345 Collectively evaluated 560 3,401 537 12 51 4,561 Total ending allowance balance $ 665 $ 3,640 $ 537 $ 13 $ 51 $ 4,906 Loans: Individually evaluated for impairment $ 157 $ 3,327 $ 1,241 $ 21 $ — $ 4,746 Collectively evaluated 59,674 218,455 78,892 3,795 — 360,816 Total ending loans balance $ 59,831 $ 221,782 $ 80,133 $ 3,816 $ — $ 365,562 (Dollars in Thousands) December 31, 2016 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 5 $ 192 $ — $ 1 $ — $ 198 Collectively evaluated 610 3,436 527 13 70 4,656 Total ending allowance balance $ 615 $ 3,628 $ 527 $ 14 $ 70 $ 4,854 Loans: Individually evaluated for impairment $ 60 $ 1,533 $ 837 $ 23 $ — $ 2,453 Collectively evaluated 60,328 214,978 77,585 4,047 — 356,938 Total ending loans balance $ 60,388 $ 216,511 $ 78,422 $ 4,070 $ — $ 359,391 The following table presents information related to impaired loans by class of loans as of March 31, 2017 and December 31, 2016. In this table presentation the unpaid principal balance of the loans has not been reduced by partial net charge-offs and the recorded investment of the loans was reduced by partial net charge-offs. (Dollars in Thousands) (Dollars in Thousands) March 31, 2017 December 31, 2016 Unpaid Recorded Allowance Loan Unpaid Recorded Allowance With no related allowance recorded: Commercial $ 52 $ 52 $ — $ 53 $ 53 $ — Commercial real estate: Construction — — — — — — Other 2,254 2,254 — 579 579 — Residential real estate 1,239 1,239 — 837 837 — Consumer: Auto — — — — — — Other 4 4 — 5 5 — Subtotal $ 3,549 $ 3,549 $ — $ 1,474 $ 1,474 $ — With an allowance recorded: Commercial $ 105 $ 105 $ 105 $ 7 $ 7 $ 5 Commercial real estate: Construction — — — — — — Other 1,073 1,073 239 954 954 192 Residential real estate 2 2 — — — — Consumer: Auto — — — — — — Other 17 17 1 18 18 1 Subtotal $ 1,197 $ 1,197 $ 345 $ 979 $ 979 $ 198 Total $ 4,746 $ 4,746 $ 345 $ 2,453 $ 2,453 $ 198 Information on impaired loans for the three months ending March 31, 2017 and 2016 is as follows: (Dollars in Thousands) (Dollars in Thousands) March 31, 2017 March 31, 2016 Average Interest Cash Basis Average Interest Cash B asis Commercial $ 159 $ 3 $ 3 $ 141 $ 3 $ 3 Commercial real estate: Construction — — — — — — Other 3,331 15 13 2,047 26 21 Residential real estate 1,244 9 8 857 9 8 Consumer: Auto — — — — — — Other 22 — — 16 — — Total $ 4,756 $ 27 $ 24 $ 3,061 $ 38 $ 32 The recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of March 31, 2017 and December 31, 2016 are summarized below: (Dollars in Thousands) (Dollars in Thousands) March 31, 2017 December 31, 2016 Loans Past Due Nonaccrual Loans Past Due Nonaccrual Commercial $ — $ 100 $ — $ — Commercial real estate: Other — 2,382 — — Residential real estate — 559 — 23 Total $ — $ 3,041 $ — $ 23 Nonaccrual loans and loans past due 90 days still on accrual include individually classified impaired loans. The following tables present the aging of the recorded investment in past due loans as of March 31, 2017 and December 31, 2016 by class of loans. Non-accrual loans are included and have been categorized based on their payment status: (Dollars in Thousands) 30-59 60-89 Over 90 Total Past Current Total March 31, 2017 Commercial $ 30 $ — $ — $ 30 $ 59,801 $ 59,831 Commercial real estate: Construction — — — — 44,625 44,625 Other 1,099 1,283 — 2,382 174,775 177,157 Residential real estate 155 295 109 559 79,574 80,133 Subtotal $ 1,285 $ 1,578 $ 109 $ 2,972 $ 362,590 $ 365,562 (Dollars in Thousands) 30-59 60-89 Over 90 Total Past Current Total December 31, 2016 Commercial $ — $ — $ — $ — $ 60,388 $ 60,388 Commercial real estate: Construction — — — — 38,168 38,168 Other — — — — 178,343 178,343 Residential real estate 166 29 23 218 78,204 78,422 Consumer: Auto 1 — — 1 1,194 1,195 Other — — — — 2,875 2,875 Subtotal $ 167 $ 29 $ 23 $ 219 $ 359,172 $ 359,391 Troubled Debt Restructurings: The Company reported total troubled debt restructurings of $2.3 million and $2.3 million as of March 31, 2017 and December 31, 2016, respectively. The Company has no commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings. Troubled debt restructurings are included in impaired loans. The modifications of the terms of these loans included reducing the interest rate, granting an interest only payment period, or extending the terms of the debt for customers experiencing financial difficulties. Of the 11 troubled debt restructurings reported at quarter end, all but one loan was on accrual status. There were no troubled debt restructurings that occurred during the three months ending March 31, 2017, and one troubled debt restructuring that occurred during the three months ending March 31, 2016. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ending March 31, 2017 and 2016. (Dollars in Thousands) (Dollars in Thousands) Number Pre- Post- Number Pre- Post-Modification Outstanding Recorded March 31, 2017 March 31, 2016 Troubled Debt Restructurings: Consumer — — — 1 14 14 Total — $ — $ — 1 $ 14 $ 14 Specific allocations of $194,000 and $234,000 were reported for troubled debt restructurings as of March 31, 2017 and March 31, 2016. No payment defaults or charge-offs were reported for troubled debt restructuring during the three months ending March 31, 2017 and March 31, 2016. The terms of certain other loans were modified during the three months ending March 31, 2017 and 2016 that did not meet the definition of a troubled debt restructuring. These loans modified during the three months ending March 31, 2017 have a total recorded investment of $7.7 million as of March 31, 2017. These loans modified during the three months ending March 31, 2016 had a total recorded investment of $12.0 million as of March 31, 2016. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes commercial and commercial real estate loans with an outstanding balance greater than $25 thousand and is reviewed on a monthly basis. For residential real estate and consumer loans the analysis primarily involves monitoring the past due status of these loans and at such time that these loans are past due, the Company evaluates the loans to determine if a change in risk category is warranted. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. All loans in all loan categories are assigned risk ratings. Based on the most recent analyses performed, the risk category of loans by class of loans is as follows: (Dollars in Thousands) Pass Special Substandard Doubtful Total March 31, 2017 Commercial $ 58,399 $ — $ 1,432 $ — $ 59,831 Commercial real estate: Construction 44,625 — — — 44,625 Other 172,253 730 4,174 — 177,157 Residential real estate 79,574 — 559 — 80,133 Consumer: Auto 1,176 — — — 1,176 Other 2,630 — 10 — 2,640 Total $ 358,657 $ 730 $ 6,175 $ — $ 365,562 (Dollars in Thousands) Pass Special Substandard Doubtful Total December 31, 2016 Commercial $ 59,990 $ — $ 398 $ — $ 60,388 Commercial real estate: Construction 38,168 — — — 38,168 Other 174,507 741 3,095 — 178,343 Residential real estate 77,982 — 440 — 78,422 Consumer: Auto 1,195 — — — 1,195 Other 2,867 — 8 — 2,875 Total $ 354,709 $ 741 $ 3,941 $ — $ 359,391

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Fair Value Measurements
Fair Value Measurements	Note 5 - Fair Value Measurements Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. Level 3 – Significant unobservable inputs that are supported by little or no market activity, reflect a company’s own assumptions about market participant assumptions of fair value, and are significant to the fair value of the assets or liabilities. In determining the appropriate levels, the Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Investment Securities: The fair value of securities available-for-sale are determined by obtaining quoted prices on nationally recognized securities exchanges (level 1 inputs) or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (level 2 inputs). The Company does not have any Level 1 securities. Level 2 securities include certain U.S. agency bonds, collateralized mortgage and debt obligations, and certain municipal securities. The Company also has one Level 3 security. The value of this single issue trust preferred security is obtained on a quarterly basis directly from the originating broker. Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Other Real Estate Owned: Commercial and residential real estate properties classified as other real estate owned (OREO) are measured at fair value, less costs to sell. Fair values are based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Appraisals for collateral-dependent impaired loans and real estate properties classified as other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Bank management. The appraisal values for collateral-dependent impaired loans are discounted to allow for selling expenses and fees, the limited use nature of various properties, the age of the most recent appraisal, and additional discretionary discounts for location, condition, etc. The Bank annually obtains an updated current appraisal value for each OREO property to certify that the fair value has not declined. For each parcel of OREO that has declined in value, the Bank records the decline in value by a direct writedown of the asset. Assets measured at fair value on a recurring basis: Fair Value Measurements at: (Dollars in Thousands) (Dollars in Thousands) March 31, 2017 December 31, 2016 Quoted Significant Significant Quoted Significant Significant Assets: Securities available-for-sale U. S. government agencies and government sponsored entities — $ 1,976 — — $ 1,957 — Agency mortgage-backed securities-residential — 22,977 — — 27,957 — State and municipal — 20,912 — — 21,380 — Trust preferred security — — 1,260 — — 1,240 Corporate bonds — — — — 1,013 — Total investment securities $ — $ 45,865 $ 1,260 $ — $ 52,307 $ 1,240 The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31: Trust Preferred Security 2017 2016 Balance of recurring Level 3 assets at January 1 $ 1,240 $ 1,340 Total gains or (losses) for the period: Included in other comprehensive income 20 (40) Balance of recurring Level 3 assets at March 31 $ 1,260 $ 1,300 At March 31, 2017, there were significant unobservable inputs (level 3) totaling $78,000 of impaired commercial real estate loans. These loans had adjustments using sales comparison valuation techniques for limited use nature of certain properties, age of appraisal, location, and/or condition. These unobservable inputs resulted in adjustments of 20% (weighted average). There were no financial assets measured at fair value on a non-recurring basis as of December 31, 2016. Impaired loans, which are measured for impairment using the fair value of collateral for collateral dependent loans, had a principal balance of $227,000 at March 31, 2017, with a valuation allowance of $149,000, resulting in an additional provision for loan losses of $149,000 in the quarter ending March 31, 2017. There were no loans measured for impairment using the fair value of collateral dependent loans, no valuation allowance, and no resulting provision for loan losses as of December 31, 2016. There was no other real estate owned to measure at fair value at March 31, 2017 or December 31, 2016. No write-downs of other real estate were taken in the quarters ending March 31, 2017 or March 31, 2016. The carrying amount and estimated fair values of financial instruments at March 31, 2017 and December 31, 2016 were as follows: Fair Value Measurements at March 31, 2017 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 6,715 $ 6,715 $ — $ — $ 6,715 Interest-bearing deposits in other financial institutions 22,537 22,537 — — 22,537 Available-for-sale-securities 47,125 — 45,865 1,260 47,125 Loans, net of allowance 360,656 — — 359,077 359,077 Loans held for sale 221 — 224 — 224 Accrued interest receivable 1,386 7 253 1,126 1,386 Federal Home Loan Bank stock 2,025 — — — N/A Financial Liabilities Demand and savings deposits $ 223,324 $ 223,324 $ — $ — $ 223,324 Time deposits 150,072 — 150,209 — 150,209 FHLB advances 41,000 — 40,875 — 40,875 Other borrowings — — — — — Subordinated debentures 5,000 — — 2,495 2,495 Accrued interest payable 235 13 189 34 236 Fair Value Measurements at December 31, 2016 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 8,542 $ 8,542 $ — $ — $ 8,542 Interest-bearing deposits in other financial institutions 11,018 11,018 — — 11,018 Available-for-sale-securities 53,547 — 52,307 1,240 53,547 Loans, net of allowance 354,537 — — 354,300 354,300 Loans held for sale 264 — 266 — 266 Accrued interest receivable 1,622 16 268 1,338 1,622 Federal Home Loan Bank stock 2,025 — — — N/A Financial Liabilities Demand and savings deposits $ 225,942 $ 225,942 $ — $ — $ 225,942 Time deposits 144,497 — 144,558 — 144,558 FHLB advances 35,000 — 34,897 — 34,897 Other borrowings — — — — — Subordinated debentures 5,000 — — 2,495 2,495 Accrued interest payable 220 12 175 33 220 The methods and assumptions used to estimate fair value are described as follows: (a) Cash and Cash Equivalents: The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. (b) Interest Bearing Deposits in Other Financial Institutions: Fair values are based on quoted market prices. (c) FHLB Stock: It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. (d) Loans: Fair values of loans, excluding loans held for sale, are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. The fair value of loans held for sale is estimated based upon binding contracts and quotes from first party investors resulting in a Level 2 classification. (e) Deposits: The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. The carrying amounts of variable rate certificates of deposit approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. (f) FHLB Advances and Other Borrowings/Subordinated Debentures: The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. (g) Accrued Interest Receivable/Payable: The carrying amounts of accrued interest approximate fair value resulting in a classification consistent with the asset/liability they are associated with.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share
Earnings Per Share	Note 6 - Earnings Per Share Basic earnings per share have been computed by dividing net income available for common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share have been computed the same as basic earnings per share, and assumes the conversion of outstanding stock options, convertible preferred stock and warrants, if dilutive. The following table reconciles the basic and diluted earnings per share computations for the three months ended March 31, 2017 and 2016. Three months ended March 31, 2017 Three months ended March 31, 2016 Weighted Weighted Average Per Share Average Per Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 907 $ 905 Dividends on preferred stock during the year (119) (124) Net income available to common shareholders $ 788 2,012,126 $ 0.39 $ 781 1,993,577 $ 0.39 Effect of dilutive securities: Stock options — — — 95 Performance share units — 8,122 — 4,658 Convertible preferred stock 119 527,901 124 543,950 Diluted earnings per share: Net income available to common stockholders and assumed conversions $ 907 2,548,149 $ 0.36 $ 905 2,542,280 $ 0.36

Regulatory Capital Matters

Regulatory Capital Matters	3 Months Ended
	Mar. 31, 2017
Regulatory Capital Matters
Regulatory Capital Matters	Note 7 - Regulatory Capital Matters Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Management believes as of March 31, 2017 and December 31, 2016, the Company and Citizens First Bank, Inc. met all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. The most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. Under quantitative measures established by regulation to ensure capital adequacy, we are required to maintain minimum amounts and ratios of total Tier 1 capital to risk-weighted assets and to total assets. Interim Final Basel III rules require the Bank to maintain minimum amounts and ratios of common equity Tier I capital to risk-weighted assets. Under Basel III rules, the decision was made to opt-out of including accumulated other comprehensive income in computing regulatory capital. The rules also established a "capital conservation buffer" of 2.5%, to be phased in through January 1, 2019, above the new regulatory minimum risk-based capital ratios. The buffer is 1.25% as of March 31, 2017. The buffer could limit the payment of dividends and discretionary bonuses to officers if a bank fails to maintain required capital levels. The Company’s and Citizens First Bank, Inc.’s actual capital amounts and ratios are also presented in the following table. (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions March 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 49,541 12.50 % $ 31,711 8.00 % N/A N/A Citizens First Bank, Inc. 49,050 12.38 % 31,701 8.00 % $ 39,627 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 44,634 11.26 % 23,783 6.00 % N/A N/A Citizens First Bank, Inc. 44,144 11.14 % 23,776 6.00 % 31,701 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 32,619 8.23 % 17,835 4.50 % N/A N/A Citizens First Bank, Inc. 44,144 11.14 % 17,832 4.50 % 25,757 6.50 % Tier I Leverage Capital to average assets Consolidated 44,634 9.96 % 17,925 4.00 % N/A N/A Citizens First Bank, Inc. 43,497 9.85 % 17,921 4.00 % 22,401 5.0 % (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 48,671 12.62 % $ 30,848 8.00 % N/A N/A Citizens First Bank, Inc. 48,316 12.53 % 30,843 8.00 % $ 38,554 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 43,852 11.37 % 23,136 6.00 % N/A N/A Citizens First Bank, Inc. 43,497 11.28 % 23,132 6.00 % 30,843 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 31,585 8.19 % 17,352 4.50 % N/A N/A Citizens First Bank, Inc. 43,497 11.28 % 17,349 4.50 % 25,060 6.50 % Tier I Leverage Capital to average assets Consolidated 43,852 9.97 % 17,600 4.00 % N/A N/A Citizens First Bank, Inc. 43,497 9.89 % 17,600 4.00 % 22,000 5.0 % (1) When fully phased-in on January 1, 2019, Basel III Capital Rules will require banking organizations to maintain: a minimum ratio of common equity Tier 1 to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer”; a minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer; a minimum ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer; and a minimum ratio of Tier 1 capital to adjusted average consolidated assets of at least 4.0%.

Preferred Stock

Preferred Stock	3 Months Ended
	Mar. 31, 2017
Preferred Stock
Preferred Stock	Note 8 - Preferred Stock In 2004, the Company issued 250 shares of Cumulative Convertible Preferred Stock, stated value $31,992 per share (Cumulative Preferred Stock), for an aggregate purchase price of $7,998,000. The Cumulative Preferred Stock was sold for $31,992 per share, is entitled to quarterly cumulative dividends at an annual fixed rate of 6.5% and is convertible into shares of common stock of the Company at an initial conversion price per share of $15.50 (currently $14.06, adjusted for stock dividends) on and after three years after the date of issuance. As of March 31, 2017, 21 preferred shares have converted to 47,775 common shares.

Nature of Operations and Summ16

Nature of Operations and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations and Summary of Significant Accounting Policies	Nature of Operations and Summary of Significant Accounting Policies The accounting and reporting policies of Citizens First Corporation (the “Company”) and its wholly owned subsidiary, Citizens First Bank, Inc. (the “Bank”), conform to U.S. generally accepted accounting principles and general practices within the banking industry. The consolidated financial statements include the accounts of the Company and the Bank. All significant intercompany transactions and accounts have been eliminated in consolidation. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2015 Annual Report on Form 10-K filed with the Securities and Exchange Commission. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates used in the preparation of the financial statements are based on various factors including the current interest rate environment and the general strength of the local economy. Changes in the overall interest rate environment can significantly affect the Company’s net interest income and the value of its recorded assets and liabilities. Actual results could differ from those estimates used in the preparation of the financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been reflected in the accompanying unaudited financial statements. Those adjustments consist only of normal recurring adjustments. Results of interim periods are not necessarily indicative of results to be expected for the full year.
Recent Accounting Pronouncements	Recent Accounting Pronouncements– In May 2014 the FASB amended existing guidance related to revenue from contracts with customers. This amendment supersedes and replaces nearly all existing revenue recognition guidance, including industry-specific guidance, establishes a new control-based revenue recognition model, changes the basis for deciding when revenue is recognized over time or at a point in time, provides new and more detailed guidance on specific topics and expands and improves disclosures about revenue. In addition, this amendment specifies the accounting for some costs to obtain or fulfill a contract with a customer. These amendments are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. In March 2016, the FASB issued ASU 2016-08 that clarifies how to apply revenue recognition guidance related to whether an entity is a principal or an agent. The amendments in this update affect this guidance issued in 2014 that is not yet effective. The Company does not expect the new standard, or any of the amendments, to result in a material change from our current accounting for revenue. In January 2016 the FASB issued ASU 2016-01 which amends existing guidance on the classification and measurement of financial instruments. This new standard revises an entity’s accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. The new standard is effective for reporting periods beginning after December 15, 2017. The Company is currently evaluating the impact of this new accounting standard on the consolidated financial statements. In February 2016 the FASB issued ASU 2016-02 which establishes the principles to report information about the assets and liabilities that arise from leases. This new standard changes the way operating leases are accounted for and reflected on the lessee’s balance sheet. The new standard is intended to increase transparency and comparability by requiring lessees to recognize the financial obligation and right-of-use asset associated with operating leases that have a lease term of more than 12 months on the balance sheet. The new standard is effective for reporting periods beginning after December 15, 2018. The Company is currently evaluating the impact of this new accounting standard on the consolidated financial statements. Based on the leases outstanding at March 31, 2017, we do not expect the new standard to have a material impact on our consolidated financial statements. In March 2016 the FASB issued ASU 2016-09 which provides guidance on share-based payment accounting. The new standard includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. The new standard became effective January 1, 2017 and did not have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduces the current expected credit loss (CECL) model and replaces the incurred loss model. The most significant impact for financial institutions will be to the allowance for loan and lease losses (ALLL). The standard allows for various expected credit loss estimation methods and is scalable. This standard is effective for public companies for reporting periods beginning after December 15, 2019. We have attended training sessions and are assessing our data and system needs and evaluating the impact of adopting this new accounting standard. The Company expects to recognize a one-time increase to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective, but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of this standard on the consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization of Purchased Callable Debt Securities. The final standard will shorten the amortization period for premiums on callable debt securities by requiring that premiums be amortized to the first (or earliest) call date instead of as an adjustment to the yield over the contractual life. The standard is effective for public companies for fiscal years beginning after December 15, 2018. Early adoption is permitted. This new accounting standard is not expected to have a material impact on the consolidated financial statements.

Available-For-Sale Securities (

Available-For-Sale Securities (Tables)	3 Months Ended
	Mar. 31, 2017
Available-For-Sale Securities
Summary of the amortized cost and fair value of the available for sale investment securities portfolio	(Dollars in Thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value March 31, 2017 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (22) $ 1,976 Agency mortgage-backed securities: residential 23,007 112 (142) 22,977 State and municipal 20,702 270 (60) 20,912 Trust preferred security 1,885 — (625) 1,260 Corporate bonds — — — — Total Available-for-Sale Securities $ 47,592 $ 382 $ (849) $ 47,125 December 31, 2016 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (41) $ 1,957 Agency mortgage-backed securities: residential 28,148 99 (290) 27,957 State and municipal 21,310 216 (146) 21,380 Trust preferred security 1,884 — (644) 1,240 Corporate bonds 1,000 13 — 1,013 Total Available-for-Sale Securities $ 54,340 $ 328 $ (1,121) $ 53,547
Summary of the amortized cost and fair value of investment securities by contractual maturity	March 31, 2017 (Dollars in Thousands) Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 2,641 $ 2,642 Due from one to five years 11,519 11,575 Due from five to ten years 6,024 6,115 Due after ten years 4,401 3,816 Agency mortgage-backed: residential 23,007 22,977 Total $ 47,592 $ 47,125
Summary of the investment securities with unrealized losses aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position	(Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2017: U.S. government agencies and government sponsored entities $ 1,976 $ (22) $ — $ — $ 1,976 $ (22) Agency mortgage-backed: residential 10,106 (120) 1,782 (22) 11,888 (142) State and municipal 4,083 (58) 374 (2) 4,457 (60) Trust preferred security — — 1,260 (625) 1,260 (625) Total temporarily impaired $ 16,165 $ (200) $ 3,416 $ (649) $ 19,581 $ (849) (Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses December 31, 2016: U.S. government agencies and government sponsored entities $ 1,957 $ (41) $ — $ — $ 1,957 $ (41) Agency mortgage-backed: residential 16,722 (290) — — 16,722 (290) State and municipal 9,399 (142) 293 (4) 9,692 (146) Trust preferred security — — 1,240 (644) 1,240 (644) Total temporarily impaired $ 28,078 $ (473) $ 1,533 $ (648) $ 29,611 $ (1,121)

Loans and Allowance for Loan 18

Loans and Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2017
Loans and Allowance for Loan Losses
Schedule of categories of loans	(Dollars in Thousands) March 31, 2017 December 31, 2016 Commercial $ 59,831 $ 60,388 Commercial real estate: Construction 44,625 38,168 Other 177,157 178,343 Residential real estate 80,133 78,422 Consumer: Auto 1,176 1,195 Other 2,640 2,875 Total Loans 365,562 359,391 Less: Allowance for loan losses (4,906) (4,854) Net loans $ 360,656 $ 354,537
Schedule of activity in the allowance for loan losses	The following table sets forth an analysis of our allowance for loan losses for the three months ending March 31, 2017 and 2016. (Dollars in Thousands) March 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 615 $ 3,628 $ 527 $ 14 $ 70 $ 4,854 Provision (credit) for loan losses 31 12 7 (1) (19) 30 Loans charged-off — — — (1) — (1) Recoveries 19 — 3 1 — 23 Total ending allowance balance $ 665 $ 3,640 $ 537 $ 13 $ 51 $ 4,906 (Dollars in Thousands) March 31, 2016 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 812 $ 3,431 $ 524 $ 28 $ 121 $ 4,916 Provision (credit) for loan losses (174) 129 82 (4) (33) — Loans charged-off — — (8) — — (8) Recoveries 107 25 4 — — 136 Total ending allowance balance $ 745 $ 3,585 $ 602 $ 24 $ 88 $ 5,044
Schedule of balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method	(Dollars in Thousands) March 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 105 $ 239 $ — $ 1 $ — $ 345 Collectively evaluated 560 3,401 537 12 51 4,561 Total ending allowance balance $ 665 $ 3,640 $ 537 $ 13 $ 51 $ 4,906 Loans: Individually evaluated for impairment $ 157 $ 3,327 $ 1,241 $ 21 $ — $ 4,746 Collectively evaluated 59,674 218,455 78,892 3,795 — 360,816 Total ending loans balance $ 59,831 $ 221,782 $ 80,133 $ 3,816 $ — $ 365,562 (Dollars in Thousands) December 31, 2016 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 5 $ 192 $ — $ 1 $ — $ 198 Collectively evaluated 610 3,436 527 13 70 4,656 Total ending allowance balance $ 615 $ 3,628 $ 527 $ 14 $ 70 $ 4,854 Loans: Individually evaluated for impairment $ 60 $ 1,533 $ 837 $ 23 $ — $ 2,453 Collectively evaluated 60,328 214,978 77,585 4,047 — 356,938 Total ending loans balance $ 60,388 $ 216,511 $ 78,422 $ 4,070 $ — $ 359,391
Schedule of impaired loans by class of loans	(Dollars in Thousands) (Dollars in Thousands) March 31, 2017 December 31, 2016 Unpaid Recorded Allowance Loan Unpaid Recorded Allowance With no related allowance recorded: Commercial $ 52 $ 52 $ — $ 53 $ 53 $ — Commercial real estate: Construction — — — — — — Other 2,254 2,254 — 579 579 — Residential real estate 1,239 1,239 — 837 837 — Consumer: Auto — — — — — — Other 4 4 — 5 5 — Subtotal $ 3,549 $ 3,549 $ — $ 1,474 $ 1,474 $ — With an allowance recorded: Commercial $ 105 $ 105 $ 105 $ 7 $ 7 $ 5 Commercial real estate: Construction — — — — — — Other 1,073 1,073 239 954 954 192 Residential real estate 2 2 — — — — Consumer: Auto — — — — — — Other 17 17 1 18 18 1 Subtotal $ 1,197 $ 1,197 $ 345 $ 979 $ 979 $ 198 Total $ 4,746 $ 4,746 $ 345 $ 2,453 $ 2,453 $ 198 Information on impaired loans for the three months ending March 31, 2017 and 2016 is as follows: (Dollars in Thousands) (Dollars in Thousands) March 31, 2017 March 31, 2016 Average Interest Cash Basis Average Interest Cash B asis Commercial $ 159 $ 3 $ 3 $ 141 $ 3 $ 3 Commercial real estate: Construction — — — — — — Other 3,331 15 13 2,047 26 21 Residential real estate 1,244 9 8 857 9 8 Consumer: Auto — — — — — — Other 22 — — 16 — — Total $ 4,756 $ 27 $ 24 $ 3,061 $ 38 $ 32
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans	(Dollars in Thousands) (Dollars in Thousands) March 31, 2017 December 31, 2016 Loans Past Due Nonaccrual Loans Past Due Nonaccrual Commercial $ — $ 100 $ — $ — Commercial real estate: Other — 2,382 — — Residential real estate — 559 — 23 Total $ — $ 3,041 $ — $ 23
Schedule of aging of the recorded investment in past due loans by class of loans	(Dollars in Thousands) 30-59 60-89 Over 90 Total Past Current Total March 31, 2017 Commercial $ 30 $ — $ — $ 30 $ 59,801 $ 59,831 Commercial real estate: Construction — — — — 44,625 44,625 Other 1,099 1,283 — 2,382 174,775 177,157 Residential real estate 155 295 109 559 79,574 80,133 Subtotal $ 1,285 $ 1,578 $ 109 $ 2,972 $ 362,590 $ 365,562 (Dollars in Thousands) 30-59 60-89 Over 90 Total Past Current Total December 31, 2016 Commercial $ — $ — $ — $ — $ 60,388 $ 60,388 Commercial real estate: Construction — — — — 38,168 38,168 Other — — — — 178,343 178,343 Residential real estate 166 29 23 218 78,204 78,422 Consumer: Auto 1 — — 1 1,194 1,195 Other — — — — 2,875 2,875 Subtotal $ 167 $ 29 $ 23 $ 219 $ 359,172 $ 359,391
Schedule of loans by class modified as troubled debt restructurings	(Dollars in Thousands) (Dollars in Thousands) Number Pre- Post- Number Pre- Post-Modification Outstanding Recorded March 31, 2017 March 31, 2016 Troubled Debt Restructurings: Consumer — — — 1 14 14 Total — $ — $ — 1 $ 14 $ 14
Schedule of risk category of loans by class of loans based on the most recent analyses performed	(Dollars in Thousands) Pass Special Substandard Doubtful Total March 31, 2017 Commercial $ 58,399 $ — $ 1,432 $ — $ 59,831 Commercial real estate: Construction 44,625 — — — 44,625 Other 172,253 730 4,174 — 177,157 Residential real estate 79,574 — 559 — 80,133 Consumer: Auto 1,176 — — — 1,176 Other 2,630 — 10 — 2,640 Total $ 358,657 $ 730 $ 6,175 $ — $ 365,562 (Dollars in Thousands) Pass Special Substandard Doubtful Total December 31, 2016 Commercial $ 59,990 $ — $ 398 $ — $ 60,388 Commercial real estate: Construction 38,168 — — — 38,168 Other 174,507 741 3,095 — 178,343 Residential real estate 77,982 — 440 — 78,422 Consumer: Auto 1,195 — — — 1,195 Other 2,867 — 8 — 2,875 Total $ 354,709 $ 741 $ 3,941 $ — $ 359,391

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Measurements
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements at: (Dollars in Thousands) (Dollars in Thousands) March 31, 2017 December 31, 2016 Quoted Significant Significant Quoted Significant Significant Assets: Securities available-for-sale U. S. government agencies and government sponsored entities — $ 1,976 — — $ 1,957 — Agency mortgage-backed securities-residential — 22,977 — — 27,957 — State and municipal — 20,912 — — 21,380 — Trust preferred security — — 1,260 — — 1,240 Corporate bonds — — — — 1,013 — Total investment securities $ — $ 45,865 $ 1,260 $ — $ 52,307 $ 1,240
Schedule of reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	Trust Preferred Security 2017 2016 Balance of recurring Level 3 assets at January 1 $ 1,240 $ 1,340 Total gains or (losses) for the period: Included in other comprehensive income 20 (40) Balance of recurring Level 3 assets at March 31 $ 1,260 $ 1,300
Schedule of carrying amount and estimated fair values of financial instruments	Fair Value Measurements at March 31, 2017 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 6,715 $ 6,715 $ — $ — $ 6,715 Interest-bearing deposits in other financial institutions 22,537 22,537 — — 22,537 Available-for-sale-securities 47,125 — 45,865 1,260 47,125 Loans, net of allowance 360,656 — — 359,077 359,077 Loans held for sale 221 — 224 — 224 Accrued interest receivable 1,386 7 253 1,126 1,386 Federal Home Loan Bank stock 2,025 — — — N/A Financial Liabilities Demand and savings deposits $ 223,324 $ 223,324 $ — $ — $ 223,324 Time deposits 150,072 — 150,209 — 150,209 FHLB advances 41,000 — 40,875 — 40,875 Other borrowings — — — — — Subordinated debentures 5,000 — — 2,495 2,495 Accrued interest payable 235 13 189 34 236 Fair Value Measurements at December 31, 2016 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 8,542 $ 8,542 $ — $ — $ 8,542 Interest-bearing deposits in other financial institutions 11,018 11,018 — — 11,018 Available-for-sale-securities 53,547 — 52,307 1,240 53,547 Loans, net of allowance 354,537 — — 354,300 354,300 Loans held for sale 264 — 266 — 266 Accrued interest receivable 1,622 16 268 1,338 1,622 Federal Home Loan Bank stock 2,025 — — — N/A Financial Liabilities Demand and savings deposits $ 225,942 $ 225,942 $ — $ — $ 225,942 Time deposits 144,497 — 144,558 — 144,558 FHLB advances 35,000 — 34,897 — 34,897 Other borrowings — — — — — Subordinated debentures 5,000 — — 2,495 2,495 Accrued interest payable 220 12 175 33 220

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share
Schedule of reconciliation of basic and diluted earnings per share computations	Three months ended March 31, 2017 Three months ended March 31, 2016 Weighted Weighted Average Per Share Average Per Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 907 $ 905 Dividends on preferred stock during the year (119) (124) Net income available to common shareholders $ 788 2,012,126 $ 0.39 $ 781 1,993,577 $ 0.39 Effect of dilutive securities: Stock options — — — 95 Performance share units — 8,122 — 4,658 Convertible preferred stock 119 527,901 124 543,950 Diluted earnings per share: Net income available to common stockholders and assumed conversions $ 907 2,548,149 $ 0.36 $ 905 2,542,280 $ 0.36

Regulatory Capital Matters (Tab

Regulatory Capital Matters (Tables)	3 Months Ended
	Mar. 31, 2017
Regulatory Capital Matters
Schedule of the Company's and the Bank's actual capital amounts and ratios	(Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions March 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 49,541 12.50 % $ 31,711 8.00 % N/A N/A Citizens First Bank, Inc. 49,050 12.38 % 31,701 8.00 % $ 39,627 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 44,634 11.26 % 23,783 6.00 % N/A N/A Citizens First Bank, Inc. 44,144 11.14 % 23,776 6.00 % 31,701 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 32,619 8.23 % 17,835 4.50 % N/A N/A Citizens First Bank, Inc. 44,144 11.14 % 17,832 4.50 % 25,757 6.50 % Tier I Leverage Capital to average assets Consolidated 44,634 9.96 % 17,925 4.00 % N/A N/A Citizens First Bank, Inc. 43,497 9.85 % 17,921 4.00 % 22,401 5.0 % (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 48,671 12.62 % $ 30,848 8.00 % N/A N/A Citizens First Bank, Inc. 48,316 12.53 % 30,843 8.00 % $ 38,554 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 43,852 11.37 % 23,136 6.00 % N/A N/A Citizens First Bank, Inc. 43,497 11.28 % 23,132 6.00 % 30,843 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 31,585 8.19 % 17,352 4.50 % N/A N/A Citizens First Bank, Inc. 43,497 11.28 % 17,349 4.50 % 25,060 6.50 % Tier I Leverage Capital to average assets Consolidated 43,852 9.97 % 17,600 4.00 % N/A N/A Citizens First Bank, Inc. 43,497 9.89 % 17,600 4.00 % 22,000 5.0 % (1) When fully phased-in on January 1, 2019, Basel III Capital Rules will require banking organizations to maintain: a minimum ratio of common equity Tier 1 to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer”; a minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer; a minimum ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer; and a minimum ratio of Tier 1 capital to adjusted average consolidated assets of at least 4.0%.

Available-For-Sale Securities -

Available-For-Sale Securities - Amortized Cost and Fair Value with Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	$ 47,592	$ 54,340
Gross Unrealized Gains	382	328
Gross Unrealized Losses	(849)	(1,121)
Fair Value	47,125	53,547
U. S. government agencies and government sponsored entities
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	1,998	1,998
Gross Unrealized Losses	(22)	(41)
Fair Value	1,976	1,957
Agency mortgage-backed securities: residential
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	23,007	28,148
Gross Unrealized Gains	112	99
Gross Unrealized Losses	(142)	(290)
Fair Value	22,977	27,957
State and municipal
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	20,702	21,310
Gross Unrealized Gains	270	216
Gross Unrealized Losses	(60)	(146)
Fair Value	20,912	21,380
Trust preferred security
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	1,885	1,884
Gross Unrealized Losses	(625)	(644)
Fair Value	$ 1,260	1,240
Corporate bonds
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost		1,000
Gross Unrealized Gains		13
Fair Value		$ 1,013

Available-For-Sale Securities23

Available-For-Sale Securities - Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Amortized Cost
Due in one year or less	$ 2,641
Due from one to five years	11,519
Due from five to ten years	6,024
Due after ten years	4,401
Agency mortgage-backed: residential	23,007
Total	47,592
Fair Value
Due in one year or less	2,642
Due from one to five years	11,575
Due from five to ten years	6,115
Due after ten years	3,816
Agency mortgage-backed: residential	22,977
Fair Value	$ 47,125	$ 53,547

Available-For-Sale Securities24

Available-For-Sale Securities - Investment Securities with Unrealized Losses by Investment Category (Details) item in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)item	Dec. 31, 2016USD ($)
Investment holdings
Fair Value, Less than 12 Months	$ 16,165	$ 28,078
Unrealized Losses, Less than 12 Months	(200)	(473)
Fair Value, 12 Months or More	3,416	1,533
Unrealized Losses, 12 Months or More	(649)	(648)
Fair Value, Total	19,581	29,611
Unrealized Losses, Total	$ (849)	(1,121)
Number of adverse conditions identified, related to repayment of securities that are not rated | item	0
Impairment charge on available for sale securities	$ 0
Loss of principal anticipated	0
Loss of interest anticipated	$ 0
Other than temporary impairment losses on investments
Number of adverse conditions identified, related to repayment of securities that are not rated | item	0
Impairment charge on available for sale securities	$ 0
Loss of principal anticipated	0
Loss of interest anticipated	0
U. S. government agencies and government sponsored entities
Investment holdings
Fair Value, Less than 12 Months	1,976	1,957
Unrealized Losses, Less than 12 Months	(22)	(41)
Fair Value, Total	1,976	1,957
Unrealized Losses, Total	(22)	(41)
Agency mortgage-backed securities: residential
Investment holdings
Fair Value, Less than 12 Months	10,106	16,722
Unrealized Losses, Less than 12 Months	(120)	(290)
Fair Value, 12 Months or More	1,782
Unrealized Losses, 12 Months or More	(22)
Fair Value, Total	11,888	16,722
Unrealized Losses, Total	(142)	(290)
State and municipal
Investment holdings
Fair Value, Less than 12 Months	4,083	9,399
Unrealized Losses, Less than 12 Months	(58)	(142)
Fair Value, 12 Months or More	374	293
Unrealized Losses, 12 Months or More	(2)	(4)
Fair Value, Total	4,457	9,692
Unrealized Losses, Total	(60)	(146)
Trust preferred security
Investment holdings
Fair Value, 12 Months or More	1,260	1,240
Unrealized Losses, 12 Months or More	(625)	(644)
Fair Value, Total	1,260	1,240
Unrealized Losses, Total	$ (625)	$ (644)

Loans and Allowance for Loan 25

Loans and Allowance for Loan Losses - Loans By Category (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Categories of loans
Total loans	$ 365,562	$ 359,391
Less Allowance for loan losses	(4,906)	(4,854)	$ (5,044)	$ (4,916)
Net Loans	360,656	354,537
Commercial
Categories of loans
Total loans	59,831	60,388
Less Allowance for loan losses	(665)	(615)	(745)	(812)
Commercial Real Estate
Categories of loans
Total loans	221,782	216,511
Less Allowance for loan losses	(3,640)	(3,628)	(3,585)	(3,431)
Residential Real Estate
Categories of loans
Total loans	80,133	78,422
Less Allowance for loan losses	(537)	(527)	(602)	(524)
Consumer
Categories of loans
Total loans	3,816	4,070
Less Allowance for loan losses	(13)	(14)	(24)	(28)
Unallocated
Categories of loans
Less Allowance for loan losses	(51)	(70)	$ (88)	$ (121)
Commercial | Commercial
Categories of loans
Total loans	59,831	60,388
Real estate | Residential Real Estate
Categories of loans
Total loans	80,133	78,422
Construction | Commercial Real Estate
Categories of loans
Total loans	44,625	38,168
Auto | Consumer
Categories of loans
Total loans	1,176	1,195
Other | Commercial Real Estate
Categories of loans
Total loans	177,157	178,343
Other | Consumer
Categories of loans
Total loans	$ 2,640	$ 2,875

Loans and Allowance for Loan 26

Loans and Allowance for Loan Losses - Allowance Roll-forward and Loans by Portfolio Segment (Details)-10Q - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016
Allowance for loan losses:
Beginning Balance	$ 4,854	$ 4,916
Provision (credit) for loan losses	30
Loans charged-off	(1)	(8)
Recoveries	23	136
Total ending allowance balance	4,906	5,044
Accrued interest receivable			$ 1,386	$ 1,622
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			345	198
Collectively evaluated			4,561	4,656
Total ending allowance balance	4,854	4,916	4,906	4,854
Loans:
Individually evaluated for impairment			4,746	2,453
Collectively evaluated			360,816	356,938
Loans and Leases Receivable, Gross, Total			365,562	359,391
Loans Receivable
Allowance for loan losses:
Interest receivable not included in recorded investment			1,100	1,300
Commercial
Allowance for loan losses:
Beginning Balance	615	812
Provision (credit) for loan losses	31	(174)
Recoveries	19	107
Total ending allowance balance	665	745
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			105	5
Collectively evaluated			560	610
Total ending allowance balance	615	812	665	615
Loans:
Individually evaluated for impairment			157	60
Collectively evaluated			59,674	60,328
Loans and Leases Receivable, Gross, Total			59,831	60,388
Commercial Real Estate
Allowance for loan losses:
Beginning Balance	3,628	3,431
Provision (credit) for loan losses	12	129
Recoveries		25
Total ending allowance balance	3,640	3,585
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			239	192
Collectively evaluated			3,401	3,436
Total ending allowance balance	3,628	3,431	3,640	3,628
Loans:
Individually evaluated for impairment			3,327	1,533
Collectively evaluated			218,455	214,978
Loans and Leases Receivable, Gross, Total			221,782	216,511
Residential Real Estate
Allowance for loan losses:
Beginning Balance	527	524
Provision (credit) for loan losses	7	82
Loans charged-off		(8)
Recoveries	3	4
Total ending allowance balance	537	602
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			537	527
Total ending allowance balance	527	524	537	527
Loans:
Individually evaluated for impairment			1,241	837
Collectively evaluated			78,892	77,585
Loans and Leases Receivable, Gross, Total			80,133	78,422
Consumer
Allowance for loan losses:
Beginning Balance	14	28
Provision (credit) for loan losses	(1)	(4)
Loans charged-off	(1)
Recoveries	1
Total ending allowance balance	13	24
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			1	1
Collectively evaluated			12	13
Total ending allowance balance	14	28	13	14
Loans:
Individually evaluated for impairment			21	23
Collectively evaluated			3,795	4,047
Loans and Leases Receivable, Gross, Total			3,816	4,070
Unallocated
Allowance for loan losses:
Beginning Balance	70	121
Provision (credit) for loan losses	(19)	(33)
Total ending allowance balance	51	88
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			51	70
Total ending allowance balance	$ 70	$ 121	51	70
Commercial | Commercial
Loans:
Loans and Leases Receivable, Gross, Total			59,831	60,388
Real estate | Residential Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			80,133	78,422
Construction | Commercial Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			44,625	38,168
Auto | Consumer
Loans:
Loans and Leases Receivable, Gross, Total			1,176	1,195
Other | Commercial Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			177,157	178,343
Other | Consumer
Loans:
Loans and Leases Receivable, Gross, Total			$ 2,640	$ 2,875

Loans and Allowance for Loan 27

Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Unpaid Principal Balance
With no related allowance recorded	$ 3,549		$ 1,474
With an allowance recorded	1,197		979
Total	4,746		2,453
Recorded Investment
With no related allowance recorded	3,549		1,474
With an allowance recorded	1,197		979
Total	4,746		2,453
Allowance for Loan Losses Allocated
Total	345		198
Average Recorded Investment
Total	4,756	$ 3,061
Interest Income Recognized
Total	27	38
Cash Basis Interest Recognized
Total	24	32
Commercial | Commercial
Unpaid Principal Balance
With no related allowance recorded	52		53
With an allowance recorded	105		7
Recorded Investment
With no related allowance recorded	52		53
With an allowance recorded	105		7
Allowance for Loan Losses Allocated
Total	105		5
Average Recorded Investment
Total	159	141
Interest Income Recognized
Total	3	3
Cash Basis Interest Recognized
Total	3	3
Real estate | Residential Real Estate
Unpaid Principal Balance
With no related allowance recorded	1,239		837
With an allowance recorded	2
Recorded Investment
With no related allowance recorded	1,239		837
With an allowance recorded	2
Average Recorded Investment
Total	1,244	857
Interest Income Recognized
Total	9	9
Cash Basis Interest Recognized
Total	8	8
Other | Commercial Real Estate
Unpaid Principal Balance
With no related allowance recorded	2,254		579
With an allowance recorded	1,073		954
Recorded Investment
With no related allowance recorded	2,254		579
With an allowance recorded	1,073		954
Allowance for Loan Losses Allocated
Total	239		192
Average Recorded Investment
Total	3,331	2,047
Interest Income Recognized
Total	15	26
Cash Basis Interest Recognized
Total	13	21
Other | Consumer
Unpaid Principal Balance
With no related allowance recorded	4		5
With an allowance recorded	17
Recorded Investment
With no related allowance recorded	4		5
With an allowance recorded	17		18
Allowance for Loan Losses Allocated
Total	1		$ 1
Average Recorded Investment
Total	$ 22	$ 16

Loans and Allowance for Loan 28

Loans and Allowance for Loan Losses - Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	$ 3,041	$ 23
Residential Real Estate
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	559	$ 23
Commercial | Commercial
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	100
Other | Commercial Real Estate
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	$ 2,382

Loans and Allowance for Loan 29

Loans and Allowance for Loan Losses - Aging of Past Due Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Aging of the recorded investment in past due loans
Total Past Due	$ 2,972	$ 219
Current	362,590	359,172
Loans and Leases Receivable, Gross, Total	365,562	359,391
Commercial
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	59,831	60,388
Commercial Real Estate
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	221,782	216,511
Residential Real Estate
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	80,133	78,422
Consumer
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	3,816	4,070
Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due	30
Current	59,801	60,388
Loans and Leases Receivable, Gross, Total	59,831	60,388
Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	559	218
Current	79,574	78,204
Loans and Leases Receivable, Gross, Total	80,133	78,422
Construction | Commercial Real Estate
Aging of the recorded investment in past due loans
Current	44,625	38,168
Loans and Leases Receivable, Gross, Total	44,625	38,168
Auto | Consumer
Aging of the recorded investment in past due loans
Total Past Due		1
Current		1,194
Loans and Leases Receivable, Gross, Total	1,176	1,195
Other | Commercial Real Estate
Aging of the recorded investment in past due loans
Total Past Due	2,382
Current	174,775	178,343
Loans and Leases Receivable, Gross, Total	177,157	178,343
Other | Consumer
Aging of the recorded investment in past due loans
Current		2,875
Loans and Leases Receivable, Gross, Total	2,640	2,875
30 to 59 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	1,285	167
30 to 59 Days Past Due | Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due	30
30 to 59 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	155	166
30 to 59 Days Past Due | Auto | Consumer
Aging of the recorded investment in past due loans
Total Past Due		1
30 to 59 Days Past Due | Other | Commercial Real Estate
Aging of the recorded investment in past due loans
Total Past Due	1,099
60 to 89 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	1,578	29
60 to 89 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	295	29
60 to 89 Days Past Due | Other | Commercial Real Estate
Aging of the recorded investment in past due loans
Total Past Due	1,283
Over 90 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	109	23
Over 90 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	$ 109	$ 23

Loans and Allowance for Loan 30

Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details)	3 Months Ended
	Mar. 31, 2017USD ($)loanitem	Mar. 31, 2016USD ($)loan	Mar. 31, 2017item	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Troubled Debt Restructurings
Total troubled debt restructurings				$ 2,300,000	$ 2,300,000
Commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings				0
Number of loans reported as troubled debt restructurings	0	0	11
Number of loans accruing that are classified as troubled debt restructurings | item	1
Number of loans modified as troubled debt restructurings that occurred during the year | loan		1
Pre-Modification Outstanding Recorded Investment		$ 14,000
Post-Modification Outstanding Recorded Investment		14,000
Specific allocations reported for the troubled debt restructurings		234,000		194,000
Troubled debt restructurings charged off	$ 0	0
Total recorded investment for loans modified (other than through troubled debt restructuring)		$ 12,000,000		$ 7,700,000
Commercial Real Estate Consumer Portfolio Segment
Troubled Debt Restructurings
Number of loans modified as troubled debt restructurings that occurred during the year | loan		1
Pre-Modification Outstanding Recorded Investment		$ 14,000
Post-Modification Outstanding Recorded Investment		$ 14,000

Loans and Allowance for Loan 31

Loans and Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis	$ 25
Total loans	365,562	$ 359,391
Pass
Credit Quality Indicators
Total loans	358,657	354,709
Special Mention
Credit Quality Indicators
Total loans	730	741
Substandard
Credit Quality Indicators
Total loans	6,175	3,941
Commercial | Commercial
Credit Quality Indicators
Total loans	59,831	60,388
Commercial | Commercial | Pass
Credit Quality Indicators
Total loans	58,399	59,990
Commercial | Commercial | Substandard
Credit Quality Indicators
Total loans	1,432	398
Real estate | Residential Real Estate
Credit Quality Indicators
Total loans	80,133	78,422
Real estate | Residential Real Estate | Pass
Credit Quality Indicators
Total loans	79,574	77,982
Real estate | Residential Real Estate | Substandard
Credit Quality Indicators
Total loans	559	440
Construction | Commercial Real Estate
Credit Quality Indicators
Total loans	44,625	38,168
Construction | Commercial Real Estate | Pass
Credit Quality Indicators
Total loans	44,625	38,168
Auto | Consumer
Credit Quality Indicators
Total loans	1,176	1,195
Auto | Consumer | Pass
Credit Quality Indicators
Total loans	1,176	1,195
Other | Commercial Real Estate
Credit Quality Indicators
Total loans	177,157	178,343
Other | Commercial Real Estate | Pass
Credit Quality Indicators
Total loans	172,253	174,507
Other | Commercial Real Estate | Special Mention
Credit Quality Indicators
Total loans	730	741
Other | Commercial Real Estate | Substandard
Credit Quality Indicators
Total loans	4,174	3,095
Other | Consumer
Credit Quality Indicators
Total loans	2,640	2,875
Other | Consumer | Pass
Credit Quality Indicators
Total loans	2,630	2,867
Other | Consumer | Substandard
Credit Quality Indicators
Total loans	$ 10	$ 8

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured on a Recurring and Nonrecurring Basis (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Assets:
Securities available-for-sale	$ 47,125,000		$ 53,547,000
Fair value, assets measured on recurring basis, unobservable input reconciliation
Impaired loans	4,746,000		2,453,000
Other real estate owned	0		0
Principal balance of impaired loans	227,000		0
Valuation allowance	149,000		0
Increase in the provision for loan losses	149,000		0
Write-downs of other real estate owned	0	$ 0
U. S. government agencies and government sponsored entities
Assets:
Securities available-for-sale	1,976,000		1,957,000
Agency mortgage-backed securities: residential
Assets:
Securities available-for-sale	22,977,000		27,957,000
State and municipal
Assets:
Securities available-for-sale	20,912,000		21,380,000
Trust preferred security
Assets:
Securities available-for-sale	1,260,000		1,240,000
Corporate bonds
Assets:
Securities available-for-sale			1,013,000
Level 2
Assets:
Securities available-for-sale	45,865,000		52,307,000
Level 3
Assets:
Securities available-for-sale	1,260,000		1,240,000
Recurring basis | Level 2
Assets:
Securities available-for-sale	45,865,000		52,307,000
Recurring basis | Level 2 | U. S. government agencies and government sponsored entities
Assets:
Securities available-for-sale	1,976,000		1,957,000
Recurring basis | Level 2 | Agency mortgage-backed securities: residential
Assets:
Securities available-for-sale	22,977,000		27,957,000
Recurring basis | Level 2 | State and municipal
Assets:
Securities available-for-sale	20,912,000		21,380,000
Recurring basis | Level 2 | Corporate bonds
Assets:
Securities available-for-sale			1,013,000
Recurring basis | Level 3
Assets:
Securities available-for-sale	1,260,000		1,240,000
Recurring basis | Level 3 | Trust preferred security
Assets:
Securities available-for-sale	1,260,000		1,240,000
Fair value, assets measured on recurring basis, unobservable input reconciliation
Recurring Level 3 assets, beginning of period balance	1,240,000	1,340,000	1,340,000
Losses for the period included in other comprehensive income	20,000	(40,000)
Recurring Level 3 assets, end of period balance	1,260,000	$ 1,300,000	$ 1,240,000
Commercial Real Estate | Level 3
Fair value, assets measured on recurring basis, unobservable input reconciliation
Impaired loans	$ 78,000

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative and Qualitative Information of Level 3 Fair Value Measurements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Valuation techniques
Impaired loans	$ 4,746,000	$ 2,453,000
Other real estate owned	$ 0	0
Commercial Real Estate | Sales Comparison | Weighted Average
Valuation techniques
Adjustment (as a percent)	20.00%
Level 3 | Commercial Real Estate
Valuation techniques
Impaired loans	$ 78,000
Non-recurring basis
Valuation techniques
Financial assets measured at fair value		$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amount and Estimated Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financial Assets
Interest-bearing deposits in other financial institutions	$ 22,537	$ 11,018
Available-for-sale securities	47,125	53,547
Loans, net of allowance	360,656	354,537
Accrued interest receivable	1,386	1,622
Federal Home Loan Bank stock	2,025	2,025
Financial Liabilities
Subordinated debentures	5,000	5,000
Accrued interest payable	235	220
Level 1
Financial Assets
Cash and cash equivalents	6,715	8,542
Interest-bearing deposits in other financial institutions	22,537	11,018
Accrued interest receivable	7	16
Financial Liabilities
Demand and savings deposits	223,324	225,942
Accrued interest payable	13	12
Level 2
Financial Assets
Available-for-sale securities	45,865	52,307
Loans held for sale	224	266
Accrued interest receivable	253	268
Financial Liabilities
Time deposits	150,209	144,558
FHLB advances	40,875	34,897
Accrued interest payable	189	175
Level 3
Financial Assets
Available-for-sale securities	1,260	1,240
Loans, net of allowance	359,077	354,300
Accrued interest receivable	1,126	1,338
Financial Liabilities
Subordinated debentures	2,495	2,495
Accrued interest payable	34	33
Carrying Amount
Financial Assets
Cash and cash equivalents	6,715	8,542
Interest-bearing deposits in other financial institutions	22,537	11,018
Available-for-sale securities	47,125	53,547
Loans, net of allowance	360,656	354,537
Loans held for sale	221	264
Accrued interest receivable	1,386	1,622
Federal Home Loan Bank stock	2,025	2,025
Financial Liabilities
Demand and savings deposits	223,324	225,942
Time deposits	150,072	144,497
FHLB advances	41,000	35,000
Subordinated debentures	5,000	5,000
Accrued interest payable	235	220
Total
Financial Assets
Cash and cash equivalents	6,715	8,542
Interest-bearing deposits in other financial institutions	22,537	11,018
Available-for-sale securities	47,125	53,547
Loans, net of allowance	359,077	354,300
Loans held for sale	224	266
Accrued interest receivable	1,386	1,622
Financial Liabilities
Demand and savings deposits	223,324	225,942
Time deposits	150,209	144,558
FHLB advances	40,875	34,897
Subordinated debentures	2,495	2,495
Accrued interest payable	$ 236	$ 220

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basic earnings per share:
Net income	$ 907	$ 905
Less: Dividends on preferred stock during the quarter	(119)	(124)
Net income available for common stockholders	$ 788	$ 781
Weighted Average Shares, basic
Weighted Average Shares, basic	2,012,126	1,993,577
Weighted Average Shares, diluted
Net income available to common stockholders and assumed conversions	$ 907	$ 905
Weighted Average Shares, diluted	2,548,149	2,542,280
Per Share Amount
Basic earnings per common share (in dollars per share)	$ 0.39	$ 0.39
Diluted earnings per common share (in dollars per share)	$ 0.36	$ 0.36
Diluted earnings per share
Net income available to common stockholders and assumed conversions	$ 907	$ 905
Convertible preferred stock
Effect of dilutive securities
Income	$ 119	$ 124
Warrants (in shares)	527,901	543,950
Stock options
Effect of dilutive securities
Stock options (in shares)		95
Performance share units
Effect of dilutive securities
Performance share units (in shares)	8,122	4,658

Regulatory Capital Matters (Det

Regulatory Capital Matters (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)item	Dec. 31, 2016USD ($)
Regulatory capital matters
Number of classifications for prompt corrective action regulations | item	5
Capital conservation buffer (as a percent)	1.25%
Tier one risk based minimum required capital conservation	2.50%
Total Capital (to Risk-Weighted Assets)
Actual, Amount	$ 49,541	$ 48,671
For Capital Adequacy Purposes, Amount	$ 31,711	$ 30,848
Total Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	12.50%	12.62%
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%	8.00%
Tier I Capital (to Risk-Weighted Assets)
Actual, Amount	$ 44,634	$ 43,852
For Capital Adequacy Purposes, Amount	$ 23,783	$ 23,136
Tier I Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.26%	11.37%
For Capital Adequacy Purposes, Ratio (as a percent)	6.00%	6.00%
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual Amount	$ 32,619	$ 31,585
For Capital Adequacy Purposes, Amount	$ 17,835	$ 17,352
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	8.23%	8.19%
For Capital Adequacy Purposes, Ratio (as a percent)	4.50%	4.50%
Tier I Leverage Capital to Average Assets
Actual, Amount	$ 44,634	$ 43,852
For Capital Adequacy Purposes, Amount	$ 17,925	$ 17,600
Tier I Capital (to Average Assets)
Actual, Ratio (as a percent)	9.96%	9.97%
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%	4.00%
Citizens First Bank, Inc.
Total Capital (to Risk-Weighted Assets)
Actual, Amount	$ 49,050	$ 48,316
For Capital Adequacy Purposes, Amount	31,701	30,843
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 39,627	$ 38,554
Total Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	12.38%	12.53%
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%	8.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	10.00%	10.00%
Tier I Capital (to Risk-Weighted Assets)
Actual, Amount	$ 44,144	$ 43,497
For Capital Adequacy Purposes, Amount	23,776	23,132
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 31,701	$ 30,843
Tier I Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.14%	11.28%
For Capital Adequacy Purposes, Ratio (as a percent)	6.00%	6.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	8.00%	8.00%
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual Amount	$ 44,144	$ 43,497
For Capital Adequacy Purposes, Amount	17,832	17,349
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 25,757	$ 25,060
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.14%	11.28%
For Capital Adequacy Purposes, Ratio (as a percent)	4.50%	4.50%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	6.50%	6.50%
Tier I Leverage Capital to Average Assets
Actual, Amount	$ 43,497	$ 43,497
For Capital Adequacy Purposes, Amount	17,921	17,600
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 22,401	$ 22,000
Tier I Capital (to Average Assets)
Actual, Ratio (as a percent)	9.85%	9.89%
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%	4.00%
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio (as a percent)	5.00%	5.00%

Preferred Stock (Details)

Preferred Stock (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2004
Preferred stock
Stock issued (in shares)	229	237
Cumulative dividends (as a percent)	6.50%	6.50%
6.5% Cumulative convertible preferred stock
Preferred stock
Stock issued (in shares)			250
Stated value (in dollars per share)			$ 31,992
Purchase price of stock issued			$ 7,998,000
Sales price of stock issued			$ 31,992
Cumulative dividends (as a percent)			6.50%
Conversion price (in dollars per share)	$ 14.06		$ 15.50
Period after the date of issuance preferred stock can be converted			3 years
Convertible preferred stock converted to common shares	21
Common Stock
Preferred stock
Preferred shares converted to common shares	47,775