Citizens State Bank Mortgage Rates, Fees & Info

Cadott, WI

LEI: 254900JU2DYRJVDHMG47

Tax ID: 39-0210140

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Citizens State Bank is a smaller bank specializing in Home Purchase loans. Citizens State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Eau Claire, Minneapolis, Baraboo, and Menomonie among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Citizens State Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

102

Origination Dollar Volume (All Markets)

$15,050,000

Employee count

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
EAU CLAIRE, WI (FHA\|USDA\|VA)	91	$13,145,000	$144,451	$0	0.00%
Outside of Metro Areas	6	$1,150,000	$191,667	$0	0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	3	$535,000	$178,333	$0	0.00%
Baraboo, WI (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	0.00%
Menomonie, WI (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	0.00%

Citizens State Bank's top markets include Eau Claire, Minneapolis, Baraboo, and Menomonie among others.

Their top states include:

Wisconsin (FHA|USDA|VA)

Minnesota (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Citizens State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Prevail Bank
Similarity Rank: 27

United Bank a division of Citizens Community Federal N A
Similarity Rank: 44

CO-OP Credit Union
Similarity Rank: 144

WESTconsin Credit Union
Similarity Rank: 270

Royal Credit Union
Similarity Rank: 630

Citizens Community Federal
Similarity Rank: 690

Merchants Bank
Similarity Rank: 696

Associated Bank
Similarity Rank: 780

American Mortgage & Equity Consultants, Inc.
Similarity Rank: 833

Bankers' Bank
Similarity Rank: 990

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	102	$15,050,000	$147,549	$0	0.00%

For 2018, Citizens State Bank's most frequently originated type of loan was Conventional, with 102 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	62	$10,710,000	$172,742	$0	0.00%
Refi	17	$2,065,000	$121,471	$0	0.00%
Cash Out Refi	15	$1,735,000	$115,667	$0	0.00%
Other	6	$470,000	$78,333	$0	0.00%
Home Improvement	2	$70,000	$35,000	$0	0.00%

For 2018, Citizens State Bank's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Refi, with 17 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	102	$15,050,000	$147,549	$0	0.00%

For 2018, Citizens State Bank's most frequently cited loan duration was Other, with 102 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	41	$5,745,000	$140,122	$0	0.00%
$100,000 or less	34	$2,260,000	$66,471	$0	0.00%
$200k-400k	26	$6,630,000	$255,000	$0	0.00%
$400k-600k	1	$415,000	$415,000	$0	0.00%

2018 saw Citizens State Bank place emphasis on $100k-200k loans with 41 originations, totaling $5,745,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$75k-100k	29	$4,855,000	$167,414	$0	0.00%
$50k-75k	24	$3,160,000	$131,667	$0	0.00%
$100k-150k	20	$4,140,000	$207,000	$0	0.00%
$50k or less	18	$1,480,000	$82,222	$0	0.00%
$150k-250k	7	$915,000	$130,714	$0	0.00%
$250k+	1	$55,000	$55,000	$0	0.00%

Citizens State Bank lent most frequently to those with incomes in the $75k-100k range, with 29 originations. The second most popular income band? $50k-75k, with 24 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	102	$15,050,000	$147,549	$0	0.00%

Citizens State Bank lent most frequently to those with DTI ratios of Exempt%, with 102 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	98	$14,380,000	$146,735	$0	0.00%
Not applicable	2	$410,000	$205,000	$0	0.00%
Asian	1	$155,000	$155,000	$0	0.00%
American Indian	1	$105,000	$105,000	$0	0.00%

Approval Rates

Total approvals of all applications
85.93%

Citizens State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.27%

Citizens State Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	102	$15,050,000	$147,549

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$45,000	$45,000
Single Family (1-4 Units):Manufactured	7	$735,000	$105,000
Single Family (1-4 Units):Site-Built	94	$14,270,000	$151,809

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	9	5.3%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Closing on a mortgage	5	2.9%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Improper use of your report	1	0.6%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Incorrect information on your report	1	0.6%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Problem with a credit reporting company's investigation into an existing problem	1	0.6%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Struggling to pay mortgage	16	9.4%
CITIZENS FINANCIAL GROUP, INC.	Conventional home mortgage	Trouble during payment process	36	21.1%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	2	1.2%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Closing on a mortgage	3	1.8%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Struggling to pay mortgage	8	4.7%
CITIZENS FINANCIAL GROUP, INC.	FHA mortgage	Trouble during payment process	3	1.8%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	9	5.3%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Closing on a mortgage	3	1.8%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Struggling to pay mortgage	7	4.1%
CITIZENS FINANCIAL GROUP, INC.	Home equity loan or line of credit (HELOC)	Trouble during payment process	41	24.0%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	2	1.2%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Closing on a mortgage	3	1.8%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Struggling to pay mortgage	4	2.3%
CITIZENS FINANCIAL GROUP, INC.	Other type of mortgage	Trouble during payment process	15	8.8%
CITIZENS FINANCIAL GROUP, INC.	VA mortgage	Struggling to pay mortgage	1	0.6%
CITIZENS FINANCIAL GROUP, INC.	VA mortgage	Trouble during payment process	1	0.6%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Citizens State Bank	15036 Cty Hwy S Chippewa Falls, WI 54729	Full Service B&M	$22,053
Citizens State Bank	17153 County Highway J Chippewa Falls, WI 54729	Full Service B&M	$16,536
Citizens State Bank	304 North Main Street Cadott, WI 54727	Full Service B&M	$59,457
Citizens State Bank	505 South Main Street Cadott, WI 54727	Full Service B&M	$0

For 2018, Citizens State Bank had 4 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$5,002
Net interest income	$4,288
Total noninterest income	$602
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$119
Trading account gains and fees	$0
Additional Noninterest Income	$483
Pre-tax net operating income	$1,069
Securities gains (or losses, -)	$0
Income before extraordinary items	$810
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$810
Minority interest net income	$0
Net income	$810
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$810

Citizens State Bank's gross interest income from loans was $5,002,000.
Citizens State Bank's net interest income from loans was $4,288,000.
Citizens State Bank's fee based income from loans was $119,000.
Citizens State Bank's net income from loans was $810,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$714
Provision for credit losses	$-47
Total noninterest expense	$3,868
Salaries and employee benefits	$2,553
Premises and equipment expense	$334
Additional noninterest expense	$981
Applicable income taxes	$259
Net charge-offs	$155
Cash dividends	$195

Citizens State Bank's interest expense for loans was $714,000.
Citizens State Bank's payroll and benefits expense were $2,553,000.
Citizens State Bank's property, plant and equipment expenses $334,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	2.0%
Real Estate loans	2.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	1.0%
HELOC loans	0.0%
All other family	1.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.7%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$104,442
Deposits held in domestic offices	$104,442
Deposits by Individuals, partnerships, and corporations	$89,959
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$14,483
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$45,963
Demand deposits	$20,188
Nontransaction accounts	$58,479
Money market deposit accounts (MMDAs)	$7,935
Other savings deposits (excluding MMDAs)	$22,865
Total time deposits	$27,679
Total time and savings deposits	$84,254
Noninterest-bearing deposits	$19,428
Interest-bearing deposits	$85,014
Retail deposits	$101,525
IRAs and Keogh plan accounts	$6,148
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$118,343
Cash & Balances due from depository institutions	$8,473
Interest-bearing balances	$5,501
Total securities	$23,178
Federal funds sold & reverse repurchase	$489
Net loans and leases	$83,279
Loan and leases loss allowance	$1,536
Trading account assets	$0
Bank premises and fixed assets	$2,029
Other real estate owned	$33
Goodwill and other intangibles	$0
All other assets	$862

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$118,343
Total Liabilities	$105,383
Total deposits	$104,442
Interest-bearing deposits	$85,014
Deposits held in domestic offices	$104,442
% insured (estimated)	$92
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$272
Subordinated debt	$0
All other liabilities	$669

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$83,279
Loan and leases loss allowance	$1,536
Total loans and leases (domestic)	$84,815
All real estate loans	$66,890
Real estate loans in domestic offices	$66,890
Construction and development loans	$4,786
Residential 1-4 family construction	$2,795
Other construction, all land development and other land	$1,991
Loans secured by nonfarm nonresidential properties	$24,370
Nonfarm nonresidential secured by owner-occupied properties	$18,009
Commercial real estate & other non-farm, non-residential	$6,361
Multifamily residential real estate	$907
1-4 family residential loans	$23,286
Farmland loans	$13,541
Loans held in foreign offices	$0
Farm loans	$3,494
Commercial and industrial loans	$7,558
To non-U.S. addressees	$0
Loans to individuals	$4,310
Credit card loans	$409
Related Plans	$0
Consumer Auto Loans	$3,696
Other loans to individuals	$205
All other loans & leases	$2,563
Loans to foreign governments and official institutions	$0
Other loans	$1,096
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$102
Non 1-4 family restructured loans & leases	$102
Total loans and leases (foreign)	$0

Citizens State Bank had $83,279,000 of loans outstanding in 2018. $66,890,000 of loans were in real estate loans. $4,786,000 of loans were in development loans. $907,000 of loans were in multifamily mortgage loans. $23,286,000 of loans were in 1-4 family mortgage loans. $3,494,000 of loans were in farm loans. $409,000 of loans were in credit card loans. $3,696,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	143	$22,614	$158,140
Nonfarm, nonresidential loans - <$100k	72	$7,043	$97,819
Nonfarm, nonresidential loans - $100-250k	50	$7,433	$148,660
Nonfarm, nonresidential loans - $250k-1MM	21	$8,138	$387,524
Commercial & Industrial, US addressed loans - <$1MM	211	$7,359	$34,877
Commercial & Industrial, US addressed loans - <$100k	196	$5,537	$28,250
Commercial & Industrial, US addressed loans - $100-250k	11	$933	$84,818
Commercial & Industrial, US addressed loans - $250k-1MM	4	$889	$222,250
Farmland loans - <$1MM	62	$8,243	$132,952
Farmland loans - <$100k	33	$2,923	$88,576
Farmland loans - $100-250k	22	$3,407	$154,864
Farmland loans - $250k-1MM	7	$1,913	$273,286
Agriculture operations loans - <$1MM	95	$3,376	$35,537
Agriculture operations loans - <$100k	86	$2,295	$26,686
Agriculture operations loans - $100-250k	7	$755	$107,857
Agriculture operations loans - $250k-1MM	2	$326	$163,000