Citizens State Bank Mortgage Rates, Fees & Info

Monticello, IA

LEI: 254900P6952HH7CVAC87

Tax ID: 42-0181990

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

Jump to:

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: Cedar Rapids, Dubuque, Des Moines, Iowa City, and Waterloo 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    232

    Origination Dollar Volume (All Markets)

    $38,840,000

    Employee count

    67

    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 133 $21,645,000 $162,744 $0 0.00%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 75 $12,335,000 $164,467 $0 0.00%
    DUBUQUE, IA (FHA|USDA|VA) 21 $4,155,000 $197,857 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    IOWA CITY, IA (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Citizens State Bank's top markets include Cedar Rapids, Dubuque, Des Moines, Iowa City, 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.

    BankIowa of Cedar Rapids
    Similarity Rank: 75
    Farmers & Merchants Savings Bank
    Similarity Rank: 240
    Hills Bank and Trust Company
    Similarity Rank: 308
    FIRST
    Similarity Rank: 308
    Fidelity Bank & Trust
    Similarity Rank: 390
    LINN AREA
    Similarity Rank: 390
    Collins Community Credit Union
    Similarity Rank: 399
    Community Savings Bank
    Similarity Rank: 399
    RUHL MORTGAGE, LLC
    Similarity Rank: 420
    DuTrac Community Credit Union
    Similarity Rank: 564

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 232 $38,840,000 $167,414 $0 0.00%

    For 2021, Citizens State Bank's most frequently originated type of loan was Conventional, with 232 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 79 $14,755,000 $186,772 $0 0.00%
    Cash Out Refi 77 $13,125,000 $170,455 $0 0.00%
    Home Purchase 70 $10,370,000 $148,143 $0 0.00%
    Other 4 $520,000 $130,000 $0 0.00%
    Home Improvement 2 $70,000 $35,000 $0 0.00%

    For 2021, Citizens State Bank's most frequently cited loan purpose was Refi, with 79 originations. The 2nd most popular reason was Cash Out Refi, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 232 $38,840,000 $167,414 $0 0.00%

    For 2021, Citizens State Bank's most frequently cited loan duration was Other, with 232 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 98 $14,640,000 $149,388 $0 0.00%
    $100,000 or less 67 $4,645,000 $69,328 $0 0.00%
    $200k-400k 62 $16,190,000 $261,129 $0 0.00%
    $400k-600k 3 $1,375,000 $458,333 $0 0.00%
    $1MM+ 1 $1,205,000 $1,205,000 $0 0.00%
    $600k-1MM 1 $785,000 $785,000 $0 0.00%

    2021 saw Citizens State Bank place emphasis on $100k-200k loans with 98 originations, totaling $14,640,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $10,480,000 $194,074 $0 0.00%
    $50k or less 49 $5,055,000 $103,163 $0 0.00%
    $75k-100k 47 $7,605,000 $161,809 $0 0.00%
    $50k-75k 39 $5,525,000 $141,667 $0 0.00%
    $150k-250k 20 $3,850,000 $192,500 $0 0.00%
    $250k+ 7 $1,675,000 $239,286 $0 0.00%

    Citizens State Bank lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $50k or less, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 232 $38,840,000 $167,414 $0 0.00%

    Citizens State Bank lent most frequently to those with DTI ratios of Exempt%, with 232 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 214 $33,950,000 $158,645 $0 0.00%
    Not applicable 15 $4,455,000 $297,000 $0 0.00%
    Not provided 3 $435,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.13%

    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
    83.62%

    Citizens State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 232 $38,840,000 $167,414

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    232 $38,840,000 $167,414

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 54 15.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 22 6.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Improper use of your report 1 0.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 6 1.7%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 3 0.9%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 27 7.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 116 33.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 7 2.0%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 4 1.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 15 4.3%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 19 5.5%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 7 2.0%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 4 1.2%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Incorrect information on your report 2 0.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 2 0.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 27 7.8%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 5 1.4%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 3 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Improper use of your report 1 0.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Incorrect information on your report 1 0.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 3 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 13 3.7%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 2 0.6%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 3 0.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens State Bank 101 Madison Street Winthrop, IA 50682 Full Service B&M $44,122
    Citizens State Bank 102 East Mission Strawberry Point, IA 52076 Full Service B&M $55,688
    Citizens State Bank 117 West First Street Monticello, IA 52310 Full Service B&M $146,741
    Citizens State Bank 1218 West Main Street Manchester, IA 52057 Full Service B&M $79,856
    Citizens State Bank 204 Main Street Ryan, IA 52330 Full Service B&M $23,143
    Citizens State Bank 7352 Columbus Street New Vienna, IA 52065 Full Service B&M $36,089
    Citizens State Bank First Street Hopkinton, IA 52237 Full Service B&M $22,106

    For 2021, Citizens State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,196
    Net interest income $14,360
    Total noninterest income $4,664
    Gross Fiduciary activities income $30
    Service charges on deposit accounts $221
    Trading account gains and fees $0
    Additional Noninterest Income $4,413
    Pre-tax net operating income $9,138
    Securities gains (or losses, -) $929
    Income before extraordinary items $9,565
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,565
    Minority interest net income $0
    Net income $9,565
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,682

    Citizens State Bank's gross interest income from loans was $17,196,000.
    Citizens State Bank's net interest income from loans was $14,360,000.
    Citizens State Bank's fee based income from loans was $221,000.
    Citizens State Bank's net income from loans was $9,565,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,836
    Provision for credit losses $100
    Total noninterest expense $9,786
    Salaries and employee benefits $6,637
    Premises and equipment expense $643
    Additional noninterest expense $2,506
    Applicable income taxes $502
    Net charge-offs $270
    Cash dividends $6,682

    Citizens State Bank's interest expense for loans was $2,836,000.
    Citizens State Bank's payroll and benefits expense were $6,637,000.
    Citizens State Bank's property, plant and equipment expenses $643,000.

    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 $420,821
    Deposits held in domestic offices $420,821
    Deposits by Individuals, partnerships, and corporations $337,727
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $83,084
    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 $184,511
    Demand deposits $75,045
    Nontransaction accounts $236,310
    Money market deposit accounts (MMDAs) $82,806
    Other savings deposits (excluding MMDAs) $52,700
    Total time deposits $100,805
    Total time and savings deposits $345,776
    Noninterest-bearing deposits $75,928
    Interest-bearing deposits $344,893
    Retail deposits $396,475
    IRAs and Keogh plan accounts $17,674
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $499,840
    Cash & Balances due from depository institutions $5,723
    Interest-bearing balances $154
    Total securities $252,552
    Federal funds sold & reverse repurchase $0
    Net loans and leases $213,378
    Loan and leases loss allowance $3,610
    Trading account assets $0
    Bank premises and fixed assets $2,562
    Other real estate owned $0
    Goodwill and other intangibles $7,300
    All other assets $18,325

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $499,840
    Total Liabilities $440,045
    Total deposits $420,821
    Interest-bearing deposits $344,893
    Deposits held in domestic offices $420,821
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $7,444
    Trading liabilities $0
    Other borrowed funds $10,000
    Subordinated debt $0
    All other liabilities $1,780

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $213,378
    Loan and leases loss allowance $3,610
    Total loans and leases (domestic) $216,988
    All real estate loans $119,218
    Real estate loans in domestic offices $119,218
    Construction and development loans $2,261
    Residential 1-4 family construction $1,532
    Other construction, all land development and other land $729
    Loans secured by nonfarm nonresidential properties $35,805
    Nonfarm nonresidential secured by owner-occupied properties $8,295
    Commercial real estate & other non-farm, non-residential $27,510
    Multifamily residential real estate $433
    1-4 family residential loans $16,511
    Farmland loans $64,208
    Loans held in foreign offices $0
    Farm loans $64,486
    Commercial and industrial loans $28,475
    To non-U.S. addressees $0
    Loans to individuals $3,754
    Credit card loans $0
    Related Plans $18
    Consumer Auto Loans $2,228
    Other loans to individuals $1,508
    All other loans & leases $1,055
    Loans to foreign governments and official institutions $0
    Other loans $28
    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 $8,890
    Non 1-4 family restructured loans & leases $8,801
    Total loans and leases (foreign) $0

    Citizens State Bank had $213,378,000 of loans outstanding in 2021. $119,218,000 of loans were in real estate loans. $2,261,000 of loans were in development loans. $433,000 of loans were in multifamily mortgage loans. $16,511,000 of loans were in 1-4 family mortgage loans. $64,486,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,228,000 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 80 $13,366 $167,075
    Nonfarm, nonresidential loans - <$100k 36 $1,690 $46,944
    Nonfarm, nonresidential loans - $100-250k 21 $3,038 $144,667
    Nonfarm, nonresidential loans - $250k-1MM 23 $8,638 $375,565
    Commercial & Industrial, US addressed loans - <$1MM 308 $17,133 $55,627
    Commercial & Industrial, US addressed loans - <$100k 236 $5,636 $23,881
    Commercial & Industrial, US addressed loans - $100-250k 53 $5,561 $104,925
    Commercial & Industrial, US addressed loans - $250k-1MM 19 $5,936 $312,421
    Farmland loans - <$1MM 289 $26,625 $92,128
    Farmland loans - <$100k 63 $2,377 $37,730
    Farmland loans - $100-250k 123 $10,605 $86,220
    Farmland loans - $250k-1MM 103 $13,643 $132,456
    Agriculture operations loans - <$1MM 605 $32,662 $53,987
    Agriculture operations loans - <$100k 404 $8,950 $22,153
    Agriculture operations loans - $100-250k 133 $9,650 $72,556
    Agriculture operations loans - $250k-1MM 68 $14,062 $206,794