Citizens First (CZFC) 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 14, 2018
Document and Entity Information
Entity Registrant Name	CITIZENS FIRST CORP
Entity Central Index Key	1,073,475
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
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		2,537,605
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and due from financial institutions	$ 6,303	$ 6,444
Interest-bearing deposits in other financial institutions	22,962	13,532
Available-for-sale securities	46,044	48,616
Loans held for sale	570	427
Loans, net of allowance for loan losses of $4,693 and $4,724 at March 31, 2018 and December 31, 2017, respectively	384,242	369,515
Premises and equipment, net	9,060	9,140
Bank owned life insurance (BOLI)	8,571	8,528
Federal Home Loan Bank (FHLB) stock, at cost	2,065	2,053
Accrued interest receivable	1,518	1,681
Deferred income taxes	768	670
Goodwill and other intangible assets	4,203	4,221
Other assets	699	555
Total assets	487,005	465,382
Deposits.
Noninterest bearing	53,834	53,259
Savings, NOW and money market	183,779	175,087
Time	148,895	143,968
Total deposits	386,508	372,314
FHLB advances and other borrowings	47,000	40,000
Subordinated debentures	5,000	5,000
Accrued interest payable	328	285
Other liabilities	1,741	1,949
Total liabilities	440,577	419,548
Stockholders' Equity
Common stock, no par value, authorized 5,000,000 shares; issued and outstanding 2,537,605 shares at March 31, 2018 and 2,526,377 shares at December 31, 2017, respectively	33,169	33,138
Retained earnings	14,162	13,142
Accumulated other comprehensive income (loss)	(903)	(446)
Total stockholders' equity	46,428	45,834
Total liabilities and stockholders' equity	$ 487,005	$ 465,382

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheets
Loans, allowance for loan losses (in dollars)	$ 4,693	$ 4,724
Common stock no par value	$ 0	$ 0
Common stock, authorized shares	5,000,000	5,000,000
Common stock, issued shares	2,537,605	2,526,377
Common stock, outstanding shares	2,537,605	2,526,377

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest and dividend income
Loans	$ 4,497	$ 4,124
Taxable securities	168	149
Non-taxable securities	103	137
Federal funds sold and other	92	47
Total interest and dividend income	4,860	4,457
Interest expense
Deposits	729	547
FHLB advances and other borrowings	189	97
Subordinated debentures	42	33
Total interest expense	960	677
Net interest income	3,900	3,780
Provision for loan losses	30	30
Net interest income after provision for loan losses	3,870	3,750
Non-interest income
Service charges on deposit accounts	298	278
Other service charges and fees	281	264
Gain on sale of mortgage loans	50	68
Non-deposit brokerage fees	99	87
Lease income	52	52
BOLI income	43	43
Gain on sale of available-for-sale securities		23
Total non-interest income	823	815
Non-interest expenses
Salaries and employee benefits	1,846	1,734
Net occupancy expense	453	461
Advertising and public relations	81	71
Professional fees	164	130
Data processing services	194	253
Franchise shares and deposit tax	120	132
FDIC insurance	42	49
Other	459	461
Total non-interest expenses	3,359	3,291
Income before income taxes	1,334	1,274
Income taxes	250	367
Net income	1,084	907
Dividends on preferred stock		119
Net income available for common stockholders	$ 1,084	$ 788
Basic earnings per common share (in dollars per share)	$ 0.43	$ 0.39
Diluted earnings per common share (in dollars per share)	$ 0.43	$ 0.36

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Comprehensive income, net of tax
Net income	$ 1,084	$ 907
Other comprehensive income (loss)
Reclassification adjustment for gains included in net income, net of taxes		(15)
Change in unrealized gain (loss) on available for sale securities, net of taxes at 34%	(369)	230
Total other comprehensive income (loss)	(369)	215
Comprehensive income	$ 715	$ 1,122

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, 2016	$ 7,261	$ 25,920	$ 9,706	$ (523)	$ 42,364
Increase (Decrease) in Stockholders' Equity
Net income			907		907
Conversion of cumulative preferred	(245)	245
Stock based compensation		21			21
Change in accumulated other comprehensive income				215	215
Dividend declared and paid on preferred stock			(119)		(119)
Balance at Mar. 31, 2017	$ 7,016	26,186	10,493	(308)	43,387
Balance at Dec. 31, 2017		33,138	13,142	(446)	45,834
Increase (Decrease) in Stockholders' Equity
Net income			1,084		1,084
Stock based compensation		31			31
Change in accumulated other comprehensive income				(369)	(369)
Dividend declared and paid on common stock			(151)		(151)
Balance at Mar. 31, 2018		$ 33,169	14,162	(903)	$ 46,428
Increase (Decrease) in Stockholders' Equity
Reclassification of disproportionate tax effect | Accounting Standards Update 2018-02			$ 88	$ (88)

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical)	3 Months Ended
	Mar. 31, 2018$ / shares
Consolidated Statements of Changes in Stockholders' Equity
Dividends declared and paid on common stock (in dollars per share)	$ 0.06

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating Activities
Net income	$ 1,084	$ 907
Items not requiring (providing) cash:
Depreciation	100	120
Provision (credit) for loan losses	30	30
Amortization of premiums and discounts on securities	46	56
Amortization of core deposit intangible	18	18
Stock based compensation	31	21
BOLI Income	(43)	(43)
Proceeds from sale of mortgage loans held for sale	2,317	3,264
Origination of mortgage loans held for sale	(2,410)	(3,153)
Gains on sales of available-for-sale securities		(23)
Gains on sales of mortgage loans held for sale	(50)	(68)
Loss (gain) on sale premises and equipment	(4)	(4)
Changes in:
Accrued interest receivable	163	236
Other assets	(144)	(87)
Accrued interest payable and other liabilities	(165)	(948)
Net cash provided by operating activities	973	326
Investing Activities
Loan originations and payments, net	(14,757)	(6,149)
Increase in interest-bearing deposits in other financial institutions	(9,430)	(11,519)
Purchase of premises and equipment	(19)	(40)
Proceeds from maturities of available-for-sale securities	3,059	1,844
Purchase of available-for-sale securities	1,002
Proceeds from sales of available-for-sale securities		4,869
Proceeds from sales of premises and equipment	4	4
Purchase of FHLB stock	(12)
Net cash used in investing activities	(22,157)	(10,991)
Financing Activities
Net change in demand deposits, money market, NOW and savings accounts	575	(2,618)
Net change in time deposits	13,619	5,575
Proceeds from FHLB advances	10,000	13,000
Repayment of FHLB advances	(3,000)	(7,000)
Dividends paid on common stock	(151)
Dividends paid on preferred stock		(119)
Net cash provided by financing activities	21,043	8,838
Decrease in Cash and Cash Equivalents	(141)	(1,827)
Cash and Cash Equivalents, Beginning of Year	6,444	8,542
Cash and Cash Equivalents, End of Year	6,303	6,715
Supplemental Cash Flows Information
Interest paid	$ 917	662
Income taxes paid		565
Conversion of cumulative preferred stock		$ 245

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Nature of Operations and Summary of Significant Accounting Policies
Nature of Operations and Summary of Significant Accounting Policies	Citizens First Corporation Notes to Unaudited Consolidated Financial Statements 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 2017 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– On January 1, 2018, the Company adopted ASU 2014-09 Revenue from Contracts with Customers and all subsequent amendments to the ASU (collectively, “ASC 606”), which (i) creates a single framework for recognizing revenue from contracts with customers that fall within its scope and (ii) revises when it is appropriate to recognize a gain (loss) from the transfer of nonfinancial assets, such as OREO. The majority of the Company’s revenues come from interest income related to loans, securities and other sources that are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented within non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include service charges on deposit accounts of $298, debit card interchange income of $197, and non-deposit brokerage fees of $99. We elected to implement using the modified retrospective application, with the cumulative effect recorded as an adjustment to opening retained earnings at January 1, 2018. Due to immateriality, we had no cumulative effect to record. 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. Adopting the provisions of ASU 2016-01 did not have a material impact on our consolidated financial statements. The Company currently does not have any equity investments. 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 December 31, 2017, we do not expect the new standard to have a material impact on our 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. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The ASU permitted a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate as a result of the Tax Cuts and Jobs Act. The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted twenty-one percent corporate income tax rate. The Company adopted during the first quarter of 2018 and recorded an increase to retained earnings and an increase to accumulated other comprehensive loss of approximately $88,000.

Reclassifications

Reclassifications	3 Months Ended
	Mar. 31, 2018
Reclassifications
Reclassifications	Note 2 - Reclassifications Certain reclassifications have been made to the consolidated financial statements of prior periods to conform to the current period presentation. These reclassifications do not affect net income or total stockholders’ equity as previously reported.

Available-For-Sale Securities

Available-For-Sale Securities	3 Months Ended
	Mar. 31, 2018
Available-For-Sale Securities
Available-For-Sale Securities	Note 3 - Available-For-Sale Securities The following table summarizes the amortized cost and fair value of the available-for-sale securities portfolio at March 31, 2018 and December 31, 2017 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income: (Dollars in Thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value March 31, 2018 U. S. government agencies and government sponsored entities $ 8,464 $ 9 $ (144) $ 8,329 Agency mortgage-backed securities: residential 18,336 — (474) 17,862 State and municipal 18,498 68 (273) 18,293 Trust preferred security 1,890 — (330) 1,560 Total Available-for-Sale Securities $ 47,188 $ 77 $ (1,221) $ 46,044 December 31, 2017 U. S. government agencies and government sponsored entities $ 1,998 $ — $ (21) $ 1,977 Agency mortgage-backed securities: residential 26,024 14 (227) 25,811 State and municipal 19,381 143 (136) 19,388 Trust preferred security 1,889 — (449) 1,440 Total Available-for-Sale Securities $ 49,292 $ 157 $ (833) $ 48,616 The amortized cost and fair value of investment securities at March 31, 2018 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. March 31, 2018 (Dollars in Thousands) Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 1,572 $ 1,570 Due from one to five years 10,560 10,479 Due from five to ten years 12,032 11,861 Due after ten years 4,688 4,272 Agency mortgage-backed: residential 18,336 17,862 Total $ 47,188 $ 46,044 The following table summarizes the investment securities with unrealized losses by portfolio segment at March 31, 2018 and December 31, 2017, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position: (Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2018: U.S. government agencies and government sponsored entities $ 4,602 $ (82) $ 1,764 $ (62) $ 6,366 $ (144) Agency mortgage-backed: residential 14,180 (325) 3,678 (149) 17,858 (474) State and municipal 11,479 (242) 282 (31) 11,761 (273) Trust preferred security — — 1,560 (330) 1,560 (330) Total temporarily impaired $ 30,261 $ (649) $ 7,284 $ (572) $ 37,545 $ (1,221) (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, 2017: U.S. government agencies and government sponsored entities $ — $ — $ 1,977 $ (21) $ 1,977 $ (21) Agency mortgage-backed: residential 17,798 (113) 4,754 (114) 22,552 (227) State and municipal 8,270 (116) 294 (20) 8,564 (136) Trust preferred security — — 1,440 (449) 1,440 (449) Total temporarily impaired $ 26,068 $ (229) $ 8,465 $ (604) $ 34,533 $ (833) Other-Than-Temporary-Impairment Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. Investment securities classified as available-for-sale are generally evaluated for OTTI under ASC Topic 320, “Investments - Debt and Equity Securities.” In determining OTTI under the ASC Topic 320 model, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. All rated securities are investment grade. For those that are not rated, the financial condition has been evaluated and no adverse conditions were identified related to repayment. Declines in fair value are a function of rate differences in the market and market illiquidity. The Company does not intend or is not expected to be required to sell these securities before recovery of their amortized cost basis. The majority of the Company’s unrealized losses 12 months or more relate to its investment in a single trust preferred security. The security is a single-issuer trust preferred that is not rated. No impairment charge is being taken as no loss of principal or interest is anticipated. All principal and interest payments are being received as scheduled. On a quarterly basis, we evaluate the creditworthiness of the issuer, a bank holding company with operations in the state of Kentucky. Based on the issuer’s continued profitability and well-capitalized position, we do not deem that there is credit loss. The decline in fair value is primarily attributable to illiquidity affecting these markets and not the expected cash flows of the individual securities. We have evaluated the financial condition and near term prospects of the issuer and expect to fully recover our cost basis. This security continues to pay interest as agreed and future payments are expected to be made as agreed. This security is not considered to be other-than-temporarily impaired.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2018
Loans and Allowance for Loan Losses
Loans and Allowance for Loan Losses	Note 4 - Loans and Allowance for Loan Losses Categories of loans include: (Dollars in Thousands) March 31, 2018 December 31, 2017 Commercial $ 58,843 $ 61,221 Commercial real estate: Construction 45,146 44,391 Other 195,831 182,443 Residential real estate 85,293 82,230 Consumer: Auto 1,116 1,184 Other 2,706 2,770 Total Loans 388,935 374,239 Less: Allowance for loan losses (4,693) (4,724) Net loans $ 384,242 $ 369,515 The following table sets forth an analysis of our allowance for loan losses for the three months ending March 31, 2018 and 2017. (Dollars in Thousands) March 31, 2018 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 Provision (credit) for loan losses 22 (40) 45 — 3 30 Loans charged-off (38) — (27) (1) — (66) Recoveries — — 4 1 — 5 Total ending allowance balance $ 617 $ 3,475 $ 576 $ 10 $ 15 $ 4,693 (Dollars in Thousands) March 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 615 $ 3,628 $ 527 $ 14 $ 70 $ 4,854 Provision (credit) for loan losses 31 12 7 (1) (19) 30 Loans charged-off — — — (1) — (1) Recoveries 19 — 3 1 — 23 Total ending allowance balance $ 665 $ 3,640 $ 537 $ 13 $ 51 $ 4,906 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of March 31, 2018 and December 31, 2017, which includes net deferred loan fees. As of March 31, 2018 and December 31, 2017, accrued interest receivable of $1.3 million and $1.4 million, respectively, are not considered significant and therefore not included in the recorded investment in loans presented in the following tables. (Dollars in Thousands) March 31, 2018 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 46 $ 7 $ — $ — $ 53 Collectively evaluated 617 3,429 569 10 15 4,640 Total ending allowance balance $ 617 $ 3,475 $ 576 $ 10 $ 15 $ 4,693 Loans: Individually evaluated for impairment $ 1 $ 2,060 $ 156 $ 6 $ — $ 2,223 Collectively evaluated 58,842 238,917 85,137 3,816 — 386,712 Total ending loans balance $ 58,843 $ 240,977 $ 85,293 $ 3,822 $ — $ 388,935 (Dollars in Thousands) December 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 45 $ — $ — $ — $ 45 Collectively evaluated 633 3,470 554 10 12 4,679 Total ending allowance balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 Loans: Individually evaluated for impairment $ 2 $ 1,393 $ 82 $ 7 $ — $ 1,484 Collectively evaluated 61,219 225,441 82,148 3,947 — 372,755 Total ending loans balance $ 61,221 $ 226,834 $ 82,230 $ 3,954 $ — $ 374,239 The following table presents information related to impaired loans by class of loans as of March 31, 2018 and December 31, 2017. In this table presentation the unpaid principal balance of the loans has not been reduced by partial net charge-offs and the recorded investment of the loans was reduced by partial net charge-offs. (Dollars in Thousands) (Dollars in Thousands) March 31, 2018 December 31, 2017 Unpaid Recorded Allowance for Loan Losses Allocated Unpaid Recorded Allowance With no related allowance recorded: Commercial $ 1 $ 1 $ — $ 2 $ 2 $ — Commercial real estate: Construction — — — — — — Other 1,986 1,986 — 1,317 1,317 — Residential real estate 109 109 — 82 82 — Consumer: Auto — — — — — — Other 6 6 — 7 7 — Subtotal $ 2,102 $ 2,102 $ — $ 1,408 $ 1,408 $ — With an allowance recorded: Commercial $ — $ — $ — $ — $ — $ — Commercial real estate: Construction — — — — — — Other 74 74 46 76 76 45 Residential real estate 47 47 7 — — — Consumer: Auto — — — — — — Other — — — — — — Subtotal $ 121 $ 121 $ 53 $ 76 $ 76 $ 45 Total $ 2,223 $ 2,223 $ 53 $ 1,484 $ 1,484 $ 45 Information on impaired loans for the three months ending March 31, 2018 and 2017 is as follows: (Dollars in Thousands) (Dollars in Thousands) March 31, 2018 March 31, 2017 Average Interest Cash Basis Average Interest Cash Basis Interest Recognized Commercial $ 1 $ — $ — $ 159 $ 3 $ 3 Commercial real estate: Construction — — — — — — Other 2,078 25 1 3,331 15 13 Residential real estate 157 2 1 1,244 9 8 Consumer: Auto — — — — — — Other 6 — — 22 — — Total $ 2,242 $ 27 $ 2 $ 4,756 $ 27 $ 24 The recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of March 31, 2018 and December 31, 2017 are summarized below: (Dollars in Thousands) (Dollars in Thousands) March 31, 2018 December 31, 2017 Loans Past Due Nonaccrual Loans Past Due Nonaccrual Commercial real estate: Other — 1,986 — 1,317 Residential real estate — 101 — 27 Total $ — $ 2,087 $ — $ 1,344 Nonaccrual loans and loans past due 90 days still on accrual include individually classified impaired loans. The following tables present the aging of the recorded investment in past due loans as of March 31, 2018 and December 31, 2017 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 90 and Over Total Past Current Total March 31, 2018 Commercial $ — $ — $ — $ — $ 58,843 $ 58,843 Commercial real estate: Construction — — — — 45,146 45,146 Other 698 — — 698 195,133 195,831 Residential real estate 17 47 — 64 85,229 85,293 Consumer: Auto — — — — 1,116 1,116 Other 1 — — 1 2,705 2,706 Subtotal $ 716 $ 47 $ — $ 763 $ 388,172 $ 388,935 (Dollars in Thousands) 30-59 60-89 90 and Over Total Past Current Total December 31, 2017 Commercial $ 9 $ — $ — $ 9 $ 61,212 $ 61,221 Commercial real estate: Construction — — — — 44,391 44,391 Other — — — — 182,443 182,443 Residential real estate 90 — 27 117 82,113 82,230 Consumer: Auto — — — — 1,184 1,184 Other 3 — — 3 2,767 2,770 Subtotal $ 102 $ — $ 27 $ 129 $ 374,110 $ 374,239 Troubled Debt Restructurings: The Company reported total troubled debt restructurings of $1.4 million and $1.5 million as of March 31, 2018 and December 31, 2017, 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 seven troubled debt restructurings reported at quarter end, five loans totaling $135,000 were on accrual status and two loans totaling $1.3 million were on non-accrual status. There were no troubled debt restructurings that occurred during the three months ending March 31, 2018, and no troubled debt restructuring that occurred during the three months ending March 31, 2017. Specific allocations of $46,000 and $194,000 were reported for troubled debt restructurings as of March 31, 2018 and March 31, 2017. No payment defaults or charge-offs were reported for troubled debt restructuring during the three months ending March 31, 2018 and March 31, 2017. The terms of certain other loans were modified during the three months ending March 31, 2018 and 2017 that did not meet the definition of a troubled debt restructuring. These loans modified during the three months ending March 31, 2018 have a total recorded investment of $8.7 million as of March 31, 2018. These loans modified during the three months ending March 31, 2017 had a total recorded investment of $7.7 million as of March 31, 2017. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes commercial and commercial real estate loans with an outstanding balance greater than $25 thousand and is reviewed on a monthly basis. For residential real estate and consumer loans the analysis primarily involves monitoring the past due status of these loans and at such time that these loans are past due, the Company evaluates the loans to determine if a change in risk category is warranted. The Company uses the following definitions for risk ratings: Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be Pass rated loans. All loans in all loan categories are assigned risk ratings. Based on the most recent analyses performed, the risk category of loans by class of loans is as follows: (Dollars in Thousands) Pass Special Substandard Doubtful Total March 31, 2018 Commercial $ 57,944 $ — $ 899 $ — $ 58,843 Commercial real estate: Construction 45,146 — — — 45,146 Other 193,635 — 2,196 — 195,831 Residential real estate 85,192 — 101 — 85,293 Consumer: Auto 1,116 — — — 1,116 Other 2,697 — 9 — 2,706 Total $ 385,730 $ — $ 3,205 $ — $ 388,935 (Dollars in Thousands) Pass Special Substandard Doubtful Total December 31, 2017 Commercial $ 60,306 $ — $ 915 $ — $ 61,221 Commercial real estate: Construction 44,391 — — — 44,391 Other 178,462 703 3,278 — 182,443 Residential real estate 82,148 55 27 — 82,230 Consumer: Auto 1,184 — — — 1,184 Other 2,762 — 8 — 2,770 Total $ 369,253 $ 758 $ 4,228 $ — $ 374,239

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Measurements
Fair Value Measurements	Note 5 - Fair Value Measurements Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. Level 3 – Significant unobservable inputs that are supported by little or no market activity, reflect a company’s own assumptions about market participant assumptions of fair value, and are significant to the fair value of the assets or liabilities. In determining the appropriate levels, the Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Investment Securities: The fair value of securities available-for-sale are determined by obtaining quoted prices on nationally recognized securities exchanges (level 1 inputs) or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (level 2 inputs). The Company does not have any Level 1 securities. Level 2 securities include certain U.S. agency bonds, collateralized mortgage and debt obligations, and certain municipal securities. The Company also has one Level 3 security. The value of this single issue trust preferred security is obtained on a quarterly basis directly from the originating broker. Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Other Real Estate Owned: Commercial and residential real estate properties classified as other real estate owned (OREO) are measured at fair value, less costs to sell. Fair values are based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Appraisals for collateral-dependent impaired loans and real estate properties classified as other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Bank management. The appraisal values for collateral-dependent impaired loans are discounted to allow for selling expenses and fees, the limited use nature of various properties, the age of the most recent appraisal, and additional discretionary discounts for location, condition, etc. The Bank annually obtains an updated current appraisal value for each OREO property to certify that the fair value has not declined. For each parcel of OREO that has declined in value, the Bank records the decline in value by a direct writedown of the asset. Assets measured at fair value on a recurring basis: Fair Value Measurements at: (Dollars in Thousands) (Dollars in Thousands) March 31, 2018 December 31, 2017 Quoted Significant Significant Quoted Significant Significant Assets: Securities available-for-sale U. S. government agencies and government sponsored entities — $ 8,329 — — $ 1,977 — Agency mortgage-backed securities-residential — 17,862 — — 25,811 — State and municipal — 18,293 — — 19,388 — Trust preferred security — — 1,560 — — 1,440 Corporate bonds — — — — — — Total investment securities $ — $ 44,484 $ 1,560 $ — $ 47,176 $ 1,440 The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31: Trust Preferred Security 2018 2017 Balance of recurring Level 3 assets at January 1 $ 1,440 $ 1,240 Total gains or (losses) for the period included in other comprehensive income 120 20 Balance of recurring Level 3 assets at March 31 $ 1,560 $ 1,260 As of March 31, 2018, there were impaired residential real estate loans with a fair value of $40,000 measured using significant unobservable inputs (level 3). These loans had adjustments using sales comparison valuation techniques for limited use nature of certain properties, age of appraisal, location, and/or condition. These unobservable inputs resulted in adjustments of 15% (weighted average). There were no financial assets measured at fair value on a non-recurring basis as of December 31, 2017. Impaired loans, which are measured for impairment using the fair value of collateral for collateral dependent loans, had a principal balance of $47,000 at March 31, 2018, with a valuation allowance of $7,000, resulting in an additional provision for loan losses of $7,000 in the quarter ending March 31, 2018. 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, 2017. There was no other real estate owned to measure at fair value at March 31, 2018 or December 31, 2017. No write-downs of other real estate were taken in the quarters ending March 31, 2018 or March 31, 2017. The carrying amount and estimated fair values of financial instruments at March 31, 2018 and December 31, 2017 were as follows: Fair Value Measurements at March 31, 2018 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 6,303 $ 6,303 $ — $ — $ 6,303 Interest-bearing deposits in other financial institutions 22,962 22,962 — — 22,962 Available-for-sale-securities 46,044 — 44,484 1,560 46,044 Loans, net of allowance 384,242 — — 377,620 377,620 Loans held for sale 570 — 579 — 579 Accrued interest receivable 1,518 11 230 1,277 1,518 Federal Home Loan Bank stock 2,065 — — — N/A Financial Liabilities Demand and savings deposits $ 237,613 $ 237,613 $ — $ — $ 237,613 Time deposits 148,895 — 146,865 — 146,865 FHLB advances 47,000 — 46,638 — 46,638 Subordinated debentures 5,000 — — 2,543 2,543 Accrued interest payable 328 15 270 43 328 Fair Value Measurements at December 31, 2017 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 6,444 $ 6,444 $ — $ — $ 6,444 Interest-bearing deposits in other financial institutions 13,532 13,532 — — 13,532 Available-for-sale-securities 48,616 — 47,176 1,440 48,616 Loans, net of allowance 369,515 — — 367,159 367,159 Loans held for sale 427 — 435 — 435 Accrued interest receivable 1,681 18 234 1,429 1,681 Federal Home Loan Bank stock 2,053 — — — N/A Financial Liabilities Demand and savings deposits $ 228,346 $ 228,346 $ — $ — $ 228,346 Time deposits 143,968 — 142,440 — 142,440 FHLB advances 40,000 — 39,776 — 39,776 Subordinated debentures 5,000 — — 2,543 2,543 Accrued interest payable 285 14 232 39 285 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) Loans, Net: At March 31, 2018, fair values of loans, excluding loans held for sale, are determined using an estimated exit price. Contractual cash flow estimates are projected using a loan's balance, interest rate, repricing characteristics, maturity and payment amounts. Loans are grouped into homogenous pools for valuation purposes based on type and credit risk metrics. Contractual cash flows are adjusted for potential prepayment estimates, as well as potential defaults over the expected life of each pool. A discount rate is determined based upon current financial conditions and the nature of the cash flow forecast. The resulting exit price for the portfolio is a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. At December 31, 2017, fair values of loans, excluding loans held for sale, was estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values were based on carrying values resulting in a Level 3 classification. Fair values for other loans were estimated using discounted cash flow analyses, using interest rates 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 fair value as described previously. The methods utilized to estimate the fair value of loans did not necessarily represent an exit price (d) Loans Held for Sale: The fair value of loans held for sale is estimated based upon binding contracts and quotes from third party investors resulting in a Level 2 classification. (e) FHLB Stock: It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. (f) 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. (g) 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. (h) Accrued Interest Receivable/Payable: The carrying amounts of accrued interest approximate fair value resulting in a classification consistent with the asset/liability they are associated with.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
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 performance share units, and convertible preferred stock, if dilutive. The following table reconciles the basic and diluted earnings per share computations for the three months ended March 31, 2018 and 2017. 2018 2017 Quarter ended March 31, 2018 Quarter ended March 31, 2017 Weighted Per Weighted Per Average Share Average Share Income Shares Amount Income Shares Amount Basic earnings per share: Net income $ 1,084 $ 907 Dividends on preferred stock during the year — (119) Net income available to common shareholders $ 1,084 2,526,377 $ 0.43 $ 788 2,012,126 $ 0.39 Effect of dilutive securities Performance share units — 14,993 — 8,122 Convertible preferred stock — — 119 527,901 Diluted earnings per share Net income available to common stockholders and assumed conversions $ 1,084 2,541,370 $ 0.43 $ 907 2,548,149 $ 0.36

Regulatory Capital Matters

Regulatory Capital Matters	3 Months Ended
	Mar. 31, 2018
Regulatory Capital Matters
Regulatory Capital Matters	Note 7 - Regulatory Capital Matters Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Management believes as of March 31, 2018 and December 31, 2017, the Company and Citizens First Bank, Inc. met all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. The most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. Under quantitative measures established by regulation to ensure capital adequacy, we are required to maintain minimum amounts and ratios of total Tier 1 capital to risk-weighted assets and to total assets. Interim Final Basel III rules require the Bank to maintain minimum amounts and ratios of common equity Tier I capital to risk-weighted assets. Under Basel III rules, the decision was made to opt-out of including accumulated other comprehensive income in computing regulatory capital. The rules also established a "capital conservation buffer" of 2.5%, to be phased in through January 1, 2019, above the new regulatory minimum risk-based capital ratios. The buffer is 1.875% as of March 31, 2018. The buffer could limit the payment of dividends and discretionary bonuses to officers if a bank fails to maintain required capital levels. The Company’s and Citizens First Bank, Inc.’s actual capital amounts and ratios are also presented in the following table. (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions March 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 53,002 12.85 % $ 32,993 8.00 % N/A N/A Citizens First Bank, Inc. 52,039 12.63 % 32,967 8.00 % $ 41,209 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 47,264 11.71 % 24,745 6.00 % N/A N/A Citizens First Bank, Inc. 47,346 11.49 % 24,726 6.00 % 32,967 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 43,309 10.50 % 18,558 4.50 % N/A N/A Citizens First Bank, Inc. 47,346 11.49 % 18,544 4.50 % 26,786 6.50 % Tier I Leverage Capital to average assets Consolidated 48,309 10.23 % 18,882 4.00 % N/A N/A Citizens First Bank, Inc. 47,346 10.04 % 18,870 4.00 % 23,587 5.0 % (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 51,988 13.07 % $ 31,823 8.00 % N/A N/A Citizens First Bank, Inc. 51,112 12.86 % 31,802 8.00 % $ 39,753 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 47,264 11.88 % 23,867 6.00 % N/A N/A Citizens First Bank, Inc. 46,388 11.67 % 23,852 6.00 % 31,802 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 42,502 10.68 % 17,900 4.50 % N/A N/A Citizens First Bank, Inc. 46,388 11.67 % 17,889 4.50 % 25,839 6.50 % Tier I Leverage Capital to average assets Consolidated 47,264 10.31 % 18,343 4.00 % N/A N/A Citizens First Bank, Inc. 46,388 10.14 % 18,301 4.00 % 22,876 5.0 % (1) When fully phased-in on January 1, 2019, Basel III Capital Rules will require banking organizations to maintain: a minimum ratio of common equity Tier 1 to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer”; a minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer; a minimum ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer; and a minimum ratio of Tier 1 capital to adjusted average consolidated assets of at least 4.0%.

Nature of Operations and Summ16

Nature of Operations and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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 2017 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– On January 1, 2018, the Company adopted ASU 2014-09 Revenue from Contracts with Customers and all subsequent amendments to the ASU (collectively, “ASC 606”), which (i) creates a single framework for recognizing revenue from contracts with customers that fall within its scope and (ii) revises when it is appropriate to recognize a gain (loss) from the transfer of nonfinancial assets, such as OREO. The majority of the Company’s revenues come from interest income related to loans, securities and other sources that are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented within non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include service charges on deposit accounts of $298, debit card interchange income of $197, and non-deposit brokerage fees of $99. We elected to implement using the modified retrospective application, with the cumulative effect recorded as an adjustment to opening retained earnings at January 1, 2018. Due to immateriality, we had no cumulative effect to record. 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. Adopting the provisions of ASU 2016-01 did not have a material impact on our consolidated financial statements. The Company currently does not have any equity investments. 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 December 31, 2017, we do not expect the new standard to have a material impact on our 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. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The ASU permitted a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the newly enacted federal corporate income tax rate as a result of the Tax Cuts and Jobs Act. The amount of the reclassification is the difference between the historical corporate income tax rate and the newly enacted twenty-one percent corporate income tax rate. The Company adopted during the first quarter of 2018 and recorded an increase to retained earnings and an increase to accumulated other comprehensive loss of approximately $88,000.

Available-For-Sale Securities (

Available-For-Sale Securities (Tables)	3 Months Ended
	Mar. 31, 2018
Available-For-Sale Securities
Summary of the amortized cost and fair value of investment securities by contractual maturity	March 31, 2018 (Dollars in Thousands) Available-For-Sale Amortized Cost Fair Value Due in one year or less $ 1,572 $ 1,570 Due from one to five years 10,560 10,479 Due from five to ten years 12,032 11,861 Due after ten years 4,688 4,272 Agency mortgage-backed: residential 18,336 17,862 Total $ 47,188 $ 46,044
Summary of the investment securities with unrealized losses aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position	(Dollars in Thousands) Less than 12 Months 12 Months or More Total Description of Unrealized Unrealized Unrealized Securities Fair Value Losses Fair Value Losses Fair Value Losses March 31, 2018: U.S. government agencies and government sponsored entities $ 4,602 $ (82) $ 1,764 $ (62) $ 6,366 $ (144) Agency mortgage-backed: residential 14,180 (325) 3,678 (149) 17,858 (474) State and municipal 11,479 (242) 282 (31) 11,761 (273) Trust preferred security — — 1,560 (330) 1,560 (330) Total temporarily impaired $ 30,261 $ (649) $ 7,284 $ (572) $ 37,545 $ (1,221) (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, 2017: U.S. government agencies and government sponsored entities $ — $ — $ 1,977 $ (21) $ 1,977 $ (21) Agency mortgage-backed: residential 17,798 (113) 4,754 (114) 22,552 (227) State and municipal 8,270 (116) 294 (20) 8,564 (136) Trust preferred security — — 1,440 (449) 1,440 (449) Total temporarily impaired $ 26,068 $ (229) $ 8,465 $ (604) $ 34,533 $ (833)

Loans and Allowance for Loan 18

Loans and Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2018
Loans and Allowance for Loan Losses
Schedule of categories of loans	(Dollars in Thousands) March 31, 2018 December 31, 2017 Commercial $ 58,843 $ 61,221 Commercial real estate: Construction 45,146 44,391 Other 195,831 182,443 Residential real estate 85,293 82,230 Consumer: Auto 1,116 1,184 Other 2,706 2,770 Total Loans 388,935 374,239 Less: Allowance for loan losses (4,693) (4,724) Net loans $ 384,242 $ 369,515
Schedule of activity in the allowance for loan losses	The following table sets forth an analysis of our allowance for loan losses for the three months ending March 31, 2018 and 2017. (Dollars in Thousands) March 31, 2018 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 Provision (credit) for loan losses 22 (40) 45 — 3 30 Loans charged-off (38) — (27) (1) — (66) Recoveries — — 4 1 — 5 Total ending allowance balance $ 617 $ 3,475 $ 576 $ 10 $ 15 $ 4,693 (Dollars in Thousands) March 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Beginning balance $ 615 $ 3,628 $ 527 $ 14 $ 70 $ 4,854 Provision (credit) for loan losses 31 12 7 (1) (19) 30 Loans charged-off — — — (1) — (1) Recoveries 19 — 3 1 — 23 Total ending allowance balance $ 665 $ 3,640 $ 537 $ 13 $ 51 $ 4,906
Schedule of balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method	(Dollars in Thousands) March 31, 2018 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 46 $ 7 $ — $ — $ 53 Collectively evaluated 617 3,429 569 10 15 4,640 Total ending allowance balance $ 617 $ 3,475 $ 576 $ 10 $ 15 $ 4,693 Loans: Individually evaluated for impairment $ 1 $ 2,060 $ 156 $ 6 $ — $ 2,223 Collectively evaluated 58,842 238,917 85,137 3,816 — 386,712 Total ending loans balance $ 58,843 $ 240,977 $ 85,293 $ 3,822 $ — $ 388,935 (Dollars in Thousands) December 31, 2017 Commercial Commercial Real Estate Residential Real Estate Consumer Unallocated Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ 45 $ — $ — $ — $ 45 Collectively evaluated 633 3,470 554 10 12 4,679 Total ending allowance balance $ 633 $ 3,515 $ 554 $ 10 $ 12 $ 4,724 Loans: Individually evaluated for impairment $ 2 $ 1,393 $ 82 $ 7 $ — $ 1,484 Collectively evaluated 61,219 225,441 82,148 3,947 — 372,755 Total ending loans balance $ 61,221 $ 226,834 $ 82,230 $ 3,954 $ — $ 374,239
Schedule of impaired loans by class of loans	(Dollars in Thousands) (Dollars in Thousands) March 31, 2018 December 31, 2017 Unpaid Recorded Allowance for Loan Losses Allocated Unpaid Recorded Allowance With no related allowance recorded: Commercial $ 1 $ 1 $ — $ 2 $ 2 $ — Commercial real estate: Construction — — — — — — Other 1,986 1,986 — 1,317 1,317 — Residential real estate 109 109 — 82 82 — Consumer: Auto — — — — — — Other 6 6 — 7 7 — Subtotal $ 2,102 $ 2,102 $ — $ 1,408 $ 1,408 $ — With an allowance recorded: Commercial $ — $ — $ — $ — $ — $ — Commercial real estate: Construction — — — — — — Other 74 74 46 76 76 45 Residential real estate 47 47 7 — — — Consumer: Auto — — — — — — Other — — — — — — Subtotal $ 121 $ 121 $ 53 $ 76 $ 76 $ 45 Total $ 2,223 $ 2,223 $ 53 $ 1,484 $ 1,484 $ 45 Information on impaired loans for the three months ending March 31, 2018 and 2017 is as follows: (Dollars in Thousands) (Dollars in Thousands) March 31, 2018 March 31, 2017 Average Interest Cash Basis Average Interest Cash Basis Interest Recognized Commercial $ 1 $ — $ — $ 159 $ 3 $ 3 Commercial real estate: Construction — — — — — — Other 2,078 25 1 3,331 15 13 Residential real estate 157 2 1 1,244 9 8 Consumer: Auto — — — — — — Other 6 — — 22 — — Total $ 2,242 $ 27 $ 2 $ 4,756 $ 27 $ 24
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans	(Dollars in Thousands) (Dollars in Thousands) March 31, 2018 December 31, 2017 Loans Past Due Nonaccrual Loans Past Due Nonaccrual Commercial real estate: Other — 1,986 — 1,317 Residential real estate — 101 — 27 Total $ — $ 2,087 $ — $ 1,344
Schedule of aging of the recorded investment in past due loans by class of loans	(Dollars in Thousands) 30-59 60-89 90 and Over Total Past Current Total March 31, 2018 Commercial $ — $ — $ — $ — $ 58,843 $ 58,843 Commercial real estate: Construction — — — — 45,146 45,146 Other 698 — — 698 195,133 195,831 Residential real estate 17 47 — 64 85,229 85,293 Consumer: Auto — — — — 1,116 1,116 Other 1 — — 1 2,705 2,706 Subtotal $ 716 $ 47 $ — $ 763 $ 388,172 $ 388,935 (Dollars in Thousands) 30-59 60-89 90 and Over Total Past Current Total December 31, 2017 Commercial $ 9 $ — $ — $ 9 $ 61,212 $ 61,221 Commercial real estate: Construction — — — — 44,391 44,391 Other — — — — 182,443 182,443 Residential real estate 90 — 27 117 82,113 82,230 Consumer: Auto — — — — 1,184 1,184 Other 3 — — 3 2,767 2,770 Subtotal $ 102 $ — $ 27 $ 129 $ 374,110 $ 374,239
Schedule of risk category of loans by class of loans based on the most recent analyses performed	(Dollars in Thousands) Pass Special Substandard Doubtful Total March 31, 2018 Commercial $ 57,944 $ — $ 899 $ — $ 58,843 Commercial real estate: Construction 45,146 — — — 45,146 Other 193,635 — 2,196 — 195,831 Residential real estate 85,192 — 101 — 85,293 Consumer: Auto 1,116 — — — 1,116 Other 2,697 — 9 — 2,706 Total $ 385,730 $ — $ 3,205 $ — $ 388,935 (Dollars in Thousands) Pass Special Substandard Doubtful Total December 31, 2017 Commercial $ 60,306 $ — $ 915 $ — $ 61,221 Commercial real estate: Construction 44,391 — — — 44,391 Other 178,462 703 3,278 — 182,443 Residential real estate 82,148 55 27 — 82,230 Consumer: Auto 1,184 — — — 1,184 Other 2,762 — 8 — 2,770 Total $ 369,253 $ 758 $ 4,228 $ — $ 374,239

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Measurements
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements at: (Dollars in Thousands) (Dollars in Thousands) March 31, 2018 December 31, 2017 Quoted Significant Significant Quoted Significant Significant Assets: Securities available-for-sale U. S. government agencies and government sponsored entities — $ 8,329 — — $ 1,977 — Agency mortgage-backed securities-residential — 17,862 — — 25,811 — State and municipal — 18,293 — — 19,388 — Trust preferred security — — 1,560 — — 1,440 Corporate bonds — — — — — — Total investment securities $ — $ 44,484 $ 1,560 $ — $ 47,176 $ 1,440
Schedule of reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3)	Trust Preferred Security 2018 2017 Balance of recurring Level 3 assets at January 1 $ 1,440 $ 1,240 Total gains or (losses) for the period included in other comprehensive income 120 20 Balance of recurring Level 3 assets at March 31 $ 1,560 $ 1,260
Schedule of carrying amount and estimated fair values of financial instruments	Fair Value Measurements at March 31, 2018 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 6,303 $ 6,303 $ — $ — $ 6,303 Interest-bearing deposits in other financial institutions 22,962 22,962 — — 22,962 Available-for-sale-securities 46,044 — 44,484 1,560 46,044 Loans, net of allowance 384,242 — — 377,620 377,620 Loans held for sale 570 — 579 — 579 Accrued interest receivable 1,518 11 230 1,277 1,518 Federal Home Loan Bank stock 2,065 — — — N/A Financial Liabilities Demand and savings deposits $ 237,613 $ 237,613 $ — $ — $ 237,613 Time deposits 148,895 — 146,865 — 146,865 FHLB advances 47,000 — 46,638 — 46,638 Subordinated debentures 5,000 — — 2,543 2,543 Accrued interest payable 328 15 270 43 328 Fair Value Measurements at December 31, 2017 Carrying Level 1 Level 2 Level 3 Total Financial Assets Cash and cash equivalents $ 6,444 $ 6,444 $ — $ — $ 6,444 Interest-bearing deposits in other financial institutions 13,532 13,532 — — 13,532 Available-for-sale-securities 48,616 — 47,176 1,440 48,616 Loans, net of allowance 369,515 — — 367,159 367,159 Loans held for sale 427 — 435 — 435 Accrued interest receivable 1,681 18 234 1,429 1,681 Federal Home Loan Bank stock 2,053 — — — N/A Financial Liabilities Demand and savings deposits $ 228,346 $ 228,346 $ — $ — $ 228,346 Time deposits 143,968 — 142,440 — 142,440 FHLB advances 40,000 — 39,776 — 39,776 Subordinated debentures 5,000 — — 2,543 2,543 Accrued interest payable 285 14 232 39 285

Regulatory Capital Matters (Tab

Regulatory Capital Matters (Tables)	3 Months Ended
	Mar. 31, 2018
Regulatory Capital Matters
Schedule of the Company's and the Bank's actual capital amounts and ratios	(Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions March 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 53,002 12.85 % $ 32,993 8.00 % N/A N/A Citizens First Bank, Inc. 52,039 12.63 % 32,967 8.00 % $ 41,209 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 47,264 11.71 % 24,745 6.00 % N/A N/A Citizens First Bank, Inc. 47,346 11.49 % 24,726 6.00 % 32,967 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 43,309 10.50 % 18,558 4.50 % N/A N/A Citizens First Bank, Inc. 47,346 11.49 % 18,544 4.50 % 26,786 6.50 % Tier I Leverage Capital to average assets Consolidated 48,309 10.23 % 18,882 4.00 % N/A N/A Citizens First Bank, Inc. 47,346 10.04 % 18,870 4.00 % 23,587 5.0 % (Dollars in Thousands) To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes (1) Action Provisions December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets) Consolidated $ 51,988 13.07 % $ 31,823 8.00 % N/A N/A Citizens First Bank, Inc. 51,112 12.86 % 31,802 8.00 % $ 39,753 10.00 % Tier I Capital (to Risk-Weighted Assets) Consolidated 47,264 11.88 % 23,867 6.00 % N/A N/A Citizens First Bank, Inc. 46,388 11.67 % 23,852 6.00 % 31,802 8.00 % Common Equity Tier I Capital (to Risk-Weighted Assets) Consolidated 42,502 10.68 % 17,900 4.50 % N/A N/A Citizens First Bank, Inc. 46,388 11.67 % 17,889 4.50 % 25,839 6.50 % Tier I Leverage Capital to average assets Consolidated 47,264 10.31 % 18,343 4.00 % N/A N/A Citizens First Bank, Inc. 46,388 10.14 % 18,301 4.00 % 22,876 5.0 % (1) When fully phased-in on January 1, 2019, Basel III Capital Rules will require banking organizations to maintain: a minimum ratio of common equity Tier 1 to risk-weighted assets of at least 4.5%, plus a 2.5% “capital conservation buffer”; a minimum ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer; a minimum ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer; and a minimum ratio of Tier 1 capital to adjusted average consolidated assets of at least 4.0%.

Nature of Operations and Summ21

Nature of Operations and Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle
Service charges on deposit accounts	$ 298	$ 278
Debit card interchange income	197
Non-deposit brokerage fees	99	$ 87
Cumulative effect	$ 14,162		$ 13,142
Statutory rate (as a percent)	21.00%
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle
Cumulative effect	$ 0

Available-For-Sale Securities -

Available-For-Sale Securities - Amortized Cost and Fair Value with Gross Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	$ 47,188	$ 49,292
Gross Unrealized Gains	77	157
Gross Unrealized Losses	(1,221)	(833)
Fair value of securities	46,044	48,616
U. S. government agencies and government sponsored entities
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	8,464	1,998
Gross Unrealized Gains	9
Gross Unrealized Losses	(144)	(21)
Fair value of securities	8,329	1,977
Agency mortgage-backed securities: residential
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	18,336	26,024
Gross Unrealized Gains		14
Gross Unrealized Losses	(474)	(227)
Fair value of securities	17,862	25,811
State and municipal
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	18,498	19,381
Gross Unrealized Gains	68	143
Gross Unrealized Losses	(273)	(136)
Fair value of securities	18,293	19,388
Trust preferred security
Amortized cost and fair value of the available for sale investment securities portfolio
Amortized Cost	1,890	1,889
Gross Unrealized Losses	(330)	(449)
Fair value of securities	$ 1,560	$ 1,440

Available-For-Sale Securities23

Available-For-Sale Securities - Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Amortized Cost
Due in one year or less	$ 1,572
Due from one to five years	10,560
Due from five to ten years	12,032
Due after ten years	4,688
Agency mortgage-backed: residential	18,336
Amortized Cost	47,188	$ 49,292
Fair Value
Due in one year or less	1,570
Due from one to five years	10,479
Due from five to ten years	11,861
Due after ten years	4,272
Agency mortgage-backed: residential	17,862
Fair Value	$ 46,044	$ 48,616

Available-For-Sale Securities24

Available-For-Sale Securities - Investment Securities with Unrealized Losses by Investment Category (Details) item in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Investment holdings
Fair Value, Less than 12 Months	$ 30,261	$ 26,068
Unrealized Losses, Less than 12 Months	(649)	(229)
Fair Value, 12 Months or More	7,284	8,465
Unrealized Losses, 12 Months or More	(572)	(604)
Fair Value, Total	37,545	34,533
Unrealized Losses, Total	$ (1,221)	(833)
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	4,602
Unrealized Losses, Less than 12 Months	(82)
Fair Value, 12 Months or More	1,764	1,977
Unrealized Losses, 12 Months or More	(62)	(21)
Fair Value, Total	6,366	1,977
Unrealized Losses, Total	(144)	(21)
Agency mortgage-backed securities: residential
Investment holdings
Fair Value, Less than 12 Months	14,180	17,798
Unrealized Losses, Less than 12 Months	(325)	(113)
Fair Value, 12 Months or More	3,678	4,754
Unrealized Losses, 12 Months or More	(149)	(114)
Fair Value, Total	17,858	22,552
Unrealized Losses, Total	(474)	(227)
State and municipal
Investment holdings
Fair Value, Less than 12 Months	11,479	8,270
Unrealized Losses, Less than 12 Months	(242)	(116)
Fair Value, 12 Months or More	282	294
Unrealized Losses, 12 Months or More	(31)	(20)
Fair Value, Total	11,761	8,564
Unrealized Losses, Total	(273)	(136)
Trust preferred security
Investment holdings
Fair Value, 12 Months or More	1,560	1,440
Unrealized Losses, 12 Months or More	(330)	(449)
Fair Value, Total	1,560	1,440
Unrealized Losses, Total	$ (330)	$ (449)

Loans and Allowance for Loan 25

Loans and Allowance for Loan Losses - Loans By Category (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Categories of loans
Total loans	$ 388,935	$ 374,239
Less Allowance for loan losses	(4,693)	(4,724)	$ (4,906)	$ (4,854)
Net Loans	384,242	369,515
Commercial
Categories of loans
Total loans	58,843	61,221
Less Allowance for loan losses	(617)	(633)	(665)	(615)
Commercial Real Estate
Categories of loans
Total loans	240,977	226,834
Less Allowance for loan losses	(3,475)	(3,515)	(3,640)	(3,628)
Residential Real Estate
Categories of loans
Total loans	85,293	82,230
Less Allowance for loan losses	(576)	(554)	(537)	(527)
Consumer
Categories of loans
Total loans	3,822	3,954
Less Allowance for loan losses	(10)	(10)	(13)	(14)
Unallocated
Categories of loans
Less Allowance for loan losses	(15)	(12)	$ (51)	$ (70)
Commercial | Commercial
Categories of loans
Total loans	58,843	61,221
Real estate | Residential Real Estate
Categories of loans
Total loans	85,293	82,230
Construction | Commercial Real Estate
Categories of loans
Total loans	45,146	44,391
Auto | Consumer
Categories of loans
Total loans	1,116	1,184
Other | Commercial Real Estate
Categories of loans
Total loans	195,831	182,443
Other | Consumer
Categories of loans
Total loans	$ 2,706	$ 2,770

Loans and Allowance for Loan 26

Loans and Allowance for Loan Losses - Allowance Roll-forward and Loans by Portfolio Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Dec. 31, 2017
Allowance for loan losses:
Beginning Balance	$ 4,724	$ 4,854
Provision (credit) for loan losses	30	30
Loans charged-off	(66)	(1)
Recoveries	5	23
Total ending allowance balance	4,693	4,906
Accrued interest receivable			$ 1,518	$ 1,681
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			53	45
Collectively evaluated			4,640	4,679
Total ending allowance balance	4,724	4,854	4,693	4,724
Loans:
Individually evaluated for impairment			2,223	1,484
Collectively evaluated			386,712	372,755
Loans and Leases Receivable, Gross, Total			388,935	374,239
Loans Receivable
Allowance for loan losses:
Interest receivable not included in recorded investment			1,300	1,400
Commercial
Allowance for loan losses:
Beginning Balance	633	615
Provision (credit) for loan losses	22	31
Loans charged-off	(38)
Recoveries		19
Total ending allowance balance	617	665
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			617	633
Total ending allowance balance	633	615	617	633
Loans:
Individually evaluated for impairment			1	2
Collectively evaluated			58,842	61,219
Loans and Leases Receivable, Gross, Total			58,843	61,221
Commercial Real Estate
Allowance for loan losses:
Beginning Balance	3,515	3,628
Provision (credit) for loan losses	(40)	12
Total ending allowance balance	3,475	3,640
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			46	45
Collectively evaluated			3,429	3,470
Total ending allowance balance	3,515	3,628	3,475	3,515
Loans:
Individually evaluated for impairment			2,060	1,393
Collectively evaluated			238,917	225,441
Loans and Leases Receivable, Gross, Total			240,977	226,834
Residential Real Estate
Allowance for loan losses:
Beginning Balance	554	527
Provision (credit) for loan losses	45	7
Loans charged-off	(27)
Recoveries	4	3
Total ending allowance balance	576	537
Allowance for loan losses, Ending allowance balance attributable to loans:
Individually evaluated for impairment			7
Collectively evaluated			569	554
Total ending allowance balance	554	527	576	554
Loans:
Individually evaluated for impairment			156	82
Collectively evaluated			85,137	82,148
Loans and Leases Receivable, Gross, Total			85,293	82,230
Consumer
Allowance for loan losses:
Beginning Balance	10	14
Provision (credit) for loan losses		(1)
Loans charged-off	(1)	(1)
Recoveries	1	1
Total ending allowance balance	10	13
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			10	10
Total ending allowance balance	10	14	10	10
Loans:
Individually evaluated for impairment			6	7
Collectively evaluated			3,816	3,947
Loans and Leases Receivable, Gross, Total			3,822	3,954
Unallocated
Allowance for loan losses:
Beginning Balance	12	70
Provision (credit) for loan losses	3	(19)
Total ending allowance balance	15	51
Allowance for loan losses, Ending allowance balance attributable to loans:
Collectively evaluated			15	12
Total ending allowance balance	$ 12	$ 70	15	12
Commercial | Commercial
Loans:
Loans and Leases Receivable, Gross, Total			58,843	61,221
Real estate | Residential Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			85,293	82,230
Construction | Commercial Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			45,146	44,391
Auto | Consumer
Loans:
Loans and Leases Receivable, Gross, Total			1,116	1,184
Other | Commercial Real Estate
Loans:
Loans and Leases Receivable, Gross, Total			195,831	182,443
Other | Consumer
Loans:
Loans and Leases Receivable, Gross, Total			$ 2,706	$ 2,770

Loans and Allowance for Loan 27

Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Unpaid Principal Balance
With no related allowance recorded	$ 2,102		$ 1,408
With an allowance recorded	121		76
Total	2,223		1,484
Recorded Investment
With no related allowance recorded	2,102		1,408
With an allowance recorded	121		76
Total	2,223		1,484
Allowance for Loan Losses Allocated
Total	53		45
Average Recorded Investment
Total	2,242	$ 4,756
Interest Income Recognized
Total	27	27
Cash Basis Interest Recognized
Total	2	24
Commercial
Average Recorded Investment
Total	1	159
Interest Income Recognized
Total		3
Cash Basis Interest Recognized
Total		3
Residential Real Estate
Average Recorded Investment
Total	157	1,244
Interest Income Recognized
Total	2	9
Cash Basis Interest Recognized
Total	1	8
Commercial | Commercial
Unpaid Principal Balance
With no related allowance recorded	1		2
Recorded Investment
With no related allowance recorded	1		2
Real estate | Residential Real Estate
Unpaid Principal Balance
With no related allowance recorded	109		82
With an allowance recorded	47
Recorded Investment
With no related allowance recorded	109		82
With an allowance recorded	47
Allowance for Loan Losses Allocated
Total	7
Other | Commercial Real Estate
Unpaid Principal Balance
With no related allowance recorded	1,986		1,317
With an allowance recorded	74		76
Recorded Investment
With no related allowance recorded	1,986		1,317
With an allowance recorded	74		76
Allowance for Loan Losses Allocated
Total	46		45
Average Recorded Investment
Total	2,078	3,331
Interest Income Recognized
Total	25	15
Cash Basis Interest Recognized
Total	1	13
Other | Consumer
Unpaid Principal Balance
With no related allowance recorded	6		7
Recorded Investment
With no related allowance recorded	6		$ 7
Average Recorded Investment
Total	$ 6	$ 22

Loans and Allowance for Loan 28

Loans and Allowance for Loan Losses - Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	$ 2,087	$ 1,344
Residential Real Estate
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	101	27
Other | Commercial Real Estate
Recorded investment in nonaccrual and loans past due over 90 days
Nonaccrual	$ 1,986	$ 1,317

Loans and Allowance for Loan 29

Loans and Allowance for Loan Losses - Aging of Past Due Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Aging of the recorded investment in past due loans
Total Past Due	$ 763	$ 129
Current	388,172	374,110
Loans and Leases Receivable, Gross, Total	388,935	374,239
Commercial
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	58,843	61,221
Commercial Real Estate
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	240,977	226,834
Residential Real Estate
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	85,293	82,230
Consumer
Aging of the recorded investment in past due loans
Loans and Leases Receivable, Gross, Total	3,822	3,954
Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due		9
Current	58,843	61,212
Loans and Leases Receivable, Gross, Total	58,843	61,221
Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	64	117
Current	85,229	82,113
Loans and Leases Receivable, Gross, Total	85,293	82,230
Construction | Commercial Real Estate
Aging of the recorded investment in past due loans
Current	45,146	44,391
Loans and Leases Receivable, Gross, Total	45,146	44,391
Auto | Consumer
Aging of the recorded investment in past due loans
Current	1,116	1,184
Loans and Leases Receivable, Gross, Total	1,116	1,184
Other | Commercial Real Estate
Aging of the recorded investment in past due loans
Total Past Due	698
Current	195,133	182,443
Loans and Leases Receivable, Gross, Total	195,831	182,443
Other | Consumer
Aging of the recorded investment in past due loans
Total Past Due	1	3
Current	2,705	2,767
Loans and Leases Receivable, Gross, Total	2,706	2,770
30 to 59 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	716	102
30 to 59 Days Past Due | Commercial | Commercial
Aging of the recorded investment in past due loans
Total Past Due		9
30 to 59 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	17	90
30 to 59 Days Past Due | Other | Commercial Real Estate
Aging of the recorded investment in past due loans
Total Past Due	698
30 to 59 Days Past Due | Other | Consumer
Aging of the recorded investment in past due loans
Total Past Due	1	3
60 to 89 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due	47
60 to 89 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due	$ 47
Over 90 Days Past Due
Aging of the recorded investment in past due loans
Total Past Due		27
Over 90 Days Past Due | Real estate | Residential Real Estate
Aging of the recorded investment in past due loans
Total Past Due		$ 27

Loans and Allowance for Loan 30

Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details)	3 Months Ended
	Mar. 31, 2018USD ($)loan	Mar. 31, 2017USD ($)loan	Mar. 31, 2016USD ($)	Dec. 31, 2017USD ($)
Loans and Allowance for Loan Losses
Total troubled debt restructurings	$ 1,400,000			$ 1,500,000
Commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings	$ 0
Number of loans reported as troubled debt restructurings | loan	7
Number of loans accruing that are classified as troubled debt restructurings | loan	5
Loans accruing that are classified as troubled debt restructurings	$ 135,000
Number of loans on nonaccrual status that are classified as troubled debt restructurings | loan	2
Loans on nonaccrual status that are classified as troubled debt restructurings	$ 1,300,000
Number of loans modified as troubled debt restructurings that occurred during the year | loan	0	0
Specific allocations reported for the troubled debt restructurings	$ 46,000	$ 194,000
Troubled debt restructurings charged off		0	$ 0
Total recorded investment for loans modified (other than through troubled debt restructuring)	$ 8,700,000	$ 7,700,000

Loans and Allowance for Loan 31

Loans and Allowance for Loan Losses - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Credit Quality Indicators
Minimum outstanding balance of loans to be reviewed on a monthly basis	$ 25
Total loans	388,935	$ 374,239
Pass
Credit Quality Indicators
Total loans	385,730	369,253
Special Mention
Credit Quality Indicators
Total loans		758
Substandard
Credit Quality Indicators
Total loans	3,205	4,228
Commercial | Commercial
Credit Quality Indicators
Total loans	58,843	61,221
Commercial | Commercial | Pass
Credit Quality Indicators
Total loans	57,944	60,306
Commercial | Commercial | Substandard
Credit Quality Indicators
Total loans	899	915
Real estate | Residential Real Estate
Credit Quality Indicators
Total loans	85,293	82,230
Real estate | Residential Real Estate | Pass
Credit Quality Indicators
Total loans	85,192	82,148
Real estate | Residential Real Estate | Special Mention
Credit Quality Indicators
Total loans		55
Real estate | Residential Real Estate | Substandard
Credit Quality Indicators
Total loans	101	27
Construction | Commercial Real Estate
Credit Quality Indicators
Total loans	45,146	44,391
Construction | Commercial Real Estate | Pass
Credit Quality Indicators
Total loans	45,146	44,391
Auto | Consumer
Credit Quality Indicators
Total loans	1,116	1,184
Auto | Consumer | Pass
Credit Quality Indicators
Total loans	1,116	1,184
Other | Commercial Real Estate
Credit Quality Indicators
Total loans	195,831	182,443
Other | Commercial Real Estate | Pass
Credit Quality Indicators
Total loans	193,635	178,462
Other | Commercial Real Estate | Special Mention
Credit Quality Indicators
Total loans		703
Other | Commercial Real Estate | Substandard
Credit Quality Indicators
Total loans	2,196	3,278
Other | Consumer
Credit Quality Indicators
Total loans	2,706	2,770
Other | Consumer | Pass
Credit Quality Indicators
Total loans	2,697	2,762
Other | Consumer | Substandard
Credit Quality Indicators
Total loans	$ 9	$ 8

Fair Value Measurements - Asset

Fair Value Measurements - Assets Measured on a Recurring and Nonrecurring Basis (Details) - USD ($)	3 Months Ended			12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Assets:
Securities available-for-sale	$ 46,044,000			$ 48,616,000
Fair value, assets measured on recurring basis, unobservable input reconciliation
Impaired loans	2,223,000			1,484,000
Other real estate owned		$ 0			$ 0
Principal balance of impaired loans	47,000			0
Valuation allowance	7,000			0
Increase in the provision for loan losses	7,000			0
Write-downs of other real estate owned		0	$ 0
U. S. government agencies and government sponsored entities
Assets:
Securities available-for-sale	8,329,000			1,977,000
Agency mortgage-backed securities: residential
Assets:
Securities available-for-sale	17,862,000			25,811,000
State and municipal
Assets:
Securities available-for-sale	18,293,000			19,388,000
Trust preferred security
Assets:
Securities available-for-sale	1,560,000			1,440,000
Level 2
Assets:
Securities available-for-sale	44,484,000			47,176,000
Level 3
Assets:
Securities available-for-sale	1,560,000			1,440,000
Recurring basis | Level 2
Assets:
Securities available-for-sale	44,484,000			47,176,000
Recurring basis | Level 2 | U. S. government agencies and government sponsored entities
Assets:
Securities available-for-sale	8,329,000			1,977,000
Recurring basis | Level 2 | Agency mortgage-backed securities: residential
Assets:
Securities available-for-sale	17,862,000			25,811,000
Recurring basis | Level 2 | State and municipal
Assets:
Securities available-for-sale	18,293,000			19,388,000
Recurring basis | Level 3
Assets:
Securities available-for-sale	1,560,000			1,440,000
Recurring basis | Level 3 | Trust preferred security
Assets:
Securities available-for-sale	1,560,000			1,440,000
Fair value, assets measured on recurring basis, unobservable input reconciliation
Recurring Level 3 assets, beginning of period balance	1,440,000	1,240,000		1,240,000
Losses for the period included in other comprehensive income	120,000	20,000
Recurring Level 3 assets, end of period balance	1,560,000	$ 1,260,000		$ 1,440,000
Residential Real Estate | Recurring basis | Level 3
Fair value, assets measured on recurring basis, unobservable input reconciliation
Recurring Level 3 assets, end of period balance	$ 40,000

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative and Qualitative Information of Level 3 Fair Value Measurements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Valuation techniques
Impaired loans	$ 2,223,000	$ 1,484,000
Other real estate owned			$ 0	$ 0
Commercial Real Estate | Sales Comparison | Weighted Average
Valuation techniques
Adjustment (as a percent)	15.00%
Non-recurring basis
Valuation techniques
Financial assets measured at fair value		$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amount and Estimated Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financial Assets
Interest-bearing deposits in other financial institutions	$ 22,962	$ 13,532
Available-for-sale securities	46,044	48,616
Loans, net of allowance	384,242	369,515
Accrued interest receivable	1,518	1,681
Federal Home Loan Bank stock	2,065	2,053
Financial Liabilities
Subordinated debentures	5,000	5,000
Accrued interest payable	328	285
Level 1
Financial Assets
Cash and cash equivalents	6,303	6,444
Interest-bearing deposits in other financial institutions	22,962	13,532
Accrued interest receivable	11	18
Financial Liabilities
Demand and savings deposits	237,613	228,346
Accrued interest payable	15	14
Level 2
Financial Assets
Available-for-sale securities	44,484	47,176
Loans held for sale	579	435
Accrued interest receivable	230	234
Financial Liabilities
Time deposits	146,865	142,440
FHLB advances	46,638	39,776
Accrued interest payable	270	232
Level 3
Financial Assets
Available-for-sale securities	1,560	1,440
Loans, net of allowance	377,620	367,159
Accrued interest receivable	1,277	1,429
Financial Liabilities
Subordinated debentures	2,543	2,543
Accrued interest payable	43	39
Carrying Amount
Financial Assets
Cash and cash equivalents	6,303	6,444
Interest-bearing deposits in other financial institutions	22,962	13,532
Available-for-sale securities	46,044	48,616
Loans, net of allowance	384,242	369,515
Loans held for sale	570	427
Accrued interest receivable	1,518	1,681
Federal Home Loan Bank stock	2,065	2,053
Financial Liabilities
Demand and savings deposits	237,613	228,346
Time deposits	148,895	143,968
FHLB advances	47,000	40,000
Subordinated debentures	5,000	5,000
Accrued interest payable	328	285
Total
Financial Assets
Cash and cash equivalents	6,303	6,444
Interest-bearing deposits in other financial institutions	22,962	13,532
Available-for-sale securities	46,044	48,616
Loans, net of allowance	377,620	367,159
Loans held for sale	579	435
Accrued interest receivable	1,518	1,681
Financial Liabilities
Demand and savings deposits	237,613	228,346
Time deposits	146,865	142,440
FHLB advances	46,638	39,776
Subordinated debentures	2,543	2,543
Accrued interest payable	$ 328	$ 285

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Basic earnings per share:
Net income	$ 1,084	$ 907
Less: Dividends on preferred stock during the quarter		(119)
Net income available for common stockholders	$ 1,084	$ 788
Weighted Average Shares, basic
Weighted Average Shares, basic	2,526,377	2,012,126
Weighted Average Shares, diluted
Net income available to common stockholders and assumed conversions	$ 1,084	$ 907
Weighted Average Shares, diluted	2,541,370	2,548,149
Per Share Amount
Basic earnings per common share (in dollars per share)	$ 0.43	$ 0.39
Diluted earnings per common share (in dollars per share)	$ 0.43	$ 0.36
Diluted earnings per share
Net income available to common stockholders and assumed conversions	$ 1,084	$ 907
Convertible preferred stock
Basic earnings per share:
Net income		$ 119
Weighted Average Shares, diluted
Weighted Average Shares, diluted		527,901
Performance share units
Weighted Average Shares, diluted
Weighted Average Shares, diluted	14,993	8,122

Regulatory Capital Matters (Det

Regulatory Capital Matters (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Regulatory capital matters
Number of classifications for prompt corrective action regulations | item	5
Capital conservation buffer (as a percent)	1.875%
Tier one risk based minimum required capital conservation	2.50%
Total Capital (to Risk-Weighted Assets)
Actual, Amount	$ 53,002	$ 51,988
For Capital Adequacy Purposes, Amount	$ 32,993	$ 31,823
Total Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	12.85%	13.07%
For Capital Adequacy Purposes, Ratio (as a percent)	8.00%	8.00%
Tier I Capital (to Risk-Weighted Assets)
Actual, Amount	$ 47,264	$ 47,264
For Capital Adequacy Purposes, Amount	$ 24,745	$ 23,867
Tier I Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.71%	11.88%
For Capital Adequacy Purposes, Ratio (as a percent)	6.00%	6.00%
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual Amount	$ 43,309	$ 42,502
For Capital Adequacy Purposes, Amount	$ 18,558	$ 17,900
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	10.50%	10.68%
For Capital Adequacy Purposes, Ratio (as a percent)	4.50%	4.50%
Tier I Leverage Capital to Average Assets
Actual, Amount	$ 48,309	$ 47,264
For Capital Adequacy Purposes, Amount	$ 18,882	$ 18,343
Tier I Capital (to Average Assets)
Actual, Ratio (as a percent)	10.23%	10.31%
For Capital Adequacy Purposes, Ratio (as a percent)	4.00%	4.00%
Citizens First Bank, Inc.
Total Capital (to Risk-Weighted Assets)
Actual, Amount	$ 52,039	$ 51,112
For Capital Adequacy Purposes, Amount	32,967	31,802
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 41,209	$ 39,753
Total Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	12.63%	12.86%
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	$ 47,346	$ 46,388
For Capital Adequacy Purposes, Amount	24,726	23,852
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 32,967	$ 31,802
Tier I Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.49%	11.67%
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	$ 47,346	$ 46,388
For Capital Adequacy Purposes, Amount	18,544	17,889
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 26,786	$ 25,839
Common Equity Tier 1 Capital (to Risk-Weighted Assets)
Actual, Ratio (as a percent)	11.49%	11.67%
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	$ 47,346	$ 46,388
For Capital Adequacy Purposes, Amount	18,870	18,301
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 23,587	$ 22,876
Tier I Capital (to Average Assets)
Actual, Ratio (as a percent)	10.04%	10.14%
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%