Citizens Bank Of Las Cruces Mortgage Rates, Fees & Info

Las Cruces, NM

LEI: 549300L5PE7ZGYRW5Q15

Tax ID: 85-0207454

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Citizens Bank Of Las Cruces is a smaller bank specializing in Home Purchase loans. Citizens Bank Of Las Cruces has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Las Cruces, El Paso, Danville, Alamogordo, and Albuquerque among others. Citizens Bank Of Las Cruces 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. Citizens Bank Of Las Cruces is typically a low fee lendor.


Originations

898

Origination Dollar Volume (All Markets)

$202,710,000

Employee count

117 Show all (10) awards

Relative Rate

Citizens Bank Of Las Cruces's average 30 year fixed rate mortgage of loans were 2.98%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.17%.

Relative Fees

Citizens Bank Of Las Cruces's average total fees for a 30 year fixed rate mortgage are $3,295.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
LAS CRUCES, NM (FHA|USDA|VA) 816 $180,020,000 $220,613 $3,089 2.97%
EL PASO, TX (FHA|USDA|VA) 23 $6,855,000 $298,043 $4,020 3.08%
Danville, VA (FHA|USDA|VA) 1 $4,485,000 $4,485,000 $0 4.75%
Outside of Metro Areas 24 $2,750,000 $114,583 $2,378 3.80%
Alamogordo, NM (FHA|USDA|VA) 9 $1,685,000 $187,222 $3,603 2.96%
ALBUQUERQUE, NM (FHA|USDA|VA) 7 $1,665,000 $237,857 $3,074 3.00%
Ruidoso, NM (FHA|USDA|VA) 5 $1,425,000 $285,000 $2,690 2.93%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $820,000 $410,000 $6,635 2.75%
Deming, NM (FHA|USDA|VA) 4 $690,000 $172,500 $2,010 3.44%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $545,000 $545,000 $4,180 2.63%
SANTA FE, NM (FHA|USDA|VA) 1 $525,000 $525,000 $4,878 2.88%
WACO, TX (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.25%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $405,000 $405,000 $3,480 2.75%
TUCSON, AZ (FHA|USDA|VA) 1 $155,000 $155,000 $2,297 3.13%
TYLER, TX (FHA|USDA|VA) 1 $155,000 $155,000 $2,247 3.25%
LUBBOCK, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.50%

Citizens Bank Of Las Cruces's top markets include Las Cruces, El Paso, Danville, Alamogordo, and Albuquerque among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 767 $170,365,000 $222,119 $2,469 3.04%
FHA 72 $14,870,000 $206,528 $5,979 2.78%
VA 59 $17,475,000 $296,186 $6,750 2.74%

For the 2021 period, Citizens Bank Of Las Cruces's most frequently originated loan type of loans were Conventional, with 767 originations. Their 2nd most popular type is FHA, with 72 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 627 $149,475,000 $238,397 $3,535 3.03%
Refi 174 $33,240,000 $191,034 $1,972 2.74%
Cash Out Refi 78 $16,440,000 $210,769 $2,425 3.17%
Home Improvement 14 $2,890,000 $206,429 $2,578 3.53%
Other 5 $665,000 $133,000 $1,923 3.80%

For the 2021, Citizens Bank Of Las Cruces's most frequently cited loan purpose of loans were Home Purchase, with 627 originations. The 2nd most popular reason of loans were Refi, with 174 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 718 $165,010,000 $229,819 $3,295 2.98%
15 Year 121 $22,365,000 $184,835 $2,181 2.73%
10 Year 22 $3,730,000 $169,545 $2,009 3.94%
20 Year 22 $4,210,000 $191,364 $2,294 2.99%
5 Year 11 $5,815,000 $528,636 $0 4.96%
Other 4 $1,580,000 $395,000 $1,520 3.19%

For the 2021, Citizens Bank Of Las Cruces's most frequently cited loan length of loans were 30 Year, with 718 originations. The 2nd most popular length of loans were 15 Year, with 121 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 710 $160,900,000 $226,620
$1k-2k 48 $11,340,000 $236,250
$2k-3k 26 $6,280,000 $241,538
$3k-4k 13 $3,685,000 $283,462
$5k+ 4 $1,470,000 $367,500

$3,295 of loans were Citizens Bank Of Las Cruces's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 710 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 448 $107,180,000 $239,241
3-4% 233 $49,705,000 $213,326
<2.5% 169 $33,795,000 $199,970
4-5% 28 $10,610,000 $378,929
5-6% 14 $1,090,000 $77,857
6-7% 6 $330,000 $55,000

During 2021, Citizens Bank Of Las Cruces's average interest rate of loans were 2.98%, while their most frequently originated rate bucket of loans were 2.5-3%, with 448 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 409 $109,405,000 $267,494 $3,619 2.91%
$100k-200k 355 $54,905,000 $154,662 $2,451 2.94%
$100,000 or less 75 $5,405,000 $72,067 $1,637 3.76%
$400k-600k 55 $26,025,000 $473,182 $4,132 2.92%
$1MM+ 2 $5,500,000 $2,750,000 $0 4.63%
$600k-1MM 2 $1,470,000 $735,000 $4,715 3.83%

2021 saw Citizens Bank Of Las Cruces place emphasis on $200k-400k loans with 409 originations, totaling $109,405,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 222 $44,480,000 $200,360 $3,257 3.02%
$75k-100k 184 $40,470,000 $219,946 $3,067 2.93%
$100k-150k 174 $43,890,000 $252,241 $3,451 3.01%
$50k or less 141 $20,985,000 $148,830 $2,670 2.96%
$150k-250k 117 $29,975,000 $256,197 $2,864 2.96%
$250k+ 48 $15,210,000 $316,875 $3,216 3.07%

Citizens Bank Of Las Cruces lent most frequently to those with incomes in the $50k-75k range, with 222 originations. The second most popular income band? $75k-100k, with 184 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 207 $44,015,000 $212,633 $2,545 2.93%
30-36% 176 $41,400,000 $235,227 $3,300 2.99%
<20% 118 $23,210,000 $196,695 $2,608 2.88%
42% 40 $7,710,000 $192,750 $2,427 3.11%
36% 36 $6,930,000 $192,500 $3,233 2.81%
39% 34 $6,160,000 $181,176 $2,820 3.00%
41% 30 $6,480,000 $216,000 $3,815 2.88%
43% 29 $7,015,000 $241,897 $2,992 2.98%
40% 27 $7,385,000 $273,519 $3,473 2.86%
38% 26 $6,640,000 $255,385 $3,248 3.13%
44% 25 $6,805,000 $272,200 $3,569 3.23%
49% 24 $5,280,000 $220,000 $3,687 3.01%
37% 23 $5,595,000 $243,261 $3,033 3.02%
46% 22 $4,880,000 $221,818 $4,566 3.09%
45% 20 $4,200,000 $210,000 $4,650 2.74%
48% 16 $3,930,000 $245,625 $2,968 3.09%
47% 12 $3,300,000 $275,000 $3,575 2.99%
50-60% 11 $2,695,000 $245,000 $6,804 2.68%

Citizens Bank Of Las Cruces lent most frequently to those with DTI ratios of 20-30%, with 207 originations. The next most common DTI ratio? 30-36%, with 176 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 744 $163,340,000 $219,543 $3,073 2.98%
Not provided 104 $22,560,000 $216,923 $2,954 3.01%
Not applicable 7 $6,685,000 $955,000 $0 4.85%
Asian 17 $4,165,000 $245,000 $3,106 2.93%
Black 14 $3,120,000 $222,857 $4,218 3.13%
American Indian 11 $2,635,000 $239,545 $4,833 3.02%
Asian Indian 1 $205,000 $205,000 $2,231 2.63%

Approval Rates

Total approvals of all applications
97.60%

Citizens Bank Of Las Cruces 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
91.94%

Citizens Bank Of Las Cruces has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
2014.84 1 $175,000 $175,000
485.5 1 $25,000 $25,000
580.5 1 $35,000 $35,000
598.35 1 $35,000 $35,000
690.15 1 $45,000 $45,000
767.06 1 $45,000 $45,000
NA 892 $202,350,000 $226,850

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
898 $202,710,000 $225,735

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 41 $5,495,000 $134,024 $1,918 2.81%
40-60% 76 $12,350,000 $162,500 $2,144 2.89%
60-80% 381 $87,165,000 $228,780 $2,433 3.13%
80-100% 376 $91,600,000 $243,617 $3,485 2.92%
Over 100% 20 $5,910,000 $295,500 $12,031 2.74%
Under 20% 4 $190,000 $47,500 $743 3.12%

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 of Las Cruces 505 S. Main Street Las Cruces, NM 88001 Full Service B&M $461,475
Citizens Bank of Las Cruces 1920 N. Date Street Truth Or Consequences, NM 87901 Full Service B&M $57,165
Citizens Bank of Las Cruces 2500 N Mesa St, Ste A El Paso, TX 79902 Full Service B&M $9,698
Citizens Bank of Las Cruces 2841 N Main St Las Cruces, NM 88001 Full Service B&M $44,411
Citizens Bank of Las Cruces 3030 W Picacho Ave Las Cruces, NM 88007 Full Service B&M $71,710
Citizens Bank of Las Cruces 3065 East University Avenue Las Cruces, NM 88011 Full Service B&M $64,128
Citizens Bank of Las Cruces 3991 East Lohman Ave Las Cruces, NM 88011 Full Service B&M $78,840

For 2021, Citizens Bank Of Las Cruces had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $28,770
Net interest income $27,523
Total noninterest income $9,528
Gross Fiduciary activities income $0
Service charges on deposit accounts $869
Trading account gains and fees $0
Additional Noninterest Income $8,659
Pre-tax net operating income $15,913
Securities gains (or losses, -) $2,192
Income before extraordinary items $18,105
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $18,105
Minority interest net income $0
Net income $18,105
Sale, conversion, retirement of capital stock, net $0
Net operating income $15,913

Citizens Bank Of Las Cruces's gross interest income from loans was $28,770,000.
Citizens Bank Of Las Cruces's net interest income from loans was $27,523,000.
Citizens Bank Of Las Cruces's fee based income from loans was $869,000.
Citizens Bank Of Las Cruces's net income from loans was $18,105,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,247
Provision for credit losses $540
Total noninterest expense $20,598
Salaries and employee benefits $13,499
Premises and equipment expense $1,497
Additional noninterest expense $5,602
Applicable income taxes $0
Net charge-offs $-2
Cash dividends $12,070

Citizens Bank Of Las Cruces's interest expense for loans was $1,247,000.
Citizens Bank Of Las Cruces's payroll and benefits expense were $13,499,000.
Citizens Bank Of Las Cruces's property, plant and equipment expenses $1,497,000.

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 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 $819,947
Deposits held in domestic offices $819,947
Deposits by Individuals, partnerships, and corporations $767,110
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $52,836
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 $481,704
Demand deposits $357,650
Nontransaction accounts $338,242
Money market deposit accounts (MMDAs) $153,320
Other savings deposits (excluding MMDAs) $117,582
Total time deposits $67,340
Total time and savings deposits $462,296
Noninterest-bearing deposits $357,659
Interest-bearing deposits $462,288
Retail deposits $802,110
IRAs and Keogh plan accounts $8,581
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $905,074
Cash & Balances due from depository institutions $222,946
Interest-bearing balances $215,031
Total securities $131,135
Federal funds sold & reverse repurchase $0
Net loans and leases $520,601
Loan and leases loss allowance $8,882
Trading account assets $0
Bank premises and fixed assets $12,416
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $17,976

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $905,074
Total Liabilities $825,408
Total deposits $819,947
Interest-bearing deposits $462,288
Deposits held in domestic offices $819,947
% insured (estimated) $62
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $5,461

Issued Loan Types

Type Value (in 000's)
Net loans and leases $520,601
Loan and leases loss allowance $8,882
Total loans and leases (domestic) $529,483
All real estate loans $416,664
Real estate loans in domestic offices $416,664
Construction and development loans $134,422
Residential 1-4 family construction $42,266
Other construction, all land development and other land $92,156
Loans secured by nonfarm nonresidential properties $192,001
Nonfarm nonresidential secured by owner-occupied properties $59,189
Commercial real estate & other non-farm, non-residential $132,812
Multifamily residential real estate $43,192
1-4 family residential loans $45,855
Farmland loans $1,194
Loans held in foreign offices $0
Farm loans $1,143
Commercial and industrial loans $108,364
To non-U.S. addressees $0
Loans to individuals $2,349
Credit card loans $711
Related Plans $159
Consumer Auto Loans $790
Other loans to individuals $689
All other loans & leases $964
Loans to foreign governments and official institutions $0
Other loans $80
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 $294
Non 1-4 family restructured loans & leases $73
Total loans and leases (foreign) $0

Citizens Bank of Las Cruces had $520,601,000 of loans outstanding in 2021. $416,664,000 of loans were in real estate loans. $134,422,000 of loans were in development loans. $43,192,000 of loans were in multifamily mortgage loans. $45,855,000 of loans were in 1-4 family mortgage loans. $1,143,000 of loans were in farm loans. $711,000 of loans were in credit card loans. $790,000 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 127 $27,241 $214,496
Nonfarm, nonresidential loans - <$100k 19 $782 $41,158
Nonfarm, nonresidential loans - $100-250k 47 $5,155 $109,681
Nonfarm, nonresidential loans - $250k-1MM 61 $21,304 $349,246
Commercial & Industrial, US addressed loans - <$1MM 596 $36,480 $61,208
Commercial & Industrial, US addressed loans - <$100k 482 $11,101 $23,031
Commercial & Industrial, US addressed loans - $100-250k 53 $6,198 $116,943
Commercial & Industrial, US addressed loans - $250k-1MM 61 $19,181 $314,443
Farmland loans - <$1MM 6 $753 $125,500
Farmland loans - <$100k 2 $48 $24,000
Farmland loans - $100-250k 2 $201 $100,500
Farmland loans - $250k-1MM 2 $504 $252,000
Agriculture operations loans - <$1MM 5 $167 $33,400
Agriculture operations loans - <$100k 5 $167 $33,400