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 Refi, Cash Out Refi, and Home Purchase loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Bloomington, Warsaw, Terre Haute, and South Bend among others. We have data for 6 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 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.

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

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    Originations

    390

    Origination Dollar Volume (All Markets)

    $69,090,000

    Employee count

    129

    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) 379 $67,065,000 $176,953 $0 0.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 5 $1,165,000 $233,000 $0 0.00%
    Warsaw, IN (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Outside of Metro Areas 1 $55,000 $55,000 $0 0.00%
    Citizens Bank's top markets include Indianapolis, Bloomington, Warsaw, Terre Haute, and South Bend among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 390 $69,090,000 $177,154 $0 0.00%

    For 2020, Citizens Bank's most frequently originated type of loan was Conventional, with 390 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 167 $30,845,000 $184,701 $0 0.00%
    Cash Out Refi 114 $18,270,000 $160,263 $0 0.00%
    Home Purchase 87 $17,915,000 $205,920 $0 0.00%
    Other 18 $1,960,000 $108,889 $0 0.00%
    Home Improvement 4 $100,000 $25,000 $0 0.00%

    For 2020, Citizens Bank's most frequently cited loan purpose was Refi, with 167 originations. The 2nd most popular reason was Cash Out Refi, with 114 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 390 $69,090,000 $177,154 $0 0.00%

    For 2020, Citizens Bank's most frequently cited loan duration was Other, with 390 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 184 $26,640,000 $144,783 $0 0.00%
    $200k-400k 107 $28,675,000 $267,991 $0 0.00%
    $100,000 or less 84 $6,030,000 $71,786 $0 0.00%
    $400k-600k 12 $5,540,000 $461,667 $0 0.00%
    $600k-1MM 3 $2,205,000 $735,000 $0 0.00%

    2020 saw Citizens Bank place emphasis on $100k-200k loans with 184 originations, totaling $26,640,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 105 $20,165,000 $192,048 $0 0.00%
    $50k-75k 78 $11,530,000 $147,821 $0 0.00%
    $75k-100k 74 $12,400,000 $167,568 $0 0.00%
    $50k or less 57 $6,305,000 $110,614 $0 0.00%
    $150k-250k 39 $9,175,000 $235,256 $0 0.00%
    $250k+ 22 $5,990,000 $272,273 $0 0.00%

    Citizens Bank lent most frequently to those with incomes in the $100k-150k range, with 105 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% 390 $69,090,000 $177,154 $0 0.00%

    Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 390 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 376 $65,550,000 $174,335 $0 0.00%
    Not applicable 9 $2,665,000 $296,111 $0 0.00%
    Asian 4 $640,000 $160,000 $0 0.00%
    American Indian 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.42%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.95%

    Citizens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 390 $69,090,000 $177,154

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $980,000 $490,000
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 387 $68,005,000 $175,724

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 35 12.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 13 4.7%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Credit monitoring or identity theft protection services 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 5 1.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 26 9.5%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 109 39.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 2.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 20 7.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.5%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 11 4.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 4 1.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens Bank 10503 Heartland Boulevard Camby, IN 46113 Full Service B&M $23,913
    Citizens Bank 1098 State Road 39 By-Pass Martinsville, IN 46151 Full Service B&M $56,224
    Citizens Bank 1360 East Morgan Street Martinsville, IN 46151 Full Service B&M $23,298
    Citizens Bank 2334 East County Line Road South Indianapolis, IN 46227 Full Service B&M $26,946
    Citizens Bank 2402 East Main Street Plainfield, IN 46168 Full Service B&M $34,881
    Citizens Bank 33 North Indiana Street Mooresville, IN 46158 Full Service B&M $228,172
    Citizens Bank 43 East Washington Street Monrovia, IN 46157 Full Service B&M $44,237
    Citizens Bank 99 S. Dan Jones Road Avon, IN 46123 Full Service B&M $43,116
    Citizens Bank Highway 42 And Highway 142 Eminence, IN 46125 Full Service B&M $19,635

    For 2020, Citizens Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,793
    Net interest income $17,210
    Total noninterest income $4,511
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $744
    Trading account gains and fees $0
    Additional Noninterest Income $3,767
    Pre-tax net operating income $6,774
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,342
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,342
    Minority interest net income $0
    Net income $5,342
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,342

    Citizens Bank's gross interest income from loans was $18,793,000.
    Citizens Bank's net interest income from loans was $17,210,000.
    Citizens Bank's fee based income from loans was $744,000.
    Citizens Bank's net income from loans was $5,342,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,583
    Provision for credit losses $225
    Total noninterest expense $14,722
    Salaries and employee benefits $8,750
    Premises and equipment expense $1,299
    Additional noninterest expense $4,673
    Applicable income taxes $1,432
    Net charge-offs $196
    Cash dividends $1,121

    Citizens Bank's interest expense for loans was $1,583,000.
    Citizens Bank's payroll and benefits expense were $8,750,000.
    Citizens Bank's property, plant and equipment expenses $1,299,000.

    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 $523,001
    Deposits held in domestic offices $523,001
    Deposits by Individuals, partnerships, and corporations $410,627
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $111,486
    Deposits by Commercial banks and other depository institutions in U.S. $885
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $78,363
    Demand deposits $61,212
    Nontransaction accounts $444,638
    Money market deposit accounts (MMDAs) $76,633
    Other savings deposits (excluding MMDAs) $302,660
    Total time deposits $65,344
    Total time and savings deposits $461,789
    Noninterest-bearing deposits $127,945
    Interest-bearing deposits $395,056
    Retail deposits $499,224
    IRAs and Keogh plan accounts $17,282
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $588,830
    Cash & Balances due from depository institutions $92,272
    Interest-bearing balances $86,815
    Total securities $107,528
    Federal funds sold & reverse repurchase $0
    Net loans and leases $375,082
    Loan and leases loss allowance $4,709
    Trading account assets $0
    Bank premises and fixed assets $9,097
    Other real estate owned $0
    Goodwill and other intangibles $562
    All other assets $4,289

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $588,830
    Total Liabilities $526,384
    Total deposits $523,001
    Interest-bearing deposits $395,056
    Deposits held in domestic offices $523,001
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,383

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $375,082
    Loan and leases loss allowance $4,709
    Total loans and leases (domestic) $379,791
    All real estate loans $151,059
    Real estate loans in domestic offices $151,059
    Construction and development loans $1,210
    Residential 1-4 family construction $829
    Other construction, all land development and other land $381
    Loans secured by nonfarm nonresidential properties $97,225
    Nonfarm nonresidential secured by owner-occupied properties $46,728
    Commercial real estate & other non-farm, non-residential $50,497
    Multifamily residential real estate $2,539
    1-4 family residential loans $47,506
    Farmland loans $2,579
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $26,367
    To non-U.S. addressees $0
    Loans to individuals $201,402
    Credit card loans $0
    Related Plans $269
    Consumer Auto Loans $102,120
    Other loans to individuals $99,013
    All other loans & leases $963
    Loans to foreign governments and official institutions $0
    Other loans $101
    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 $1,434
    Non 1-4 family restructured loans & leases $904
    Total loans and leases (foreign) $0

    Citizens Bank had $375,082,000 of loans outstanding in 2020. $151,059,000 of loans were in real estate loans. $1,210,000 of loans were in development loans. $2,539,000 of loans were in multifamily mortgage loans. $47,506,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $102,120,000 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 345 $56,884 $164,881
    Nonfarm, nonresidential loans - <$100k 110 $5,340 $48,545
    Nonfarm, nonresidential loans - $100-250k 134 $16,004 $119,433
    Nonfarm, nonresidential loans - $250k-1MM 101 $35,540 $351,881
    Commercial & Industrial, US addressed loans - <$1MM 147 $9,362 $63,687
    Commercial & Industrial, US addressed loans - <$100k 88 $1,906 $21,659
    Commercial & Industrial, US addressed loans - $100-250k 44 $4,630 $105,227
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $2,826 $188,400
    Farmland loans - <$1MM 8 $1,068 $133,500
    Farmland loans - <$100k 1 $27 $27,000
    Farmland loans - $100-250k 5 $808 $161,600
    Farmland loans - $250k-1MM 2 $233 $116,500