Citizens Bank Mortgage Rates, Fees & Info

Elizabethton, TN

LEI: 549300E035FX7XMJ6713

Tax ID: 62-1580428

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Citizens Bank is a smaller bank specializing in Home Purchase and Refi loans. Citizens Bank has a high proportion of conventional loans. Their top markets include Knoxville, Johnson City, Chattanooga, Sevierville, and Kingsport among others. Citizens Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors.


Originations

281

Origination Dollar Volume (All Markets)

$138,235,000

Employee count

213

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
KNOXVILLE, TN (FHA|USDA|VA) 161 $84,745,000 $526,366 $0 0.00%
JOHNSON CITY, TN (FHA|USDA|VA) 39 $15,195,000 $389,615 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $8,845,000 $8,845,000 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 14 $7,410,000 $529,286 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 39 $6,275,000 $160,897 $0 0.00%
CLEVELAND, TN (FHA|USDA|VA) 2 $2,210,000 $1,105,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $2,185,000 $2,185,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $2,015,000 $2,015,000 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $1,855,000 $1,855,000 $0 0.00%
Greeneville, TN (FHA|USDA|VA) 4 $1,090,000 $272,500 $0 0.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $885,000 $885,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $835,000 $835,000 $0 0.00%
Crossville, TN (FHA|USDA|VA) 1 $745,000 $745,000 $0 0.00%
Lewisburg, TN (FHA|USDA|VA) 1 $705,000 $705,000 $0 0.00%
Outside of Metro Areas 5 $685,000 $137,000 $0 0.00%
BECKLEY, WV (FHA|USDA|VA) 1 $595,000 $595,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
MORRISTOWN, TN (FHA|USDA|VA) 3 $375,000 $125,000 $0 0.00%
GAINESVILLE, GA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Athens, TN (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%

Citizens Bank's top markets include Knoxville, Johnson City, Chattanooga, Sevierville, and Kingsport among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 281 $138,235,000 $491,940 $0 0.00%

For the 2021 period, Citizens Bank's most frequently originated loan type of loans were Conventional, with 281 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 207 $99,875,000 $482,488 $0 0.00%
Refi 69 $36,945,000 $535,435 $0 0.00%
Home Improvement 5 $1,415,000 $283,000 $0 0.00%

For the 2021, Citizens Bank's most frequently cited loan purpose of loans were Home Purchase, with 207 originations. The 2nd most popular reason of loans were Refi, with 69 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 281 $138,235,000 $491,940 $0 0.00%

For the 2021, Citizens Bank's most frequently cited loan length of loans were Other, with 281 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 99 $14,195,000 $143,384 $0 0.00%
$200k-400k 70 $18,310,000 $261,571 $0 0.00%
$100,000 or less 53 $3,665,000 $69,151 $0 0.00%
$1MM+ 23 $81,255,000 $3,532,826 $0 0.00%
$400k-600k 21 $10,175,000 $484,524 $0 0.00%
$600k-1MM 15 $10,635,000 $709,000 $0 0.00%

2021 saw Citizens Bank place emphasis on $100k-200k loans with 99 originations, totaling $14,195,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 19 $3,805,000 $200,263 $0 0.00%
$150k-250k 17 $4,375,000 $257,353 $0 0.00%
$250k+ 15 $6,095,000 $406,333 $0 0.00%
$75k-100k 13 $1,585,000 $121,923 $0 0.00%
$50k-75k 12 $1,710,000 $142,500 $0 0.00%
$50k or less 12 $1,630,000 $135,833 $0 0.00%

Citizens Bank lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 17 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 281 $138,235,000 $491,940 $0 0.00%

Citizens Bank lent most frequently to those with DTI ratios of Exempt%, with 281 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 178 $107,030,000 $601,292 $0 0.00%
White 86 $27,230,000 $316,628 $0 0.00%
Not provided 13 $3,595,000 $276,538 $0 0.00%
Black 4 $380,000 $95,000 $0 0.00%

Approval Rates

Total approvals of all applications
95.21%

Citizens Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
94.70%

Citizens Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 281 $138,235,000 $491,940

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
281 $138,235,000 $491,940

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 101 East Main Street Kingsport, TN 37662 Full Service B&M $64,706
Citizens Bank 300 Broad Street Elizabethton, TN 37643 Full Service B&M $349,998
Citizens Bank 301 Bemberg Road Elizabethton, TN 37643 Full Service B&M $31,071
Citizens Bank 3028 Peoples Street Johnson City, TN 37605 Full Service B&M $88,941
Citizens Bank 310 East State Street Bristol, TN 37620 Full Service B&M $47,163
Citizens Bank 4215 Fort Henry Drive Kingsport, TN 37663 Full Service B&M $28,349
Citizens Bank 5426 Homberg Drive Knoxville, TN 37919 Full Service B&M $68,494
Citizens Bank 6771 Baum Dr Knoxville, TN 37919 Limited, Administrative $0
Citizens Bank 702 Us 321 Scenic Hampton, TN 37658 Full Service B&M $15,973
Citizens Bank 844 Volunteer Parkway Bristol, TN 37620 Full Service B&M $59,854
Citizens Bank 2025 Jacksboro Pike La Follette, TN 37766 Full Service B&M $67,578
Citizens Bank 2240 East Stone Drive Kingsport, TN 37662 Full Service B&M $38,922
Citizens Bank 256 Medical Park Drive Lenoir City, TN 37771 Full Service B&M $54,509

For 2021, Citizens Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $48,678
Net interest income $45,155
Total noninterest income $25,580
Gross Fiduciary activities income $40
Service charges on deposit accounts $822
Trading account gains and fees $0
Additional Noninterest Income $24,718
Pre-tax net operating income $33,981
Securities gains (or losses, -) $502
Income before extraordinary items $33,210
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $33,210
Minority interest net income $4,553
Net income $28,657
Sale, conversion, retirement of capital stock, net $0
Net operating income $32,728

Citizens Bank's gross interest income from loans was $48,678,000.
Citizens Bank's net interest income from loans was $45,155,000.
Citizens Bank's fee based income from loans was $822,000.
Citizens Bank's net income from loans was $28,657,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,523
Provision for credit losses $-718
Total noninterest expense $37,472
Salaries and employee benefits $24,291
Premises and equipment expense $4,302
Additional noninterest expense $8,879
Applicable income taxes $1,273
Net charge-offs $44
Cash dividends $14,418

Citizens Bank's interest expense for loans was $3,523,000.
Citizens Bank's payroll and benefits expense were $24,291,000.
Citizens Bank's property, plant and equipment expenses $4,302,000.

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 2.0%
Credit card loans 0.0%
Other individual loans 2.0%
Auto loans 2.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $909,495
Deposits held in domestic offices $909,495
Deposits by Individuals, partnerships, and corporations $795,448
Deposits by U.S. Government $9,502
Deposits by States and political subdivisions in the U.S. $104,501
Deposits by Commercial banks and other depository institutions in U.S. $44
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $420,926
Demand deposits $178,158
Nontransaction accounts $488,569
Money market deposit accounts (MMDAs) $143,785
Other savings deposits (excluding MMDAs) $119,949
Total time deposits $224,835
Total time and savings deposits $731,337
Noninterest-bearing deposits $176,601
Interest-bearing deposits $732,894
Retail deposits $867,987
IRAs and Keogh plan accounts $31,307
Brokered deposits $10,266
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,068,428
Cash & Balances due from depository institutions $45,508
Interest-bearing balances $0
Total securities $141,483
Federal funds sold & reverse repurchase $21,119
Net loans and leases $816,803
Loan and leases loss allowance $9,263
Trading account assets $0
Bank premises and fixed assets $14,099
Other real estate owned $0
Goodwill and other intangibles $12,723
All other assets $16,693

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,068,428
Total Liabilities $930,284
Total deposits $909,495
Interest-bearing deposits $732,894
Deposits held in domestic offices $909,495
% insured (estimated) $72
Federal funds purchased and repurchase agreements $2,990
Trading liabilities $0
Other borrowed funds $55
Subordinated debt $0
All other liabilities $17,744

Issued Loan Types

Type Value (in 000's)
Net loans and leases $816,803
Loan and leases loss allowance $9,263
Total loans and leases (domestic) $826,066
All real estate loans $710,424
Real estate loans in domestic offices $710,424
Construction and development loans $140,415
Residential 1-4 family construction $53,231
Other construction, all land development and other land $87,184
Loans secured by nonfarm nonresidential properties $427,899
Nonfarm nonresidential secured by owner-occupied properties $185,881
Commercial real estate & other non-farm, non-residential $242,018
Multifamily residential real estate $25,647
1-4 family residential loans $112,568
Farmland loans $3,895
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $96,563
To non-U.S. addressees $0
Loans to individuals $16,030
Credit card loans $867
Related Plans $37
Consumer Auto Loans $12,944
Other loans to individuals $2,182
All other loans & leases $5,642
Loans to foreign governments and official institutions $0
Other loans $5,307
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 $9,829
Non 1-4 family restructured loans & leases $7,640
Total loans and leases (foreign) $0

Citizens Bank had $816,803,000 of loans outstanding in 2021. $710,424,000 of loans were in real estate loans. $140,415,000 of loans were in development loans. $25,647,000 of loans were in multifamily mortgage loans. $112,568,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $867,000 of loans were in credit card loans. $12,944,000 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 425 $164,707 $387,546
Nonfarm, nonresidential loans - <$100k 35 $1,721 $49,171
Nonfarm, nonresidential loans - $100-250k 84 $11,303 $134,560
Nonfarm, nonresidential loans - $250k-1MM 306 $151,683 $495,696
Commercial & Industrial, US addressed loans - <$1MM 801 $93,428 $116,639
Commercial & Industrial, US addressed loans - <$100k 251 $9,163 $36,506
Commercial & Industrial, US addressed loans - $100-250k 165 $19,001 $115,158
Commercial & Industrial, US addressed loans - $250k-1MM 385 $65,264 $169,517
Farmland loans - <$1MM 22 $2,043 $92,864
Farmland loans - <$100k 9 $312 $34,667
Farmland loans - $100-250k 10 $783 $78,300
Farmland loans - $250k-1MM 3 $948 $316,000