Our Impact In Low Wealth Communities

As a dedicated community development bank, City First specializes in making the difficult loans that others cannot or will not make.  City First borrowers, often small investors or emerging business operators, frequently tell us they were turned down by as many as ten other banks before coming to City First.  Our lending team is unsurpassed at finding creative ways to extend credit, generate capital to start or expand a business, or deliver needed goods and services in low-wealth communities. 

About 80% of the City First loan portfolio, which last year grew by over 15% to $123 million, is comprised of real estate and business loans for projects and businesses located in low- to moderate-income communities, primarily in the DC neighborhoods east of 16th Street and in Wards 5, 7 and 8.  In 2011, City First experienced a tremendous burst in loan volume, originating $47.2 million in new loans as compared to $18 million in 2010.  In 2011, our last full year of data, 71% of those loans went to work in low- to moderate-income census tracts, 80% fulfilled our community development mission, and 70% of small business loans went to companies with annual sales of less than $1 million.

As important as those statistics are, we also measure performance by impact:  How did loans originated by City First help the low-income communities we serve?  In 2011, City First financed 362 units of affordable housing. Our loans helped small businesses stay in business, creating or retaining 300 jobs.  And finally, our loans converted 157,844 vacant and unused square feet into useful and productive places to live and work.  Since 1999, City First financing has been responsible for building or preserving 4,780 units of affordable housing and retaining or creating 2,863 jobs.  Use the links below to examine the cumulative impact of our work over the past decade. 

Click here for the Loan Map

Click here for the Interactive Loan Location Map

Click here for the Affordable Housing units financed over the last 12 years.

Click here for the number of Jobs Created or Retained over the last 12 years

Click here to read some of our Success Stories.

NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html

LEAVING WEBSITE NOTICE
Please be aware that you are leaving www.cityfirstbank.com and will be redirected to a third party web site. City First Bank of DC has no control over information at any third party site accessed. City First Bank of DC makes no representation and is not responsible for the quality, content, nature, or reliability of any linked site. The inclusion of any link does not imply endorsement, investigation, verification or monitoring by City First Bank of DC. In no event shall City First Bank of DC be responsible for your use of a third party site.