Citizens State Bank Mortgage Rates, Fees & Info

Monticello, IA

LEI: 254900P6952HH7CVAC87

Tax ID: 42-0181990

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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 Home Purchase, Refi, and Cash Out Refi loans. Citizens State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cedar Rapids, Dubuque, and Waterloo among others. We have data for 4 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 a below 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

    105

    Origination Dollar Volume (All Markets)

    $14,595,000

    Employee count

    64

    Awards

    Citizens State Bank 30 Year Conventional Loans gold Citizens State Bank 30 Year Conventional Loans gold Citizens State Bank 30 Year Conventional Loans gold
    Show all (3) 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
    Outside of Metro Areas 53 $7,215,000 $136,132 $1,266 4.90%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 42 $5,640,000 $134,286 $1,197 4.98%
    DUBUQUE, IA (FHA|USDA|VA) 8 $1,450,000 $181,250 $1,437 4.50%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 2 $290,000 $145,000 $1,376 4.81%
    Citizens State Bank's top markets include Cedar Rapids, Dubuque, and Waterloo among others.

    Their top states include:
  • Iowa (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: 68
    Farmers Savings Bank & Trust
    Similarity Rank: 76
    FIRST
    Similarity Rank: 117
    Hills Bank and Trust Company
    Similarity Rank: 117
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 216
    Collins Community Credit Union
    Similarity Rank: 247
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 273
    BankIowa of Cedar Rapids
    Similarity Rank: 304
    American Trust & Savings Bank
    Similarity Rank: 567
    RUHL MORTGAGE, LLC
    Similarity Rank: 576

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 105 $14,595,000 $139,000 $1,255 4.90%

    For 2018, Citizens State Bank's most frequently originated type of loan was Conventional, with 105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 58 $7,630,000 $131,552 $1,308 4.86%
    Refi 28 $3,980,000 $142,143 $1,044 5.31%
    Cash Out Refi 18 $2,960,000 $164,444 $1,314 4.33%
    Home Improvement 1 $25,000 $25,000 $564 5.95%

    For 2018, Citizens State Bank's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 49 $7,645,000 $156,020 $1,370 4.70%
    15 Year 19 $2,385,000 $125,526 $1,460 3.99%
    Other 19 $2,865,000 $150,789 $641 5.99%
    3 Year 8 $460,000 $57,500 $0 5.98%
    20 Year 4 $630,000 $157,500 $1,317 4.38%
    10 Year 3 $145,000 $48,333 $1,287 3.63%
    5 Year 2 $310,000 $155,000 $0 6.20%
    1 Year 1 $155,000 $155,000 $604 5.95%

    For 2018, Citizens State Bank's most frequently cited loan duration was 30 Year, with 49 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 90 $12,460,000 $138,444
    $2k-3k 1 $205,000 $205,000

    Citizens State Bank's average total fees were $1,370, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 90 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 53 $7,615,000 $143,679
    5-6% 24 $3,530,000 $147,083
    3-4% 17 $2,675,000 $157,353
    6-7% 11 $775,000 $70,455

    During 2018, Citizens State Bank's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 53 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 43 $2,595,000 $60,349 $1,179 5.08%
    $100k-200k 37 $5,375,000 $145,270 $1,251 4.79%
    $200k-400k 22 $5,230,000 $237,727 $1,385 4.71%
    $400k-600k 3 $1,395,000 $465,000 $1,323 5.07%

    2018 saw Citizens State Bank place emphasis on $100,000 or less loans with 43 originations, totaling $2,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 31 $4,435,000 $143,065 $1,253 4.81%
    $50k or less 27 $2,345,000 $86,852 $1,239 4.78%
    $75k-100k 14 $2,010,000 $143,571 $1,225 4.78%
    $100k-150k 12 $2,050,000 $170,833 $1,320 4.58%
    $150k-250k 2 $490,000 $245,000 $1,344 4.25%
    $250k+ 2 $570,000 $285,000 $1,163 4.31%

    Citizens State Bank lent most frequently to those with incomes in the $50k-75k range, with 31 originations. The second most popular income band? $50k or less, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $3,470,000 $115,667 $1,201 4.90%
    30-36% 16 $2,030,000 $126,875 $1,291 4.54%
    <20% 13 $1,485,000 $114,231 $1,252 4.49%
    36% 5 $925,000 $185,000 $1,383 4.78%
    40% 4 $750,000 $187,500 $1,236 5.02%
    39% 4 $560,000 $140,000 $1,283 4.53%
    43% 3 $435,000 $145,000 $1,384 4.54%
    42% 3 $295,000 $98,333 $1,353 4.42%
    >60% 2 $390,000 $195,000 $572 5.58%
    41% 2 $480,000 $240,000 $1,375 4.50%
    48% 2 $350,000 $175,000 $1,358 4.75%
    49% 2 $250,000 $125,000 $1,486 4.88%
    38% 1 $85,000 $85,000 $994 5.95%
    37% 1 $195,000 $195,000 $1,316 4.88%
    47% 1 $285,000 $285,000 $1,356 4.63%

    Citizens State Bank lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $12,640,000 $137,391 $1,253 4.78%
    Not applicable 12 $1,860,000 $155,000 $0 5.85%
    Asian 1 $95,000 $95,000 $1,442 4.50%

    Approval Rates

    Total approvals of all applications
    90.41%

    Citizens State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.19%

    Citizens State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 105 $14,595,000 $139,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $35,000 $35,000
    Multifamily:Site-Built 4 $620,000 $155,000
    Single Family (1-4 Units):Manufactured 1 $75,000 $75,000
    Single Family (1-4 Units):Site-Built 99 $13,865,000 $140,051

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,760,000 $146,667 $1,140 4.85%
    40-60% 11 $1,375,000 $125,000 $1,344 5.13%
    60-80% 54 $7,320,000 $135,556 $1,306 4.66%
    80-100% 21 $3,395,000 $161,667 $1,208 4.95%
    Under 20% 7 $745,000 $106,429 $377 6.36%

    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 101 Madison Street Winthrop, IA 50682 Full Service B&M $38,101
    Citizens State Bank 102 East Mission Strawberry Point, IA 52076 Full Service B&M $42,716
    Citizens State Bank 117 West First Street Monticello, IA 52310 Full Service B&M $106,566
    Citizens State Bank 1218 West Main Street Manchester, IA 52057 Full Service B&M $64,539
    Citizens State Bank 204 Main Street Ryan, IA 52330 Full Service B&M $16,004
    Citizens State Bank 7352 Columbus Street New Vienna, IA 52065 Full Service B&M $30,381
    Citizens State Bank First Street Hopkinton, IA 52237 Full Service B&M $17,942

    For 2018, Citizens State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,442
    Net interest income $12,716
    Total noninterest income $2,737
    Gross Fiduciary activities income $36
    Service charges on deposit accounts $333
    Trading account gains and fees $0
    Additional Noninterest Income $2,368
    Pre-tax net operating income $7,094
    Securities gains (or losses, -) $-52
    Income before extraordinary items $6,715
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,715
    Minority interest net income $0
    Net income $6,715
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,764

    Citizens State Bank's gross interest income from loans was $16,442,000.
    Citizens State Bank's net interest income from loans was $12,716,000.
    Citizens State Bank's fee based income from loans was $333,000.
    Citizens State Bank's net income from loans was $6,715,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,726
    Provision for credit losses $700
    Total noninterest expense $7,659
    Salaries and employee benefits $5,245
    Premises and equipment expense $615
    Additional noninterest expense $1,799
    Applicable income taxes $327
    Net charge-offs $2
    Cash dividends $4,337

    Citizens State Bank's interest expense for loans was $3,726,000.
    Citizens State Bank's payroll and benefits expense were $5,245,000.
    Citizens State Bank's property, plant and equipment expenses $615,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $334,401
    Deposits held in domestic offices $334,401
    Deposits by Individuals, partnerships, and corporations $249,037
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $84,368
    Deposits by Commercial banks and other depository institutions in U.S. $996
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $127,081
    Demand deposits $46,169
    Nontransaction accounts $207,320
    Money market deposit accounts (MMDAs) $54,942
    Other savings deposits (excluding MMDAs) $33,325
    Total time deposits $119,053
    Total time and savings deposits $288,232
    Noninterest-bearing deposits $46,169
    Interest-bearing deposits $288,232
    Retail deposits $295,514
    IRAs and Keogh plan accounts $19,767
    Brokered deposits $6,235
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $400,174
    Cash & Balances due from depository institutions $8,237
    Interest-bearing balances $2,473
    Total securities $131,396
    Federal funds sold & reverse repurchase $826
    Net loans and leases $235,192
    Loan and leases loss allowance $3,207
    Trading account assets $0
    Bank premises and fixed assets $2,922
    Other real estate owned $0
    Goodwill and other intangibles $7,155
    All other assets $14,446

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $400,174
    Total Liabilities $354,240
    Total deposits $334,401
    Interest-bearing deposits $288,232
    Deposits held in domestic offices $334,401
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $18,200
    Subordinated debt $0
    All other liabilities $1,639

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $235,192
    Loan and leases loss allowance $3,207
    Total loans and leases (domestic) $238,399
    All real estate loans $125,095
    Real estate loans in domestic offices $125,095
    Construction and development loans $2,551
    Residential 1-4 family construction $2,189
    Other construction, all land development and other land $362
    Loans secured by nonfarm nonresidential properties $20,884
    Nonfarm nonresidential secured by owner-occupied properties $5,748
    Commercial real estate & other non-farm, non-residential $15,136
    Multifamily residential real estate $597
    1-4 family residential loans $20,370
    Farmland loans $80,693
    Loans held in foreign offices $0
    Farm loans $83,855
    Commercial and industrial loans $23,492
    To non-U.S. addressees $0
    Loans to individuals $3,647
    Credit card loans $4
    Related Plans $41
    Consumer Auto Loans $1,932
    Other loans to individuals $1,670
    All other loans & leases $2,310
    Loans to foreign governments and official institutions $0
    Other loans $201
    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 $6,899
    Non 1-4 family restructured loans & leases $6,264
    Total loans and leases (foreign) $0

    Citizens State Bank had $235,192,000 of loans outstanding in 2018. $125,095,000 of loans were in real estate loans. $2,551,000 of loans were in development loans. $597,000 of loans were in multifamily mortgage loans. $20,370,000 of loans were in 1-4 family mortgage loans. $83,855,000 of loans were in farm loans. $4,000 of loans were in credit card loans. $1,932,000 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 88 $11,713 $133,102
    Nonfarm, nonresidential loans - <$100k 46 $2,066 $44,913
    Nonfarm, nonresidential loans - $100-250k 23 $3,230 $140,435
    Nonfarm, nonresidential loans - $250k-1MM 19 $6,417 $337,737
    Commercial & Industrial, US addressed loans - <$1MM 325 $17,164 $52,812
    Commercial & Industrial, US addressed loans - <$100k 250 $5,638 $22,552
    Commercial & Industrial, US addressed loans - $100-250k 52 $4,933 $94,865
    Commercial & Industrial, US addressed loans - $250k-1MM 23 $6,593 $286,652
    Farmland loans - <$1MM 328 $30,571 $93,204
    Farmland loans - <$100k 98 $3,747 $38,235
    Farmland loans - $100-250k 139 $13,186 $94,863
    Farmland loans - $250k-1MM 91 $13,638 $149,868
    Agriculture operations loans - <$1MM 719 $44,054 $61,271
    Agriculture operations loans - <$100k 485 $11,234 $23,163
    Agriculture operations loans - $100-250k 171 $18,706 $109,392
    Agriculture operations loans - $250k-1MM 63 $14,114 $224,032