Citizens Bank Mortgage Rates, Fees & Info

Mooresville, IN

LEI: 549300CABYW2DE2UTD57

Tax ID: 35-0227210

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 Cash Out Refi, Refi, and Home Purchase loans. Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Bloomington, Terre Haute, Lafayette, and Seymour among others. We have data for 9 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

    353

    Origination Dollar Volume (All Markets)

    $63,245,000

    Employee count

    141

    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) 334 $59,800,000 $179,042 $0 0.00%
    Outside of Metro Areas 5 $1,485,000 $297,000 $0 0.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 5 $555,000 $111,000 $0 0.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 3 $435,000 $145,000 $0 0.00%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    Seymour, IN (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    North Vernon, IN (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    MUNCIE, IN (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Citizens Bank's top markets include Indianapolis, Bloomington, Terre Haute, Lafayette, and Seymour among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 353 $63,245,000 $179,164 $0 0.00%

    For 2021, Citizens Bank's most frequently originated type of loan was Conventional, with 353 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 125 $19,735,000 $157,880 $0 0.00%
    Refi 111 $21,815,000 $196,532 $0 0.00%
    Home Purchase 87 $18,845,000 $216,609 $0 0.00%
    Other 22 $2,230,000 $101,364 $0 0.00%
    Home Improvement 8 $620,000 $77,500 $0 0.00%

    For 2021, Citizens Bank's most frequently cited loan purpose was Cash Out Refi, with 125 originations. The 2nd most popular reason was Refi, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 353 $63,245,000 $179,164 $0 0.00%

    For 2021, Citizens Bank's most frequently cited loan duration was Other, with 353 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 159 $22,825,000 $143,553 $0 0.00%
    $100,000 or less 94 $6,540,000 $69,574 $0 0.00%
    $200k-400k 79 $21,435,000 $271,329 $0 0.00%
    $400k-600k 16 $7,450,000 $465,625 $0 0.00%
    $600k-1MM 4 $3,010,000 $752,500 $0 0.00%
    $1MM+ 1 $1,985,000 $1,985,000 $0 0.00%

    2021 saw Citizens Bank place emphasis on $100k-200k loans with 159 originations, totaling $22,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 85 $12,185,000 $143,353 $0 0.00%
    $50k or less 80 $8,460,000 $105,750 $0 0.00%
    $75k-100k 62 $11,240,000 $181,290 $0 0.00%
    $100k-150k 61 $11,865,000 $194,508 $0 0.00%
    $150k-250k 34 $9,270,000 $272,647 $0 0.00%
    $250k+ 24 $6,970,000 $290,417 $0 0.00%

    Citizens Bank lent most frequently to those with incomes in the $50k-75k range, with 85 originations. The second most popular income band? $50k or less, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 353 $63,245,000 $179,164 $0 0.00%

    Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 353 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 335 $58,355,000 $174,194 $0 0.00%
    Not applicable 7 $3,255,000 $465,000 $0 0.00%
    Asian 6 $870,000 $145,000 $0 0.00%
    Black 4 $610,000 $152,500 $0 0.00%
    Native Hawaiian or Islander 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.01%

    Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.74%

    Citizens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 353 $63,245,000 $179,164

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    353 $63,245,000 $179,164

    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 10503 Heartland Boulevard Camby, IN 46113 Full Service B&M $30,729
    Citizens Bank 1098 State Road 39 By-Pass Martinsville, IN 46151 Full Service B&M $64,924
    Citizens Bank 1360 East Morgan Street Martinsville, IN 46151 Full Service B&M $32,694
    Citizens Bank 1767 W. Stones Crossing Road Greenwood, IN 46143 Full Service B&M $642
    Citizens Bank 2334 East County Line Road South Indianapolis, IN 46227 Full Service B&M $43,314
    Citizens Bank 2402 East Main Street Plainfield, IN 46168 Full Service B&M $38,966
    Citizens Bank 33 North Indiana Street Mooresville, IN 46158 Full Service B&M $246,970
    Citizens Bank 43 East Washington Street Monrovia, IN 46157 Full Service B&M $53,368
    Citizens Bank 99 S. Dan Jones Road Avon, IN 46123 Full Service B&M $30,999
    Citizens Bank Highway 42 And Highway 142 Eminence, IN 46125 Full Service B&M $25,233

    For 2021, Citizens Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,178
    Net interest income $16,174
    Total noninterest income $4,934
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $708
    Trading account gains and fees $0
    Additional Noninterest Income $4,226
    Pre-tax net operating income $5,659
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,547
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,547
    Minority interest net income $0
    Net income $4,547
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,547

    Citizens Bank's gross interest income from loans was $17,178,000.
    Citizens Bank's net interest income from loans was $16,174,000.
    Citizens Bank's fee based income from loans was $708,000.
    Citizens Bank's net income from loans was $4,547,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,004
    Provision for credit losses $-397
    Total noninterest expense $15,846
    Salaries and employee benefits $9,539
    Premises and equipment expense $1,489
    Additional noninterest expense $4,818
    Applicable income taxes $1,112
    Net charge-offs $-52
    Cash dividends $2,868

    Citizens Bank's interest expense for loans was $1,004,000.
    Citizens Bank's payroll and benefits expense were $9,539,000.
    Citizens Bank's property, plant and equipment expenses $1,489,000.

    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 $572,817
    Deposits held in domestic offices $572,817
    Deposits by Individuals, partnerships, and corporations $461,614
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $110,315
    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 $91,122
    Demand deposits $69,336
    Nontransaction accounts $481,695
    Money market deposit accounts (MMDAs) $80,715
    Other savings deposits (excluding MMDAs) $340,892
    Total time deposits $60,089
    Total time and savings deposits $503,481
    Noninterest-bearing deposits $160,254
    Interest-bearing deposits $412,563
    Retail deposits $552,043
    IRAs and Keogh plan accounts $16,904
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $637,555
    Cash & Balances due from depository institutions $167,123
    Interest-bearing balances $161,560
    Total securities $125,343
    Federal funds sold & reverse repurchase $0
    Net loans and leases $329,518
    Loan and leases loss allowance $4,364
    Trading account assets $0
    Bank premises and fixed assets $10,326
    Other real estate owned $0
    Goodwill and other intangibles $649
    All other assets $4,596

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $637,555
    Total Liabilities $575,724
    Total deposits $572,817
    Interest-bearing deposits $412,563
    Deposits held in domestic offices $572,817
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,907

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $329,518
    Loan and leases loss allowance $4,364
    Total loans and leases (domestic) $333,882
    All real estate loans $155,660
    Real estate loans in domestic offices $155,660
    Construction and development loans $5,402
    Residential 1-4 family construction $2,178
    Other construction, all land development and other land $3,224
    Loans secured by nonfarm nonresidential properties $100,607
    Nonfarm nonresidential secured by owner-occupied properties $45,246
    Commercial real estate & other non-farm, non-residential $55,361
    Multifamily residential real estate $982
    1-4 family residential loans $47,228
    Farmland loans $1,441
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $15,051
    To non-U.S. addressees $0
    Loans to individuals $161,845
    Credit card loans $0
    Related Plans $256
    Consumer Auto Loans $69,643
    Other loans to individuals $91,946
    All other loans & leases $1,326
    Loans to foreign governments and official institutions $0
    Other loans $133
    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 $1,589
    Non 1-4 family restructured loans & leases $1,086
    Total loans and leases (foreign) $0

    Citizens Bank had $329,518,000 of loans outstanding in 2021. $155,660,000 of loans were in real estate loans. $5,402,000 of loans were in development loans. $982,000 of loans were in multifamily mortgage loans. $47,228,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $69,643,000 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 336 $57,896 $172,310
    Nonfarm, nonresidential loans - <$100k 95 $4,311 $45,379
    Nonfarm, nonresidential loans - $100-250k 138 $17,305 $125,399
    Nonfarm, nonresidential loans - $250k-1MM 103 $36,280 $352,233
    Commercial & Industrial, US addressed loans - <$1MM 140 $10,342 $73,871
    Commercial & Industrial, US addressed loans - <$100k 80 $1,697 $21,213
    Commercial & Industrial, US addressed loans - $100-250k 44 $4,422 $100,500
    Commercial & Industrial, US addressed loans - $250k-1MM 16 $4,223 $263,938
    Farmland loans - <$1MM 8 $909 $113,625
    Farmland loans - <$100k 1 $13 $13,000
    Farmland loans - $100-250k 5 $733 $146,600
    Farmland loans - $250k-1MM 2 $163 $81,500