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, Des Moines, Iowa City, and Marshalltown among others. We have data for 6 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.

    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

    133

    Origination Dollar Volume (All Markets)

    $18,805,000

    Employee count

    66

    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 76 $10,940,000 $143,947 $0 0.00%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 41 $5,315,000 $129,634 $0 0.00%
    DUBUQUE, IA (FHA|USDA|VA) 10 $1,710,000 $171,000 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 4 $630,000 $157,500 $0 0.00%
    IOWA CITY, IA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    Marshalltown, IA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Citizens State Bank's top markets include Cedar Rapids, Dubuque, Des Moines, Iowa City, and Marshalltown 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.

    Hills Bank and Trust Company
    Similarity Rank: 117
    FIRST
    Similarity Rank: 154
    BankIowa of Cedar Rapids
    Similarity Rank: 210
    RUHL MORTGAGE, LLC
    Similarity Rank: 306
    MidWestOne Bank
    Similarity Rank: 310
    Collins Community Credit Union
    Similarity Rank: 340
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 364
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 390
    UNIVERSAL LENDING CORPORATION
    Similarity Rank: 552
    GREENSTATE CREDIT UNION
    Similarity Rank: 945

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 133 $18,805,000 $141,391 $0 0.00%

    For 2019, Citizens State Bank's most frequently originated type of loan was Conventional, with 133 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 63 $8,105,000 $128,651 $0 0.00%
    Refi 37 $5,735,000 $155,000 $0 0.00%
    Cash Out Refi 31 $4,855,000 $156,613 $0 0.00%
    Other 2 $110,000 $55,000 $0 0.00%

    For 2019, Citizens State Bank's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Refi, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 133 $18,805,000 $141,391 $0 0.00%

    For 2019, Citizens State Bank's most frequently cited loan duration was Other, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $3,395,000 $64,057 $0 0.00%
    $100k-200k 47 $6,335,000 $134,787 $0 0.00%
    $200k-400k 31 $7,945,000 $256,290 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%
    $600k-1MM 1 $725,000 $725,000 $0 0.00%

    2019 saw Citizens State Bank place emphasis on $100,000 or less loans with 53 originations, totaling $3,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 39 $3,665,000 $93,974 $0 0.00%
    $50k-75k 28 $3,630,000 $129,643 $0 0.00%
    $100k-150k 19 $2,915,000 $153,421 $0 0.00%
    $75k-100k 19 $3,195,000 $168,158 $0 0.00%
    $150k-250k 13 $2,715,000 $208,846 $0 0.00%
    $250k+ 1 $355,000 $355,000 $0 0.00%

    Citizens State Bank lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 133 $18,805,000 $141,391 $0 0.00%

    Citizens State Bank lent most frequently to those with DTI ratios of Exempt%, with 133 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 125 $17,415,000 $139,320 $0 0.00%
    Not applicable 8 $1,390,000 $173,750 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.12%

    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
    84.21%

    Citizens State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 133 $18,805,000 $141,391

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $210,000 $105,000
    Single Family (1-4 Units):Manufactured 4 $180,000 $45,000
    Single Family (1-4 Units):Site-Built 127 $18,415,000 $145,000

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 4.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 6 2.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 20 8.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 81 34.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 13 5.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 11 4.7%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 9 3.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 8 3.4%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 52 22.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 2 0.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens State Bank 204 Main Street Ryan, IA 52330 Full Service B&M $16,855
    Citizens State Bank 101 Madison Street Winthrop, IA 50682 Full Service B&M $33,931
    Citizens State Bank 102 East Mission Strawberry Point, IA 52076 Full Service B&M $44,835
    Citizens State Bank 117 West First Street Monticello, IA 52310 Full Service B&M $128,488
    Citizens State Bank 1218 West Main Street Manchester, IA 52057 Full Service B&M $64,192
    Citizens State Bank 7352 Columbus Street New Vienna, IA 52065 Full Service B&M $36,405
    Citizens State Bank First Street Hopkinton, IA 52237 Full Service B&M $17,707

    For 2019, Citizens State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,098
    Net interest income $12,202
    Total noninterest income $3,034
    Gross Fiduciary activities income $62
    Service charges on deposit accounts $316
    Trading account gains and fees $0
    Additional Noninterest Income $2,656
    Pre-tax net operating income $6,697
    Securities gains (or losses, -) $879
    Income before extraordinary items $7,197
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,197
    Minority interest net income $0
    Net income $7,197
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,361

    Citizens State Bank's gross interest income from loans was $17,098,000.
    Citizens State Bank's net interest income from loans was $12,202,000.
    Citizens State Bank's fee based income from loans was $316,000.
    Citizens State Bank's net income from loans was $7,197,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,896
    Provision for credit losses $450
    Total noninterest expense $8,089
    Salaries and employee benefits $5,572
    Premises and equipment expense $669
    Additional noninterest expense $1,848
    Applicable income taxes $379
    Net charge-offs $480
    Cash dividends $4,886

    Citizens State Bank's interest expense for loans was $4,896,000.
    Citizens State Bank's payroll and benefits expense were $5,572,000.
    Citizens State Bank's property, plant and equipment expenses $669,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    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 $345,675
    Deposits held in domestic offices $345,675
    Deposits by Individuals, partnerships, and corporations $259,531
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $85,148
    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 $122,135
    Demand deposits $49,228
    Nontransaction accounts $223,540
    Money market deposit accounts (MMDAs) $63,220
    Other savings deposits (excluding MMDAs) $34,919
    Total time deposits $125,401
    Total time and savings deposits $296,447
    Noninterest-bearing deposits $49,238
    Interest-bearing deposits $296,437
    Retail deposits $307,612
    IRAs and Keogh plan accounts $19,333
    Brokered deposits $3,327
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $421,275
    Cash & Balances due from depository institutions $9,100
    Interest-bearing balances $4,833
    Total securities $167,433
    Federal funds sold & reverse repurchase $0
    Net loans and leases $220,365
    Loan and leases loss allowance $3,177
    Trading account assets $0
    Bank premises and fixed assets $2,939
    Other real estate owned $0
    Goodwill and other intangibles $7,155
    All other assets $14,283

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $421,275
    Total Liabilities $367,012
    Total deposits $345,675
    Interest-bearing deposits $296,437
    Deposits held in domestic offices $345,675
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $4,360
    Trading liabilities $0
    Other borrowed funds $15,000
    Subordinated debt $0
    All other liabilities $1,977

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $220,365
    Loan and leases loss allowance $3,177
    Total loans and leases (domestic) $223,542
    All real estate loans $117,125
    Real estate loans in domestic offices $117,125
    Construction and development loans $2,384
    Residential 1-4 family construction $2,051
    Other construction, all land development and other land $333
    Loans secured by nonfarm nonresidential properties $27,670
    Nonfarm nonresidential secured by owner-occupied properties $4,570
    Commercial real estate & other non-farm, non-residential $23,100
    Multifamily residential real estate $612
    1-4 family residential loans $19,585
    Farmland loans $66,874
    Loans held in foreign offices $0
    Farm loans $78,536
    Commercial and industrial loans $23,458
    To non-U.S. addressees $0
    Loans to individuals $3,665
    Credit card loans $0
    Related Plans $46
    Consumer Auto Loans $1,795
    Other loans to individuals $1,824
    All other loans & leases $758
    Loans to foreign governments and official institutions $0
    Other loans $140
    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 $5,106
    Non 1-4 family restructured loans & leases $4,401
    Total loans and leases (foreign) $0

    Citizens State Bank had $220,365,000 of loans outstanding in 2019. $117,125,000 of loans were in real estate loans. $2,384,000 of loans were in development loans. $612,000 of loans were in multifamily mortgage loans. $19,585,000 of loans were in 1-4 family mortgage loans. $78,536,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,795,000 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 75 $10,141 $135,213
    Nonfarm, nonresidential loans - <$100k 39 $1,825 $46,795
    Nonfarm, nonresidential loans - $100-250k 19 $2,619 $137,842
    Nonfarm, nonresidential loans - $250k-1MM 17 $5,697 $335,118
    Commercial & Industrial, US addressed loans - <$1MM 321 $16,481 $51,343
    Commercial & Industrial, US addressed loans - <$100k 258 $5,580 $21,628
    Commercial & Industrial, US addressed loans - $100-250k 41 $4,232 $103,220
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $6,669 $303,136
    Farmland loans - <$1MM 284 $26,726 $94,106
    Farmland loans - <$100k 71 $2,952 $41,577
    Farmland loans - $100-250k 115 $10,085 $87,696
    Farmland loans - $250k-1MM 98 $13,689 $139,684
    Agriculture operations loans - <$1MM 692 $42,783 $61,825
    Agriculture operations loans - <$100k 472 $11,490 $24,343
    Agriculture operations loans - $100-250k 154 $15,551 $100,981
    Agriculture operations loans - $250k-1MM 66 $15,742 $238,515