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 Refi and Home Purchase loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Cookeville, Mcminnville, Crossville, and Shelbyville among others. We have data for 7 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    332

    Origination Dollar Volume (All Markets)

    $53,100,000

    Employee count

    73

    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) 171 $28,585,000 $167,164 $0 0.00%
    Outside of Metro Areas 90 $12,650,000 $140,556 $0 0.00%
    Cookeville, TN (FHA|USDA|VA) 58 $9,840,000 $169,655 $0 0.00%
    McMinnville, TN (FHA|USDA|VA) 8 $1,290,000 $161,250 $0 0.00%
    Crossville, TN (FHA|USDA|VA) 2 $380,000 $190,000 $0 0.00%
    Shelbyville, TN (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Citizens Bank's top markets include Nashville, Cookeville, Mcminnville, Crossville, and Shelbyville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 332 $53,100,000 $159,940 $0 0.00%

    For 2021, Citizens Bank's most frequently originated type of loan was Conventional, with 332 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 157 $25,295,000 $161,115 $0 0.00%
    Home Purchase 138 $23,640,000 $171,304 $0 0.00%
    Other 17 $2,005,000 $117,941 $0 0.00%
    Home Improvement 14 $1,140,000 $81,429 $0 0.00%
    NA 6 $1,020,000 $170,000 $0 0.00%

    For 2021, Citizens Bank's most frequently cited loan purpose was Refi, with 157 originations. The 2nd most popular reason was Home Purchase, with 138 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 332 $53,100,000 $159,940 $0 0.00%

    For 2021, Citizens Bank's most frequently cited loan duration was Other, with 332 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 120 $17,230,000 $143,583 $0 0.00%
    $100,000 or less 108 $6,530,000 $60,463 $0 0.00%
    $200k-400k 97 $25,575,000 $263,660 $0 0.00%
    $400k-600k 5 $2,245,000 $449,000 $0 0.00%
    $600k-1MM 2 $1,520,000 $760,000 $0 0.00%

    2021 saw Citizens Bank place emphasis on $100k-200k loans with 120 originations, totaling $17,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 99 $10,155,000 $102,576 $0 0.00%
    $50k-75k 78 $12,320,000 $157,949 $0 0.00%
    $100k-150k 55 $10,935,000 $198,818 $0 0.00%
    $75k-100k 50 $8,550,000 $171,000 $0 0.00%
    $150k-250k 22 $4,350,000 $197,727 $0 0.00%
    $250k+ 14 $3,160,000 $225,714 $0 0.00%

    Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 99 originations. The second most popular income band? $50k-75k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 332 $53,100,000 $159,940 $0 0.00%

    Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 332 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 324 $50,840,000 $156,914 $0 0.00%
    Not applicable 7 $1,735,000 $247,857 $0 0.00%
    American Indian 1 $525,000 $525,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.49%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.69%

    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
    Exempt 332 $53,100,000 $159,940

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    332 $53,100,000 $159,940

    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 Bank 113 East Bockman Way Sparta, TN 38583 Full Service B&M $15,564
    Citizens Bank 325 North Spring Street Sparta, TN 38583 Full Service B&M $4,939
    Citizens Bank 407 Main Street Carthage, TN 37030 Full Service B&M $280,487
    Citizens Bank 51 East Jackson Avenue Cookeville, TN 38501 Full Service B&M $66,147
    Citizens Bank 530 Gordonsville Highway Gordonsville, TN 38563 Full Service B&M $37,246
    Citizens Bank 577 West Bockman Way Sparta, TN 38583 Full Service B&M $129,154
    Citizens Bank 61 Dixon Springs Highway Carthage, TN 37030 Full Service B&M $27,365
    Citizens Bank 70 Cookeville Highway Carthage, TN 37030 Full Service B&M $34,966

    For 2021, Citizens Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,344
    Net interest income $25,122
    Total noninterest income $2,912
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $702
    Trading account gains and fees $0
    Additional Noninterest Income $2,210
    Pre-tax net operating income $19,565
    Securities gains (or losses, -) $51
    Income before extraordinary items $16,551
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,551
    Minority interest net income $0
    Net income $16,551
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,508

    Citizens Bank's gross interest income from loans was $27,344,000.
    Citizens Bank's net interest income from loans was $25,122,000.
    Citizens Bank's fee based income from loans was $702,000.
    Citizens Bank's net income from loans was $16,551,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,222
    Provision for credit losses $399
    Total noninterest expense $8,070
    Salaries and employee benefits $4,697
    Premises and equipment expense $716
    Additional noninterest expense $2,657
    Applicable income taxes $3,065
    Net charge-offs $87
    Cash dividends $9,211

    Citizens Bank's interest expense for loans was $2,222,000.
    Citizens Bank's payroll and benefits expense were $4,697,000.
    Citizens Bank's property, plant and equipment expenses $716,000.

    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 $621,033
    Deposits held in domestic offices $621,033
    Deposits by Individuals, partnerships, and corporations $596,630
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $24,403
    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 $225,862
    Demand deposits $132,520
    Nontransaction accounts $395,171
    Money market deposit accounts (MMDAs) $46,034
    Other savings deposits (excluding MMDAs) $79,988
    Total time deposits $269,149
    Total time and savings deposits $488,513
    Noninterest-bearing deposits $132,520
    Interest-bearing deposits $488,513
    Retail deposits $518,387
    IRAs and Keogh plan accounts $41,121
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $763,412
    Cash & Balances due from depository institutions $25,230
    Interest-bearing balances $9,746
    Total securities $427,286
    Federal funds sold & reverse repurchase $0
    Net loans and leases $302,415
    Loan and leases loss allowance $3,351
    Trading account assets $0
    Bank premises and fixed assets $2,116
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,365

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $763,412
    Total Liabilities $625,477
    Total deposits $621,033
    Interest-bearing deposits $488,513
    Deposits held in domestic offices $621,033
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $4,444

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $302,415
    Loan and leases loss allowance $3,351
    Total loans and leases (domestic) $305,766
    All real estate loans $233,687
    Real estate loans in domestic offices $233,687
    Construction and development loans $34,933
    Residential 1-4 family construction $15,474
    Other construction, all land development and other land $19,459
    Loans secured by nonfarm nonresidential properties $111,399
    Nonfarm nonresidential secured by owner-occupied properties $18,833
    Commercial real estate & other non-farm, non-residential $92,566
    Multifamily residential real estate $9,460
    1-4 family residential loans $64,186
    Farmland loans $13,709
    Loans held in foreign offices $0
    Farm loans $3,887
    Commercial and industrial loans $38,529
    To non-U.S. addressees $0
    Loans to individuals $28,668
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $6,468
    Other loans to individuals $22,200
    All other loans & leases $995
    Loans to foreign governments and official institutions $0
    Other loans $675
    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 $302,415,000 of loans outstanding in 2021. $233,687,000 of loans were in real estate loans. $34,933,000 of loans were in development loans. $9,460,000 of loans were in multifamily mortgage loans. $64,186,000 of loans were in 1-4 family mortgage loans. $3,887,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,468,000 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 131 $11,882 $90,702
    Nonfarm, nonresidential loans - <$100k 92 $5,571 $60,554
    Nonfarm, nonresidential loans - $100-250k 28 $3,190 $113,929
    Nonfarm, nonresidential loans - $250k-1MM 11 $3,121 $283,727
    Commercial & Industrial, US addressed loans - <$1MM 551 $20,905 $37,940
    Commercial & Industrial, US addressed loans - <$100k 469 $10,873 $23,183
    Commercial & Industrial, US addressed loans - $100-250k 67 $6,891 $102,851
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $3,141 $209,400
    Farmland loans - <$1MM 139 $13,709 $98,626
    Farmland loans - <$100k 139 $13,709 $98,626
    Agriculture operations loans - <$1MM 238 $3,887 $16,332
    Agriculture operations loans - <$100k 238 $3,887 $16,332