Citizens Bank Mortgage Rates, Fees & Info

Mooresville, IN

LEI: 549300CABYW2DE2UTD57

Tax ID: 35-0227210

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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 Cash Out Refi loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Bloomington, Terre Haute, and Crawfordsville 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 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

    180

    Origination Dollar Volume (All Markets)

    $31,690,000

    Employee count

    125

    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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 174 $31,060,000 $178,506 $0 0.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
    Crawfordsville, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Outside of Metro Areas 1 $25,000 $25,000 $0 0.00%
    Citizens Bank's top markets include Indianapolis, Bloomington, Terre Haute, and Crawfordsville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 180 $31,690,000 $176,056 $0 0.00%

    For 2018, Citizens Bank's most frequently originated type of loan was Conventional, with 180 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 95 $16,025,000 $168,684 $0 0.00%
    Cash Out Refi 45 $9,155,000 $203,444 $0 0.00%
    Other 17 $915,000 $53,824 $0 0.00%
    Refi 13 $1,995,000 $153,462 $0 0.00%
    Home Improvement 9 $415,000 $46,111 $0 0.00%
    NA 1 $3,185,000 $3,185,000 $0 0.00%

    For 2018, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 180 $31,690,000 $176,056 $0 0.00%

    For 2018, Citizens Bank's most frequently cited loan duration was Other, with 180 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 80 $11,490,000 $143,625 $0 0.00%
    $100,000 or less 71 $4,245,000 $59,789 $0 0.00%
    $200k-400k 22 $5,790,000 $263,182 $0 0.00%
    $1MM+ 4 $8,840,000 $2,210,000 $0 0.00%
    $400k-600k 3 $1,325,000 $441,667 $0 0.00%

    2018 saw Citizens Bank place emphasis on $100k-200k loans with 80 originations, totaling $11,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 51 $4,995,000 $97,941 $0 0.00%
    $50k-75k 41 $5,115,000 $124,756 $0 0.00%
    $100k-150k 29 $4,265,000 $147,069 $0 0.00%
    $75k-100k 24 $3,830,000 $159,583 $0 0.00%
    $250k+ 12 $5,580,000 $465,000 $0 0.00%
    $150k-250k 10 $1,720,000 $172,000 $0 0.00%

    Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 51 originations. The second most popular income band? $50k-75k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 180 $31,690,000 $176,056 $0 0.00%

    Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 180 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 164 $25,180,000 $153,537 $0 0.00%
    Not applicable 9 $5,735,000 $637,222 $0 0.00%
    Asian 4 $540,000 $135,000 $0 0.00%
    Black 2 $120,000 $60,000 $0 0.00%
    Not provided 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.06%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.22%

    Citizens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 180 $31,690,000 $176,056

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $3,185,000 $3,185,000
    Single Family (1-4 Units):Manufactured 1 $75,000 $75,000
    Single Family (1-4 Units):Site-Built 178 $28,430,000 $159,719

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 9 5.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 5 2.9%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Improper use of your report 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 16 9.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 36 21.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 8 4.7%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 9 5.3%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 7 4.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 41 24.0%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.2%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 4 2.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 15 8.8%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 1 0.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens Bank 10503 Heartland Boulevard Camby, IN 46113 Full Service B&M $23,038
    Citizens Bank 1098 State Road 39 By-Pass Martinsville, IN 46151 Full Service B&M $54,070
    Citizens Bank 1360 East Morgan Street Martinsville, IN 46151 Full Service B&M $16,476
    Citizens Bank 2334 East County Line Road South Indianapolis, IN 46227 Full Service B&M $27,244
    Citizens Bank 2402 East Main Street Plainfield, IN 46168 Full Service B&M $26,871
    Citizens Bank 33 North Indiana Street Mooresville, IN 46158 Full Service B&M $188,851
    Citizens Bank 43 East Washington Street Monrovia, IN 46157 Full Service B&M $39,407
    Citizens Bank 99 S. Dan Jones Road Avon, IN 46123 Full Service B&M $17,672
    Citizens Bank Highway 42 And Highway 142 Eminence, IN 46125 Full Service B&M $15,384

    For 2018, Citizens Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,619
    Net interest income $16,056
    Total noninterest income $3,686
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,065
    Trading account gains and fees $0
    Additional Noninterest Income $2,621
    Pre-tax net operating income $5,499
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,291
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,291
    Minority interest net income $0
    Net income $4,291
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,291

    Citizens Bank's gross interest income from loans was $17,619,000.
    Citizens Bank's net interest income from loans was $16,056,000.
    Citizens Bank's fee based income from loans was $1,065,000.
    Citizens Bank's net income from loans was $4,291,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,563
    Provision for credit losses $570
    Total noninterest expense $13,673
    Salaries and employee benefits $7,620
    Premises and equipment expense $1,108
    Additional noninterest expense $4,945
    Applicable income taxes $1,208
    Net charge-offs $238
    Cash dividends $807

    Citizens Bank's interest expense for loans was $1,563,000.
    Citizens Bank's payroll and benefits expense were $7,620,000.
    Citizens Bank's property, plant and equipment expenses $1,108,000.

    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 2.0%
    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 $395,385
    Deposits held in domestic offices $395,385
    Deposits by Individuals, partnerships, and corporations $318,451
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $76,931
    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 $39,354
    Demand deposits $24,574
    Nontransaction accounts $356,031
    Money market deposit accounts (MMDAs) $55,620
    Other savings deposits (excluding MMDAs) $238,776
    Total time deposits $61,635
    Total time and savings deposits $370,811
    Noninterest-bearing deposits $94,715
    Interest-bearing deposits $300,670
    Retail deposits $381,300
    IRAs and Keogh plan accounts $18,767
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $480,610
    Cash & Balances due from depository institutions $6,664
    Interest-bearing balances $4,211
    Total securities $95,121
    Federal funds sold & reverse repurchase $0
    Net loans and leases $367,158
    Loan and leases loss allowance $4,932
    Trading account assets $0
    Bank premises and fixed assets $6,377
    Other real estate owned $295
    Goodwill and other intangibles $380
    All other assets $4,615

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $480,610
    Total Liabilities $432,811
    Total deposits $395,385
    Interest-bearing deposits $300,670
    Deposits held in domestic offices $395,385
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $17,883
    Trading liabilities $0
    Other borrowed funds $18,000
    Subordinated debt $0
    All other liabilities $1,543

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $367,158
    Loan and leases loss allowance $4,932
    Total loans and leases (domestic) $372,090
    All real estate loans $147,156
    Real estate loans in domestic offices $147,156
    Construction and development loans $2,585
    Residential 1-4 family construction $1,465
    Other construction, all land development and other land $1,120
    Loans secured by nonfarm nonresidential properties $93,165
    Nonfarm nonresidential secured by owner-occupied properties $41,901
    Commercial real estate & other non-farm, non-residential $51,264
    Multifamily residential real estate $4,821
    1-4 family residential loans $43,852
    Farmland loans $2,733
    Loans held in foreign offices $0
    Farm loans $138
    Commercial and industrial loans $16,662
    To non-U.S. addressees $0
    Loans to individuals $207,854
    Credit card loans $0
    Related Plans $354
    Consumer Auto Loans $121,106
    Other loans to individuals $86,394
    All other loans & leases $280
    Loans to foreign governments and official institutions $0
    Other loans $91
    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 $31
    Non 1-4 family restructured loans & leases $31
    Total loans and leases (foreign) $0

    Citizens Bank had $367,158,000 of loans outstanding in 2018. $147,156,000 of loans were in real estate loans. $2,585,000 of loans were in development loans. $4,821,000 of loans were in multifamily mortgage loans. $43,852,000 of loans were in 1-4 family mortgage loans. $138,000 of loans were in farm loans. $0 of loans were in credit card loans. $121,106,000 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 356 $56,141 $157,699
    Nonfarm, nonresidential loans - <$100k 127 $6,367 $50,134
    Nonfarm, nonresidential loans - $100-250k 127 $14,676 $115,559
    Nonfarm, nonresidential loans - $250k-1MM 102 $35,098 $344,098
    Commercial & Industrial, US addressed loans - <$1MM 193 $12,544 $64,995
    Commercial & Industrial, US addressed loans - <$100k 125 $3,027 $24,216
    Commercial & Industrial, US addressed loans - $100-250k 47 $4,663 $99,213
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $4,854 $231,143
    Farmland loans - <$1MM 6 $609 $101,500
    Farmland loans - <$100k 1 $18 $18,000
    Farmland loans - $100-250k 4 $472 $118,000
    Farmland loans - $250k-1MM 1 $119 $119,000
    Agriculture operations loans - <$1MM 1 $138 $138,000
    Agriculture operations loans - $100-250k 1 $138 $138,000