Citizens First Bank
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | July 1, 1991 |
| Founder | Harold Schwartz |
| Headquarters | The Villages , United States |
Area served | Central Florida |
Key people | Lindsey M. Blaise (President & CEO) |
| Products | Checking accounts, savings accounts, IRAs, CDs, credit cards, mortgage loans |
Number of employees | 364 (2021) |
| Parent | Villages Bancorporation, Inc. |
Citizens First Bank is a community-oriented financial institution based in The Villages, Florida, United States. Established on July 1, 1991, it maintained 14 branches throughout Central Florida as of 2021. The bank provides a variety of financial services, including checking accounts, savings accounts, IRAs, CDs, credit card offerings, and mortgage loan products. In 2021, its assets totaled $3.6 billion, supported by a workforce of 364 employees. Citizens First Bank operates as a subsidiary under Villages Bancorporation, Inc.
By 2018, the bank commanded a market share exceeding 51 percent within The Villages and ranked as the tenth largest banking institution in Florida by asset size. Its clientele largely consists of retirees and seasonal residents, reflecting a deliberate emphasis on this particular demographic. The bank is well-regarded for its commitment to excellent customer service and community-focused initiatives.
In May 2025, Seacoast Banking announced plans to acquire Villages Bancorporation—the parent company of Citizens First Bank—in a transaction valued at $710.8 million. This acquisition is anticipated to finalize later that year and represents a notable shift in the bank’s ownership and market positioning.
History
Initially launched as First Bank of the Villages in 1991, the institution adopted the name Citizens First Bank in 1998. Founded by Harold Schwartz, the visionary behind The Villages development, the bank was created to address the unique financial requirements of the local community. In 2001, its headquarters relocated from Lady Lake to The Villages, Florida. Since 2019, Lindsey M. Blaise—granddaughter of Villages founder Gary Morse—has held the position of President & CEO.
In 2017, Citizens First Bank divested its Leesburg branch to a real estate developer and moved operations to a new site while simultaneously announcing plans for an additional branch in Fruitland Park. The subsequent year saw further growth through the acquisition of a CBC National Bank branch located in The Villages with deposits totaling roughly $35 million; plans were also made for another branch near the Village of Fenney to expand its southern market footprint.
By 2019, the bank disclosed intentions to construct a new 45,000-square-foot headquarters facility in Wildwood, Florida, following the purchase of an 18-acre property for $3 million. Later that year, it announced the opening of a new branch in Ocala, Florida as part of its ongoing regional expansion strategy.
Proposed acquisition
In May 2025, Seacoast Banking Corp. revealed its agreement to purchase Villages Bancorporation (VBI), the parent entity of Citizens First Bank, for $710.8 million with closing expected in Q4 2025. Citizens First Bank holds more than half of all deposits within The Villages—Florida’s largest retirement community with approximately 150,000 residents. This transaction will incorporate 19 additional branches and $4.1 billion in assets into Seacoast’s portfolio, elevating total assets to $21 billion, deposits to $17 billion, and gross loans to $12 billion. The acquisition aligns with Seacoast’s strategy to strengthen its presence in Central Florida following its recent Heartland Bancshares purchase and is projected to increase earnings per share by 22% in 2026.
Structure
Owned by Villages Bancorporation, Inc., Citizens First Bank employed over 300 personnel across fourteen branches and operated more than 70 ATMs throughout Central Florida as of 2021. Its primary service area centers on The Villages community, supplemented by locations in Leesburg and Fruitland Park.
Other services
Citizens First Wealth Advisors provides the bank's clients with comprehensive wealth and investment management solutions.
Community involvement
Citizens First Bank demonstrates strong commitment to community support through various initiatives. These include collaborations with Habitat for Humanity, contributions to the Buffalo Scholarship Foundation, and sponsorship of local gatherings such as the Villages Charter School BBQ Bash and The Villages Relay for Life. Since its inception in 2009, the Fraud Busters program has successfully averted nearly $1 million in fraudulent losses for customers. In 2018, the bank supported a Habitat for Humanity housing project in Lady Lake, Florida. Additionally, amid the 2020 COVID-19 pandemic, Citizens First secured $105 million in Paycheck Protection Program financing to assist area small businesses.
Awards
In 2019, Citizens First Bank earned a prestigious five-star rating from Bauer Financial, a rating firm based in Coral Gables, Florida.
By May 2020, the bank achieved the 24th position among institutions with assets exceeding $1 billion in the Independent Community Bankers of America’s Best of the Best rankings.
Furthermore, in June 2020, DepositAccounts.com recognized Citizens First Bank as one of the Top 200 Healthiest Banks for that year.