Citizens State Bank Mortgage Rates, Fees & Info

Monticello, IA

LEI: 254900P6952HH7CVAC87

Tax ID: 42-0181990

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Mortgage Data

Bank Data

Review & Overview

Citizens State Bank is a smaller bank specializing in 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, Waterloo, and Iowa City among others. We have data for 10 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.

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Originations

431

Origination Dollar Volume (All Markets)

$79,085,000

Employee count

65

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 221 $37,595,000 $170,113 $0 0.00%
CEDAR RAPIDS, IA (FHA|USDA|VA) 143 $26,655,000 $186,399 $0 0.00%
DUBUQUE, IA (FHA|USDA|VA) 36 $7,470,000 $207,500 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 11 $3,175,000 $288,636 $0 0.00%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 8 $1,830,000 $228,750 $0 0.00%
IOWA CITY, IA (FHA|USDA|VA) 7 $1,435,000 $205,000 $0 0.00%
Burlington, IA-IL (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
AMES, IA (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Muscatine, IA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Citizens State Bank's top markets include Cedar Rapids, Dubuque, Des Moines, Waterloo, and Iowa City among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 431 $79,085,000 $183,492 $0 0.00%

    For 2020, Citizens State Bank's most frequently originated type of loan was Conventional, with 431 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 221 $43,055,000 $194,819 $0 0.00%
    Cash Out Refi 150 $26,370,000 $175,800 $0 0.00%
    Home Purchase 59 $9,655,000 $163,644 $0 0.00%
    Other 1 $5,000 $5,000 $0 0.00%

    For 2020, Citizens State Bank's most frequently cited loan purpose was Refi, with 221 originations. The 2nd most popular reason was Cash Out Refi, with 150 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 431 $79,085,000 $183,492 $0 0.00%

    For 2020, Citizens State Bank's most frequently cited loan duration was Other, with 431 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 188 $27,430,000 $145,904 $0 0.00%
    $200k-400k 135 $35,565,000 $263,444 $0 0.00%
    $100,000 or less 100 $7,290,000 $72,900 $0 0.00%
    $400k-600k 4 $1,820,000 $455,000 $0 0.00%
    $600k-1MM 3 $2,335,000 $778,333 $0 0.00%
    $1MM+ 1 $4,645,000 $4,645,000 $0 0.00%

    2020 saw Citizens State Bank place emphasis on $100k-200k loans with 188 originations, totaling $27,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 110 $20,170,000 $183,364 $0 0.00%
    $50k-75k 92 $13,850,000 $150,543 $0 0.00%
    $75k-100k 84 $14,060,000 $167,381 $0 0.00%
    $50k or less 63 $6,555,000 $104,048 $0 0.00%
    $150k-250k 37 $9,705,000 $262,297 $0 0.00%
    $250k+ 13 $3,535,000 $271,923 $0 0.00%

    Citizens State Bank lent most frequently to those with incomes in the $100k-150k range, with 110 originations. The second most popular income band? $50k-75k, with 92 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 431 $79,085,000 $183,492 $0 0.00%

    Citizens State Bank lent most frequently to those with DTI ratios of Exempt%, with 431 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 416 $70,250,000 $168,870 $0 0.00%
    Not applicable 11 $7,885,000 $716,818 $0 0.00%
    Not provided 2 $430,000 $215,000 $0 0.00%
    Black 1 $285,000 $285,000 $0 0.00%
    Asian 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.35%

    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
    89.56%

    Citizens State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 431 $79,085,000 $183,492

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $1,435,000 $205,000
    Single Family (1-4 Units):Manufactured 2 $140,000 $70,000
    Single Family (1-4 Units):Site-Built 422 $77,510,000 $183,673

    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 101 Madison Street Winthrop, IA 50682 Full Service B&M $38,009
    Citizens State Bank 102 East Mission Strawberry Point, IA 52076 Full Service B&M $47,745
    Citizens State Bank 117 West First Street Monticello, IA 52310 Full Service B&M $134,143
    Citizens State Bank 1218 West Main Street Manchester, IA 52057 Full Service B&M $69,625
    Citizens State Bank 204 Main Street Ryan, IA 52330 Full Service B&M $20,780
    Citizens State Bank 7352 Columbus Street New Vienna, IA 52065 Full Service B&M $35,107
    Citizens State Bank First Street Hopkinton, IA 52237 Full Service B&M $18,105

    For 2020, Citizens State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,413
    Net interest income $13,287
    Total noninterest income $3,807
    Gross Fiduciary activities income $25
    Service charges on deposit accounts $229
    Trading account gains and fees $0
    Additional Noninterest Income $3,553
    Pre-tax net operating income $7,959
    Securities gains (or losses, -) $69
    Income before extraordinary items $7,628
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,628
    Minority interest net income $0
    Net income $7,628
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,562

    Citizens State Bank's gross interest income from loans was $17,413,000.
    Citizens State Bank's net interest income from loans was $13,287,000.
    Citizens State Bank's fee based income from loans was $229,000.
    Citizens State Bank's net income from loans was $7,628,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,126
    Provision for credit losses $600
    Total noninterest expense $8,535
    Salaries and employee benefits $6,215
    Premises and equipment expense $630
    Additional noninterest expense $1,690
    Applicable income taxes $400
    Net charge-offs $-3
    Cash dividends $5,016

    Citizens State Bank's interest expense for loans was $4,126,000.
    Citizens State Bank's payroll and benefits expense were $6,215,000.
    Citizens State Bank's property, plant and equipment expenses $630,000.

    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 $375,245
    Deposits held in domestic offices $375,245
    Deposits by Individuals, partnerships, and corporations $301,083
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $74,152
    Deposits by Commercial banks and other depository institutions in U.S. $10
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $153,045
    Demand deposits $62,639
    Nontransaction accounts $222,200
    Money market deposit accounts (MMDAs) $65,113
    Other savings deposits (excluding MMDAs) $43,121
    Total time deposits $113,966
    Total time and savings deposits $312,606
    Noninterest-bearing deposits $62,638
    Interest-bearing deposits $312,607
    Retail deposits $346,053
    IRAs and Keogh plan accounts $18,903
    Brokered deposits $1,735
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $451,161
    Cash & Balances due from depository institutions $7,959
    Interest-bearing balances $2,816
    Total securities $204,816
    Federal funds sold & reverse repurchase $0
    Net loans and leases $211,323
    Loan and leases loss allowance $3,780
    Trading account assets $0
    Bank premises and fixed assets $2,727
    Other real estate owned $0
    Goodwill and other intangibles $7,155
    All other assets $17,181

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $451,161
    Total Liabilities $390,446
    Total deposits $375,245
    Interest-bearing deposits $312,607
    Deposits held in domestic offices $375,245
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $3,109
    Trading liabilities $0
    Other borrowed funds $10,000
    Subordinated debt $0
    All other liabilities $2,092

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $211,323
    Loan and leases loss allowance $3,780
    Total loans and leases (domestic) $215,103
    All real estate loans $119,535
    Real estate loans in domestic offices $119,535
    Construction and development loans $1,533
    Residential 1-4 family construction $1,188
    Other construction, all land development and other land $345
    Loans secured by nonfarm nonresidential properties $29,579
    Nonfarm nonresidential secured by owner-occupied properties $4,079
    Commercial real estate & other non-farm, non-residential $25,500
    Multifamily residential real estate $506
    1-4 family residential loans $25,911
    Farmland loans $62,006
    Loans held in foreign offices $0
    Farm loans $67,320
    Commercial and industrial loans $23,402
    To non-U.S. addressees $0
    Loans to individuals $3,459
    Credit card loans $0
    Related Plans $21
    Consumer Auto Loans $1,906
    Other loans to individuals $1,532
    All other loans & leases $1,387
    Loans to foreign governments and official institutions $0
    Other loans $187
    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 $11,072
    Non 1-4 family restructured loans & leases $10,982
    Total loans and leases (foreign) $0

    Citizens State Bank had $211,323,000 of loans outstanding in 2020. $119,535,000 of loans were in real estate loans. $1,533,000 of loans were in development loans. $506,000 of loans were in multifamily mortgage loans. $25,911,000 of loans were in 1-4 family mortgage loans. $67,320,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,906,000 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 79 $11,265 $142,595
    Nonfarm, nonresidential loans - <$100k 37 $1,685 $45,541
    Nonfarm, nonresidential loans - $100-250k 22 $2,439 $110,864
    Nonfarm, nonresidential loans - $250k-1MM 20 $7,141 $357,050
    Commercial & Industrial, US addressed loans - <$1MM 381 $15,636 $41,039
    Commercial & Industrial, US addressed loans - <$100k 315 $6,183 $19,629
    Commercial & Industrial, US addressed loans - $100-250k 48 $4,951 $103,146
    Commercial & Industrial, US addressed loans - $250k-1MM 18 $4,502 $250,111
    Farmland loans - <$1MM 284 $25,847 $91,011
    Farmland loans - <$100k 64 $2,478 $38,719
    Farmland loans - $100-250k 123 $10,756 $87,447
    Farmland loans - $250k-1MM 97 $12,613 $130,031
    Agriculture operations loans - <$1MM 655 $36,132 $55,163
    Agriculture operations loans - <$100k 444 $9,501 $21,399
    Agriculture operations loans - $100-250k 144 $12,537 $87,063
    Agriculture operations loans - $250k-1MM 67 $14,094 $210,358