Citizens Bank Mortgage Rates, Fees & Info

Mukwonago, WI

LEI: 5493002FSR6V2NM1K863

Tax ID: 39-0210030

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Citizens Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Citizens Bank has a high proportion of conventional loans. Their top markets include Milwaukee, Whitewater, Racine, Watertown, and Fond Du Lac among others. Citizens Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Citizens Bank is typically a low fee lendor.


Originations

557

Origination Dollar Volume (All Markets)

$145,605,000

Employee count

160

Awards

Citizens Bank 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Citizens Bank's average 30 year fixed rate mortgage of loans were 3.07%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.08%.

Relative Fees

Citizens Bank's average total fees for a 30 year fixed rate mortgage are $2,969.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 343 $96,255,000 $280,627 $2,151 2.95%
Whitewater, WI (FHA|USDA|VA) 112 $23,980,000 $214,107 $2,301 2.91%
RACINE, WI (FHA|USDA|VA) 61 $14,455,000 $236,967 $2,486 2.92%
Outside of Metro Areas 16 $5,290,000 $330,625 $2,338 3.11%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 14 $2,460,000 $175,714 $2,040 3.03%
FOND DU LAC, WI (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 3.98%
MADISON, WI (FHA|USDA|VA) 4 $670,000 $167,500 $2,890 3.13%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $355,000 $355,000 $3,367 3.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $205,000 $205,000 $2,531 3.25%
Beaver Dam, WI (FHA|USDA|VA) 2 $130,000 $65,000 $2,888 4.06%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $115,000 $115,000 $2,081 2.50%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.13%

Citizens Bank's top markets include Milwaukee, Whitewater, Racine, Watertown, and Fond Du Lac among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 557 $145,605,000 $261,409 $2,234 2.95%

For the 2021 period, Citizens Bank's most frequently originated loan type of loans were Conventional, with 557 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 228 $52,180,000 $228,860 $1,457 2.81%
Cash Out Refi 164 $34,660,000 $211,341 $2,650 2.83%
Home Purchase 141 $54,835,000 $388,901 $3,323 3.22%
Home Improvement 15 $2,885,000 $192,333 $1,071 3.82%
Other 9 $1,045,000 $116,111 $1,779 3.15%

For the 2021, Citizens Bank's most frequently cited loan purpose of loans were Refi, with 228 originations. The 2nd most popular reason of loans were Cash Out Refi, with 164 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 269 $61,185,000 $227,454 $2,969 3.07%
15 Year 127 $23,115,000 $182,008 $1,429 2.55%
Other 64 $16,540,000 $258,438 $1,959 2.95%
20 Year 36 $6,260,000 $173,889 $1,668 3.21%
10 Year 35 $5,485,000 $156,714 $1,136 2.61%
5 Year 19 $31,215,000 $1,642,895 $0 3.76%
1 Year 5 $1,465,000 $293,000 $2,168 4.22%
3 Year 2 $340,000 $170,000 $0 3.90%

For the 2021, Citizens Bank's most frequently cited loan length of loans were 30 Year, with 269 originations. The 2nd most popular length of loans were 15 Year, with 127 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 247 $43,745,000 $177,105
$1k-2k 162 $38,460,000 $237,407
$2k-3k 39 $8,545,000 $219,103
$3k-4k 26 $7,000,000 $269,231
$5k+ 16 $6,250,000 $390,625

$2,969 of loans were Citizens Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 247 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 272 $55,170,000 $202,831
3-4% 163 $66,825,000 $409,969
<2.5% 104 $19,250,000 $185,096
4-5% 12 $2,910,000 $242,500
5-6% 3 $1,245,000 $415,000
6-7% 3 $205,000 $68,333

During 2021, Citizens Bank's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 2.5-3%, with 272 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 243 $37,155,000 $152,901 $1,752 2.86%
$200k-400k 195 $52,065,000 $267,000 $2,661 2.94%
$100,000 or less 66 $4,640,000 $70,303 $1,148 3.08%
$400k-600k 38 $17,720,000 $466,316 $4,563 3.04%
$1MM+ 10 $30,030,000 $3,003,000 $2,766 3.90%
$600k-1MM 5 $3,995,000 $799,000 $0 3.68%

2021 saw Citizens Bank place emphasis on $100k-200k loans with 243 originations, totaling $37,155,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 133 $21,305,000 $160,188 $2,026 3.01%
$100k-150k 121 $27,385,000 $226,322 $2,363 2.87%
$75k-100k 99 $18,945,000 $191,364 $2,021 2.86%
$150k-250k 75 $19,775,000 $263,667 $2,437 2.83%
$50k or less 57 $7,645,000 $134,123 $1,969 3.08%
$250k+ 36 $13,050,000 $362,500 $3,205 2.87%

Citizens Bank lent most frequently to those with incomes in the $50k-75k range, with 133 originations. The second most popular income band? $100k-150k, with 121 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 176 $36,570,000 $207,784 $2,107 2.87%
<20% 109 $22,245,000 $204,083 $1,837 2.79%
30-36% 89 $19,245,000 $216,236 $2,194 2.93%
39% 16 $2,690,000 $168,125 $1,668 3.09%
42% 14 $2,660,000 $190,000 $3,265 3.11%
37% 14 $3,150,000 $225,000 $3,045 2.79%
41% 14 $2,320,000 $165,714 $2,090 2.93%
47% 14 $2,660,000 $190,000 $2,389 2.81%
38% 13 $2,325,000 $178,846 $2,312 2.85%
36% 11 $2,445,000 $222,273 $2,254 3.00%
44% 11 $2,175,000 $197,727 $3,411 3.03%
40% 10 $1,910,000 $191,000 $2,557 2.91%
43% 9 $1,835,000 $203,889 $2,801 3.43%
46% 8 $1,730,000 $216,250 $3,733 3.39%
49% 7 $1,565,000 $223,571 $2,789 3.00%
45% 7 $2,125,000 $303,571 $5,218 3.14%
48% 6 $1,270,000 $211,667 $1,566 3.13%
50-60% 3 $985,000 $328,333 $2,748 3.38%
>60% 2 $340,000 $170,000 $0 3.90%

Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? <20%, with 109 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 516 $107,420,000 $208,178 $2,268 2.91%
Not applicable 23 $35,175,000 $1,529,348 $0 3.86%
Not provided 12 $1,950,000 $162,500 $1,241 3.19%
Asian 3 $545,000 $181,667 $978 2.71%
American Indian 2 $410,000 $205,000 $718 2.75%
Black 1 $105,000 $105,000 $0 3.13%

Approval Rates

Total approvals of all applications
91.40%

Citizens Bank has an average approval rate.

Pick Rate

Approvals leading to origination
85.67%

Citizens Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 557 $145,605,000 $261,409

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
557 $145,605,000 $261,409

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 67 $8,855,000 $132,164 $1,271 2.79%
40-60% 186 $41,510,000 $223,172 $1,593 2.81%
60-80% 231 $77,105,000 $333,788 $2,857 3.03%
80-100% 56 $15,300,000 $273,214 $3,711 3.09%
Under 20% 17 $2,835,000 $166,765 $952 3.72%

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 1010 North Rochester Street Mukwonago, WI 53149 Full Service Retail $9,065
Citizens Bank 12455 W. Janesville Rd Muskego, WI 53150 Limited, Mobile/Seasonal Office $0
Citizens Bank 2109 Corporate Drive Waukesha, WI 53189 Full Service B&M $46,809
Citizens Bank 2541a Main Street East Troy, WI 53120 Full Service B&M $44,591
Citizens Bank 301 North Rochester Mukwonago, WI 53149 Full Service B&M $344,930
Citizens Bank 3238 West Main Street East Troy, WI 53120 Full Service Retail $41,941
Citizens Bank 5450 South Moorland Road New Berlin, WI 53151 Full Service B&M $46,510
Citizens Bank 841 County Nn East Mukwonago, WI 53149 Limited, Mobile/Seasonal Office $0
Citizens Bank 875 South Rochester Street Mukwonago, WI 53149 Full Service B&M $23,089
Citizens Bank S74 W17005 South Janesville Road Muskego, WI 53150 Full Service Retail $17,566
Citizens Bank S90 W35680 Highway Nn Eagle, WI 53119 Full Service B&M $46,476
Citizens Bank W181 S8540 Lodge Boulevard Muskego, WI 53150 Limited, Mobile/Seasonal Office $0
Citizens Bank W230 S9125 Clark Street Big Bend, WI 53103 Full Service B&M $109,650
Citizens Bank W236 S7050 Big Bend Drive Big Bend, WI 53103 Full Service B&M $77,863
Citizens Bank W307n4823 Hwy 83 Mukwonago, WI 53149 Full Service B&M $60,295

For 2021, Citizens Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $32,836
Net interest income $30,707
Total noninterest income $8,283
Gross Fiduciary activities income $0
Service charges on deposit accounts $716
Trading account gains and fees $0
Additional Noninterest Income $7,567
Pre-tax net operating income $15,610
Securities gains (or losses, -) $0
Income before extraordinary items $11,430
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $11,430
Minority interest net income $0
Net income $11,430
Sale, conversion, retirement of capital stock, net $0
Net operating income $11,430

Citizens Bank's gross interest income from loans was $32,836,000.
Citizens Bank's net interest income from loans was $30,707,000.
Citizens Bank's fee based income from loans was $716,000.
Citizens Bank's net income from loans was $11,430,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,129
Provision for credit losses $1,200
Total noninterest expense $22,180
Salaries and employee benefits $14,998
Premises and equipment expense $1,883
Additional noninterest expense $5,299
Applicable income taxes $4,180
Net charge-offs $-22
Cash dividends $3,200

Citizens Bank's interest expense for loans was $2,129,000.
Citizens Bank's payroll and benefits expense were $14,998,000.
Citizens Bank's property, plant and equipment expenses $1,883,000.

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 $899,249
Deposits held in domestic offices $899,249
Deposits by Individuals, partnerships, and corporations $825,094
Deposits by U.S. Government $2
Deposits by States and political subdivisions in the U.S. $74,153
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 $332,877
Demand deposits $255,924
Nontransaction accounts $566,372
Money market deposit accounts (MMDAs) $242,877
Other savings deposits (excluding MMDAs) $195,652
Total time deposits $127,845
Total time and savings deposits $643,325
Noninterest-bearing deposits $252,607
Interest-bearing deposits $646,642
Retail deposits $883,632
IRAs and Keogh plan accounts $34,303
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,026,808
Cash & Balances due from depository institutions $136,066
Interest-bearing balances $127,989
Total securities $255,345
Federal funds sold & reverse repurchase $0
Net loans and leases $600,944
Loan and leases loss allowance $7,928
Trading account assets $0
Bank premises and fixed assets $8,578
Other real estate owned $0
Goodwill and other intangibles $2,522
All other assets $23,353

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,026,808
Total Liabilities $905,472
Total deposits $899,249
Interest-bearing deposits $646,642
Deposits held in domestic offices $899,249
% insured (estimated) $78
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $5,000
Subordinated debt $0
All other liabilities $1,223

Issued Loan Types

Type Value (in 000's)
Net loans and leases $600,944
Loan and leases loss allowance $7,928
Total loans and leases (domestic) $608,872
All real estate loans $552,862
Real estate loans in domestic offices $552,862
Construction and development loans $55,566
Residential 1-4 family construction $12,264
Other construction, all land development and other land $43,302
Loans secured by nonfarm nonresidential properties $361,312
Nonfarm nonresidential secured by owner-occupied properties $131,035
Commercial real estate & other non-farm, non-residential $230,277
Multifamily residential real estate $66,730
1-4 family residential loans $68,936
Farmland loans $318
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $52,627
To non-U.S. addressees $0
Loans to individuals $734
Credit card loans $0
Related Plans $22
Consumer Auto Loans $144
Other loans to individuals $568
All other loans & leases $2,649
Loans to foreign governments and official institutions $0
Other loans $2,649
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 $1,269
Non 1-4 family restructured loans & leases $1,245
Total loans and leases (foreign) $0

Citizens Bank had $600,944,000 of loans outstanding in 2021. $552,862,000 of loans were in real estate loans. $55,566,000 of loans were in development loans. $66,730,000 of loans were in multifamily mortgage loans. $68,936,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $144,000 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 343 $87,660 $255,569
Nonfarm, nonresidential loans - <$100k 50 $1,544 $30,880
Nonfarm, nonresidential loans - $100-250k 97 $12,061 $124,340
Nonfarm, nonresidential loans - $250k-1MM 196 $74,055 $377,832
Commercial & Industrial, US addressed loans - <$1MM 273 $22,346 $81,853
Commercial & Industrial, US addressed loans - <$100k 160 $3,345 $20,906
Commercial & Industrial, US addressed loans - $100-250k 57 $4,977 $87,316
Commercial & Industrial, US addressed loans - $250k-1MM 56 $14,024 $250,429
Farmland loans - <$1MM 2 $318 $159,000
Farmland loans - $100-250k 2 $318 $159,000