8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 11, 2008

CITIZENS FIRST BANCORP, INC.

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation) 0-32041
(Commission
File Number) 38-3573852
(IRS Employer
Identification No.)

525 Water Street, Port Huron, Michigan
(Address of principal executive offices) 48060
(Zip Code)

Registrant’s telephone number, including area code: (810) 987-8300

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))Dear Shareholder,

TABLE OF CONTENTS

	Item 7.01. Regulation FD Disclosure.
	Item 9.01. Financial Statements and Exhibits
SIGNATURE
Exhibit Index
EX-99

Item 7.01. Regulation FD Disclosure.

     On September 11, 2008, Registrant mailed a letter to its shareholders addressing certain market and economic conditions that are currently affecting its operations, as well as other related matters. The letter to Registrant’s shareholders is furnished herewith as Exhibit No. 99 and incorporated herein by reference.

     Certain statements contained herein are not based on historical facts and are “forward-looking statements” within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements which are based on various assumptions (some of which are beyond the Registrant’s control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “expect,” “estimate,” “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the Registrant operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, change in the financial and securities markets, including changes with respect to the market value of our financial assets, the availability of and costs associated with sources of liquidity, and the ability of the Registrant to resolve or dispose of problem loans. The Registrant undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

Item 9.01. Financial Statements and Exhibits

(a)	Not applicable
(b)	Not applicable
(c)	Not applicable
(d)	Exhibits
	The following exhibits are furnished herewith:

Number	Exhibit
99	Letter to Shareholders of Citizens First Bancorp, Inc.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized

	CITIZENS FIRST BANCORP, INC.
Date: September 12, 2008
	By:	/s/ Marshall J. Campbell
		Marshall J. Campbell
		Chairman, President and Chief Executive Officer

Exhibit Index

Exhibit
Number	Description of Exhibit
99	Letter to Shareholders of Citizens First Bancorp, Inc.

EX-99

EXHIBIT 99

Dear Shareholder,

     Our nation’s credit and mortgage crisis, along with a depressed Michigan economy contributing to high unemployment rates in our state and more specifically in our immediate service area, have proven to be difficult. As has been widely reported, the entire banking industry has faced significant problems throughout this downturn in the economic cycle.

     The main concern of the banking industry today is credit quality. Since August of 2007, which marked the beginning of the national mortgage and credit crisis, Citizens First’s non-performing loans have increased by 46.7%. By June 30, 2008, Citizens First had proactively placed an additional $10,450,000.00 in loan loss reserves. The additional reserves, while necessary, contributed to our 2^nd quarter loss of $4,092,000.00.

     Citizens First have taken two major steps to preserve our capital base as we navigate through these unprecedented times. First, using our available resources we infused $4,000,000 of additional capital into our banking subsidiary, Citizens First Savings Bank. Second, we, as many other banks have already done, temporarily suspended the payment of dividends. This decision, while difficult, is made in the best interests of our shareholders, because it will permit the bank to retain approximately $2.9 million of capital over the next year. As economic conditions improve, and Citizens First returns to a normalized level of profitability, we fully expect to reinstate dividends to our shareholders.

     Although we believe the national housing markets and the Michigan economy will continue to be difficult through 2008 and into 2009, we are beginning to identify signs of improvement. Local property values are beginning to stabilize. Through August of 2008, our property management company, Coastal Equity Partners (coastalequity partners.com) has sold 39% of all real-estate owned taken into inventory since the LLC was formed in 2007. The loan concentrations in our builder direct portfolio, which consist of single family homes, have decreased by 68% since March 2007, and delinquencies in consumer and home mortgage loans have decreased since February 2008.

     Most importantly Citizens First is continuing its important role as a community focused bank. The real tragedies during these times are the families that have lost or will lose their homes. In the past year we, at Citizens First, have worked with over 400 families in their efforts to save their homes. Our commitment to the communities we serve is our foundation and will continue to be a vital part of our strength as we all emerge from these economic times.

     We thank you for your support and understanding. Should you have questions or desire additional information, please refer to our June 30, 2008 Form 10Q in the Investor Relations section of our website at www.cfsbank.com or call me directly at (810) 985-0494.

Sincerely/MJC, CEO