Citizens Savings Bank Mortgage Rates, Fees & Info

Bogalusa, LA

LEI: 549300ESV371MYVWQV54

Tax ID: 72-0369226

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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 Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Citizens Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bogalusa, New Orleans, Gulfport, Hammond, and Picayune among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens Savings 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.

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    Originations

    236

    Origination Dollar Volume (All Markets)

    $23,610,000

    Employee count

    77

    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
    Bogalusa, LA (FHA|USDA|VA) 193 $17,345,000 $89,870 $0 0.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 33 $4,385,000 $132,879 $0 0.00%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $745,000 $745,000 $0 0.00%
    HAMMOND, LA (FHA|USDA|VA) 4 $640,000 $160,000 $0 0.00%
    Picayune, MS (FHA|USDA|VA) 3 $415,000 $138,333 $0 0.00%
    Outside of Metro Areas 1 $45,000 $45,000 $0 0.00%
    BATON ROUGE, LA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Citizens Savings Bank's top markets include Bogalusa, New Orleans, Gulfport, Hammond, and Picayune among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 236 $23,610,000 $100,042 $0 0.00%

    For 2019, Citizens Savings Bank's most frequently originated type of loan was Conventional, with 236 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 98 $11,810,000 $120,510 $0 0.00%
    Refi 96 $9,730,000 $101,354 $0 0.00%
    Home Improvement 21 $995,000 $47,381 $0 0.00%
    Other 21 $1,075,000 $51,190 $0 0.00%

    For 2019, Citizens Savings Bank's most frequently cited loan purpose was Home Purchase, with 98 originations. The 2nd most popular reason was Refi, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 236 $23,610,000 $100,042 $0 0.00%

    For 2019, Citizens Savings Bank's most frequently cited loan duration was Other, with 236 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 153 $7,005,000 $45,784 $0 0.00%
    $100k-200k 48 $6,910,000 $143,958 $0 0.00%
    $200k-400k 33 $8,545,000 $258,939 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%
    $600k-1MM 1 $745,000 $745,000 $0 0.00%

    2019 saw Citizens Savings Bank place emphasis on $100,000 or less loans with 153 originations, totaling $7,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 58 $4,680,000 $80,690 $0 0.00%
    $50k or less 54 $2,660,000 $49,259 $0 0.00%
    $100k-150k 44 $6,510,000 $147,955 $0 0.00%
    $75k-100k 38 $3,500,000 $92,105 $0 0.00%
    $150k-250k 18 $3,160,000 $175,556 $0 0.00%
    $250k+ 5 $415,000 $83,000 $0 0.00%

    Citizens Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $50k or less, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 236 $23,610,000 $100,042 $0 0.00%

    Citizens Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 236 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 186 $19,190,000 $103,172 $0 0.00%
    Not applicable 17 $2,575,000 $151,471 $0 0.00%
    Black 26 $1,440,000 $55,385 $0 0.00%
    Asian 7 $405,000 $57,857 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.31%

    Citizens Savings 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
    88.14%

    Citizens Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 236 $23,610,000 $100,042

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $1,430,000 $238,333
    Single Family (1-4 Units):Manufactured 37 $1,735,000 $46,892
    Single Family (1-4 Units):Site-Built 193 $20,445,000 $105,933

    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 Savings Bank 1725 Sullivan Drive Bogalusa, LA 70427 Full Service B&M $71,781
    Citizens Savings Bank 1990 Highway 190 Covington, LA 70433 Full Service B&M $24,928
    Citizens Savings Bank 201 Cumberland Street Bogalusa, LA 70427 Full Service B&M $29,578
    Citizens Savings Bank 30271 Railroad Street Angie, LA 70426 Full Service B&M $9,596
    Citizens Savings Bank 828 Main Street Franklinton, LA 70438 Full Service B&M $64,875

    For 2019, Citizens Savings Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,629
    Net interest income $10,150
    Total noninterest income $920
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $436
    Trading account gains and fees $0
    Additional Noninterest Income $484
    Pre-tax net operating income $1,893
    Securities gains (or losses, -) $2
    Income before extraordinary items $1,544
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,544
    Minority interest net income $0
    Net income $1,544
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,542

    Citizens Savings Bank's gross interest income from loans was $12,629,000.
    Citizens Savings Bank's net interest income from loans was $10,150,000.
    Citizens Savings Bank's fee based income from loans was $436,000.
    Citizens Savings Bank's net income from loans was $1,544,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,479
    Provision for credit losses $800
    Total noninterest expense $8,377
    Salaries and employee benefits $5,455
    Premises and equipment expense $863
    Additional noninterest expense $2,059
    Applicable income taxes $351
    Net charge-offs $356
    Cash dividends $0

    Citizens Savings Bank's interest expense for loans was $2,479,000.
    Citizens Savings Bank's payroll and benefits expense were $5,455,000.
    Citizens Savings Bank's property, plant and equipment expenses $863,000.

    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 $198,941
    Deposits held in domestic offices $198,941
    Deposits by Individuals, partnerships, and corporations $195,104
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,837
    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 $56,662
    Demand deposits $38,520
    Nontransaction accounts $142,279
    Money market deposit accounts (MMDAs) $7,529
    Other savings deposits (excluding MMDAs) $32,810
    Total time deposits $101,940
    Total time and savings deposits $160,421
    Noninterest-bearing deposits $39,681
    Interest-bearing deposits $159,260
    Retail deposits $183,599
    IRAs and Keogh plan accounts $24,737
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $234,386
    Cash & Balances due from depository institutions $15,821
    Interest-bearing balances $10,295
    Total securities $22,817
    Federal funds sold & reverse repurchase $0
    Net loans and leases $183,572
    Loan and leases loss allowance $4,617
    Trading account assets $0
    Bank premises and fixed assets $4,667
    Other real estate owned $45
    Goodwill and other intangibles $0
    All other assets $7,464

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $234,386
    Total Liabilities $200,155
    Total deposits $198,941
    Interest-bearing deposits $159,260
    Deposits held in domestic offices $198,941
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,214

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $183,572
    Loan and leases loss allowance $4,617
    Total loans and leases (domestic) $188,189
    All real estate loans $171,794
    Real estate loans in domestic offices $171,794
    Construction and development loans $22,199
    Residential 1-4 family construction $4,661
    Other construction, all land development and other land $17,538
    Loans secured by nonfarm nonresidential properties $38,534
    Nonfarm nonresidential secured by owner-occupied properties $23,856
    Commercial real estate & other non-farm, non-residential $14,678
    Multifamily residential real estate $562
    1-4 family residential loans $98,082
    Farmland loans $12,417
    Loans held in foreign offices $0
    Farm loans $128
    Commercial and industrial loans $4,661
    To non-U.S. addressees $0
    Loans to individuals $11,553
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,953
    Other loans to individuals $8,600
    All other loans & leases $53
    Loans to foreign governments and official institutions $0
    Other loans $31
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $327
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $12,654
    Non 1-4 family restructured loans & leases $12,246
    Total loans and leases (foreign) $0

    Citizens Savings Bank had $183,572,000 of loans outstanding in 2019. $171,794,000 of loans were in real estate loans. $22,199,000 of loans were in development loans. $562,000 of loans were in multifamily mortgage loans. $98,082,000 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. $2,953,000 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 168 $23,680 $140,952
    Nonfarm, nonresidential loans - <$100k 74 $2,963 $40,041
    Nonfarm, nonresidential loans - $100-250k 59 $7,259 $123,034
    Nonfarm, nonresidential loans - $250k-1MM 35 $13,458 $384,514
    Commercial & Industrial, US addressed loans - <$1MM 198 $4,661 $23,540
    Commercial & Industrial, US addressed loans - <$100k 187 $3,455 $18,476
    Commercial & Industrial, US addressed loans - $100-250k 11 $1,206 $109,636
    Farmland loans - <$1MM 102 $9,604 $94,157
    Farmland loans - <$100k 60 $2,846 $47,433
    Farmland loans - $100-250k 32 $4,265 $133,281
    Farmland loans - $250k-1MM 10 $2,493 $249,300
    Agriculture operations loans - <$1MM 4 $128 $32,000
    Agriculture operations loans - <$100k 4 $128 $32,000