Citizens First (CZFC) 10-Q 10 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 10, 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	Jun. 30, 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		2,526,377
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Assets
Cash and due from financial institutions	$ 6,769	$ 8,542
Interest-bearing deposits in other financial institutions	24,351	11,018
Available-for-sale securities	48,560	53,547
Loans held for sale		264
Loans, net of allowance for loan losses of $4,898 and $4,854 at June 30, 2017 and December 31, 2016, respectively	355,572	354,537
Premises and equipment, net	9,212	9,390
Bank owned life insurance (BOLI)	8,439	8,351
Federal Home Loan Bank (FHLB) stock, at cost	2,053	2,025
Accrued interest receivable	1,435	1,622
Deferred income taxes	1,210	1,464
Goodwill and other intangible assets	4,256	4,291
Other assets	499	371
Total Assets	462,356	455,422
Deposits.
Noninterest bearing	50,404	52,322
Savings, NOW and money market	175,400	173,620
Time	145,061	144,497
Total deposits	370,865	370,439
FHLB advances and other borrowings	40,000	35,000
Subordinated debentures	5,000	5,000
Accrued interest payable	229	220
Other liabilities	1,923	2,399
Total Liabilities	418,017	413,058
Stockholders' Equity
6.5% cumulative preferred stock, no par value, authorized 250 shares, aggregate liquidation preference of $7,998; issued and outstanding 0 and 237 shares at June 30, 2017 and December 31, 2016, respectively		7,261
Common stock, no par value, authorized 5,000,000 shares; issued and outstanding 2,526,377 and 2,000,852 shares at June 30, 2017 and December 31, 2016, respectively	33,050	25,920
Retained earnings	11,321	9,706
Accumulated other comprehensive income (loss)	(32)	(523)
Total stockholders' equity	44,339	42,364
Total liabilities and stockholders' equity	$ 462,356	$ 455,422

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Consolidated Balance Sheets
Loans, allowance for loan losses (in dollars)	$ 4,898	$ 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	0	237
Preferred stock, outstanding shares	0	237
Common stock no par value	$ 0	$ 0
Common stock, authorized shares	5,000,000	5,000,000
Common stock, issued shares	2,526,377	2,000,852
Common stock, outstanding shares	2,526,377	2,000,852

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest and dividend income
Loans	$ 4,257	$ 4,162	$ 8,381	$ 8,265
Taxable securities	142	177	291	354
Non-taxable securities	127	159	264	318
Federal funds sold and other	67	38	114	75
Total interest and dividend income	4,593	4,536	9,050	9,012
Interest expense
Deposits	595	514	1,142	1,042
FHLB advances and other borrowings	96	81	193	138
Subordinated debentures	35	29	68	57
Total interest expense	726	624	1,403	1,237
Net interest income	3,867	3,912	7,647	7,775
Provision (credit) for loan losses		(85)	30	(85)
Net interest income after provision (credit) for loan losses	3,867	3,997	7,617	7,860
Non-interest income
Service charges on deposit accounts	327	339	605	664
Other service charges and fees	301	272	565	520
Gain on sale of mortgage loans	88	91	156	168
Non-deposit brokerage fees	91	75	178	147
Lease income	80	49	132	94
BOLI income	45	44	88	88
Gain on sale of available-for-sale securities		55	23	106
Total non-interest income	932	925	1,747	1,787
Non-interest expenses
Salaries and employee benefits	1,655	1,676	3,389	3,460
Net occupancy expense	446	492	907	975
Advertising and public relations	77	98	148	159
Professional fees	171	137	301	317
Data processing services	251	263	504	519
Franchise shares and deposit tax	132	132	264	264
FDIC insurance	49	59	98	118
Other real estate owned expenses		23		24
Other	432	510	893	1,008
Total non-interest expenses	3,213	3,390	6,504	6,844
Income before income taxes	1,586	1,532	2,860	2,803
Income taxes	478	458	845	824
Net income	1,108	1,074	2,015	1,979
Dividends and accretion on preferred stock	119	123	238	247
Net income available for common stockholders	$ 989	$ 951	$ 1,777	$ 1,732
Basic earnings per common share (in dollars per share)	$ 0.47	$ 0.48	$ 0.86	$ 0.87
Diluted earnings per common share (in dollars per share)	$ 0.43	$ 0.42	$ 0.79	$ 0.78

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Comprehensive income, net of tax
Net income	$ 1,108	$ 1,074	$ 2,015	$ 1,979
Other comprehensive income
Reclassification adjustment for gains included in net income, net of taxes		(36)	(15)	(70)
Change in unrealized gain on available for sale securities, net of taxes	276	207	506	363
Total other comprehensive income	276	171	491	293
Comprehensive income	$ 1,384	$ 1,245	$ 2,506	$ 2,272

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			1,979		1,979
Conversion of cumulative preferred	(398)	398
Exercise of director stock options		16			16
Stock based compensation		42			42
Change in accumulated other comprehensive income (loss)				293	293
Dividend declared and paid on common stock			(160)		(160)
Dividend declared and paid on preferred stock			(247)		(247)
Balance at Jun. 30, 2016	7,261	25,862	7,876	448	41,447
Balance at Dec. 31, 2016	7,261	25,920	9,706	(523)	42,364
Increase (Decrease) in Stockholders' Equity
Net income			2,015		2,015
Conversion of cumulative preferred	(7,077)	7,077
Redemption of cumulative preferred	$ (184)	(8)			(192)
Stock based compensation		61			61
Change in accumulated other comprehensive income (loss)				491	491
Dividend declared and paid on common stock			(162)		(162)
Dividend declared and paid on preferred stock			(238)		(238)
Balance at Jun. 30, 2017		$ 33,050	$ 11,321	$ (32)	$ 44,339

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Unaudited Consolidated Statements of Changes in Stockholders' Equity
Dividends declared and paid on common stock (in dollars per share)	$ 0.08	$ 0.08

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating Activities
Net income	$ 2,015	$ 1,979
Items not requiring (providing) cash:
Depreciation	234	274
Provision (credit) for loan losses	30	(85)
Amortization of premiums and discounts on securities	108	158
Amortization of core deposit intangible	35	35
Stock based compensation	61	42
BOLI Income	(88)	(88)
Proceeds from sale of mortgage loans held for sale	8,093	7,408
Origination of mortgage loans held for sale	(7,673)	(7,359)
Gains on sales of available-for-sale securities	(23)	(106)
Gains on sales of mortgage loans held for sale	(156)	(168)
Loss (gain) on sale premises and equipment	(6)	4
Loss on branch disposal		27
Changes in:
Accrued interest receivable	187	144
Other assets	(128)	(48)
Accrued interest payable and other liabilities	(467)	106
Net cash provided by operating activities	2,222	2,323
Investing Activities
Loan originations and payments, net	(1,065)	(16,179)
Increase in interest-bearing deposits in other financial institutions	(13,333)
Purchase of premises and equipment	(57)	(48)
Proceeds from maturities of available-for-sale securities	3,836	5,373
Purchase of available-for-sale securities	(3,059)	(7,160)
Proceeds from sales of available-for-sale securities	4,870	3,839
Proceeds from sales of other real owned		100
Proceeds from sales of premises and equipment	7
Purchase of FHLB stock	(28)
Proceeds from branch disposal		197
Net cash used in investing activities	(8,829)	(13,878)
Financing Activities
Net change in demand deposits, money market, NOW and savings accounts	(138)	(3,283)
Net change in time deposits	564	(13,672)
Proceeds from FHLB advances	22,000	27,000
Repayment of FHLB advances	(17,000)	(5,000)
Repayment of other borrowings		(1,000)
Redemption of preferred stock	(192)
Exercise of stock options		16
Dividends paid on common stock	(162)	(160)
Dividends paid on preferred stock	(238)	(247)
Net cash provided by financing activities	4,834	3,654
Decrease in Cash and Cash Equivalents	(1,773)	(7,901)
Cash and Cash Equivalents, Beginning of Year	8,542	15,255
Cash and Cash Equivalents, End of Year	6,769	7,354
Supplemental Cash Flows Information
Interest paid	1,394	1,227
Income taxes paid	815	650
Conversion of cumulative preferred stock	$ 7,069	398
Loans transferred to other real estate owned		$ 66

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 2016 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. The FASB subsequently issued additional ASUs to defer the effective date and provide additional clarifications. These amendments are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Interest income is outside the scope of this new standard and will not be impacted by its adoption. The Company is currently evaluating the impact of the new standard on categories of non-interest income, particularly service charges on deposit accounts. 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 does not expect that adopting the provisions of ASU 2016-01 will have a material impact on our 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 June 30, 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	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 2017 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (20) $ 1,978 Agency mortgage-backed securities: residential 24,280 155 (57) 24,378 State and municipal 20,443 390 (9) 20,824 Trust preferred security 1,887 — (507) 1,380 Total Available-for-Sale Securities $ 48,608 $ 545 $ (593) $ 48,560 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 June 30, 2017 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. June 30, 2017 (Dollars in Thousands) Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 2,264 $ 2,265 Due from one to five years 11,215 11,318 Due from five to ten years 6,214 6,422 Due after ten years 4,635 4,177 Agency mortgage-backed: residential 24,280 24,378 Total $ 48,608 $ 48,560 The following table summarizes the investment securities with unrealized losses by portfolio segment at June 30, 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 June 30, 2017: U.S. government agencies and government sponsored entities $ 1,978 $ (20) $ — $ — $ 1,978 $ (20) Agency mortgage-backed: residential 8,095 (57) — — 8,095 (57) State and municipal 1,046 (8) 294 (1) 1,340 (9) Trust preferred security — — 1,380 (507) 1,380 (507) Total temporarily impaired $ 11,119 $ (85) $ 1,674 $ (508) $ 12,793 $ (593) (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. 99.8% 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	6 Months Ended
	Jun. 30, 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) June 30, 2017 December 31, 2016 Commercial $ 60,075 $ 60,388 Commercial real estate: Construction 50,775 38,168 Other 166,819 178,343 Residential real estate 78,808 78,422 Consumer: Auto 1,121 1,195 Other 2,872 2,875 Total Loans 360,470 359,391 Less: Allowance for loan losses (4,898) (4,854) Net loans $ 355,572 $ 354,537 The following table sets forth an analysis of our allowance for loan losses for the three months ended June 30, 2017 and 2016. (Dollars in Thousands) June 30, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 665 $ 3,640 $ 537 $ 13 $ 51 $ 4,906 Provision (credit) for loan losses 27 (18) (23) (2) 16 — Loans charged-off (17) — — (1) — (18) Recoveries 6 — 3 1 — 10 Total ending allowance balance $ 681 $ 3,622 $ 517 $ 11 $ 67 $ 4,898 (Dollars in Thousands) June 30, 2016 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 745 $ 3,585 $ 602 $ 24 $ 88 $ 5,044 Provision (credit) for loan losses (301) 257 4 (5) (40) (85) Loans charged-off (5) (52) (15) — — (72) Recoveries 25 25 9 3 — 62 Total ending allowance balance $ 464 $ 3,815 $ 600 $ 22 $ 48 $ 4,949 The following table sets forth an analysis of our allowance for loan losses for the six months ended June 30, 2017 and 2016. (Dollars in Thousands) June 30, 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 57 (6) (16) (2) (3) 30 Loans charged-off (17) — — (3) — (20) Recoveries 25 — 6 2 — 33 Total ending allowance balance $ 681 $ 3,622 $ 517 $ 11 $ 67 $ 4,898 (Dollars in Thousands) June 30, 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 (475) 386 86 (10) (73) (85) Loans charged-off (5) (52) (23) — — (80) Recoveries 132 50 13 4 — 199 Total ending allowance balance $ 464 $ 3,815 $ 600 $ 22 $ 48 $ 4,949 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 June 30, 2017 and December 31, 2016, which includes net deferred loan fees. As of June 30, 2017 and December 31, 2016, accrued interest receivable of $1.2 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) June 30, 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 $ 100 $ 239 $ — $ 1 $ — $ 340 Collectively evaluated 581 3,383 517 10 67 4,558 Total ending allowance balance $ 681 $ 3,622 $ 517 $ 11 $ 67 $ 4,898 Loans: Individually evaluated for impairment $ 105 $ 3,320 $ 1,092 $ 20 $ — $ 4,537 Collectively evaluated 59,970 214,274 77,716 3,973 — 355,933 Total ending loans balance $ 60,075 $ 217,594 $ 78,808 $ 3,993 $ — $ 360,470 (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 June 30, 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) June 30, 2017 December 31, 2016 Unpaid Recorded Allowance Loan Unpaid Recorded Allowance With no related allowance recorded: Commercial $ — $ — $ — $ 53 $ 53 $ — Commercial real estate: Construction — — — — — — Other 2,254 2,254 — 579 579 — Residential real estate 1,091 1,091 — 837 837 — Consumer: Auto — — — — — — Other 4 4 — 5 5 — Subtotal $ 3,349 $ 3,349 $ — $ 1,474 $ 1,474 $ — With an allowance recorded: Commercial $ 105 $ 105 $ 100 $ 7 $ 7 $ 5 Commercial real estate: Construction — — — — — — Other 1,066 1,066 239 954 954 192 Residential real estate 1 1 — — — — Consumer: Auto — — — — — — Other 16 16 1 18 18 1 Subtotal $ 1,188 $ 1,188 $ 340 $ 979 $ 979 $ 198 Total $ 4,537 $ 4,537 $ 340 $ 2,453 $ 2,453 $ 198 Information on impaired loans for the three months ended June 30, 2017 and 2016 is as follows: (Dollars in Thousands) (Dollars in Thousands) June 30, 2017 June 30, 2016 Average Interest Cash Basis Average Interest Cash B asis Commercial $ 105 $ — $ — $ 135 $ 3 $ 3 Commercial real estate: Construction — — — — — — Other 3,324 42 12 1,584 21 21 Residential real estate 1,094 13 8 747 8 8 Consumer: Auto — — — — — — Other 21 — — 25 — — Total $ 4,544 $ 55 $ 20 $ 2,491 $ 32 $ 32 Information on impaired loans for the six months ended June 30, 2017 and 2016 is as follows: (Dollars in Thousands) (Dollars in Thousands) June 30, 2017 June 30, 2016 Average Recorded Investment Interest Income Recognized Cash Basis Average Interest Cash Basis Commercial $ 106 $ 2 $ 2 $ 139 $ 6 $ 6 Commercial real estate: Construction — — — — — — Other 3,328 56 24 1,604 41 41 Residential real estate 1,097 21 15 749 16 15 Consumer: Auto — — — — — — Other 21 1 1 18 1 1 Total $ 4,552 $ 80 $ 42 $ 2,510 $ 64 $ 63 The recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of June 30, 2017 and December 31, 2016 are summarized below: (Dollars in Thousands) (Dollars in Thousands) June 30, 2017 December 31, 2016 Loans Past Due Nonaccrual Loans Past Due Nonaccrual Commercial $ — $ 100 $ — $ — Commercial real estate: Other — 2,382 — — Residential real estate — 415 — 23 Total $ — $ 2,897 $ — $ 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 June 30, 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 June 30, 2017 Commercial $ 58 $ 100 $ — $ 158 $ 59,917 $ 60,075 Commercial real estate: Construction — — — — 50,775 50,775 Other 114 — 2,382 2,496 164,323 166,819 Residential real estate 70 55 415 540 78,268 78,808 Consumer: Auto — — — — 1,121 1,121 Other 16 — — 16 2,856 2,872 Subtotal $ 258 $ 155 $ 2,797 $ 3,210 $ 357,260 $ 360,470 (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 $2.2 million and $2.3 million as of June 30, 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 10 troubled debt restructurings reported at quarter end, nine loans totaling $1.6 million were on accrual status and one $579,000 loan was on non-accrual status. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2017 and 2016. (Dollars in Thousands) (Dollars in Thousands) Number Pre- Post- Number Pre- Post- June 30, 2017 June 30, 2016 Troubled Debt Restructurings: Commercial 1 $ 5 $ 5 — $ — $ — Consumer — — — 1 7 7 Total 1 $ 5 $ 5 1 $ 7 $ 7 The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2017 and 2016. (Dollars in Thousands) (Dollars in Thousands) Number Pre- Post- Number Pre- Post-Modification Outstanding Recorded June 30, 2017 June 30, 2016 Troubled Debt Restructurings: Commercial 1 $ 5 $ 5 — $ — $ — Consumer — — — 2 21 21 Total 1 $ 5 $ 5 2 $ 21 $ 21 Specific allocations of $191,000 and $231,000 were reported for troubled debt restructurings as of June 30, 2017 and June 30, 2016. No payment defaults or charge-offs were reported for troubled debt restructuring during the prior 12 months ended June 30, 2017, and one troubled debt restructuring totaling $3,000 was charged off in the prior 12 months ended June 30, 2016. The terms of certain other loans were modified during the six months ended June 30, 2017 and 2016 that did not meet the definition of a troubled debt restructuring. These loans modified during the six months ended June 30, 2017 have a total recorded investment of $17.2 million as of June 30, 2017. These loans modified during the six months ended June 30, 2016 had a total recorded investment of $13.1 million as of June 30, 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 June 30, 2017 Commercial $ 58,738 $ — $ 1,337 $ — $ 60,075 Commercial real estate: Construction 50,775 — — — 50,775 Other 161,707 719 4,393 — 166,819 Residential real estate 78,338 — 470 — 78,808 Consumer: Auto 1,121 — — — 1,121 Other 2,861 — 11 — 2,872 Total $ 353,540 $ 719 $ 6,211 $ — $ 360,470 (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	6 Months Ended
	Jun. 30, 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) June 30, 2017 December 31, 2016 Quoted Significant Significant Quoted Significant Significant Assets: Securities available-for-sale U. S. government agencies and government sponsored entities — $ 1,978 — — $ 1,957 — Agency mortgage-backed securities-residential — 24,378 — — 27,957 — State and municipal — 20,824 — — 21,380 — Trust preferred security — — 1,380 — — 1,240 Corporate bonds — — — — 1,013 — Total investment securities $ — $ 47,180 $ 1,380 $ — $ 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 six months ended June 30: 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 140 (80) Balance of recurring Level 3 assets at June 30 $ 1,380 $ 1,260 At June 30, 2017, there were a total of $78,000 impaired commercial real estate loans measured at fair value using significant unobservable inputs (level 3). These loans had adjustments using sales comparison valuation techniques for limited used 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 June 30, 2017 with a valuation allowance of $149,000, resulting in an additional provision for loan losses of $149,000 in the six months ending June 30, 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 June 30, 2017 or December 31, 2016. No writedowns of other real estate owned were taken in the six months ended June 30, 2017 or June 30, 2016. The carrying amount and estimated fair values of financial instruments at June 30, 2017 and December 31, 2016 were as follows: Fair Value Measurements at June 30, 2017 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 6,769 $ 6,769 $ — $ — $ 6,769 Interest-bearing deposits in other financial institutions 24,351 24,351 — — 24,351 Available-for-sale-securities 48,560 — 47,180 1,380 48,560 Loans, net of allowance 355,572 — — 355,294 355,294 Loans held for sale — — — — — Accrued interest receivable 1,435 16 241 1,178 1,435 Federal Home Loan Bank stock 2,053 — — — N/A Financial Liabilities Demand and savings deposits $ 225,804 $ 225,804 $ — $ — $ 225,804 Time deposits 145,061 — 145,239 — 145,239 FHLB advances 40,000 — 39,914 — 39,914 Subordinated debentures 5,000 — — 2,495 2,495 Accrued interest payable 229 14 178 37 229 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 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 Level 1 or Level 2 classification consistent with the asset/liability they are associated with.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2017 and 2016. 2017 2016 Quarter ended June 30, 2017 Quarter ended June 30, 2016 Weighted Per Weighted Per Average Share Average Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 1,108 $ 1,074 Dividends on preferred stock during the year (119) (123) Net income available to common shareholders $ 989 2,104,002 $ 0.47 $ 951 1,998,979 $ 0.48 Effect of dilutive securities Stock options — — — 69 Performance share units — 10,246 — 1,725 Convertible preferred stock 119 435,875 123 539,175 Diluted earnings per share Net income available to common stockholders and assumed conversions $ 1,108 2,550,123 $ 0.43 $ 1,074 2,539,948 $ 0.42 Six months ended June 30, 2017 Six months ended June 30, 2016 Weighted Weighted Average Per Share Average Per Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 2,015 $ 1,979 Dividends on preferred stock during the year (238) (247) Net income available to common shareholders $ 1,777 2,058,318 $ 0.86 $ 1,732 1,996,278 $ 0.87 Effect of dilutive securities: Stock options — — — 59 Performance share units — 10,021 — 2,937 Convertible preferred stock 238 481,634 247 541,563 Diluted earnings per share: Net income available to common stockholders and assumed conversions $ 2,015 2,549,973 $ 0.79 $ 1,979 2,540,837 $ 0.78

Regulatory Capital Matters

Regulatory Capital Matters	6 Months Ended
	Jun. 30, 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 June 30, 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. For 2016, 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 June 30, 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 June 30, 2017 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 50,225 12.68 % $ 31,711 8.00 % N/A N/A Citizens First Bank, Inc. 49,973 12.62 % 31,688 8.00 % $ 39,610 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 45,327 11.44 % 23,783 6.00 % N/A N/A Citizens First Bank, Inc. 45,075 11.38 % 23,766 6.00 % 31,688 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 40,327 10.18 % 17,835 4.50 % N/A N/A Citizens First Bank, Inc. 45,075 11.38 % 17,825 4.50 % 25,747 6.50 % Tier I Leverage Capital to average assets Consolidated 45,327 10.06 % 18,015 4.00 % N/A N/A Citizens First Bank, Inc. 45,075 9.94 % 18,133 4.00 % 22,666 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 % (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	6 Months Ended
	Jun. 30, 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. On May 15, 2017, the Board of Directors of the Company authorized the redemption of all 229 outstanding shares of the Company’s Cumulative Convertible Preferred Stock (“Preferred Shares”) as of June 30, 2017 (the “Redemption Date”) at the redemption price of $31,992 per share (the Stated Value of the Preferred Shares), plus accrued and unpaid dividends. The Preferred Shares were convertible at the option of the holder, until the day prior to the Redemption Date, into a number of shares of common stock determined by dividing the Stated Value of the Preferred Shares ($31,992) by $14.06, the conversion price. From May 15, 2017 to the Redemption Date, the Company issued an aggregate of 507,325 shares of common stock upon conversion of 223 Preferred Shares. Six preferred shares with an aggregate redemption price of $191,952 were redeemed. As a result of the conversion of Preferred Shares, the outstanding shares of the Company’s common stock have increased from 2,019,052 to 2,526,377 as of June 30, 2017.

Nature of Operations and Summ17

Nature of Operations and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 2016 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. The FASB subsequently issued additional ASUs to defer the effective date and provide additional clarifications. These amendments are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Interest income is outside the scope of this new standard and will not be impacted by its adoption. The Company is currently evaluating the impact of the new standard on categories of non-interest income, particularly service charges on deposit accounts. 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 does not expect that adopting the provisions of ASU 2016-01 will have a material impact on our 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 June 30, 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)	6 Months Ended
	Jun. 30, 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 June 30, 2017 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (20) $ 1,978 Agency mortgage-backed securities: residential 24,280 155 (57) 24,378 State and municipal 20,443 390 (9) 20,824 Trust preferred security 1,887 — (507) 1,380 Total Available-for-Sale Securities $ 48,608 $ 545 $ (593) $ 48,560 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	June 30, 2017 (Dollars in Thousands) Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 2,264 $ 2,265 Due from one to five years 11,215 11,318 Due from five to ten years 6,214 6,422 Due after ten years 4,635 4,177 Agency mortgage-backed: residential 24,280 24,378 Total $ 48,608 $ 48,560
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 June 30, 2017: U.S. government agencies and government sponsored entities $ 1,978 $ (20) $ — $ — $ 1,978 $ (20) Agency mortgage-backed: residential 8,095 (57) — — 8,095 (57) State and municipal 1,046 (8) 294 (1) 1,340 (9) Trust preferred security — — 1,380 (507) 1,380 (507) Total temporarily impaired $ 11,119 $ (85) $ 1,674 $ (508) $ 12,793 $ (593) (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 19

Loans and Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2017
Loans and Allowance for Loan Losses
Schedule of categories of loans	(Dollars in Thousands) June 30, 2017 December 31, 2016 Commercial $ 60,075 $ 60,388 Commercial real estate: Construction 50,775 38,168 Other 166,819 178,343 Residential real estate 78,808 78,422 Consumer: Auto 1,121 1,195 Other 2,872 2,875 Total Loans 360,470 359,391 Less: Allowance for loan losses (4,898) (4,854) Net loans $ 355,572 $ 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 ended June 30, 2017 and 2016. (Dollars in Thousands) June 30, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 665 $ 3,640 $ 537 $ 13 $ 51 $ 4,906 Provision (credit) for loan losses 27 (18) (23) (2) 16 — Loans charged-off (17) — — (1) — (18) Recoveries 6 — 3 1 — 10 Total ending allowance balance $ 681 $ 3,622 $ 517 $ 11 $ 67 $ 4,898 (Dollars in Thousands) June 30, 2016 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 745 $ 3,585 $ 602 $ 24 $ 88 $ 5,044 Provision (credit) for loan losses (301) 257 4 (5) (40) (85) Loans charged-off (5) (52) (15) — — (72) Recoveries 25 25 9 3 — 62 Total ending allowance balance $ 464 $ 3,815 $ 600 $ 22 $ 48 $ 4,949 The following table sets forth an analysis of our allowance for loan losses for the six months ended June 30, 2017 and 2016. (Dollars in Thousands) June 30, 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 57 (6) (16) (2) (3) 30 Loans charged-off (17) — — (3) — (20) Recoveries 25 — 6 2 — 33 Total ending allowance balance $ 681 $ 3,622 $ 517 $ 11 $ 67 $ 4,898 (Dollars in Thousands) June 30, 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 (475) 386 86 (10) (73) (85) Loans charged-off (5) (52) (23) — — (80) Recoveries 132 50 13 4 — 199 Total ending allowance balance $ 464 $ 3,815 $ 600 $ 22 $ 48 $ 4,949
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) June 30, 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 $ 100 $ 239 $ — $ 1 $ — $ 340 Collectively evaluated 581 3,383 517 10 67 4,558 Total ending allowance balance $ 681 $ 3,622 $ 517 $ 11 $ 67 $ 4,898 Loans: Individually evaluated for impairment $ 105 $ 3,320 $ 1,092 $ 20 $ — $ 4,537 Collectively evaluated 59,970 214,274 77,716 3,973 — 355,933 Total ending loans balance $ 60,075 $ 217,594 $ 78,808 $ 3,993 $ — $ 360,470 (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) June 30, 2017 December 31, 2016 Unpaid Recorded Allowance Loan Unpaid Recorded Allowance With no related allowance recorded: Commercial $ — $ — $ — $ 53 $ 53 $ — Commercial real estate: Construction — — — — — — Other 2,254 2,254 — 579 579 — Residential real estate 1,091 1,091 — 837 837 — Consumer: Auto — — — — — — Other 4 4 — 5 5 — Subtotal $ 3,349 $ 3,349 $ — $ 1,474 $ 1,474 $ — With an allowance recorded: Commercial $ 105 $ 105 $ 100 $ 7 $ 7 $ 5 Commercial real estate: Construction — — — — — — Other 1,066 1,066 239 954 954 192 Residential real estate 1 1 — — — — Consumer: Auto — — — — — — Other 16 16 1 18 18 1 Subtotal $ 1,188 $ 1,188 $ 340 $ 979 $ 979 $ 198 Total $ 4,537 $ 4,537 $ 340 $ 2,453 $ 2,453 $ 198 Information on impaired loans for the three months ended June 30, 2017 and 2016 is as follows: (Dollars in Thousands) (Dollars in Thousands) June 30, 2017 June 30, 2016 Average Interest Cash Basis Average Interest Cash B asis Commercial $ 105 $ — $ — $ 135 $ 3 $ 3 Commercial real estate: Construction — — — — — — Other 3,324 42 12 1,584 21 21 Residential real estate 1,094 13 8 747 8 8 Consumer: Auto — — — — — — Other 21 — — 25 — — Total $ 4,544 $ 55 $ 20 $ 2,491 $ 32 $ 32 Information on impaired loans for the six months ended June 30, 2017 and 2016 is as follows: (Dollars in Thousands) (Dollars in Thousands) June 30, 2017 June 30, 2016 Average Recorded Investment Interest Income Recognized Cash Basis Average Interest Cash Basis Commercial $ 106 $ 2 $ 2 $ 139 $ 6 $ 6 Commercial real estate: Construction — — — — — — Other 3,328 56 24 1,604 41 41 Residential real estate 1,097 21 15 749 16 15 Consumer: Auto — — — — — — Other 21 1 1 18 1 1 Total $ 4,552 $ 80 $ 42 $ 2,510 $ 64 $ 63
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) June 30, 2017 December 31, 2016 Loans Past Due Nonaccrual Loans Past Due Nonaccrual Commercial $ — $ 100 $ — $ — Commercial real estate: Other — 2,382 — — Residential real estate — 415 — 23 Total $ — $ 2,897 $ — $ 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 June 30, 2017 Commercial $ 58 $ 100 $ — $ 158 $ 59,917 $ 60,075 Commercial real estate: Construction — — — — 50,775 50,775 Other 114 — 2,382 2,496 164,323 166,819 Residential real estate 70 55 415 540 78,268 78,808 Consumer: Auto — — — — 1,121 1,121 Other 16 — — 16 2,856 2,872 Subtotal $ 258 $ 155 $ 2,797 $ 3,210 $ 357,260 $ 360,470 (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	The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2017 and 2016. (Dollars in Thousands) (Dollars in Thousands) Number Pre- Post- Number Pre- Post- June 30, 2017 June 30, 2016 Troubled Debt Restructurings: Commercial 1 $ 5 $ 5 — $ — $ — Consumer — — — 1 7 7 Total 1 $ 5 $ 5 1 $ 7 $ 7 The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2017 and 2016. (Dollars in Thousands) (Dollars in Thousands) Number Pre- Post- Number Pre- Post-Modification Outstanding Recorded June 30, 2017 June 30, 2016 Troubled Debt Restructurings: Commercial 1 $ 5 $ 5 — $ — $ — Consumer — — — 2 21 21 Total 1 $ 5 $ 5 2 $ 21 $ 21
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 June 30, 2017 Commercial $ 58,738 $ — $ 1,337 $ — $ 60,075 Commercial real estate: Construction 50,775 — — — 50,775 Other 161,707 719 4,393 — 166,819 Residential real estate 78,338 — 470 — 78,808 Consumer: Auto 1,121 — — — 1,121 Other 2,861 — 11 — 2,872 Total $ 353,540 $ 719 $ 6,211 $ — $ 360,470 (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)	6 Months Ended
	Jun. 30, 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) June 30, 2017 December 31, 2016 Quoted Significant Significant Quoted Significant Significant Assets: Securities available-for-sale U. S. government agencies and government sponsored entities — $ 1,978 — — $ 1,957 — Agency mortgage-backed securities-residential — 24,378 — — 27,957 — State and municipal — 20,824 — — 21,380 — Trust preferred security — — 1,380 — — 1,240 Corporate bonds — — — — 1,013 — Total investment securities $ — $ 47,180 $ 1,380 $ — $ 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 140 (80) Balance of recurring Level 3 assets at June 30 $ 1,380 $ 1,260
Schedule of carrying amount and estimated fair values of financial instruments	Fair Value Measurements at June 30, 2017 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 6,769 $ 6,769 $ — $ — $ 6,769 Interest-bearing deposits in other financial institutions 24,351 24,351 — — 24,351 Available-for-sale-securities 48,560 — 47,180 1,380 48,560 Loans, net of allowance 355,572 — — 355,294 355,294 Loans held for sale — — — — — Accrued interest receivable 1,435 16 241 1,178 1,435 Federal Home Loan Bank stock 2,053 — — — N/A Financial Liabilities Demand and savings deposits $ 225,804 $ 225,804 $ — $ — $ 225,804 Time deposits 145,061 — 145,239 — 145,239 FHLB advances 40,000 — 39,914 — 39,914 Subordinated debentures 5,000 — — 2,495 2,495 Accrued interest payable 229 14 178 37 229 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 Subordinated debentures 5,000 — — 2,495 2,495 Accrued interest payable 220 12 175 33 220

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share
Schedule of reconciliation of basic and diluted earnings per share computations	2017 2016 Quarter ended June 30, 2017 Quarter ended June 30, 2016 Weighted Per Weighted Per Average Share Average Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 1,108 $ 1,074 Dividends on preferred stock during the year (119) (123) Net income available to common shareholders $ 989 2,104,002 $ 0.47 $ 951 1,998,979 $ 0.48 Effect of dilutive securities Stock options — — — 69 Performance share units — 10,246 — 1,725 Convertible preferred stock 119 435,875 123 539,175 Diluted earnings per share Net income available to common stockholders and assumed conversions $ 1,108 2,550,123 $ 0.43 $ 1,074 2,539,948 $ 0.42 Six months ended June 30, 2017 Six months ended June 30, 2016 Weighted Weighted Average Per Share Average Per Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 2,015 $ 1,979 Dividends on preferred stock during the year (238) (247) Net income available to common shareholders $ 1,777 2,058,318 $ 0.86 $ 1,732 1,996,278 $ 0.87 Effect of dilutive securities: Stock options — — — 59 Performance share units — 10,021 — 2,937 Convertible preferred stock 238 481,634 247 541,563 Diluted earnings per share: Net income available to common stockholders and assumed conversions $ 2,015 2,549,973 $ 0.79 $ 1,979 2,540,837 $ 0.78

Regulatory Capital Matters (Tab

Regulatory Capital Matters (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2017 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 50,225 12.68 % $ 31,711 8.00 % N/A N/A Citizens First Bank, Inc. 49,973 12.62 % 31,688 8.00 % $ 39,610 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 45,327 11.44 % 23,783 6.00 % N/A N/A Citizens First Bank, Inc. 45,075 11.38 % 23,766 6.00 % 31,688 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 40,327 10.18 % 17,835 4.50 % N/A N/A Citizens First Bank, Inc. 45,075 11.38 % 17,825 4.50 % 25,747 6.50 % Tier I Leverage Capital to average assets Consolidated 45,327 10.06 % 18,015 4.00 % N/A N/A Citizens First Bank, Inc. 45,075 9.94 % 18,133 4.00 % 22,666 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 % (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	Jun. 30, 2017	Dec. 31, 2016
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	$ 48,608	$ 54,340
Gross Unrealized Gains	545	328
Gross Unrealized Losses	(593)	(1,121)
Fair Value	48,560	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	(20)	(41)
Fair Value	1,978	1,957
Agency mortgage-backed securities: residential
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	24,280	28,148
Gross Unrealized Gains	155	99
Gross Unrealized Losses	(57)	(290)
Fair Value	24,378	27,957
State and municipal
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	20,443	21,310
Gross Unrealized Gains	390	216
Gross Unrealized Losses	(9)	(146)
Fair Value	20,824	21,380
Trust preferred security
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	1,887	1,884
Gross Unrealized Losses	(507)	(644)
Fair Value	$ 1,380	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 Securities24

Available-For-Sale Securities - Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Amortized Cost
Due in one year or less	$ 2,264
Due from one to five years	11,215
Due from five to ten years	6,214
Due after ten years	4,635
Agency mortgage-backed: residential	24,280
Total	48,608
Fair Value
Due in one year or less	2,265
Due from one to five years	11,318
Due from five to ten years	6,422
Due after ten years	4,177
Agency mortgage-backed: residential	24,378
Fair Value	$ 48,560	$ 53,547

Available-For-Sale Securities25

Available-For-Sale Securities - Investment Securities with Unrealized Losses by Investment Category (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)item	Dec. 31, 2016USD ($)
Investment holdings
Fair Value, Less than 12 Months	$ 11,119	$ 28,078
Unrealized Losses, Less than 12 Months	(85)	(473)
Fair Value, 12 Months or More	1,674	1,533
Unrealized Losses, 12 Months or More	(508)	(648)
Fair Value, Total	12,793	29,611
Unrealized Losses, Total	$ (593)	(1,121)
Number of adverse conditions identified, related to repayment of securities that are not rated | item	0
Unrealized losses, 12 months or more (as a percent)	99.80%
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	1,978	1,957
Unrealized Losses, Less than 12 Months	(20)	(41)
Fair Value, Total	1,978	1,957
Unrealized Losses, Total	(20)	(41)
Agency mortgage-backed securities: residential
Investment holdings
Fair Value, Less than 12 Months	8,095	16,722
Unrealized Losses, Less than 12 Months	(57)	(290)
Fair Value, Total	8,095	16,722
Unrealized Losses, Total	(57)	(290)
State and municipal
Investment holdings
Fair Value, Less than 12 Months	1,046	9,399
Unrealized Losses, Less than 12 Months	(8)	(142)
Fair Value, 12 Months or More	294	293
Unrealized Losses, 12 Months or More	(1)	(4)
Fair Value, Total	1,340	9,692
Unrealized Losses, Total	(9)	(146)
Trust preferred security
Investment holdings
Fair Value, 12 Months or More	1,380	1,240
Unrealized Losses, 12 Months or More	(507)	(644)
Fair Value, Total	1,380	1,240
Unrealized Losses, Total	$ (507)	$ (644)

Loans and Allowance for Loan 26

Loans and Allowance for Loan Losses - Loans By Category (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015
Categories of loans
Total loans	$ 360,470		$ 359,391
Less Allowance for loan losses	(4,898)	$ (4,906)	(4,854)	$ (4,949)	$ (5,044)	$ (4,916)
Net Loans	355,572		354,537
Commercial
Categories of loans
Total loans	60,075		60,388
Less Allowance for loan losses	(681)	(665)	(615)	(464)	(745)	(812)
Commercial Real Estate
Categories of loans
Total loans	217,594		216,511
Less Allowance for loan losses	(3,622)	(3,640)	(3,628)	(3,815)	(3,585)	(3,431)
Residential Real Estate
Categories of loans
Total loans	78,808		78,422
Less Allowance for loan losses	(517)	(537)	(527)	(600)	(602)	(524)
Consumer
Categories of loans
Total loans	3,993		4,070
Less Allowance for loan losses	(11)	(13)	(14)	(22)	(24)	(28)
Unallocated
Categories of loans
Less Allowance for loan losses	(67)	$ (51)	(70)	$ (48)	$ (88)	$ (121)
Commercial | Commercial
Categories of loans
Total loans	60,075		60,388
Real estate | Residential Real Estate
Categories of loans
Total loans	78,808		78,422
Construction | Commercial Real Estate
Categories of loans
Total loans	50,775		38,168
Auto | Consumer
Categories of loans
Total loans	1,121		1,195
Other | Commercial Real Estate
Categories of loans
Total loans	166,819		178,343
Other | Consumer
Categories of loans
Total loans	$ 2,872		$ 2,875

Loans and Allowance for Loan 27

Loans and Allowance for Loan Losses - Allowance Roll-forward and Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Dec. 31, 2016
Allowance for loan losses:
Beginning Balance	$ 4,906	$ 5,044	$ 4,854	$ 4,916
Provision (credit) for loan losses		(85)	30	(85)
Loans charged-off	(18)	(72)	(20)	(80)
Recoveries	10	62	33	199
Total ending allowance balance	4,898	4,949	4,898	4,949
Accrued interest receivable					$ 1,435	$ 1,622
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment					340	198
Collectively evaluated					4,558	4,656
Total ending allowance balance	4,906	5,044	4,854	4,916	4,898	4,854
Loans:
Individually evaluated for impairment					4,537	2,453
Collectively evaluated					355,933	356,938
Loans and Leases Receivable, Gross, Total					360,470	359,391
Loans Receivable
Allowance for loan losses:
Interest receivable not included in recorded investment					1,200	1,300
Commercial
Allowance for loan losses:
Beginning Balance	665	745	615	812
Provision (credit) for loan losses	27	(301)	57	(475)
Loans charged-off	(17)	(5)	(17)	(5)
Recoveries	6	25	25	132
Total ending allowance balance	681	464	681	464
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment					100	5
Collectively evaluated					581	610
Total ending allowance balance	665	745	615	812	681	615
Loans:
Individually evaluated for impairment					105	60
Collectively evaluated					59,970	60,328
Loans and Leases Receivable, Gross, Total					60,075	60,388
Commercial Real Estate
Allowance for loan losses:
Beginning Balance	3,640	3,585	3,628	3,431
Provision (credit) for loan losses	(18)	257	(6)	386
Loans charged-off		(52)		(52)
Recoveries		25		50
Total ending allowance balance	3,622	3,815	3,622	3,815
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment					239	192
Collectively evaluated					3,383	3,436
Total ending allowance balance	3,640	3,585	3,628	3,431	3,622	3,628
Loans:
Individually evaluated for impairment					3,320	1,533
Collectively evaluated					214,274	214,978
Loans and Leases Receivable, Gross, Total					217,594	216,511
Residential Real Estate
Allowance for loan losses:
Beginning Balance	537	602	527	524
Provision (credit) for loan losses	(23)	4	(16)	86
Loans charged-off		(15)		(23)
Recoveries	3	9	6	13
Total ending allowance balance	517	600	517	600
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated					517	527
Total ending allowance balance	537	602	527	524	517	527
Loans:
Individually evaluated for impairment					1,092	837
Collectively evaluated					77,716	77,585
Loans and Leases Receivable, Gross, Total					78,808	78,422
Consumer
Allowance for loan losses:
Beginning Balance	13	24	14	28
Provision (credit) for loan losses	(2)	(5)	(2)	(10)
Loans charged-off	(1)		(3)
Recoveries	1	3	2	4
Total ending allowance balance	11	22	11	22
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment					1	1
Collectively evaluated					10	13
Total ending allowance balance	13	24	14	28	11	14
Loans:
Individually evaluated for impairment					20	23
Collectively evaluated					3,973	4,047
Loans and Leases Receivable, Gross, Total					3,993	4,070
Unallocated
Allowance for loan losses:
Beginning Balance	51	88	70	121
Provision (credit) for loan losses	16	(40)	(3)	(73)
Total ending allowance balance	67	48	67	48
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated					67	70
Total ending allowance balance	$ 51	$ 88	$ 70	$ 121	67	70
Commercial | Commercial
Loans:
Loans and Leases Receivable, Gross, Total					60,075	60,388
Real estate | Residential Real Estate
Loans:
Loans and Leases Receivable, Gross, Total					78,808	78,422
Construction | Commercial Real Estate
Loans:
Loans and Leases Receivable, Gross, Total					50,775	38,168
Auto | Consumer
Loans:
Loans and Leases Receivable, Gross, Total					1,121	1,195
Other | Commercial Real Estate
Loans:
Loans and Leases Receivable, Gross, Total					166,819	178,343
Other | Consumer
Loans:
Loans and Leases Receivable, Gross, Total					$ 2,872	$ 2,875

Loans and Allowance for Loan 28

Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Unpaid Principal Balance
With no related allowance recorded	$ 3,349,000		$ 3,349,000		$ 1,474,000
With an allowance recorded	1,188,000		1,188,000		979,000
Total	4,537,000		4,537,000		2,453,000
Recorded Investment
With no related allowance recorded	3,349,000		3,349,000		1,474,000
With an allowance recorded	1,188,000		1,188,000		979,000
Total	4,537,000		4,537,000		2,453,000
Allowance for Loan Losses Allocated
Total	340,000		340,000		198,000
Average Recorded Investment
Total	4,544,000	$ 2,491,000	4,552,000	$ 2,510,000
Interest Income Recognized
Total	55,000	32,000	80,000	64,000
Cash Basis Interest Recognized
Total	20,000	32,000	42,000	63,000
Commercial
Average Recorded Investment
Total			106,000	139,000
Interest Income Recognized
Total			2,000	6,000
Cash Basis Interest Recognized
Total			2,000	6,000
Commercial Real Estate
Recorded Investment
Total	78,000		78,000
Residential Real Estate
Average Recorded Investment
Total			1,097,000	749,000
Interest Income Recognized
Total			21,000	16,000
Cash Basis Interest Recognized
Total			15,000	15,000
Commercial | Commercial
Unpaid Principal Balance
With no related allowance recorded					53,000
With an allowance recorded	105,000		105,000		7,000
Recorded Investment
With no related allowance recorded					53,000
With an allowance recorded	105,000		105,000		7,000
Allowance for Loan Losses Allocated
Total	100,000		100,000		5,000
Average Recorded Investment
Total	105,000	135,000
Interest Income Recognized
Total		3,000
Cash Basis Interest Recognized
Total		3,000
Real estate | Residential Real Estate
Unpaid Principal Balance
With no related allowance recorded	1,091,000		1,091,000		837,000
With an allowance recorded	1,000		1,000
Recorded Investment
With no related allowance recorded	1,091,000		1,091,000		837,000
With an allowance recorded	1,000		1,000
Average Recorded Investment
Total	1,094,000	747,000
Interest Income Recognized
Total	13,000	8,000
Cash Basis Interest Recognized
Total	8,000	8,000
Other | Commercial Real Estate
Unpaid Principal Balance
With no related allowance recorded	2,254,000		2,254,000		579,000
With an allowance recorded	1,066,000		1,066,000		954,000
Recorded Investment
With no related allowance recorded	2,254,000		2,254,000		579,000
With an allowance recorded	1,066,000		1,066,000		954,000
Allowance for Loan Losses Allocated
Total	239,000		239,000		192,000
Average Recorded Investment
Total	3,324,000	1,584,000	3,328,000	1,604,000
Interest Income Recognized
Total	42,000	21,000	56,000	41,000
Cash Basis Interest Recognized
Total	12,000	21,000	24,000	41,000
Other | Consumer
Unpaid Principal Balance
With no related allowance recorded	4,000		4,000		5,000
With an allowance recorded	16,000		16,000
Recorded Investment
With no related allowance recorded	4,000		4,000		5,000
With an allowance recorded	16,000		16,000		18,000
Allowance for Loan Losses Allocated
Total	1,000		1,000		$ 1,000
Average Recorded Investment
Total	$ 21,000	$ 25,000	21,000	18,000
Interest Income Recognized
Total			1,000	1,000
Cash Basis Interest Recognized
Total			$ 1,000	$ 1,000

Loans and Allowance for Loan 29

Loans and Allowance for Loan Losses - Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	$ 2,897	$ 23
Residential Real Estate
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	415	$ 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 30

Loans and Allowance for Loan Losses - Aging of Past Due Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Aging of the recorded investment in past due loans
Total Past Due	$ 3,210	$ 219
Current	357,260	359,172
Loans and Leases Receivable, Gross, Total	360,470	359,391
Commercial
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	60,075	60,388
Commercial Real Estate
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	217,594	216,511
Residential Real Estate
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	78,808	78,422
Consumer
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	3,993	4,070
Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due	158
Current	59,917	60,388
Loans and Leases Receivable, Gross, Total	60,075	60,388
Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	540	218
Current	78,268	78,204
Loans and Leases Receivable, Gross, Total	78,808	78,422
Construction | Commercial Real Estate
Aging of the recorded investment in past due loans
Current	50,775	38,168
Loans and Leases Receivable, Gross, Total	50,775	38,168
Auto | Consumer
Aging of the recorded investment in past due loans
Total Past Due		1
Current	1,121	1,194
Loans and Leases Receivable, Gross, Total	1,121	1,195
Other | Commercial Real Estate
Aging of the recorded investment in past due loans
Total Past Due	2,496
Current	164,323	178,343
Loans and Leases Receivable, Gross, Total	166,819	178,343
Other | Consumer
Aging of the recorded investment in past due loans
Total Past Due	16
Current	2,856	2,875
Loans and Leases Receivable, Gross, Total	2,872	2,875
30 to 59 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	258	167
30 to 59 Days Past Due | Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due	58
30 to 59 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	70	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	114
30 to 59 Days Past Due | Other | Consumer
Aging of the recorded investment in past due loans
Total Past Due	16
60 to 89 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	155	29
60 to 89 Days Past Due | Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due	100
60 to 89 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	55	29
Over 90 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	2,797	23
Over 90 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	415	$ 23
Over 90 Days Past Due | Other | Commercial Real Estate
Aging of the recorded investment in past due loans
Total Past Due	$ 2,382

Loans and Allowance for Loan 31

Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)loanitem	Jun. 30, 2016USD ($)loan	Jun. 30, 2017USD ($)loanitem	Jun. 30, 2016USD ($)loan	Dec. 31, 2016USD ($)
Troubled Debt Restructurings
Total troubled debt restructurings	$ 2,200,000		$ 2,200,000		$ 2,300,000
Commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings	$ 0		$ 0
Number of loans reported as troubled debt restructurings | item	10		10
Number of loans accruing that are classified as troubled debt restructurings | loan	9
Loans accruing that are classified as troubled debt restructurings	$ 1,600,000		$ 1,600,000
Number of loans on nonaccrual status that are classified as troubled debt restructurings | loan	1
Loans on nonaccrual status that are classified as troubled debt restructurings	$ 579,000		$ 579,000
Number of loans modified as troubled debt restructurings that occurred during the year | loan	1	1	1	2
Pre-Modification Outstanding Recorded Investment	$ 5,000	$ 7,000	$ 5,000	$ 21,000
Post-Modification Outstanding Recorded Investment	5,000	7,000	5,000	21,000
Specific allocations reported for the troubled debt restructurings	$ 191,000	231,000	191,000	231,000
Number of payment defaults reported for troubled debt restructurings | loan	0
Troubled debt restructurings charged off	$ 0		3,000
Total recorded investment for loans modified (other than through troubled debt restructuring)	$ 17,200,000	$ 13,100,000	$ 17,200,000	$ 13,100,000
Number of reported charge-offs for troubled debt restructurings | loan			1
Commercial
Troubled Debt Restructurings
Number of loans modified as troubled debt restructurings that occurred during the year | loan	1		1
Pre-Modification Outstanding Recorded Investment	$ 5,000		$ 5,000
Post-Modification Outstanding Recorded Investment	$ 5,000		$ 5,000
Consumer
Troubled Debt Restructurings
Number of loans modified as troubled debt restructurings that occurred during the year | loan		1		2
Pre-Modification Outstanding Recorded Investment		$ 7,000		$ 21,000
Post-Modification Outstanding Recorded Investment		$ 7,000		$ 21,000

Loans and Allowance for Loan 32

Loans and Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis	$ 25
Total loans	360,470	$ 359,391
Pass
Credit Quality Indicators
Total loans	353,540	354,709
Special Mention
Credit Quality Indicators
Total loans	719	741
Substandard
Credit Quality Indicators
Total loans	6,211	3,941
Commercial | Commercial
Credit Quality Indicators
Total loans	60,075	60,388
Commercial | Commercial | Pass
Credit Quality Indicators
Total loans	58,738	59,990
Commercial | Commercial | Substandard
Credit Quality Indicators
Total loans	1,337	398
Real estate | Residential Real Estate
Credit Quality Indicators
Total loans	78,808	78,422
Real estate | Residential Real Estate | Pass
Credit Quality Indicators
Total loans	78,338	77,982
Real estate | Residential Real Estate | Substandard
Credit Quality Indicators
Total loans	470	440
Construction | Commercial Real Estate
Credit Quality Indicators
Total loans	50,775	38,168
Construction | Commercial Real Estate | Pass
Credit Quality Indicators
Total loans	50,775	38,168
Auto | Consumer
Credit Quality Indicators
Total loans	1,121	1,195
Auto | Consumer | Pass
Credit Quality Indicators
Total loans	1,121	1,195
Other | Commercial Real Estate
Credit Quality Indicators
Total loans	166,819	178,343
Other | Commercial Real Estate | Pass
Credit Quality Indicators
Total loans	161,707	174,507
Other | Commercial Real Estate | Special Mention
Credit Quality Indicators
Total loans	719	741
Other | Commercial Real Estate | Substandard
Credit Quality Indicators
Total loans	4,393	3,095
Other | Consumer
Credit Quality Indicators
Total loans	2,872	2,875
Other | Consumer | Pass
Credit Quality Indicators
Total loans	2,861	2,867
Other | Consumer | Substandard
Credit Quality Indicators
Total loans	$ 11	$ 8

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured on a Recurring and Nonrecurring Basis (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Assets:
Securities available-for-sale	$ 48,560,000		$ 53,547,000
Fair value, assets measured on recurring basis, unobservable input reconciliation
Impaired loans	4,537,000		2,453,000
Principal balance of impaired loans	227,000		0
Valuation allowance	149,000		0
Increase in the provision for loan losses	$ 149,000		0
Discount rate on appraisal values for loans and real estate properties	20.00%
U. S. government agencies and government sponsored entities
Assets:
Securities available-for-sale	$ 1,978,000		1,957,000
Agency mortgage-backed securities: residential
Assets:
Securities available-for-sale	24,378,000		27,957,000
State and municipal
Assets:
Securities available-for-sale	20,824,000		21,380,000
Trust preferred security
Assets:
Securities available-for-sale	1,380,000		1,240,000
Corporate bonds
Assets:
Securities available-for-sale			1,013,000
Level 2
Assets:
Securities available-for-sale	47,180,000		52,307,000
Level 3
Assets:
Securities available-for-sale	1,380,000		1,240,000
Recurring basis | Level 2
Assets:
Securities available-for-sale	47,180,000		52,307,000
Recurring basis | Level 2 | U. S. government agencies and government sponsored entities
Assets:
Securities available-for-sale	1,978,000		1,957,000
Recurring basis | Level 2 | Agency mortgage-backed securities: residential
Assets:
Securities available-for-sale	24,378,000		27,957,000
Recurring basis | Level 2 | State and municipal
Assets:
Securities available-for-sale	20,824,000		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	1,380,000		1,240,000
Recurring basis | Level 3 | Trust preferred security
Assets:
Securities available-for-sale	1,380,000		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	140,000	(80,000)
Recurring Level 3 assets, end of period balance	1,380,000	$ 1,260,000	$ 1,240,000
Commercial Real Estate
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 ($)	Jun. 30, 2017	Dec. 31, 2016
Valuation techniques
Impaired loans	$ 4,537,000	$ 2,453,000
Commercial Real Estate
Valuation techniques
Impaired loans	$ 78,000

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amount and Estimated Fair Values (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Financial Assets
Interest-bearing deposits in other financial institutions	$ 24,351	$ 11,018
Available-for-sale securities	48,560	53,547
Loans, net of allowance	355,572	354,537
Accrued interest receivable	1,435	1,622
Federal Home Loan Bank stock	2,053	2,025
Financial Liabilities
Subordinated debentures	5,000	5,000
Accrued interest payable	229	220
Level 1
Financial Assets
Cash and cash equivalents	6,769	8,542
Interest-bearing deposits in other financial institutions	24,351	11,018
Accrued interest receivable	16	16
Financial Liabilities
Demand and savings deposits	225,804	225,942
Accrued interest payable	14	12
Level 2
Financial Assets
Available-for-sale securities	47,180	52,307
Loans held for sale		266
Accrued interest receivable	241	268
Financial Liabilities
Time deposits	145,239	144,558
FHLB advances	39,914	34,897
Accrued interest payable	178	175
Level 3
Financial Assets
Available-for-sale securities	1,380	1,240
Loans, net of allowance	355,294	354,300
Accrued interest receivable	1,178	1,338
Financial Liabilities
Subordinated debentures	2,495	2,495
Accrued interest payable	37	33
Carrying Amount
Financial Assets
Cash and cash equivalents	6,769	8,542
Interest-bearing deposits in other financial institutions	24,351	11,018
Available-for-sale securities	48,560	53,547
Loans, net of allowance	355,572	354,537
Loans held for sale		264
Accrued interest receivable	1,435	1,622
Federal Home Loan Bank stock	2,053	2,025
Financial Liabilities
Demand and savings deposits	225,804	225,942
Time deposits	145,061	144,497
FHLB advances	40,000	35,000
Subordinated debentures	5,000	5,000
Accrued interest payable	229	220
Total
Financial Assets
Cash and cash equivalents	6,769	8,542
Interest-bearing deposits in other financial institutions	24,351	11,018
Available-for-sale securities	48,560	53,547
Loans, net of allowance	355,294	354,300
Loans held for sale		266
Accrued interest receivable	1,435	1,622
Financial Liabilities
Demand and savings deposits	225,804	225,942
Time deposits	145,239	144,558
FHLB advances	39,914	34,897
Subordinated debentures	2,495	2,495
Accrued interest payable	$ 229	$ 220

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Basic earnings per share:
Net income	$ 1,108	$ 1,074	$ 2,015	$ 1,979
Less: Dividends on preferred stock during the quarter	(119)	(123)	(238)	(247)
Net income available for common stockholders	$ 989	$ 951	$ 1,777	$ 1,732
Weighted Average Shares, basic
Weighted Average Shares, basic	2,104,002	1,998,979	2,058,318	1,996,278
Weighted Average Shares, diluted
Net income available to common stockholders and assumed conversions	$ 1,108	$ 1,074	$ 2,015	$ 1,979
Weighted Average Shares, diluted	2,550,123	2,539,948	2,549,973	2,540,837
Per Share Amount
Basic earnings per common share (in dollars per share)	$ 0.47	$ 0.48	$ 0.86	$ 0.87
Diluted earnings per common share (in dollars per share)	$ 0.43	$ 0.42	$ 0.79	$ 0.78
Diluted earnings per share
Net income available to common stockholders and assumed conversions	$ 1,108	$ 1,074	$ 2,015	$ 1,979
Convertible preferred stock
Effect of dilutive securities
Income	$ 119	$ 123	$ 238	$ 247
Convertible preferred stock (in shares)	435,875	539,175	481,634	541,563
Stock options
Effect of dilutive securities
Stock options (in shares)		69		59
Performance share units
Effect of dilutive securities
Performance share units (in shares)	10,246	1,725	10,021	2,937

Regulatory Capital Matters (Det

Regulatory Capital Matters (Details) $ in Thousands	6 Months Ended
	Jun. 30, 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	$ 50,225	$ 48,671
For Capital Adequacy Purposes, Amount	$ 31,711	$ 30,848
Total Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	12.68%	12.62%
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%	8.00%
Tier I Capital (to Risk-Weighted Assets)
Actual, Amount	$ 45,327	$ 43,852
For Capital Adequacy Purposes, Amount	$ 23,783	$ 23,136
Tier I Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.44%	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	$ 40,327	$ 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)	10.18%	8.19%
For Capital Adequacy Purposes, Ratio (as a percent)	4.50%	4.50%
Tier I Leverage Capital to Average Assets
Actual, Amount	$ 45,327	$ 43,852
For Capital Adequacy Purposes, Amount	$ 18,015	$ 17,600
Tier I Capital (to Average Assets)
Actual, Ratio (as a percent)	10.06%	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	$ 49,973	$ 48,316
For Capital Adequacy Purposes, Amount	31,688	30,843
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 39,610	$ 38,554
Total Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	12.62%	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	$ 45,075	$ 43,497
For Capital Adequacy Purposes, Amount	23,766	23,132
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 31,688	$ 30,843
Tier I Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.38%	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	$ 45,075	$ 43,497
For Capital Adequacy Purposes, Amount	17,825	17,349
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 25,747	$ 25,060
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.38%	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	$ 45,075	$ 43,497
For Capital Adequacy Purposes, Amount	18,133	17,600
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 22,666	$ 22,000
Tier I Capital (to Average Assets)
Actual, Ratio (as a percent)	9.94%	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 ($)	May 15, 2017	Jun. 30, 2017	Dec. 31, 2016	Dec. 31, 2004
Preferred stock
Stock issued (in shares)		0	237
Cumulative dividends (as a percent)		6.50%	6.50%
Aggregate redemption price		$ 192,000
Common stock, outstanding shares	2,019,052	2,526,377	2,000,852
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%
Aggregate redemption price		$ 191,952
Aggregate redemption price (in shares)	229	6
Redemption price (in dollars per share)	$ 31,992
Conversion price (in dollars per share)	$ 14.06	$ 14.06		$ 15.50
Period after the date of issuance preferred stock can be converted				3 years
Convertible preferred stock converted to common shares	223
Preferred shares converted to common shares	507,325