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, Terre Haute, and Tampa among others. We have data for 3 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

    209

    Origination Dollar Volume (All Markets)

    $32,315,000

    Employee count

    124

    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) 206 $31,820,000 $154,466 $0 0.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    Citizens Bank's top markets include Indianapolis, Terre Haute, and Tampa among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 209 $32,315,000 $154,617 $0 0.00%

    For 2019, Citizens Bank's most frequently originated type of loan was Conventional, with 209 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 73 $14,105,000 $193,219 $0 0.00%
    Cash Out Refi 63 $10,735,000 $170,397 $0 0.00%
    Refi 38 $5,370,000 $141,316 $0 0.00%
    Other 23 $1,185,000 $51,522 $0 0.00%
    Home Improvement 12 $920,000 $76,667 $0 0.00%

    For 2019, Citizens Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 209 $32,315,000 $154,617 $0 0.00%

    For 2019, Citizens Bank's most frequently cited loan duration was Other, with 209 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 82 $4,450,000 $54,268 $0 0.00%
    $100k-200k 76 $10,990,000 $144,605 $0 0.00%
    $200k-400k 43 $11,065,000 $257,326 $0 0.00%
    $400k-600k 6 $2,750,000 $458,333 $0 0.00%
    $1MM+ 1 $2,085,000 $2,085,000 $0 0.00%
    $600k-1MM 1 $975,000 $975,000 $0 0.00%

    2019 saw Citizens Bank place emphasis on $100,000 or less loans with 82 originations, totaling $4,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 57 $5,745,000 $100,789 $0 0.00%
    $75k-100k 45 $6,995,000 $155,444 $0 0.00%
    $50k-75k 38 $4,500,000 $118,421 $0 0.00%
    $100k-150k 33 $5,735,000 $173,788 $0 0.00%
    $150k-250k 18 $3,770,000 $209,444 $0 0.00%
    $250k+ 10 $1,320,000 $132,000 $0 0.00%

    Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 57 originations. The second most popular income band? $75k-100k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 209 $32,315,000 $154,617 $0 0.00%

    Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 209 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 194 $26,810,000 $138,196 $0 0.00%
    Not applicable 6 $4,020,000 $670,000 $0 0.00%
    Asian 6 $990,000 $165,000 $0 0.00%
    Black 2 $470,000 $235,000 $0 0.00%
    Not provided 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.11%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.51%

    Citizens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 209 $32,315,000 $154,617

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $2,630,000 $1,315,000
    Single Family (1-4 Units):Manufactured 2 $100,000 $50,000
    Single Family (1-4 Units):Site-Built 205 $29,585,000 $144,317

    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 10503 Heartland Boulevard Camby, IN 46113 Full Service B&M $22,765
    Citizens Bank 1098 State Road 39 By-Pass Martinsville, IN 46151 Full Service B&M $50,104
    Citizens Bank 1360 East Morgan Street Martinsville, IN 46151 Full Service B&M $17,126
    Citizens Bank 2334 East County Line Road South Indianapolis, IN 46227 Full Service B&M $26,456
    Citizens Bank 2402 East Main Street Plainfield, IN 46168 Full Service B&M $29,249
    Citizens Bank 33 North Indiana Street Mooresville, IN 46158 Full Service B&M $208,929
    Citizens Bank 43 East Washington Street Monrovia, IN 46157 Full Service B&M $38,808
    Citizens Bank 99 S. Dan Jones Road Avon, IN 46123 Full Service B&M $19,987
    Citizens Bank Highway 42 And Highway 142 Eminence, IN 46125 Full Service B&M $18,802

    For 2019, Citizens Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,675
    Net interest income $16,427
    Total noninterest income $3,813
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $992
    Trading account gains and fees $0
    Additional Noninterest Income $2,821
    Pre-tax net operating income $6,902
    Securities gains (or losses, -) $-58
    Income before extraordinary items $5,339
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,339
    Minority interest net income $0
    Net income $5,339
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,384

    Citizens Bank's gross interest income from loans was $18,675,000.
    Citizens Bank's net interest income from loans was $16,427,000.
    Citizens Bank's fee based income from loans was $992,000.
    Citizens Bank's net income from loans was $5,339,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,248
    Provision for credit losses $-216
    Total noninterest expense $13,554
    Salaries and employee benefits $7,957
    Premises and equipment expense $1,148
    Additional noninterest expense $4,449
    Applicable income taxes $1,505
    Net charge-offs $36
    Cash dividends $936

    Citizens Bank's interest expense for loans was $2,248,000.
    Citizens Bank's payroll and benefits expense were $7,957,000.
    Citizens Bank's property, plant and equipment expenses $1,148,000.

    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 $429,624
    Deposits held in domestic offices $429,624
    Deposits by Individuals, partnerships, and corporations $341,848
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $87,026
    Deposits by Commercial banks and other depository institutions in U.S. $747
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $43,286
    Demand deposits $24,712
    Nontransaction accounts $386,338
    Money market deposit accounts (MMDAs) $69,412
    Other savings deposits (excluding MMDAs) $250,268
    Total time deposits $66,658
    Total time and savings deposits $404,912
    Noninterest-bearing deposits $97,505
    Interest-bearing deposits $332,119
    Retail deposits $408,796
    IRAs and Keogh plan accounts $18,215
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $486,622
    Cash & Balances due from depository institutions $22,683
    Interest-bearing balances $17,647
    Total securities $101,279
    Federal funds sold & reverse repurchase $0
    Net loans and leases $350,263
    Loan and leases loss allowance $4,680
    Trading account assets $0
    Bank premises and fixed assets $8,035
    Other real estate owned $100
    Goodwill and other intangibles $478
    All other assets $3,784

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $486,622
    Total Liabilities $431,412
    Total deposits $429,624
    Interest-bearing deposits $332,119
    Deposits held in domestic offices $429,624
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,788

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $350,263
    Loan and leases loss allowance $4,680
    Total loans and leases (domestic) $354,943
    All real estate loans $142,160
    Real estate loans in domestic offices $142,160
    Construction and development loans $2,569
    Residential 1-4 family construction $1,027
    Other construction, all land development and other land $1,542
    Loans secured by nonfarm nonresidential properties $90,969
    Nonfarm nonresidential secured by owner-occupied properties $41,427
    Commercial real estate & other non-farm, non-residential $49,542
    Multifamily residential real estate $4,422
    1-4 family residential loans $41,295
    Farmland loans $2,905
    Loans held in foreign offices $0
    Farm loans $128
    Commercial and industrial loans $11,036
    To non-U.S. addressees $0
    Loans to individuals $201,342
    Credit card loans $0
    Related Plans $326
    Consumer Auto Loans $108,264
    Other loans to individuals $92,752
    All other loans & leases $276
    Loans to foreign governments and official institutions $0
    Other loans $145
    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 $25
    Non 1-4 family restructured loans & leases $25
    Total loans and leases (foreign) $0

    Citizens Bank had $350,263,000 of loans outstanding in 2019. $142,160,000 of loans were in real estate loans. $2,569,000 of loans were in development loans. $4,422,000 of loans were in multifamily mortgage loans. $41,295,000 of loans were in 1-4 family mortgage loans. $128,000 of loans were in farm loans. $0 of loans were in credit card loans. $108,264,000 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 344 $54,063 $157,160
    Nonfarm, nonresidential loans - <$100k 123 $5,807 $47,211
    Nonfarm, nonresidential loans - $100-250k 120 $13,985 $116,542
    Nonfarm, nonresidential loans - $250k-1MM 101 $34,271 $339,317
    Commercial & Industrial, US addressed loans - <$1MM 156 $10,879 $69,737
    Commercial & Industrial, US addressed loans - <$100k 94 $2,339 $24,883
    Commercial & Industrial, US addressed loans - $100-250k 43 $4,134 $96,140
    Commercial & Industrial, US addressed loans - $250k-1MM 19 $4,406 $231,895
    Farmland loans - <$1MM 8 $760 $95,000
    Farmland loans - <$100k 2 $77 $38,500
    Farmland loans - $100-250k 4 $421 $105,250
    Farmland loans - $250k-1MM 2 $262 $131,000
    Agriculture operations loans - <$1MM 1 $128 $128,000
    Agriculture operations loans - $100-250k 1 $128 $128,000