Citizens Bank Mortgage Rates, Fees & Info

CARTHAGE, TN

LEI: 254900RQ2FMUUUQUGI02

Tax ID: 62-6279815

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Bank is a smaller bank specializing in Home Purchase and Refi loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Cookeville, Shelbyville, and Mcminnville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens 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.

    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

    251

    Origination Dollar Volume (All Markets)

    $31,395,000

    Employee count

    74

    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
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 129 $19,575,000 $151,744 $0 1,111.00%
    Outside of Metro Areas 74 $7,140,000 $96,486 $0 1,111.00%
    Cookeville, TN (FHA|USDA|VA) 46 $4,370,000 $95,000 $0 1,111.00%
    Shelbyville, TN (FHA|USDA|VA) 1 $275,000 $275,000 $0 1,111.00%
    McMinnville, TN (FHA|USDA|VA) 1 $35,000 $35,000 $0 1,111.00%
    Citizens Bank's top markets include Nashville, Cookeville, Shelbyville, and Mcminnville among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 251 $31,395,000 $125,080 $0 1,111.00%

    For 2019, Citizens Bank's most frequently originated type of loan was Conventional, with 251 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 111 $17,265,000 $155,541 $0 1,111.00%
    Refi 90 $9,750,000 $108,333 $0 1,111.00%
    Other 27 $3,175,000 $117,593 $0 1,111.00%
    Home Improvement 23 $1,205,000 $52,391 $0 1,111.00%

    For 2019, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 111 originations. The 2nd most popular reason was Refi, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 251 $31,395,000 $125,080 $0 1,111.00%

    For 2019, Citizens Bank's most frequently cited loan duration was 30+ year, with 251 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 251 $31,395,000 $125,080

    Citizens Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 251 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 251 $31,395,000 $125,080

    During 2019, Citizens Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 251 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 134 $7,830,000 $58,433 $0 1,111.00%
    $100k-200k 76 $10,680,000 $140,526 $0 1,111.00%
    $200k-400k 35 $9,305,000 $265,857 $0 1,111.00%
    $400k-600k 4 $1,880,000 $470,000 $0 1,111.00%
    $1MM+ 1 $1,055,000 $1,055,000 $0 1,111.00%
    $600k-1MM 1 $645,000 $645,000 $0 1,111.00%

    2019 saw Citizens Bank place emphasis on $100,000 or less loans with 134 originations, totaling $7,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 90 $6,910,000 $76,778 $0 1,111.00%
    $50k-75k 49 $5,225,000 $106,633 $0 1,111.00%
    $75k-100k 46 $7,060,000 $153,478 $0 1,111.00%
    $100k-150k 31 $4,925,000 $158,871 $0 1,111.00%
    $150k-250k 16 $2,170,000 $135,625 $0 1,111.00%
    $250k+ 10 $2,200,000 $220,000 $0 1,111.00%

    Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 90 originations. The second most popular income band? $50k-75k, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $30,960,000 $124,839 $0 1,111.00%
    Other Asian 1 $275,000 $275,000 $0 1,111.00%
    Asian 1 $125,000 $125,000 $0 1,111.00%
    Black 1 $35,000 $35,000 $0 1,111.00%

    Approval Rates

    Total approvals of all applications
    90.49%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.61%

    Citizens Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 251 $31,395,000 $125,080

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $2,435,000 $487,000
    Single Family (1-4 Units):Manufactured 36 $2,480,000 $68,889
    Single Family (1-4 Units):Site-Built 210 $26,480,000 $126,095

    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 Bank 113 East Bockman Way Sparta, TN 38583 Full Service B&M $12,809
    Citizens Bank 325 North Spring Street Sparta, TN 38583 Full Service B&M $4,064
    Citizens Bank 407 Main Street Carthage, TN 37030 Full Service B&M $237,648
    Citizens Bank 51 East Jackson Avenue Cookeville, TN 38501 Full Service B&M $51,921
    Citizens Bank 530 Gordonsville Highway Gordonsville, TN 38563 Full Service B&M $31,558
    Citizens Bank 577 West Bockman Way Sparta, TN 38583 Full Service B&M $106,288
    Citizens Bank 61 Dixon Springs Highway Carthage, TN 37030 Full Service B&M $23,185
    Citizens Bank 70 Cookeville Highway Carthage, TN 37030 Full Service B&M $29,625

    For 2019, Citizens Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $25,588
    Net interest income $20,615
    Total noninterest income $2,436
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,038
    Trading account gains and fees $0
    Additional Noninterest Income $1,398
    Pre-tax net operating income $14,651
    Securities gains (or losses, -) $536
    Income before extraordinary items $12,554
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,554
    Minority interest net income $0
    Net income $12,554
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,109

    Citizens Bank's gross interest income from loans was $25,588,000.
    Citizens Bank's net interest income from loans was $20,615,000.
    Citizens Bank's fee based income from loans was $1,038,000.
    Citizens Bank's net income from loans was $12,554,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,973
    Provision for credit losses $380
    Total noninterest expense $8,020
    Salaries and employee benefits $4,569
    Premises and equipment expense $696
    Additional noninterest expense $2,755
    Applicable income taxes $2,633
    Net charge-offs $122
    Cash dividends $8,610

    Citizens Bank's interest expense for loans was $4,973,000.
    Citizens Bank's payroll and benefits expense were $4,569,000.
    Citizens Bank's property, plant and equipment expenses $696,000.

    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 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 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $498,640
    Deposits held in domestic offices $498,640
    Deposits by Individuals, partnerships, and corporations $478,746
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $19,894
    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 $156,560
    Demand deposits $83,040
    Nontransaction accounts $342,080
    Money market deposit accounts (MMDAs) $31,467
    Other savings deposits (excluding MMDAs) $52,872
    Total time deposits $257,741
    Total time and savings deposits $415,600
    Noninterest-bearing deposits $83,040
    Interest-bearing deposits $415,600
    Retail deposits $412,578
    IRAs and Keogh plan accounts $38,374
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $622,179
    Cash & Balances due from depository institutions $28,051
    Interest-bearing balances $18,403
    Total securities $312,114
    Federal funds sold & reverse repurchase $0
    Net loans and leases $274,368
    Loan and leases loss allowance $2,090
    Trading account assets $0
    Bank premises and fixed assets $2,306
    Other real estate owned $311
    Goodwill and other intangibles $0
    All other assets $5,029

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $622,179
    Total Liabilities $503,793
    Total deposits $498,640
    Interest-bearing deposits $415,600
    Deposits held in domestic offices $498,640
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,153

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $274,368
    Loan and leases loss allowance $2,090
    Total loans and leases (domestic) $276,458
    All real estate loans $222,733
    Real estate loans in domestic offices $222,733
    Construction and development loans $31,151
    Residential 1-4 family construction $9,804
    Other construction, all land development and other land $21,347
    Loans secured by nonfarm nonresidential properties $99,481
    Nonfarm nonresidential secured by owner-occupied properties $11,855
    Commercial real estate & other non-farm, non-residential $87,626
    Multifamily residential real estate $9,988
    1-4 family residential loans $74,581
    Farmland loans $7,532
    Loans held in foreign offices $0
    Farm loans $4,891
    Commercial and industrial loans $28,376
    To non-U.S. addressees $0
    Loans to individuals $19,200
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $7,048
    Other loans to individuals $12,152
    All other loans & leases $1,258
    Loans to foreign governments and official institutions $0
    Other loans $761
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Citizens Bank had $274,368,000 of loans outstanding in 2019. $222,733,000 of loans were in real estate loans. $31,151,000 of loans were in development loans. $9,988,000 of loans were in multifamily mortgage loans. $74,581,000 of loans were in 1-4 family mortgage loans. $4,891,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,048,000 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 170 $16,542 $97,306
    Nonfarm, nonresidential loans - <$100k 123 $7,585 $61,667
    Nonfarm, nonresidential loans - $100-250k 32 $3,890 $121,563
    Nonfarm, nonresidential loans - $250k-1MM 15 $5,067 $337,800
    Commercial & Industrial, US addressed loans - <$1MM 630 $27,168 $43,124
    Commercial & Industrial, US addressed loans - <$100k 528 $13,616 $25,788
    Commercial & Industrial, US addressed loans - $100-250k 81 $8,671 $107,049
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $4,881 $232,429
    Farmland loans - <$1MM 145 $7,532 $51,945
    Farmland loans - <$100k 145 $7,532 $51,945
    Agriculture operations loans - <$1MM 259 $4,891 $18,884
    Agriculture operations loans - <$100k 259 $4,891 $18,884