City First DC

What City First DC does

City First Bank, N.A. is a federally chartered national bank and the operating subsidiary of Broadway Financial Corporation (NASDAQ: BYFC), headquartered at 1432 U Street NW in Washington, D.C., with additional branches in Los Angeles (Wilshire, Exposition Park, Inglewood). Founded in 1998 (with roots in a 1947 predecessor, Broadway Federal Savings and Loan), the bank operates as a Certified Community Development Financial Institution (CDFI), Certified B Corporation, Public Benefit Corporation, and Minority Depository Institution, and is a member of the Global Alliance for Banking on Values. After the 2021 merger with Broadway Federal Bank, it became the largest Black-led MDI in the United States, holding more than $1.3 billion in total assets and $1.1 billion in deposits as of Q1 2026.

The bank offers a full commercial and consumer platform: commercial and business checking, savings, treasury management, term loans, commercial real estate loans, SBA-guaranteed loan pathways, and green lending through the PACE program, supplemented by personal checking, savings, credit cards, and Zelle-enabled digital banking via iOS/Android apps with 24/7 account access and mobile check deposit. Underlying technology is described as a standard commercial banking stack with web and mobile channels, SSL-encrypted communications, and a formalized cybersecurity governance framework; no proprietary AI/ML systems are disclosed. More than 75% of lending is directed to mission-focused areas including affordable housing (3,900+ units preserved/created), education (4,300+ students served), healthcare (125,200+ patients served), and small business lending that has created or retained 4,000+ jobs.

Revenue mechanics are typical of a commercial bank: primary net interest income from the lending portfolio (NIM of 2.91% in Q1 2026), recurring deposit service fees, transaction-based loan origination fees, and professional services revenue tied to New Markets Tax Credit allocations ($548M historically deployed; $75M awarded January 2026). Distribution combines four physical branches with a digital banking platform and 100,000+ ATM access, paired with relationship-based direct sales into affordable housing developers, nonprofits, charter schools, healthcare providers, and small businesses, plus mission-aligned institutional deposit partnerships (e.g., Bank of America $100M in 2022 and CFG Bank $1.45B in 2025) that have supported a 16.9% year-over-year deposit growth in Q1 2026.

Name

City First DC

Legal name

City First Bank, N.A.

Website

https://cityfirstbank.com

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

51–100 employees

Short description

City First Bank, N.A. is a federally chartered CDFI and Public Benefit Corporation headquartered in Washington, D.C., that provides commercial and consumer banking, lending, and treasury services to affordable housing developers, nonprofits, small businesses, charter schools, and healthcare providers in underinvested communities across the D.C., Los Angeles, and Mid-Atlantic markets.

Ownership category

akta.pro rank

Product category

Community Development Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industries

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community development banking
• Affordable housing finance
• Mission-driven lending
• Small business banking
• Commercial treasury services

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Interest income from commercial lending portfolio including term loans, commercial real estate loans, SBA-guaranteed loans, and green lending through PACE program. Core revenue driver representing spread between lending rates and cost of deposits/borrowed funds.
2. Deposit Services: Fee income from commercial and personal deposit accounts, checking, savings, treasury management, and digital banking services
3. Loan Fees and Service Charges: Origination fees, commitment fees, and other loan-related service charges from commercial lending activities
4. New Markets Tax Credit Program: Tax credit allocations from CDFI Fund enabling community development investments in underinvested areas for education and healthcare

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels9 records

Core offering

City First Bank is a mission-driven commercial bank that delivers commercial and personal banking products (checking, savings, credit cards, treasury management) alongside specialized financing such as term loans, commercial real estate loans, SBA-guaranteed pathways, and green lending through the PACE program. More than 75% of its lending portfolio is directed toward affordable housing developers, nonprofits, charter schools, small businesses, and community facilities in historically underinvested communities of Washington D.C. and Los Angeles. Banking services are delivered through four physical branches and a 24/7 online and mobile banking platform supported by access to over 100,000 ATMs nationwide.

Product overview

City First Bank is a mission-driven community development financial institution (CDFI) offering a comprehensive platform of banking products and services. The core offering includes commercial and business banking products (checking, savings, lending, treasury management) and personal banking (checking, savings, credit cards). The bank specializes in mission-driven financing with 70%+ of lending directed to affordable housing, nonprofits, small businesses, and community facilities in underinvested communities. Digital banking services provide 24/7 online and mobile access including mobile check deposit. The bank's affiliated network includes City First Enterprises, Homes By CFE, and City First Foundation, representing a robust lending and deposit platform serving Washington D.C. and Los Angeles markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Checking Products Commercial checking accounts designed for businesses and organizations, providing transaction capabilities, treasury features, and banking services for commercial operations.
• Commercial Savings Products Savings account options for commercial customers to deposit and grow business funds with competitive rates.
• Commercial Lending Products Customized financing solutions for businesses, community-based nonprofits, and affordable housing developers including term loans, commercial real estate loans, SBA-guaranteed pathways, and green lending through the PACE program.
• Commercial Treasury Products Treasury management services for commercial customers including cash management, deposit growth, and client experience enhancement, supported by the Chief Deposit Officer-led team.
• Business Checking Products Checking account solutions tailored for businesses of various sizes with tools for managing business finances.
• Business Credit Card Credit card offerings for business customers to manage expenses and build business credit.
• Business Digital Banking Online and mobile banking platform providing 24/7 account access for business customers, including mobile check deposit and Digital One Business self-service enrollment.
• Personal Checking Products Checking account options for individual consumers with various features and benefits, including no-fee options available for certain account types.
• Personal Savings Products Savings account options for personal banking customers with published deposit rates.
• Personal Credit Cards Credit card products for individual consumers.
• Personal Digital Banking Online and mobile banking for personal customers with 24/7 availability including mobile check deposit, available via iOS and Android apps with Zelle consumer integration.
• Green Lending (PACE Program) Property Assessed Clean Energy (PACE) financing for environmentally sustainable projects and energy improvements on commercial real estate.
• SBA-Guaranteed Loan Pathways Small Business Administration guaranteed loans supporting small business access to capital for qualified borrowers.
• Affordable Housing Financing Financing for affordable housing developers and investors in underinvested neighborhoods, delivered as construction loans, permanent financing, and New Markets Tax Credit transactions.
• Nonprofit Community Facility Financing Commercial lending, deposit services, treasury management, and grant funding coordination for community-based nonprofits operating in low-to-moderate income communities.
• Deposit Rates Services Deposit rate information and account products including checking, savings, and time deposit accounts with published rates.

Quantifiable outcome

• More than $1 billion in capital deployed 2021-2025, with 75% to mission-focused areas
• +6 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered minor, core and flagship.

• Desmond MarshallminorStrategic or Co-development Partner · 26 January 2026New member of NMTC Advisory Council. Leader in community development in Chicago with track record of growing mission-driven organizations.
• Dr. Marla DeanminorStrategic or Co-development Partner · 26 January 2026New member of NMTC Advisory Council. Leader in nonprofit strategy in Washington D.C. with deep knowledge in education and next-generation economic mobility models.
• Justin JenningscoreOthers · 20 October 2025Appointed as Executive Vice President and Chief Deposit Officer for City First Bank, bringing extensive experience from JPMorgan Chase & Co and Columbia Bank. Focused on deposit growth, treasury management, digital banking, and client experience.
• M&T BankminorStrategic or Co-development Partner · 17 November 2023Agency correspondent relationship enabling expanded lending capabilities and capital markets access.
• Broadway Federal BankflagshipStrategic or Co-development Partner · 1 January 2021Historic merger joining Broadway Federal Bank (Los Angeles, founded 1947) with City First Bank (Washington DC, founded 1998). Formed one of the largest mission-driven banks in the country under City First Bank name.
• Global Alliance for Banking on Values (GABV)coreStrategic or Co-development PartnerMember of international network of banks committed to using finance to drive sustainable economic, social, and environmental development. Champions values-based banking putting people and communities first.
• IntraFi NetworkminorStrategic or Co-development PartnerBrian Argrett serves on Board of Directors of IntraFi Network.
• California Bankers AssociationminorStrategic or Co-development PartnerBrian Argrett serves on Board of Directors of California Bankers Association.
• Community Development Bankers AssociationcoreStrategic or Co-development PartnerBrian Argrett is past Chairman and continues to serve on Board of Directors. Organization advocates for community development banks.
• Expanding Black Business Credit InitiativeminorStrategic or Co-development PartnerBrian Argrett serves on Board of initiative to expand credit access for Black-owned businesses.
• City First EnterprisescoreStrategic or Co-development PartnerCDFI Loan Fund and part of City First branded family of community development financial institutions. Brian Argrett serves as Chairman of Board.
• Homes By CFEcoreStrategic or Co-development PartnerPart of City First branded family of community development financial institutions offering housing development capabilities.
• City First FoundationcoreStrategic or Co-development PartnerPart of City First branded family of community development financial institutions for philanthropic and community investment activities.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Capital One Financial: Capital One is a major commercial bank with significant presence in the DC metro area (former Capital One Bank executives now lead City First Bank's commercial banking team). It represents the broad incumbent competitor landscape that City First Bank's mission focus differentiates against.

Direct peers

• National Cooperative Bank: National Cooperative Bank is a cooperatively-owned community development bank serving cooperative businesses and mission-aligned organizations. It is comparable to City First Bank as a community-focused bank serving mission-driven clients with relationship-based commercial banking.
• Amalgamated Bank: Amalgamated Bank is a Public Benefit Corporation and B Corp-certified commercial bank focused on progressive, mission-aligned clients, labor unions, and nonprofit organizations. It is the most direct comparable to City First Bank given its similar PBC/B Corp structure, commercial banking focus, and values-driven mission.
• Beneficial State Bank: Beneficial State Bank is a B Corp-certified, community development bank operating in California, Oregon, and Washington. It is closely comparable to City First Bank as a similarly mission-driven, certified B Corp institution focused on community development lending and serving underinvested communities.
• OneUnited Bank: OneUnited Bank is the largest Black-owned bank in the United States, serving urban communities with a mission-driven focus. It is directly comparable to City First Bank as a fellow Black-led MDI focused on community development in urban markets.
• Industrial Bank: Industrial Bank is a Black-owned commercial bank headquartered in Washington DC, serving the metropolitan area for over 85 years. It is a direct peer given its overlapping DC geography, MDI designation, and mission focus on African American and underserved communities.
• Wainwright Bank & Trust (Eastern Bank): Eastern Bank (formerly Wainwright Bank) is a Massachusetts-based community bank historically known for values-driven banking and mission focus. It serves as a comparable peer in community banking with social impact orientation, though larger in scale than City First Bank.
• Carver Federal Savings Bank: Carver Federal Savings Bank is a Black-led Minority Depository Institution based in New York City focused on serving low-to-moderate income communities. It directly competes with City First Bank as one of the few remaining Black-led MDIs serving mission-aligned community development customers.

Emerging players

• Hope Credit Union: Hope Credit Union is a CDFI credit union serving underinvested communities across the Deep South with similar mission focus on financial inclusion. It is comparable as a community development financial institution focused on low-income and minority communities, though operating as a credit union rather than a bank.
• Self-Help Federal Credit Union: Self-Help Federal Credit Union is a CDFI credit union focused on serving low-income and minority communities with branches across multiple states. It overlaps with City First Bank's CDFI mission and affordable housing focus but operates as a credit union rather than a commercial bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/cityfirstbank
• LinkedInlinkedin.com/company/city-first-bank-of-dc
• Instagraminstagram.com/cityfirstbank

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about City First DC