Citizens State Bank Mortgage Rates, Fees & Info

Cadott, WI

LEI: 254900JU2DYRJVDHMG47

Tax ID: 39-0210140

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Citizens State Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Citizens State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Eau Claire, Menomonie, Minneapolis, Appleton, and Baraboo among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Citizens State Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    425

    Origination Dollar Volume (All Markets)

    $72,595,000

    Employee count

    45

    Awards

    Citizens State Bank 30 Year Conventional Loans gold Citizens State Bank 30 Year Conventional Loans gold
    Show all (2) awards

    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) 381 $64,055,000 $168,123 $2,493 2.83%
    Outside of Metro Areas 27 $4,595,000 $170,185 $2,491 2.94%
    Menomonie, WI (FHA|USDA|VA) 7 $2,015,000 $287,857 $5,150 3.27%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 5 $1,155,000 $231,000 $2,806 3.15%
    APPLETON, WI (FHA|USDA|VA) 1 $265,000 $265,000 $2,034 3.00%
    Baraboo, WI (FHA|USDA|VA) 1 $205,000 $205,000 $2,765 2.25%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $165,000 $165,000 $3,237 2.75%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $140,000 $70,000 $1,611 4.25%
    Citizens State Bank's top markets include Eau Claire, Menomonie, Minneapolis, Appleton, and Baraboo 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.

    Citizens State Bank
    Similarity Rank: 168
    Citizens State Bank of La Crosse
    Similarity Rank: 189
    Peoples Bank Midwest
    Similarity Rank: 200
    CO-OP Credit Union
    Similarity Rank: 378
    Prevail Bank
    Similarity Rank: 378
    Charter Bank
    Similarity Rank: 380
    Citizens Community Federal
    Similarity Rank: 665
    WESTconsin Credit Union
    Similarity Rank: 779
    Bank Five Nine
    Similarity Rank: 1078
    Merchants Bank
    Similarity Rank: 1275

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 425 $72,595,000 $170,812 $2,528 2.86%

    For 2020, Citizens State Bank's most frequently originated type of loan was Conventional, with 425 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 210 $35,350,000 $168,333 $2,053 2.72%
    Cash Out Refi 127 $22,025,000 $173,425 $3,040 2.76%
    Home Purchase 83 $14,765,000 $177,892 $2,912 3.34%
    Home Improvement 3 $145,000 $48,333 $3,159 2.98%
    Other 2 $310,000 $155,000 $3,533 3.06%

    For 2020, Citizens State Bank's most frequently cited loan purpose was Refi, with 210 originations. The 2nd most popular reason was Cash Out Refi, with 127 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 177 $26,875,000 $151,836 $2,065 2.54%
    30 Year 160 $30,280,000 $189,250 $3,022 2.99%
    20 Year 56 $9,350,000 $166,964 $2,763 2.91%
    10 Year 16 $2,640,000 $165,000 $1,775 3.07%
    Other 8 $2,730,000 $341,250 $1,156 4.17%
    5 Year 6 $560,000 $93,333 $0 5.49%
    3 Year 2 $160,000 $80,000 $0 4.38%

    For 2020, Citizens State Bank's most frequently cited loan duration was 15 Year, with 177 originations. The 2nd most popular length was 30 Year, with 160 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 175 $23,795,000 $135,971
    $1k-2k 133 $24,345,000 $183,045
    $2k-3k 47 $9,465,000 $201,383
    $3k-4k 18 $4,250,000 $236,111
    $4k-5k 11 $2,245,000 $204,091
    $5k+ 11 $2,425,000 $220,455

    Citizens State Bank's average total fees were $3,022, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 175 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 212 $38,290,000 $180,613
    <2.5% 149 $22,655,000 $152,047
    3-4% 37 $8,345,000 $225,541
    4-5% 21 $3,005,000 $143,095
    5-6% 3 $185,000 $61,667
    6-7% 1 $45,000 $45,000
    Over 8% 1 $25,000 $25,000

    During 2020, Citizens State Bank's average interest rate for loans was 2.99%, while their most frequently originated rate bucket for loans was 2.5-3%, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 221 $33,115,000 $149,842 $2,383 2.81%
    $200k-400k 114 $29,390,000 $257,807 $3,098 2.86%
    $100,000 or less 86 $6,370,000 $74,070 $2,003 2.94%
    $400k-600k 2 $960,000 $480,000 $5,145 2.81%
    $1MM+ 1 $1,875,000 $1,875,000 $0 3.99%
    $600k-1MM 1 $885,000 $885,000 $0 3.90%

    2020 saw Citizens State Bank place emphasis on $100k-200k loans with 221 originations, totaling $33,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 103 $18,935,000 $183,835 $2,644 2.77%
    $50k-75k 99 $13,785,000 $139,242 $2,380 2.84%
    $75k-100k 99 $16,765,000 $169,343 $2,760 2.81%
    $50k or less 56 $5,920,000 $105,714 $2,284 3.06%
    $150k-250k 46 $10,130,000 $220,217 $2,301 2.59%
    $250k+ 10 $2,420,000 $242,000 $2,871 3.33%

    Citizens State Bank lent most frequently to those with incomes in the $100k-150k range, with 103 originations. The second most popular income band? $50k-75k, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 134 $21,740,000 $162,239 $2,376 2.81%
    <20% 93 $12,825,000 $137,903 $2,112 2.78%
    30-36% 80 $14,810,000 $185,125 $2,774 2.74%
    36% 12 $1,860,000 $155,000 $2,434 2.86%
    42% 10 $1,970,000 $197,000 $3,144 2.86%
    37% 10 $2,190,000 $219,000 $2,813 2.74%
    40% 10 $1,630,000 $163,000 $4,004 2.63%
    41% 10 $1,870,000 $187,000 $4,152 2.84%
    39% 9 $1,515,000 $168,333 $2,677 2.69%
    38% 9 $1,915,000 $212,778 $2,948 3.17%
    50-60% 6 $1,030,000 $171,667 $2,693 3.42%
    49% 6 $1,270,000 $211,667 $3,840 2.71%
    48% 5 $785,000 $157,000 $2,123 3.30%
    45% 4 $570,000 $142,500 $2,220 2.72%
    43% 4 $700,000 $175,000 $2,145 2.38%
    44% 4 $860,000 $215,000 $1,752 3.19%
    46% 3 $395,000 $131,667 $1,704 2.79%
    47% 2 $200,000 $100,000 $1,855 2.81%

    Citizens State Bank lent most frequently to those with DTI ratios of 20-30%, with 134 originations. The next most common DTI ratio? <20%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 404 $66,240,000 $163,960 $2,526 2.82%
    Not applicable 8 $3,840,000 $480,000 $0 4.41%
    Not provided 9 $2,015,000 $223,889 $3,056 2.98%
    American Indian 2 $230,000 $115,000 $1,406 2.63%
    Asian 1 $175,000 $175,000 $2,098 2.88%
    Japanese 1 $95,000 $95,000 $1,570 3.00%

    Approval Rates

    Total approvals of all applications
    97.63%

    Citizens State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    93.41%

    Citizens State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 425 $72,595,000 $170,812

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $85,000 $85,000
    Single Family (1-4 Units):Manufactured 12 $1,010,000 $84,167
    Single Family (1-4 Units):Site-Built 412 $71,500,000 $173,544

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $4,640,000 $105,455 $1,789 2.71%
    40-60% 115 $17,715,000 $154,043 $1,987 2.73%
    60-80% 193 $37,385,000 $193,705 $2,840 2.86%
    80-100% 67 $12,495,000 $186,493 $3,164 3.17%
    Under 20% 6 $360,000 $60,000 $1,653 2.71%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 35 12.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 13 4.7%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Credit monitoring or identity theft protection services 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 5 1.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 26 9.5%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 109 39.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 2.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 20 7.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.5%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 11 4.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 4 1.5%

    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 $20,362
    Citizens State Bank 17153 County Highway J Chippewa Falls, WI 54729 Full Service B&M $20,670
    Citizens State Bank 221 Bridge St Cornell, WI 54732 Full Service B&M $1,629
    Citizens State Bank 304 North Main Street Cadott, WI 54727 Full Service B&M $70,554
    Citizens State Bank 505 South Main Street Cadott, WI 54727 Full Service B&M $0

    For 2020, Citizens State Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,281
    Net interest income $4,694
    Total noninterest income $1,751
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $129
    Trading account gains and fees $0
    Additional Noninterest Income $1,622
    Pre-tax net operating income $1,523
    Securities gains (or losses, -) $1
    Income before extraordinary items $1,149
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,149
    Minority interest net income $0
    Net income $1,149
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,148

    Citizens State Bank's gross interest income from loans was $5,281,000.
    Citizens State Bank's net interest income from loans was $4,694,000.
    Citizens State Bank's fee based income from loans was $129,000.
    Citizens State Bank's net income from loans was $1,149,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $587
    Provision for credit losses $153
    Total noninterest expense $4,769
    Salaries and employee benefits $3,127
    Premises and equipment expense $447
    Additional noninterest expense $1,195
    Applicable income taxes $375
    Net charge-offs $-220
    Cash dividends $335

    Citizens State Bank's interest expense for loans was $587,000.
    Citizens State Bank's payroll and benefits expense were $3,127,000.
    Citizens State Bank's property, plant and equipment expenses $447,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    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 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $129,474
    Deposits held in domestic offices $129,474
    Deposits by Individuals, partnerships, and corporations $109,870
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $19,604
    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 $59,945
    Demand deposits $32,570
    Nontransaction accounts $69,529
    Money market deposit accounts (MMDAs) $16,603
    Other savings deposits (excluding MMDAs) $30,750
    Total time deposits $22,176
    Total time and savings deposits $96,904
    Noninterest-bearing deposits $30,539
    Interest-bearing deposits $98,935
    Retail deposits $128,574
    IRAs and Keogh plan accounts $5,618
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $145,281
    Cash & Balances due from depository institutions $30,754
    Interest-bearing balances $25,000
    Total securities $18,009
    Federal funds sold & reverse repurchase $2,811
    Net loans and leases $91,105
    Loan and leases loss allowance $1,697
    Trading account assets $0
    Bank premises and fixed assets $2,040
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $562

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $145,281
    Total Liabilities $130,558
    Total deposits $129,474
    Interest-bearing deposits $98,935
    Deposits held in domestic offices $129,474
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,084

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $91,105
    Loan and leases loss allowance $1,697
    Total loans and leases (domestic) $92,802
    All real estate loans $75,327
    Real estate loans in domestic offices $75,327
    Construction and development loans $7,227
    Residential 1-4 family construction $4,339
    Other construction, all land development and other land $2,888
    Loans secured by nonfarm nonresidential properties $26,949
    Nonfarm nonresidential secured by owner-occupied properties $19,306
    Commercial real estate & other non-farm, non-residential $7,643
    Multifamily residential real estate $3,516
    1-4 family residential loans $26,512
    Farmland loans $11,123
    Loans held in foreign offices $0
    Farm loans $2,671
    Commercial and industrial loans $8,914
    To non-U.S. addressees $0
    Loans to individuals $3,313
    Credit card loans $291
    Related Plans $0
    Consumer Auto Loans $2,971
    Other loans to individuals $51
    All other loans & leases $2,577
    Loans to foreign governments and official institutions $0
    Other loans $811
    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 $42
    Non 1-4 family restructured loans & leases $14
    Total loans and leases (foreign) $0

    Citizens State Bank had $91,105,000 of loans outstanding in 2020. $75,327,000 of loans were in real estate loans. $7,227,000 of loans were in development loans. $3,516,000 of loans were in multifamily mortgage loans. $26,512,000 of loans were in 1-4 family mortgage loans. $2,671,000 of loans were in farm loans. $291,000 of loans were in credit card loans. $2,971,000 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 120 $21,864 $182,200
    Nonfarm, nonresidential loans - <$100k 34 $1,355 $39,853
    Nonfarm, nonresidential loans - $100-250k 56 $7,958 $142,107
    Nonfarm, nonresidential loans - $250k-1MM 30 $12,551 $418,367
    Commercial & Industrial, US addressed loans - <$1MM 131 $6,379 $48,695
    Commercial & Industrial, US addressed loans - <$100k 109 $2,891 $26,523
    Commercial & Industrial, US addressed loans - $100-250k 15 $1,829 $121,933
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $1,659 $237,000
    Farmland loans - <$1MM 67 $8,076 $120,537
    Farmland loans - <$100k 28 $1,444 $51,571
    Farmland loans - $100-250k 29 $3,954 $136,345
    Farmland loans - $250k-1MM 10 $2,678 $267,800
    Agriculture operations loans - <$1MM 73 $2,671 $36,589
    Agriculture operations loans - <$100k 62 $1,416 $22,839
    Agriculture operations loans - $100-250k 9 $978 $108,667
    Agriculture operations loans - $250k-1MM 2 $277 $138,500